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Myntra gets its EMI down to Rs 50

The Online Fashion Retailer Myntra is introducing EMIs of as low as Rs.51 to its customers for a month who are purchasing the clothes in its online store.

EMIs option are typically
opted to credit card purchases of most expensive items where monthly instalments could be offerdable. With the introduction of new feature by Myntra some products which are to be purchased for Rs 1,300 or even less gets EMIs option of Rs.50.

Myntra sources claims that this EMIs feature has been introduced to encourage consumers who can buy first and pay later. Young Buyers can opt for this EMIs option which will help Myntra to compete with other retailers. Myntra has tied up with HDFC Bank, ICICI Bank, Citi, State Bank of India, Kotak Mahindra Bank, Amex, HSBC and others, which will charge 13% to 15% interest on credit card purchases of selected items that can be paid over three to 24 months.

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