eCommerceStartUp News

No EMI charges on Flipkart purchase

No more EMI cost!

Flipkart, leading online eCommerce portal today announced a new feature on costly products. It eliminates the cost on EMI. Buyers only have to pay incurred bank interest starting from 12% to 15% depending on different banks. Top banks that are offering EMI service on the portal are Axis, Citi, HDFC,  ICICI, Indusland, Kotak, SBI, etc. Removing the charges will help buyers to get products on exact price. Product bought under No Cost EMI has no processing fee, no down payment and no interest.

No Cost EMI is powered by Bajaj Finserv EMI Card and limited to mobile app only. Any buyer require to use this remove extra cost on the purchase. The feature is restricted to Apple iPhone, LG G5, VU Ultra HD TVs, Panasonic TVs and Infocus TVs. With it a few products also has attractive 10% discount if they own SBI Debit/Credit Card.

“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,” said Mayank Jain, head of digital and consumer financial services, Flipkart, in a statement.

Flipkart introduces enticing offers from time to time to let buyers get best product on best price. 30-days replacement on electronics also helps to buy with confident. Compared to other online platform, Flipkart let consumers to have a competitive price.

Relevant News

 Takeaways:

  • Flipkart with Bajaj Finserv brings No Cost EMI feature for consumer on high end products.
  • The feature is limited to Flipkart app.
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