Nokia announced the launch of its Easy EMI scheme that will allow customers to buy their favourite Nokia handset and accessories and pay for it in three equal monthly installments (EMI) at zero percent interest.
Customers can purchase a Nokia handset and accessories in the price range of Rs.7,000– Rs.35,000 under this offer. The scheme will be available through over 176 Nokia Priority Partners (NPPs) across eight cities Delhi, Mumbai, Bangalore, Kolkata, Hyderabad, Chennai, Ahmadabad and Chandigarh.
Nokia has tied up with Citibank, HDFC Bank, Standard Chartered and ICICI Bank for the Easy EMI scheme and the offer will be available to consumers with credit cards (only) from any of these four banks. The four banks together have the target consumer base of 14.5 million providing Nokia an opportunity to extend the service to a large consumer base.
Shankar Subramanian, Head Retail, Nokia India says, “Mobile customers today are far more evolved in their aspiration, expectation and usage of a mobile handset. This trend is visible across segments from entry to the high end.
Our insight shows that many customers don’t end up buying their preferred handset model as it tends to be marginally above their pre decided budget, making upfront payment difficult. Our easy EMI scheme at 0% interest addresses that challenge and will allow customers to actually buy the handset they desire.”
Service charges for the Easy EMI scheme will be borne by Nokia and the customer or the NPPs will bear zero cost on the EMI transaction. All NPPs across eight cities will have Point of Sale (POS) terminals from all the four partner banks allowing customers the choice of making the transaction with a credit card from any of the four banks.