Zomato's quick commerce arm Blinkit has introduced the EMI (Equated Monthly Installments) option on the app. This move is aimed at improving affordability for the customers.
The option is applicable for orders above Rs 2,999.
“We have introduced buying with EMI on Blinkit! EMI options will be applicable on all orders above ₹2,999 (except orders that contain gold and silver coins). We believe this will improve affordability and enable better financial planning for our customers," said Albinder Dhindsa, Founder of Blinkit.
The EMI plans are for up to 12 months. The option can be availed for credit cards of HDFC Bank at 16% interest rate and Rs 99 processing fee, SBI Bank at 15% interest rate and Rs 99 processing fee, ICICI Bank at 15.9% interest rate at Rs 99 processing fee, Kotak Mahindra Bank at 16% interest rate and Rs 199 processing fee, Axis Bank at 16% interest rate and 1% processing fee, RBL Bank at 13% interest rate and Rs 199 processing fee, and CITI Bank at 16% interest rate and 1% processing fee.
The move comes around the festive season, as consumer shopping during the period increases. At large the quick-commerce companies are also looking to compete with e-commerce giants in the country to expand their customer base and see increased order volumes and value.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
