No Cost EMI on Flipkart
Posted on: 03/Jun/2016 9:37:03 AM
Flipkart introduced its No Cost EMI option. The e commerce major has said that this will make online shopping more affordable for high-end purchases due to no additional cost on EMIs, or equated monthly instalments.
The No Cost EMI will include zero processing fee, zero down payment, and zero interest for customers. The company hopes to enable more people to get access to their products. Flipkart has partnered with Baja FinServ and other key brands. The offer comes with loan tenures starting 3 months up to 12 months.
A senior executive from Flipkart says, Less than 1 percent of Indians have access to credit cards, and the traditional banking industry has been slow in addressing the need for small personal loans. This is the first step towards making shopping truly affordable for masses online and brands have shown great enthusiasm to collaborate with us. This has the potential to disrupt online shopping just like we did with Cash on Delivery a few years ago.
