About Low Cost EMI Offers
Provide Low Cost EMI Offers to customers at the Razorpay Checkout.
With Low Cost EMI, you can now balance providing affordable financing to customers while maintaining a sustainable financial model. You can decide the cost to subvent for each EMI tenure and the customer bears the remaining cost. This approach ensures that customers enjoy the benefits of EMI at an affordable price, helping you minimise the overall cost.
Handy Tips
You can create Low Cost EMI Offers on Credit and Debit card EMIs only.
- Attracts more customers put off by high upfront costs, resulting in up to 20% sales boost.
- Businesses maintain financial health by sharing EMI costs with customers, thus balancing their books effectively.
- Offering extended EMI plans encourages customers to afford and consider premium products, ultimately boosting the average order value by up to 30%.
- Razorpay's user-friendly offer engine streamlines Low Cost EMI implementation with a few clicks, reducing entry barriers for businesses.
Handy Tips
An EMI discount will be applied to the customer's purchase to partially cover the interest the bank charges. For example, if the bank's interest is 4.5%, you can partially cover 3%, and the customer bears the remaining 1.5%.
Let us consider the example of a customer buying a mobile phone worth ₹15,000 on Low Cost EMI on a 3-month EMI period. The bank charges 16% interest per annum.
The Low Cost EMI calculation is given below:
Watch Out!
Razorpay pricing is not included in this. It is applied in addition to the above amount.
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