Zee Media Bureau
New Delhi: Flipkart has announced EMI scheme which is aimed at protecting the pockets of buyers while making expensive purchases on its platform.
Here are the key things you must know about the scheme:
1. Flipkart claims that it is a 'No Cost EMI' finance scheme, meaning buyers canb purchase expensive items on equated monthly installments (EMI) at no additional interest rate or processing fee or down payment.
2. A buyers can buy expensive item and pay it in installments spreading over 3 to 12 months.
3. The cost of the product bought should be at least Rs 4000.
4. Flipkart has partnered with Bajaj Finserv, a financial service provider in India, so othe buyer will need Bajaj Finserv EMI card to buy the product from Flipkart.
5. The Bajaj Finserv card comes at a joining fee of Rs 349 along with an annual renewal fee of Rs 99.
6. Consumers have to provide the necessary documents, as demanded by Bajaj Finserve.
7. Flipkart's 'No Cost EMI' scheme is applicable only on select products, that also only on the app and not on the mobile or desktop websites.