GadgetByte Nepal

There was a time (not too long ago) when many of us in Nepal had to give up on our dream phones just because we couldn’t afford them right when they launched. I remember my dad waiting months, even years, for prices to drop or a newer model to come out, hoping the one he wanted would finally fit his budget.  But things have changed. With the rise of EMI services in Nepal, a lot of people are now able to get the phone they really want, sometimes within days of its release.

So, what exactly is EMI and how does it work? Don’t worry, I’ll walk you through everything you need to know, from how to get started to which brands and stores are offering the best deals. If you’ve ever been confused about the process or worry it’s too complicated, you’re not alone and this guide is here to clear it all up for you.

0% EMI on mobile phones

What is 0% EMI?

0% EMI (Equated Monthly Instalment) also known as no-cost EMI, refers to a financing option where the buyer pays the total cost of the mobile phone in fixed monthly installments without any additional interest or processing fees. For example, if a phone costs NPR 60,000 and the EMI tenure is 12 months, the buyer pays NPR 5,000 per month for 12 months, totaling NPR 60,000 with no extra charges.

Why choose 0% EMI in Nepal?

In Nepal, when a new phone comes out, it’s usually too expensive for most people to buy right away. That’s where 0% EMI comes in handy. You don’t have to pay the full amount at once. You can just pay in small monthly installments without any extra interest or hidden charges, so it doesn’t hurt your wallet all at once. It’s a great way to get the phone you really want, whether it’s a flagship or a solid mid-range model. Plus, lots of shops and banks offer EMI now, so it’s easy to find a deal that works for you.

How does it work in Nepal?

From what I’ve seen and experienced here in Nepal, 0% EMI schemes have become a really practical way to buy smartphones, especially for those of us who don’t want to or simply can’t spend a big chunk of money all at once. These EMI deals are usually offered through partnerships between smartphone brands, local retailers, online stores, and financial institutions like banks or finance companies.

The process is pretty straightforward. First, you choose a phone (usually something above NPR 15,000 qualifies), then pick your EMI plan; most people go for 6, 9, or 12 months, though it can go up to 18. Some schemes ask for a down payment (sometimes around 40%), but there are also offers with zero down payment, which is great if you’re short on cash.

Moreover, you’ll need to provide some basic documents like your citizenship certificate, proof of income (like salary slips if you’re working), and sometimes a bank account so they can set up auto-debits for your monthly payments. Once you submit everything, the approval usually doesn’t take more than a few days.

Payments can be made through your bank or even through digital wallets like eSewa and Khalti, which is super convenient. For many of us living here, this option really helps us get our hands on the latest phones without burning a hole in our pockets. It’s nice to see that more brands and retailers are making this easier and more accessible every year.

Key players in Nepal

Based on what I’ve found while researching and following the market here in Nepal, there are quite a few key players offering 0% EMI schemes for smartphones, and it’s becoming more common, especially with premium phones getting more expensive. Different brands team up with banks and finance companies to make these offers possible, and here are some of the main ones:

Samsung

Samsung has one of the most active EMI programs through its “Insta Finance” scheme in partnership with Hulas Finserv. You can get a Samsung phone above NPR 15,000 with 0% EMI, but you’ll need to pay a 40% down payment and show your citizenship. Payments are flexible, you can pay through eSewa, Khalti, or directly at Hulas’s Teku office. Just be careful with late payments, there’s a 2% penalty, and they can even lock your phone using Samsung Knox.

Xiaomi/Redmi

Xiaomi has brought back its 0% EMI offer in Nepal as of April 11, 2025. This time, you can buy the Redmi Note 14 series, Xiaomi 14T, and Xiaomi 15 Ultra with no interest on installments through MAW Hire Purchase. You just need to make a 40% down payment, making it easier for budget-conscious buyers to get the latest Xiaomi phones.

