Samsung extends Finance+ platform for quick loans on electronics, appliances

Samsung, India’s largest consumer electronics brand, has launched its popular digital lending program Samsung Finance+ for consumers to buy its wide range of consumer electronics products this festive season.

This initiative aims to drive financial inclusion and strengthen Samsung’s vision of Powering Digital India. Through Samsung Finance+, consumers across the country will be able to access easy credit and buy their favourite Samsung consumer electronics products such as TVs, soundbars, refrigerators, washing machines, microwaves, and air-conditioners and upgrade their lifestyles.

Samsung Finance+ is a simple, universally accessible digital lending platform wherein consumers will be able to upgrade to their favourite premium Samsung consumer electronics product by getting a loan sanctioned within 20 minutes at retail stores across the country.

“At Samsung, consumers are at the heart of everything we do. Samsung Finance+ is a testimony to our consumer-centric innovation and will help drive financial inclusion, furthering our commitment to Powering Digital India. We are positive that Samsung Finance+ will touch the lives of millions of consumers, especially those who are new to credit and are in semi-urban and rural markets,” said Mohandeep Singh, Senior Vice President, Consumer Electronics Business, Samsung India.

To start with, Samsung is launching Samsung Finance+ at around 3,000 consumer electronics stores in 1,200 cities across the country. Samsung plans to take Samsung Finance+ to more than 5,000 retail outlets in appx 1,500 cities by the end of 2022, supporting consumers during the festive period.

The Samsung Finance+ platform was developed in India at the Samsung R&D Institute Bangalore (SRI-B), where engineers worked closely with the Samsung India team to assess consumer requirements and design the features of the platform. The entire engineering, design and development of this platform was done out of SRI-B.

How does Samsung Finance+ Work?

Consumers can avail a loan under Samsung Finance+ in a few simple steps. They simply need to visit the nearest select Samsung retail store with the requisite documents, ask for the Samsung Finance+ desk and submit the e-documents for KYC verification. Once KYC verification and credit scoring is done, loan is disbursed with easy EMI payment plans within 20 minutes. Once completed, consumer can easily buy their favorite Samsung product without any hassle.

Key Features of Samsung Finance+

  • Fully Digital: Consumers enjoy a paperless journey with the in-store Samsung promoter assisting the consumer through the process
  • Customized offers for everyone: Nearly all consumers applying for finance end up getting an offer on the Samsung product they want to buy
  • Universally Accessible: Wide reach in India through Samsung’s strong retail presence across the country