Future Group and Bajaj Finserv on Tuesday introduced a co-branded credit card to finance purchase of anything from groceries to fashion, furniture and electronics at the former’s Big Bazaar, FBB, Central, Home Town and Ezone stores.
Current and new customers can use the so-called Existing Member Identification (EMI) card to avail of loans from Rs.5000 to Rs.3,00,000. The tenure of loan would be three months to two years.
“The next big wave of consumption in this country will happen through credit only,” Future Group chairman Kishore Biyani said at a press conference on Tuesday. “We have a vision to have one crore customers shopping for Rs.1, 00, 000 annually at our stores and this idea will make us achieve that goal. I believe Bajaj Finance Ltd is the best partner that can enable this in the quickest time possible,” he said.