E-commerce giant Flipkart in association with Bajaj Finserv has introduced ‘No Cost EMI’ financing scheme so that online shopping is much more affordable for high-ticket purchases through EMIs where customers won’t have to bear additional costs.
Flipkart claims that its ‘No Cost EMI’ option doesn’t not lead to additional processing fee, down payment and will be available without any interest amount. This makes it a unique scheme, unlike offline offerings, where customers need to make a down payment and pay a processing fee to avail interest-free schemes. The company has also partnered key brands to create the offering, which is available for select products and sellers now. The scheme comes with loan tenures starting at three months up to 12 months