LG joins hands with Bajaj Finance to offer products at no cost EMI
, ET Bureau|
Updated: Oct 11, 2017, 04.33 PM IST
KOLKATA: Bajaj Finance Ltd, the lending arm of Bajaj Finserv, has partnered with LG Electronics India to launch an exclusive co-branded card LG Bajaj Finserv EMI card. The card will allow customers to buy all LG products at no cost EMI option.
The card will allow customers to buy from over 20,000 outlets, around 700 LG exclusive brand shops and 3000 outlets for smartphones. The card can also be used to buy LG products across Bajaj Finance Ltd distribution network of 50,000 outlets. The no cost EMI option will be available to customers buying LG products on a minimum billing of Rs 7,000 and maximum up to Rs two lakh.
Bajaj Finance MD Rajeev Jain said the co-branded card is a disruptive proposition that will facilitate stronger customer convenience and stimulate higher spends.
LG Electronics India MD Kim Ki Wan said the offering will enable the company to strengthen relationship with consumers as now they will be able to buy the best of various products at easy payment options.
Bajaj Finance currently has 9.8 million EMI card user with a 30% market share in the consumer finance business. LG Electronics, on the other hand, has dominant leadership in the Indian white goods space. Around 40% of consumer durable purchases in India is led through consumer finance.
The card will allow customers to buy from over 20,000 outlets, around 700 LG exclusive brand shops and 3000 outlets for smartphones. The card can also be used to buy LG products across Bajaj Finance Ltd distribution network of 50,000 outlets. The no cost EMI option will be available to customers buying LG products on a minimum billing of Rs 7,000 and maximum up to Rs two lakh.
Bajaj Finance MD Rajeev Jain said the co-branded card is a disruptive proposition that will facilitate stronger customer convenience and stimulate higher spends.
LG Electronics India MD Kim Ki Wan said the offering will enable the company to strengthen relationship with consumers as now they will be able to buy the best of various products at easy payment options.
Bajaj Finance currently has 9.8 million EMI card user with a 30% market share in the consumer finance business. LG Electronics, on the other hand, has dominant leadership in the Indian white goods space. Around 40% of consumer durable purchases in India is led through consumer finance.
