A study on Influence of EMI process on sales of bajaj electronics

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A STUDY ON INFLUENCE OF EMI PAYMENTS ON
SALES OF BAJAJ ELECTRONICS
At
BAJAJ FINSERV
A PROJECT REPORT
Submitted by
A YESHWANTH REDDY
Under the guidance of
C SATISH KUMAR
in partial fulfilment for the award of the degree
of
POST GRADUATE DIPLOMA IN MANAGEMENT
ICBM-School of Business Excellence
Plot No. 2A, Ishwar's Abode, Upperpalli 'X' Roads, Right to Pillar No.
179, Attapur, Hyderabad, Telangana 500048
JULY 2018

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ICBM-School of Business Excellence
BONAFIDE CERTIFICATE
Certified that this project report “A STUDY ON INFLUENCE OF EMI
PAYMENTS ON SALES OF BAJAJ ELECTRONICS” is the bonafide work
of “A YESHWANTH REDDY” who carried out the project work under my
supervision.
Prof. S. Zarar C. Satish Kumar
(Principal) (Internal guide)

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UNDERTAKING
I declare that the work presented in this project titled “A STUDY ON
INFLUENCE OF EMI PAYMENTS ON SALES OF BAJAJ
ELECTRONICS”, submitted to MARKETING, ICBM-School of Business
Excellence for the award of the Post Graduate Diploma in Management
(PGDM), is my original work. I have not plagiarized or submitted the same work
for the award of any other degree. In case this undertaking is found incorrect, I
accept that my degree may be unconditionally withdrawn.
Date A. YESHWANTH REDDY
Hyderabad

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ACKNOWLEDGEMENT
It is my privilege to undertake the project titled “Influence of EMI on sales of
Bajaj Electronics”.
I convey my deep sense of gratitude and sincere thanks to Dr. S. Zarar & Dr.
Ritu Zarar, Principal & Director - INSTITUTE OF COMPUTER AND BUSINESS
MANAGEMENT - School of Business Excellence, who helped me in successful
completion of the project. And my special thanks to Prof. Jitender Govindani -
Director Academics who helped me all the way for my success in future. I
take this opportunity to express my profound gratitude and deep regards to
my Mentor Mr. Satish Project Guide. The help and guidance given by him
time to time shall carry me a long way in the journey of life on which I am
about to embark.
I also take this opportunity to express a deep sense of gratitude to company
guide Mr. Chaturvedi -Sales manager of consumer durable finance at Bajaj
Finserv, Hyderabad for helping me and giving me this opportunity and found
time in their busy schedule and for their cordial support, valuable information
and guidance, which helped me in completing this task through various stages.
Last but not the least; I am thankful and indebted to all the respondents, who
helped me directly and indirectly in completion of this project report.

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Abstract
Equated monthly instalments is an excellent strategy to attract the customers,
because mostly customers don’t buy if they have any financial problems but,
after arrival of EMI facility customers are happily purchasing on EMI basis. It
can increase loyalty, attract promising new customers, lower your acquisition
costs and help keep your company top-of-mind for the company. The latest
product and technological developments in the international credit card
facilities are developed in the Indian market.
This study is all about that influence of the EMI schemes on the Bajaj
electronics. There are few companies that are offering finance facility as
consumer durable loan to the customers by easy approval with 0% interest by
taking a few documents and help the customers in buying the product. The
customers will pay that loan on EMI basis.
This study analyses and interprets the data obtained by a survey conducted
based on a structured questionnaire. By this study we can know the customers
perception towards EMI purchases and motivational factors that influence
them to purchase on the EMI payment.

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Table of contents
chapter Title of chapter Page numbers
1 1.1 introduction
1.2 Objectives of study
1.3 Scope of the study
1.4 Research methodology
1.5 Data source
1.6 Data analysis method
1.7 limitations
8-10
11
12
13
13
13
14
2 Review of literature 17-21
3 Industry profile
Company profile
22-26
27-32
4 Data analysis and interpretation 33-54
5 Findings
Suggestions
conclusion
55-57
58
59
6 Bibliography 60-61
7 questionnaire 62-64

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INTRODUCTION
An equated monthly instalment (EMI) is a method of paying the total amount
in small instalments which are called as equated monthly instalments are used
to pay both interest and principal each month over several years, the loan is
paid off in full.
A consumer durable loan is a finance option for the purchase of household
appliances, electronic goods, automobiles, furniture, jewellery, and sporting
goods.
Lenders check your annual income and credit history of the individual and lend
the loan. Since consumer durable loans are unsecured loans, lenders
particularly look at your repayment history and CIBIL Score (Credit Information
Bureau India Limited). It is advisable to check your CIBIL Score on a regular basis
and make sure there are no errors and the overall report looks positive to the
lender.
Documents that are required to seek a consumer durable loan vary from lender
to lender. Generally, the list of documents includes: Identity proofs such as
PAN Card, Voter’s ID, Aadhar Card etc and Address proof such as Passport,
Driver’s License, Electricity Bill.
Consumer durable loans generally have flexible period for paying back ranging
from 8 to 36 months.
Bajaj electronics is a platform that offers home appliances and electronic
gadgets of various companies for sale. Customers can buy on cash basis and
financing facility is available inside the store for giving consumer durable loan
offered by four companies.
They are – Bajaj
finserv,
Capital first,
Tata capital, HDFC.
Features of the following companies

