bKash, a leading mobile financial service provider in Bangladesh, has teamed up with Grameenphone and City Bank to make 4G and 5G smartphones more accessible to their customers. This collaboration will enable bKash users to obtain collateral-free nano-loans through City Bank, directly via the “Pay Later” option in the bKash app, for purchasing smartphones at Grameenphone Experience Centres and other designated sales points.
Customers can receive loan amounts ranging from Tk 500 to Tk 30,000 instantly through the bKash app. These loans can be repaid interest-free within 7 days; otherwise, they convert into a 3-month loan at an annual interest rate of 9%. Additionally, there is a 6-month repayment plan where customers pay 20% upfront and the remainder in six equal monthly installments.
Solaiman Alam, Chief Digital Officer at Grameenphone, expressed enthusiasm about the partnership, emphasizing the potential to enhance digital connectivity for more consumers. Ali Ahmmed, Chief Commercial Officer at bKash, highlighted the aim to enhance customer experiences through accessible, advanced digital services. Md Arup Haider, Deputy Managing Director and Head of Retail Banking at City Bank, praised the innovation and customer value added by this collaborative effort.
Moreover, Grameenphone is offering an exclusive data pack for smartphone users, available via the MyGP app, which includes 7GB of data for Tk 199 valid for 30 days, enhancing the overall digital experience for customers availing of the new smartphone financing options.