On Thursday Budget passenger carrier SpiceJat launched a unique ticket purchase scheme through which passenges can pay through EMI.
Debojo Maharshi, chief marketing officer of SpiceJet was quoted in a statement that,”We are confident that this scheme will make air travel more economically-viable than ever before for those customers who want to travel now, but pay later.”
Company said,”The facility is available for booking made through the SpiceJet website. In case of refunds, customers will have to bear the cost of the interest rate already billed for that particular booking.”
Coming to interest,the interest charged through the EMI scheme will range between 12 and 14 percent.By comparing to the typical credit interest this scheme charges excess of 36 percent.
The company pointed out that for a ticket costing Rs.5,000, this scheme can result in savings of over Rs.1,000 in terms of interest charges.