LG and Bajaj Finserv partner to bring India's 1st OEM Co-branded Finance Card
New Delhi, October 11, 2017: Bajaj Finance Ltd., the lending
arm of Bajaj Finserv, India’s most diversified financial company and LG
Electronics India, India’s leading consumer and electronic company, today announced
the launch of an exclusive co-branded card LG Bajaj Finserv EMI card. The
co-branded card will enable customers to buy all LG products at no cost EMI
option across all LG formats.
TheBajaj Finserv LG EMI card will allowcustomers to buy from the wide
range of LG Home appliances and Electronics products across its 20,000+
outletsand around 700 LG exclusive Brand Shops and 3000 outlets for smartphones.
Card has a pre-approved credit
limit and a loyalty program exclusively offered to LG customers. This
card can also be used to buy LG productsacross Bajaj Finance Ltd distribution
network of 50,000+ outlets with no processing fee, no hidden costs, no down
payment, and without any interest pay out.
Announcing the partnership Mr.
Rajeev Jain, Managing Director, Bajaj Finance Ltd said, “We believe in the
potential of technology and process innovation to disrupt the status quo and
build large scale, sustainable businesses.The Bajaj Finserv LG co-branded card
is a disruptive proposition that will facilitate stronger customer convenience
and stimulate higher spends.”
Commenting
on this occasion, Mr. Kim Ki Wan,
Managing Director, LG Electronics India said, “As we enter this year’s
festival season, LG is proud to announce the first of its kind strategic
partnership with BFL to introduce our new co-branded store card. This offering
will enable us to strengthen our relationship with our Indian consumers as now
they will be able to buy the best of various products at easy payment options.
We are ready to deliver on our core philosophy “Life’s Good” at the start of
the celebrations.”
The no cost EMI option will be available to customers buying LG
products on a minimum invoice amount of Rs. 7,000 and maximum of up to Rs. 2,00,000.
The customer has an option to select the repayment tenure between 8 to
24months. Additionally, customers can choose to foreclose their loan anytime
without any extra charges.
The same EMI option will also be available to the existing Bajaj
Finserv EMI Card users. Company currently has 9.8million EMI card user with a 30%
market share in the consumer finance business.
About
Bajaj Finance Limited
Bajaj Finance
Limited, the lending and investment arm of Bajaj Finserv group, is one of the
most diversified NBFCs in the Indian market catering to more than 21 million
customers across the country. Headquartered in Pune, the company’s product
offering includes Consumer Durable Loans, Lifestyle Finance, Digital Product
Finance, Personal Loans, Loan against Property, Small Business Loans, Home
loans, Credit Cards, Two-wheeler and Three-wheeler Loans, Construction
Equipment Loans, Loan against Securities and Rural Finance which includes Gold
Loans and Vehicle Refinancing Loans along with Fixed Deposits and Advisory
Services. Bajaj Finance Limited prides itself for holding the highest credit
rating of FAAA/Stable for any NBFC in the country today.