Where to Buy a Smartphone & Pay in Monthly Installments

The cost of smartphones is always going up, and it is getting more and harder to pay a significant sum of money (all at once) for a device, especially in a place like Nigeria where there is no reliable financial system.

In industrialized nations, network providers, smartphone makers, and vendors provide financing solutions that let customers buy new handsets and stretch payments out over a certain length of time.

While not as common in Nigeria as they are in industrialized nations, certain e-commerce platforms and gadget shops do provide flexible payment plans on a selection of smartphones, computers, accessories, electronics, and other gadgets.

We’ll examine a few of these platforms, together with the specifics of their financing schemes, list of compatible devices, and prerequisites.

Easybuy

Easybuy is a platform for financing mobile devices run by Palmcredit. For those wishing to acquire smartphones but unable to afford the upfront cost of their selected gadget, Easybuy provides various financing options.

All you have to do is make an upfront deposit (at least 30% of the phone’s price) and work out a financing arrangement with Easybuy that allows you to pay the remaining 70% (plus interest) over three to six months.

Nigeria’s Jumia

For its consumers who are unable to pay a one-time payment for the products they want, Jumia Nigeria offers various financing options. The program is run by Jumia Nigeria’s “Jumia Flex” division. Customers of Jumia Nigeria have the option to stretch payments for a selection of smartphones, laptops, and other products over three to six months.

Visit the Jumia Flex website, choose the gadget you wish to buy, fill out the application, and submit it to complete the process. Applications are normally processed by Jumia Flex three working days after they are received. The firm will ask you to pick up your phone at the office if you have the necessary documentation and everything on your application is in order.

The prerequisites are mentioned below, and the full application procedure is done online.

Requirements

Bank Verification Number Last six months’ worth of bank statements in PDF

A legitimate ID card (driver’s license, passport, voter card, or national ID)

Jumia Flex finance plan-purchased devices are in good condition and covered by a 12-month warranty. Browse Jumia Flex’s website.

SLOT Nigeria

One of Nigeria’s oldest and largest offline retailers of smartphones and other electronics is SLOT (www.slot.ng), which has over 60 outlets across 18 states. SLOT formerly offered clients just one-time payment plans for the purchase of phones, gadgets, accessories, and other home/office devices, but the firm now provides more flexible gadget acquisition options.

Customers can buy a new smartphone and pay in monthly payments over a certain length of time, or they can trade in their existing devices for a new one. Similar to Jumia, SLOT provides 3 and 6-month payback programs for computers, cellphones, accessories, and other goods.

To buy a phone from SLOT and pay later, go to the SLOT shop or branch that is the nearest to you and ask questions about the device(s) you wish to buy, the pricing, the payment plans, and any other information you require. If the financing conditions are acceptable to you, you will be required to complete an application and provide the required paperwork. Your application will be completed in 24 hours if you do that.

If accepted, the gadget you want to buy will be given to you, and you may finish paying for it later.

ParktelOnline

Another well-known smartphone shop in the nation that offers financing programs is ParktelOnline (www.parktelonline.com). ParktelOnline primarily offers mobile devices and accessories; as a result, it seeks to provide smartphones to those who cannot afford a one-time purchase.

Only consumers in Lagos and Abuja may use ParktelOnline’s “Buy now, pay later” option, which is accessible for purchases of NGN 50,000 or more. Application may be made at any ParktelOnline shop in Lagos and Abuja or online through the company’s website.

Plans for funding smartphones It not only makes it simple to buy gadgets without going bankrupt, but it also makes sure you don’t miss out on the newest technology because you can’t now afford it.