Meta (formerly known as Facebook) has announced to launch of the no-cost EMI feature for advertisers in the Indian market. This feature will enable advertisers to have the easy cash flow for small businesses in the country.
The no-cost EMI feature will enable the advertisers to pay Meta for their advertising campaigns in equated monthly instalments for over three months through the participating banks without any further additional cost of interest.
Meta has declared to bear the applicable interest which is payable to the bank and additionally, will give an upfront discount to the business on its ad spends.
With the no-cost EMI billing feature, advertisers will get a chance to choose any amount from Rs 3200 till up to Rs 5 lakh to convert their EMIs.
It has further been stated that India is the first country where Meta has launched the no-cost EMI feature for advertisers.
In the second edition of its 'Grow Your Business Summit' in India, Meta further announced the other enhanced service which will support features for all advertisers in the nation.
Ajit Mohan, VP and MD (Facebook India) Meta said, "With these announcements, every advertiser on Meta in India, irrespective of their ad spends, has access to financial and service support, at the click of a button to unlock new growth opportunities."
Recently, Meta announced a 24x7 chat support facility for all its active advertisers in India. And over the last three years, Mark Zucherberg-owned Meta has been committed to enabling easier access to timely credit.
The journey started in 2020 when as part of its $100 million global grant for small businesses, grants were announced for small businesses across five cities in India.
In 2021, Meta launched the Small Business Loans initiative to enable business loans for small business advertisers through third-party lending platforms.
The scope of this programme has expanded to 19,000 pin codes across India and people can now apply for collateral-free business loans from as little as Rs 30,000 to as much as Rs 1 crore, said the company.
Inputs from IANS
