In EMI-terms, the Standard Chartered Bank Aasan Instalments plan would spread the total price over instalment tenures of 3, 6 and 12 months respectively.
On a 3 month instalment tenure, customers would pay Rs 29,000 per month. A year-long tenure would mean paying Rs 7,250 per month.
Instalment plans keep the price (and the product experience) fresh. Not only does the customer end up committing to the instalment plan, the extent to which said customer uses the product or service bought on EMI is greater, because the price remains vivid. This way, it not only brings convenience, but also simultaneously creates commitment to the consumer experience.
Four ways EMI brings added value to Daraz customers
1. It allows customers to spend smart
Even if a customer has funds available, not everyone has the luxury (or the desire) to deplete their cash on hand. EMI grants customers the flexibility to make purchases without having to feed into their cash reserves and also ensures readiness in the event of an emergency or other unforeseen circumstances.
2. It accommodates the unexpected
Instalment terms make it easier to squeeze in unplanned (but irresistible) purchases into one’s budget — especially important for those running a household on a tight budget. By taking advantage of deferred payment plans, customers have more latitude to spend without fear of financial setback.
3. It can impose structure and direction over one’s cash flow
When a purchase is converted into EMI, the customer opts for a tenured payment plan of their choice. Forecasting of finances is made easier in this way. One is at liberty to plan around their expenses. With the payment term option, one can spread out their payments and manage their monthly expenses better.
4. It enables the shopper to stretch the cost of their purchase(s) over a manageable period of time
Customers can enjoy the solace of knowing that their purchase equal to or above Rs 10,000 will not burn a hole in their pocket.
What’s next for EMI on Daraz.pk?
Combined with practical benefits and appeal to consumer-psyche, Daraz EMI can be expected to grow further and recruit more bank partners in the near future.
Standard Chartered was the first bank to introduce EMI on Daraz.
“Standard Chartered Pakistan, consistent with our brand promise of being Here For Good, is keen on building long-term alliances with reputable partners, leading to synergies and value addition for our card members," said Mr Shezad Arif, Head of Retail Banking at Standard Chartered. "The added benefit to our credit card offering is a tremendous achievement that reflects well on the commitment and success of both Standard Chartered and Daraz.”
With Daraz EMI facilitation, customers can now reap added value on a monthly basis.
Want to avail Daraz’s EMI facility on a range of tech and lifestyle products? Check out the ongoing Samsung week and download the Daraz app for more updates.
This content is a paid advertisement by Daraz.pk and is not associated with or reflective of the views of Dawn.com and its editorial staff.