Bajaj Finserv through its lending arm Bajaj Finance Ltd. has launched a unique proposition through its campaign #BijliOnEMI wherein customers buying air-conditioners on EMI can avail an Insta Credit loan in their Bajaj Finserv Wallet which they can use to pay their electricity bills on EMI. The campaign is aimed to help their customers finance the high electricity bills that may arise due to extensive usage of conditioners during summer.
The decade from 2008 to 2018 has been the warmest years on record for India. Summers are harsher than before and the temperature is going up by 1-degree Celsius every year. This is expected to trigger early sales and will bring in a lot of first-time buyers in the market. In the year 2018, Bajaj Finance Ltd. financed the purchase of over 12 lakh air conditioners in the country. Out of which southern region has recorded the highest purchase of 3.8 lakh air conditioners.
Observing the purchase trend and electricity that is used to run air conditioners, Bajaj Finance Ltd. has launched the #BijliOnEMI campaign wherein customer buying air conditioners will also have the option to pay for their electricity bill on EMI.
Customers buying air conditioners of Rs 20,000 and above will be eligible for an Insta Credit loan of Rs 5000 and for those purchasing air conditioners above Rs 40,000 will receive Rs 7000 as an Insta Credit loan to their Wallet. This will assist the customer to pay the installations charges of the air-conditioner and their electricity bills on EMI, making it a complete financing option for the purchase.
The Wallet allows the customer to access the EMI network card digitally, for tracking loan-related details online, and transacting securely with EMIs on purchases. The Wallet app is accepted at over 1 million stores across the Mobikwik merchant network. Apart from this, the customer can pay bills, book tickets and transfer funds easily and seamlessly, at the touch of a button.