Vodafone Idea and Bajaj Finance, the lending and investment arm of Bajaj Finserv Group, have teamed up to facilitate easy access to smartphones at "affordable" EMIs, alongwith 6 months and 1-year prepaid plans from the telco, according to a statement.
Under the pact, the EMI will be calculated on the basis of the total billed amount including the price of the smartphone and the recharge. Thereafter, the amount will be divided into 6 to 12 monthly instalments to derive the EMI amount, the statement said.
If a customer opts for the Rs 1,197 prepaid recharge of VIL for six months tenure, the EMI amount required to be paid by the customer will be Rs 200 instead of Rs 249 paid in open market recharges, the release said.
Similarly, where a customer opts for the annual recharge variant priced at Rs 2,399 for 12-months tenure, the EMI amount would be Rs 200 instead of Rs 299 open market recharges "thereby giving customers significant savings".
"Here the customer gets the unique advantage of being able to save by paying the amount on affordable EMIs," it said.
As part of the bundled offering, VIL customers choosing the prepaid recharge with a validity of 6 months, can get unlimited voice benefits along with 1.5 GB data a day at Rs 1197. Similarly, customers selecting 12 months recharge validity will get 2 GB data/day with unlimited voice benefits at a Rs 2399, it added.
Both offer 100 free SMS and free national roaming against the recharge, at the time of device purchase.
"Enhancing affordability in device financing, the partnership unlocks ease of 4G access for Vi customers, by enabling them to get a smartphone of their choice and an annual or half yearly Vi prepaid recharge plan at zero down payment and Easy EMIs," it added.
Avneesh Khosla, Chief Marketing Officer, Vodafone Idea said: “As COVID has fast tracked digital adoption, a smartphone has become a necessity in today''s digital society... This partnership, with its unique financing solution, enables ease of ownership of a smartphone...and the convenience of a worry-free recharge pack, allowing consumers to seamlessly enjoy the benefits of the Digital era".
Commenting on the alliance Manish Jain, Senior Executive Vice President, Bajaj Finance said: the partnership offers a proposition "to help a new mobile customer get unmatched comprehensive savings."
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