New Delhi: E-commerce major Flipkart on Tuesday said that it has started a new payment mode for select high ticket size purchases on its platform where customers will not be required to pay additional cost on monthly instalments.
Unlike offline offerings, where customers need to make a down payment and pay a processing fee to avail interest free schemes, Flipkart's offering has no such hidden costs, the statement said.
Flipkart 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 of 3-12 months.
Flipkart's 'No Cost EMI' option entails zero processing fee, zero down payment and zero interest for customers, the statement said.
This offer is currently available on mobile app only and will be gradually introduced for website purchases.
Customers opting for it will need to have a purchase card issued from Bajaj Finserv.