Have you been saving up to buy that big ticket product from Flipkart? Put an end to the wait and effort. Flipkart No Cost EMI — a monthly installment-based payment scheme with no processing fee, no hidden costs, no down payment and no interest payout — takes you one step closer to making your wishes come true, no matter what the price tag. Here’s everything you need to know about it.
Over the years, Flipkart has brought revolutionary online shopping experiences to fulfill the wishes of customers. From Cash-on-Delivery (CoD), we have introduced new capabilities and pioneered change in the e-commerce space, making your online buying experience convenient, accessible and affordable. In continuation to these efforts and to improve your shopping experience, Flipkart has introduced the Flipkart No Cost EMI.
The innovative online financing option, a breakthrough in the consumer financing space, provides customers the opportunity to make shopping more affordable. Fact remains that less than 1% of our countrymen have access to credit cards and that traditional banking industry is still tackling the nitty-gritty of small personal loans. Flipkart No Cost EMI is a first step towards making online shopping truly affordable for the masses and holds the potential to disrupt the online payment space.
This is exactly why this simple and easy financing option has been introduced to help our customers buy what they require without the burden of expensive loan interests and fees.
Read on to learn more about how Flipkart No Cost EMI (brought to you in association with key brands) can give you access to premium priced products without burning a hole in your pocket.
Don’t break the piggy bank
A first-of-its-kind online financing option, the Flipkart No Cost EMI enables shoppers to access big-ticket products without bearing the burden of lump-sum payments. The service will let you skip the long wait and purchase your favorite products through Equated Monthly Installments (EMI) at no additional cost.
Unlike regular EMI offerings where customers need to pay a significant amount as a down payment, processing fee and interest on top, Flipkart No Cost EMI comes easy. The new service has zero processing fees, zero down-payments and zero monthly interest!
Pay a bit every month
Flipkart has partnered with all leading financial institutions to create this unique offering for you. The Flipkart No Cost EMI comes with loan tenures ranging from 3 to 12 months, making sure it doesn’t dent your savings. Based on the term of payment and cost of the product, an agreed amount is deducted every month until the loan term is completed.
The scheme is currently available for a select set of Brands and Products and can be availed from the convenience of your smartphone. Some of the Top brands — on the likes of Apple, Samsung, LG, Vu, Panasonic, InFocus, etc. — are participating in this program to make their high-end products within reach of masses.
Getting started with Flipkart No Cost EMI
To avail this scheme, all you need is a credit card or a Bajaj Finserv EMI Card. Once you select a pre-approved loan amount, you have the freedom to buy the products of your choice. At the time of purchase, you can choose the duration of your interest-free loan. The installment amount will be charged directly to your card much like any other card transaction.
What’s new in No Cost EMI this year?
Now that we have covered all the basics that you need to know about Flipkart’s No Cost EMI scheme, here are some fresh additions to make your shopping even more convenient.
- What makes shopping with No Cost EMI different on Flipkart? Customers that shop on Flipkart can avail this option on their credit cards and also with Bajaj Finserv EMI Card. Flipkart is the only online marketplace that gives this option.
- Earlier, customers could only ‘checkout’ or complete the transaction for a single product while using the No Cost EMI payment option on Flipkart. Now, shoppers can avail the scheme for up to five products in a single transaction.
- Last year only select products were available for purchase with No Cost EMI. This year, nearly a million products from leading brands like Samsung, Sony, Dell, Oppo and Vivo will be available for purchase through the No Cost EMI scheme.
In May 2016, Flipkart announced No Cost EMI in association with Bajaj Finserv. These are stories of delight from customers who availed of the facility
4 simple steps to apply for Flipkart No Cost EMI
Below are 4 simple steps to apply for Flipkart No Cost EMI. Make sure you have your Bajaj Finserv Card or credit card ready before you start. Remember, the No Cost EMI option is currently available only for select products and sellers on Flipkart.
Step 1: Open the Flipkart mobile app and choose/search for the product you want to buy.
Step 2: On the product page, check whether ‘No Cost EMI from Rs. XX’ is mentioned. If yes, you can avail this service for the product. Read the Term & Conditions by clicking on the link.
Step 3: Click on ‘Buy Now’ and move to ‘Proceed to Pay’. Select ‘EMI’ as the payment method and then click on No Cost EMI button on ‘Place Order’. You can select ‘Bajaj Finserv or your credit card’ as your payment option.
Step 4: Choose the EMI tenure from the next screen and continue to fill in your Bajaj Finserv Card or credit card details. In case of Bajaj Finserv you will receive an OTP to your registered mobile number, which you need to enter on the Flipkart mobile app. Verify the OTP and you are done. In case of credit card you will be able to finish the transaction like any other credit card transaction by either entering your ipin or OTP.
Planning to buy some big ticket products on Flipkart? Learn more about the Flipkart No Cost EMI by clicking on this FAQs link for more information.