How to shop on EMI without a credit card

Buy now and pay later using ZestMoney EM

Are you a shopaholic who spends way too much time planning your dream wardrobe? dreaming of buying a new bike or car? Or fantasising about buying new jewellery?

Do you wish there was a way to get your wish list converted into purchases without making a deep hole in your pockets? Are you looking for a way to split the cost of large on-line purchases?

Traditionally, the options have been pretty limited, especially for on-line shopping.

If you have a credit card, you have two options;

1. You can put the purchase on your credit card, assuming it is within your credit limit, then pay it off within 30 days so as not to accrue charges. If you need more time to repay, the bank will charge you something close to 3% per month on the outstanding credit (plus some other fees if you forget to repay).

2. You can convert your purchase into EMI; assuming your bank is tied up with the e-commerce portal for this facility. The entire purchase is charged to your card and then after a few days, the transaction is converted to EMI and you pay the remainder in monthly instalments. This also has a cost but a bit lower than the revolving credit card rate.

In both cases, your credit limit will be reduced by the amount of the purchase.

But what if you don’t have a credit card? Or if you don’t want to use up your existing credit limit? Are there other options?

In recent times, some new solutions have emerged for shopping online without a credit card. The most exciting of these is “Cardless EMI” such as ZestMoney (

Offering a hassle-free user experience — ZestMoney

ZestMoney is a new payment option on a number of merchant sites (see here).

You can select ZestMoney at the checkout and set up your ZestMoney account in a couple of minutes. All you need is your PAN number and details of your bank account (to make repayments). After providing some basic information, you will be given instant approval and then be asked to make a small upfront payment. At this point your transaction is confirmed.

Before your shopping can be dispatched, ZestMoney will contact you and ask for bank statements and a proof of ID. Uploading your documents couldn’t be easier but they can also send an agent to your house or office.

ZestMoney charges a simple processing fee and an affordable interest rate — depending on the product you are purchasing.

Advantages of ZestMoney Cardless EMI:

· Instant approval at checkout
· Easy account set-up
· Completely flexible EMI — from 2 to 12 months to suit your budget
· Early re-pay any time, with zero penalty
· No hidden fees

Sign up with ZestMoney then check out our partner sites:

· OverCart, ValueCart: For refurbished electronic purchases
· Bluestone, Kama Jewellery: For designer precious Jewellery (Not on gold jewellery)
· Gozoomo/Bike Dekho: For two-wheelers
· Lurap: For fashion clothing
· CapriCoast, Zefo: For furniture & decor

And many more coming soon.

Helping you buy now, pay later. Stay connected at

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