July 24 (TravelAndy): Indian low-cost carrier SpiceJet on Thursday introduced an equated monthly installment (EMI) scheme for passengers.
This scheme allows flyers to pay for their tickets any time within three to 12 months from the date of purchase.
Passengers holding credit cards issued by Axis Bank, HSBC Bank, Standard Chartered Bank and Kotak bank can currently benefit from this scheme. The airline has assured to add other banks shortly.
The interest rates in this scheme will range between 12 to 14 per cent, which is less compared to the average credit card interest rate in excess of 36 per cent.
For an INR5000 ticket purchased under this scheme, a passenger can save over INR1000 in terms of interest, the airline claimed.
“We are confident that this scheme will make air travel more economically viable for those customers who want to travel now, but pay later,” SpiceJet chief marketing officer Debojo Maharshi said.
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