Vivo

Vivo has also jumped in by partnering with Goodwill Finance, offering 0% EMI for phones priced above NPR 25,000 (V, X, Y series). With Goodwill, you don’t even need a credit card, just your National Identity Card (NID).

Realme

Realme is working with Jagadamna Hire Purchase and Goodwill Finance, offering similar terms of 0% EMI without needing a credit card, and a 40% upfront payment for phones above NPR 20,000. They’re reportedly planning to roll out an updated EMI scheme in early 2025, so Realme fans should keep an eye on that.

Apple

As for Apple (iPhones), they’re a bit different. Authorized retailers like EvoStore and Oliz Store offer EMI options, often with 0% down payment, but many of these come with interest rates between 10–and 12%, unless it’s specifically advertised as a 0% EMI deal.

Overall, if you’re in Nepal and eyeing a new phone but don’t want to or can’t pay in full, these EMI schemes are a solid option. Just make sure to read the fine print, especially around interest rates, down payments, and penalties.

OnePlus

You can grab the 0% EMI service with two options: pay 40% upfront (no credit card needed, just your citizenship) or go for 0% down payment with a credit card from partner banks.

Honor

While Honor is a hit brand in Nepal, they currently don’t offer EMI. Exciting news is on the horizon. Yes, they’re set to roll out a 0% EMI plan in 2025, making their tough tech more affordable for Nepali fans not sure exactly when though.

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Retailers and online platforms

Well, it’s not just the brand offering EMI service, you see. A growing number of retailers and online platforms have jumped on the EMI bandwagon, making it easier than ever to grab that dream device without draining your savings. Here’s a breakdown of who’s offering what (consider this your cheat sheet to smarter shopping).

Fatafat Sewa

Let’s start with Fatafat Sewa—true to its name, it helps you grab your favorite phone fatafat! They offer 0% EMI on a wide range of brands including Samsung, Apple, Xiaomi, Vivo, and OnePlus. With tie-ups with 12 banks and Hulas Finserv, you get flexible options. If you have a credit card, you can even enjoy a 0% down payment. No credit card? No problem. You’ll just need to pay around 40% upfront. EMI tenure goes from 6 to 18 months, perfect for phones priced above NPR 15,000.

Hukut Store

Next up is Hukut Store, your gadget haven in Kathmandu! They bring 0% EMI on Samsung, Vivo, Realme, Apple, and more, with partners like Hulas Finserv and Goodwill Finance. Just flash your citizenship and pay 40% upfront (no credit card needed for most plans). EMI runs from 3 to 12 months, and with nationwide delivery, Hukut’s got you covered faster than you can say “new phone day!”

Daraz Nepal

Then there’s Daraz Nepal, the e-commerce giant that’s become everyone’s go-to during sales season. They offer 0% EMI through partner banks like NIC Asia, Nabil Bank, and more. But you need a credit card, and after buying the phone and you’ll have to contact the bank to convert it into EMI. Think of it as adding a little paperwork to your shopping cart.

EvoStore

EvoStore is the Apple paradise in town. If you’re eyeing an iPhone, iPad, or MacBook, this is the place to be. They offer EMI through banks like Nabil, Mega, NIC Asia, and Machhapuchhre, and guess what? No down payment is required with specific bank tie-ups. So yes, you can finally bite into that Apple without emptying your fruit basket of savings hehe.

Oliz Store

Oliz Store, another popular Apple retailer, offers EMI with a cool feature with an EMI calculator to help you plan your budget before you swipe. You’ll need a credit card and a Delivery Order from your bank, but once that’s sorted, you’re all set.

Choicemandu

Ever heard of Choicemandu? This rising platform is all about choices. They provide 0% EMI with 0% down payment on smartphones and more. The process is pretty simple: pick your product, fill out an EMI form, and get a Delivery Order from one of their partner banks. It’s like window shopping with a safety net!

