22nd June 2023, Kathmandu
Samsung launched its new affordability program – Insta Finance a 0% interest rate financing facility for consumers purchasing smartphones priced above NPR 25K.
This initiative aims to drive financial inclusion whereby consumers all over Nepal can access easy credit and financing services and buy the smartphone of their choice.
Smartphones have become a necessity these days. People have become so dependent on their phones that it is impossible to imagine our life without a smartphone.
Additionally, as the world is going digital, and people are becoming more technologically equipped, there has been an increasing demand for better smartphones. People are looking to upgrade to a better smartphone but are restricted by their spending capacity.
Keeping this trend in mind, Samsung Nepal has taken the initiative to launch the Insta Finance facility in collaboration with Hulas Fin Serve (HFL) to help people upgrade. Samsung Insta Finance is hassle-free, instant financing solution at a 0% Interest Rate on EMI.
“At Samsung, we believe consumers are the core drivers of our brand. We thrive to understand their needs and requirements and deliver our best products and services and Insta Finance is one such key initiative. Samsung Insta Finance is our consumer-centric innovation that can easily upgrade consumers to its innovative cutting-edge technology” said Pranaya Ratna Sthapit, Director, Samsung Nepal.
Initially, Samsung is launching Insta Finance in over 200 stores in all major markets of Nepal. Samsung plans to expand the program throughout its network in the next month. This program is a great initiative started by a brand like Samsung to make their devices more affordable and accessible. Consumers can avail of this offer at a 0% interest rate EMI which is a great offer for the ones who want to upgrade to a better smartphone experience at a small amount per month.
How does Samsung Insta Finance work?
The process is very simple, hassle-free, and instant and does not even require a credit card to do so. Consumers can get an instant loan in a few simple steps.
They need to visit the store offering Insta Finance service with the required documents (Applicant Citizenship Card and Photo, Guarantor Citizenship, and Photo and Income documents of applicant). Once the backend verification is completed, consumers can sign the legal documents and receive the smartphone of their choice.
This program is beneficial for all the stakeholders- the consumers and the smartphone retailers. The consumers will be able to get easy access to loan facilities, and purchase or even upgrade to the smartphones of their choices at a minimal cost.
The sellers will be able to generate more revenue by upselling the consumers to a better device. Hence, it is a win-win situation for everyone.