With the growth of mobile technology, phones have become an indispensable part of people’s lives today. This, however, has also resulted in climbing rates, making phones an increasingly expensive purchase. To make phone ownership easier for customers, several companies offer ‘Buy Now Pay Later’ (BNPL) personal loans. These plans divide the payments into smaller chunks and generally have no associated interest or fees. Here are some of the top BNPL providers to finance phone purchases.

Affirm
Affirm has many different BNPL plans that allow customers to choose between a few payment schedules. One of the most popular is the pay-in-four, where the purchase is divided into four equal installments paid in regular, two-week intervals. Depending on the purchase and retailer, buyers can also opt for 3-, 6-, and 12-month plans. While the pay-in-four plan charges no interest, the monthly plans may have an interest rate of anywhere between 0% to 36%.

Afterpay
Afterpay also has similar plans. When shopping from their partnered retailers, customers can purchase their phones with a BNPL plan on a pay-in-four or a monthly basis. The pay-in-four plan has no associated fees or interest charges. However, the monthly plans can only be used at select retailers for purchases over $400 and may invite an interest of 0% to 35.99% APR.

Klarna
For those looking for longer monthly payment plans, Klarna may be the answer. In addition to their pay-in-four and pay-in-30 plans (which are interest-free), the company offers customers a chance to split their payment anywhere between six months and four years. These monthly payments may have associated interest charges ranging from 0% to 29.99% APR.

Sezzle
Sezzle has a much wider range of retailer partners compared to other options in the market, making it an attractive option for many. The company’s plans are quite similar to the others – pay-in-two and pay-in-four plans that can be availed interest-free, and a range of monthly financing options (from three months to four years), which may be charged with an interest rate between 5.99% to 34.99% APR.

All of these companies may perform a soft credit check, which does not impact one’s credit score. In some instances, customers with a positive repayment history with the company may also be offered more favorable terms to finance their latest phone purchase!