Samsung Plaza

And let’s not forget the OG; Samsung Plaza. These official Samsung outlets offer EMI through Hulas Finserv and banks like Nabil, NMB, and Global IME. If you don’t have a credit card, no worries, Hulas Finserv’s plan doesn’t require one. It’s Samsung’s way of saying, “Don’t stress, just press ‘buy.’”

Eligibility and Requirements

Well, before you fly into Cloud 9, lemme make this clear that there are a few things you need to make sure you have before you dive into the world of 0% EMI in Nepal. A quick checklist to unlock that sweet monthly payment plan without extra charges.

• Age: You need to be 18 or older to qualify. Basically, if you can vote, you can EMI.
• Income proof: This is where it gets real. You’ll need to show that you have a stable source of income. These could be salary slips, bank statements, or even income tax documents. Hey, they’re not being nosy okay? They just want to make sure you can handle the monthly payments.
• Citizenship certificate: This one is a must. You need to be a valid Nepali citizen. No passport? No problem, as long as you’ve got your Nepali Nagarikta.
• Bank account: An active bank account is often required, especially for plans that use auto-debit to collect your monthly installments. It makes the process smoother and you won’t forget to pay (or get hit with penalties).
• Now here’s a fork in the road: some EMI plans require a credit card (I repeat, SOME). Especially those through banks like Nabil or Global IME. But don’t worry if you don’t have one. Finance companies like Hulas Finserv and Goodwill Finance have your back with non-credit card EMI options.
• Lastly, the down payment varies depending on the scheme. It can be as low as 0% (especially for credit card EMI) or up to 50% in some cases. Hulas Finserv, for example, usually asks for a 40% down payment, which is kind of the standard for many offline plans.

Pros and Cons of 0% EMI in Nepal

So yeah, just because you are getting a brand new phone at the least cost, doesn’t mean it’s always the best option. It comes with its own pros and cons.

Pros

• Affordability: Spreads the cost over months, making premium phones accessible.
• No interest: Saves money compared to standard EMI with interest rates (e.g., 10–12% for iPhones at EvoStore).
• Flexible tenures: Options from 3 to 18 months suit different budgets.
• Non-credit card options: Schemes like Hulas Finserv and Goodwill Finance cater to those without credit cards.
• Quick Approval: Many providers offer fast processing, sometimes within hours.

Cons and things to watch out for

• Limited Tenure: Some schemes (e.g., Xiaomi with Nabil Bank) restrict EMI to 6 months, requiring higher monthly payments.
• Down Payment: A 40% down payment can still be a significant upfront cost (e.g., NPR 40,000 for a NPR 100,000 phone).
• Late Payment Penalties: Late payments may incur a 2% penalty or, in Samsung’s case, phone locking via Knox security.
• Credit Card Dependency: Many schemes require a credit card, which may involve annual fees or complex cancellation processes.
• Availability: Not all brands (e.g., Xiaomi currently) or models offer 0% EMI, and schemes may be limited to specific retailers or banks.
• Hidden Terms: Some schemes may have unadvertised conditions, such as mandatory down payments or shorter tenures for certain models. Always read the fine print.

List of phones and their EMI services

For your convenience, I have made a table below of the top models from Samsung, Xiaomi, Vivo, Realme, Apple, and OnePlus, complete with EMI details, down payments, and tenures.

Conclusion

So, yeah folks, 0% EMI schemes in Nepal have revolutionized smartphone affordability, allowing consumers to own premium devices without financial strain. With brands like Samsung, Vivo, Realme, and upcoming Xiaomi offerings, alongside retailers like Fatafat Sewa, Hukut and Daraz, buyers have multiple options. However, it’s crucial to compare terms, check for hidden fees, and ensure timely payments to avoid penalties. By choosing a reputable provider and planning your budget, 0% EMI can be a smart way to get your dream phone in Nepal.

• Meanwhile, watch our replacing an old iPhone Battery in Nepal – Authorized vs Local Shop!: