bKash has joined hands with Grameenphone and City Bank to offer ‘Pay Later’ service for their joint customers to make 4G and 5G smartphones affordable, said a press release.
Under the arrangement, eligible bKash customers will be able to avail of City Bank’s nano-loan-based collateral-free Pay Later option in the bKash app to purchase smartphones from Grameenphone Experience and its smartphone partner brand sales points having bKash merchant accounts.
Under the Pay Later service, customers will get a limit of Tk 500 to Tk 30,000 loans instantly through bKash app.Â
Customer can fully repay the amount in 7 days without any interest, if not, then that Pay Later will convert into a 3-month loan with a 9 per cent interest per annum.
In the 6-month repayment option, a customer needs to make an upfront payment for 20 per cent of the total payment amount and the remaining 80 per cent will be divided into six equal monthly instalments.
The instalments will be paid automatically on the specified date of every month. Customers will also have the option of early repayment.
A one-time processing fee would be applicable in Pay Later service.