Amazon launched a new plan for Prime members on Tuesday, which allows them to purchase new smartphones with lower monthly installments by increasing their tenure. The program is called “No Cost Advantage EMI” and currently only applies to major members who conduct EMI transactions through HDFC bank credit or debit cards. The e-commerce giant claims that Prime members can reduce the monthly EMI of smartphone purchases by 50% through a new plan. It can be considered that this is a competitive move with Flipkart. Flipkart also has a Flipkart smart upgrade plan specifically for some Samsung phones.
According to the official details provided by the press release, the “Advantage No Cost EMI” program coexists with the existing no cost EMI advantages of select smartphones. Its main purpose is to reduce the monthly installment burden for customers who buy new smart phones.
The plan does not bring any new discounts, but only allows Amazon Prime members to extend their installment period and reduce the monthly amount payable by up to 50%. So, for example, if you have to pay Rs. In order to get a smartphone, you need to pay 5,000 per month (six months), and the “Advantage No Cost EMI” plan allows you to change it to Rs. 2,500 per month for 12 months.
To use the option to increase the tenure, you can click on the EMI option available on the product page of any qualified smartphone listed on Amazon. This will give you the option to extend the period of free EMI purchases to 12 months.
Amazon has launched a “no cost advantage” EMI program specifically for specific smartphones. These include iPhone 12 mini, Samsung Galaxy M21, Samsung Galaxy M31s, Oppo A15 and Oppo Find X2 Pro.
Amazon’s new move may persuade Indian consumers to increase the budget for buying their preferred smartphone.
Flipkart’s Flipkart Plus members do not have similar EMI procedures. On the contrary, it launched the “Smart Upgrade Program” in cooperation with Samsung in October last year, which provides repurchase discounts for Samsung smartphone upgrades through credit and debit card EMI transactions. The company, which is owned by Wal-Mart, claims that customers who use the smart upgrade plan only need to pay 70% of its price to buy a new smartphone.
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