E-commerce major Flipkart on Tuesday introduced “No Cost EMI” option to make online shopping affordable for high-end purchases through an attractive financing option of Equated Monthly Installments (EMI) where customers will not bear additional cost. Flipkart’s “No Cost EMI” entails zero processing fee, zero down payment and zero interest for customers. With the introduction of “No Cost EMI” option, Flipkart aims to enable more people to get access to products they aspire for. Also Read - iPhone 11, iPhone XR up for grab with massive discount on Flipkart Big Saving Days saleAlso Read - Flipkart Big Saving Days sale begins: Pixel 4a, Realme X7, Samsung Galaxy F62, more on discount
“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. Also Read - Flipkart Big Saving Days smartphone deals: Pixel 4a is star of the show once again
The company has partnered with Bajaj Finserv and key brands to create this offering which is available for select products and sellers for now. The offering comes with loan tenures starting 3 months up to 12 months.