NEW DELHI Meta (formerly Facebook) on Tuesday announced a no-cost Equated Monthly installments (EMI) feature for advertisers to ease cash flow for small businesses in India. The free-cost EMI feature will allow advertisers to pay Meta for their advertising campaigns in EMI over three months through participating banks at no additional cost of interest to them.

Meta announced it will bear the applicable interest payable to the bank, and give it as an upfront discount to the business on its ad spends. With no-cost EMI billing, advertisers can opt any amount between Rs 3,200 and Rs 5 lakh to convert to EMIs.

The free EMI has been introduced for the first time in India within Meta. Meta also unveiled additional improved service support tools for all Indian advertisers at the second iteration of its "Grow Your Business Summit" event.

\Ajit Mohan, VP and MD (Facebook India) Meta, said, "With these announcements, every advertiser on Meta in India, regardless of their ad spending, has access to financial and service assistance, at the press of a button, to unlock new growth prospects."  For all of its active advertisers in India, Meta also announced 24-hour chat assistance. Meta has dedicated the past three years to making it simpler to obtain timely credit.

The journey began in 2020, when incentives for small firms in five Indian cities were announced as part of a $100 million global grant programme for small businesses. The scope of this programme has expanded to 19,000 pin codes across India verticlas 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 Meta.

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