Flipkart extends additional benefit on EMI offerings, opens credit line of up to Rs 70,000; Know how to avail ‘Flipkart Pay Later’ EMI facility

Flipkart has extended additional benefits on EMI offerings to cheer its customers. It has also recently announced that its Big Billion Days sale 2021 will be coming soon. However, the dates have not yet been revealed.

The e-commerce giant has extended benefits on its ‘Flipkart Pay Later’ offering to drive affordability and convenience of purchases on its platform.

The ‘Flipkart Pay Later’ EMI facility opens a credit line of up to Rs 70,000 that can be paid back over flexible tenures of 3, 6, 9 and12 months for eligible customers, enabling them to purchase products this festive season.

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With this expansion, online consumers beyond the 100 million who do not have direct access to credit to fulfil their shopping needs will also be able to apply for the product by providing the required information.

"With ‘Flipkart Pay Later’ becoming an open to all construct, Flipkart aims to bridge the gap between access to credit and consumers aspirations, making this festive season better than ever for consumers across the country," Flipkart said in a statement.

Flipkart will also be offering no-cost EMI offers across a wide range of products, as well as standard EMIs — in partnership with 18 leading banks and financial companies including American Express, Axis Bank, Bajaj Finserv, Bank of Baroda, Citibank, Federal Bank, HDFC Bank, Home Credit, HSBC, ICICI Bank, IDFC FIRST Bank, IndusInd Bank, J&K Bank, Kotak Bank, RBL Bank, Standard Chartered, SBI, Zestmoney and others.

The tenures for no-cost EMIs and standard EMIs will be up to 12 months and 36 months respectively.

To access ‘Flipkart Pay Later’ EMI facility, users simply need to enter their PAN and Aadhar details on the app, verify the Aadhaar number with an OTP, and verify their bank account details. On making their purchase, users can select ‘Flipkart Pay Later EMI’ as their payment option and choose their preferred tenure. The application process is quick and frictionless, and customers can manage their account easily through the Flipkart app.