Vivek Pvt. Ltd., a leading consumer electronics and home appliances retail chain and Bajaj Finserv, a financial services giant, have collaborated to enhance purchase power of the consumers with one-of-its-sort EMI Privileges Card. Through this card, customers can choose Easy EMI as a payment method for their purchases of Consumer durables at all Viveks stores at zero percent interest. This is a smarter payment option which is real time and at the point of sale offering – Swipe, Sign and Buy experience.
This card provides buyers quick access to EMI finance with less documentation while allowing them enjoy exclusive and customized offers from Viveks as well as communication of best offers from Bajaj Finance for all categories as per propensity module.
Pre-approved Credit limit on the co-branded store card is from INR 15,000 to 3,00,000/-. Using this limit, customers can buy any durable from INR 7,000 onwards and convert into Easy EMIs. Repayment tenure would be from 8 months to 24 months. For credit services through the card, the customer needs to pay a minimal annual fee of Rs. 349 for the first year, further there will not be any renewal fee.
Bajaj Finance Limited already provides credit to close to 8 million customers at POS (Point of Sales) currently for its CD/ Mobile and Furniture customers. This experience combined by Consumer insights from Viveks will enable partnership to provide better proposition to consumers. For existing customers, the limit will be leveraged at POS.