Photo Credit: Reuters
Amazon on Tuesday launched a new programme for Prime members that allows them to purchase a new smartphone at lower monthly instalments by increasing the tenure. Called ‘Advantage No Cost EMI', the programme is currently limited for Prime members making payments through an HDFC Bank credit or debit card for EMI transactions. The e-commerce giant claimed that Prime members can reduce the monthly EMIs on smartphone purchases by 50 percent with the new programme. It can be considered as a competitive move against Flipkart that also has its Flipkart Smart Upgrade Plan exclusively for select Samsung phones.
As per the official details provided through a press statement, the ‘Advantage No Cost EMI' programme sits alongside existing no-cost EMI benefits on select smartphones. It is essentially aimed at reducing the monthly instalment burden on customers purchasing a new smartphone.
The programme doesn't bring any new discounts but simply allows Amazon Prime members to extend the tenure of their instalments and reduce the monthly payable sum by up to 50 percent. So, for instance, if you were to pay Rs. 5,000 a month for six months to get a smartphone, the 'Advantage No Cost EMI' programme lets you change it to Rs. 2,500 a month for 12 months.
To avail the option of an increased tenure, you can click on the EMI options available on the product page of any eligible smartphones listed on Amazon. This will give you the option to increase the tenure of your no-cost EMI purchase up to 12 months.
Amazon has brought the Advantage No Cost EMI programme specifically for select smartphones. These include iPhone 12 mini, Samsung Galaxy M21, Samsung Galaxy M31s, Oppo A15, and Oppo Find X2 Pro, among others.
The new move by Amazon could persuade Indian consumers to stretch their budget for a preferred smartphone.
Flipkart doesn't have a similar EMI programme for its Flipkart Plus members. Instead, it launched a Smart Upgrade Plan in partnership with Samsung in October last year that offered a buy-back discount for Samsung smartphone upgrades through credit and debit card EMI transactions. The Walmart-owned company claims that customers availing the Smart Upgrade Plan would be able to get a new smartphone by paying 70 percent of its price.
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