Social Media Giant Meta Brings No-Cost EMI Scheme For Indian Advertisers

The social media behemoth Meta has launched a No-Cost EMI feature for advertisers in India to allay concerns about working cash. With the help of this new function, advertisers will be able to pay Meta for their marketing campaigns over a three-month period in monthly instalments.

This three-month period, however, might be extended after consultations with regulated partners. According to an official statement from Meta, of all its current markets, India saw the first launch of the financial support feature. The new function was presented by Meta during the yearly Grow Your Business Summit.

With the help of this new feature, marketers will be able to pay for their campaigns through participating banks in equalised monthly payments without incurring any additional interest costs. According to the social media company, it will cover any interest that must be paid to the bank and give the company a discount upfront on any advertising expenses. Advertisers can select any amount from INR 3,200 to INR 5,00,000 as part of this No-Cost EMI by using credit cards from partner banks.

Currently, 12 banks' credit cards are supported by no-cost EMIs, including Citibank, HDFC Bank, Axis Bank, Kotak Bank, ICICI Bank, SBI, IndusInd Bank, HSBC Bank, RBL Bank, Standard Chartered Bank, Yes Bank, and Bank of Baroda. As it has launched 24-hour chat support for all of its active advertisers in India, Meta is also making it simpler for small businesses in that country to get prompt answers to their questions.

Ajit Mohan, VP and MD (Facebook India) Meta, stated, With these announcements, all advertisers on Meta in India, regardless of their ad spends, now have instant access to financial and service support, at the click of a button to unlock new growth opportunities. We are committed to building India-focused solutions bearing in mind their particular needs. We recognise that each organisation is on a unique journey.

last year, Meta introduced The Small Business Loans Initiative to give its small business advertisers access to loans through external lending marketplaces. This service has now been extended to more than 19000 pin numbers in India. Because of this growth, Meta marketers in even the tiniest towns and villages can now apply for business loans without collateral ranging from INR 30,000 to INR 1 Cr.