Urban Ladder ties up with Bajaj Finance limited to offer interest free EMI payment option
The online furniture company is making high ticket purchases easier by introducing a new payment option. Read more
The online furniture company is making high ticket purchases easier by introducing a new payment option
Bangalore, 1st July’14: Online furniture company Urban Ladder has joined hands with Bajaj Finance Limited (lending arm of Bajaj Finserv), the market leader in EMI finance in India, to offer interest free EMI payment option to its customers. Bajaj Finserv’s EMI finance facilitates easy down payment and convenient monthly EMIs, for paying the remaining balance of the purchase. Urban Ladder is the first e-commerce site in India to offer this payment option which was launched last week, to the customers with Bajaj Finserv. The total cost of the purchase just gets divided into 12 equal installments (with tenure option of up to 24 months). The customer is required to pay only 4 installments as down payment. The rest of the installments are paid through automated electronic transfers.
Rajiv Srivatsa, COO & Co-founder, Urban Ladder said, “At Urban Ladder, we continuously strive to make furniture shopping easier for our customers. Since furniture is a comparatively high ticket purchase, ease of payment helps make speedier purchase decisions. We are confident that this hassle free payment option will immensely help our customers.”
Several orders have already been placed through this payment option, especially for products such as sofas, beds, wardrobes and dining sets. The average ticket size of the company’s products is Rs. 20,000, which is the highest in Indian e-commerce market. This payment facility aims to further boost sales of some of its best selling consumer durables such as sofa sets and beds.
“Our business model is built on the technological platform that allows us to extend loan approvals on the spot. The idea is to not just give finance but also flexibility and peace of mind to the customer. Our partnership with Urban Ladder is a reiteration to our role in our customer’s life of enabling better realities”, said Devang Mody, President – Consumer Finance, Bajaj Finance Ltd.
The company is receiving favorable responses on this finance option, since its launch.
About Urban Ladder
Urban Ladder was launched by co-founders Ashish Goel (CEO) and Rajiv Srivatsa (COO) in July 2012 with the aim of providing a curated destination for home solutions, to help the urban Indian consumer build beautiful homes. The website provides shoppers with a wide range of contemporary designs of high quality, handcrafted furniture that blends beauty with functionality. The furniture is personally delivered and installed by Urban Ladder’s own logistics team for safe delivery.
About Bajaj Finance Ltd.
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 6 million customers across the country. Headquartered in Pune, the company’s product offering includes Consumer Durable Loans, Lifestyle 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. Bajaj Finance Limited prides itself for holding the highest credit rating of FAAA/Stable for any NBFC in the country today.
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For Urban Ladder: Suruchi Jajoo | +91-9739388168 | firstname.lastname@example.org