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Bajaj finserv (data taken from the company website)
Loans up to Rs. 4 lakhs
Get a loan up to Rs. 4 lakhs to buy the latest electronics on easy EMIs only on
the EMI Network.
Flexible EMI period.
When you buy something on the EMI Network, you can choose a repayment
tenor that fits your budget the best, up to a maximum of 24 months.
EMI Card
The Bajaj Finserv EMI Card helps you buy the latest electronics on easy EMIs
with a simple swipe.
Instant approval
Waiting for days to get an approval is a thing of the past. Fill an online form or
talking in-store with representatives for instant loan approval.
Nil foreclosure charges
If you choose to foreclose your loan any time after the first EMI is paid, you can
do so without any additional charges.
Minimal documents required
The documents required to buy electronics on the EMI Network are minimal.
They include an address proof, a photo ID, a photograph, and a cancelled
cheque.
Access to an online account for customers
Everything about your loan, from the amount due, payment schedule, interest
certificates, is easily available online.
Features of capital first (data taken from the company website)

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• Instant online approval in 2 minutes
• Maximum tenures of up to 36 months
• Get approval online, walk in to the store and walk out with the product
• 0% Interest Charges and Minimal Documentation
Features of Tata capital first (data taken from the company website)
• On-spot approvals
• 0% interest and minimal documentation
• Enhanced loan limit up to Rs 5 lacs and tenure up to 36 months
• No hidden charges, NIL foreclosure charges
• Enhanced approved limits for applicants desirous of availing finance of
Credit Life Insurance / Extra Warranty.
Features of HDFC (data taken from the company website)
• Maximum possible finance
• Low interest rate
• Low processing fee
• Wide range of products are available for purchase.
People can purchase products that they cannot afford to buy on cash basis .so,
EMI purchase is the best option for the problem of the financial hurdle faced
by customers.

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OBJECTIVES OF STUDY
 To find factors that motivate customers to buy in EMI method.
 To find the impact of EMI documentation on customers of Bajaj
electronics.
 To know the customer perception on the EMI purchasing method.

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SCOPE AND PERIOD OF THE STUDY
The study involves the customers who visit Bajaj electronics for purchasing the
home appliances and electronic gadgets. It evaluates the influence of the EMI
payments on the sales of the Bajaj electronics.
This study is restricted to two stores at Attapur and Tolychowki in the
Hyderabad city. The sample size is 100. The methodology used for analysis and
interpretation is simple percentage method. The period of the study is 45 days.

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RESEARCH METHADOLOGY
The research is designed in the Descriptive model as it includes survey through
personal interactions to collect the data of survey. The attributes used in the
data collection are dynamic and subjective in nature. The customers responses
are based on their experience with their purchases in the Bajaj electronics.
The primary data is collected inside the store by asking questions. The research
is done based on a structured questionnaire which includes 19 questions of
multiple choice, ranking questions and open-ended questions.
Data analysis
the data collected through survey is analysed with the help of statistical tools
like pie diagrams and bar diagrams.
Data source
The type of data collected is primary data by using a structured questionnaire
and the responses are recorded by personal interaction with the customers
inside the store.

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LIMITATIONS OF THE STUDY
There are few limitations to this study. They are as following:
Time constraint: As the duration of the project is 60 days so the survey cannot
be conducted on a very large sample size.
Area: As the research is conducted only in two stores in Hyderabad, the result
may not represent the same view in other stores of the city.
Accuracy: The information provided by the sample unit is not always correct.
Sample size: The sample size of 100 is small so there may be difference in the
reality and the finding.
Sample unit: The sample unit is only including the customers of Bajaj
electronics.

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CHAPTER-2
REVIEW OF LITERATURE

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According to Jyothi rani who has done a research on Study regarding factors
affecting online shopping decisions in Rohtak city explained the following
This study reveals that the males are less doing the online shopping than
females. The female is more into online shopping because they enjoy doing
shopping compared to males. The young generation is more into purchasing
from online sites because of the revolution in the technology among the youth
population and they can use this technology for their well-being more than
other age group category. Flipkart is the shopping site which is more preferred
by the young generation. (Jyothi rani ,2018)
According to Shrirang Altekar and Anil Keskar who had done research on A
Study of the Factors Impacting the Buying Decision Process Specified Consumer
Durables in NOIDA article, we can see that Family plays a crucial role in the
final decision-making stage 94% in case of Home Appliances and 96% in case of
electronic Goods. Again, the spouse is the most influential factor 52% for Home
Appliances and 50% for Electronic Goods. Parents are the next influential factor
for Home Appliances as 26% and Children as 16% for Home Appliances.
However, in Electronic Goods children are however more influential than
parents.
( Altekar, P. and Keskar, A. (2014). A Study of the Role of Income in
Determining Shopping Formats and the Factors Impacting Brand Choice
at the Pre-Store and In-Store Stages of the Buying Decision Process for
Specified Consumer Durables in Noida. SSRN Electronic Journal.)
According to FREDERIC S. MISHKIN who had studied on the topic Consumer
Sentiment
and Spending on durable Goods explains that consumer sentiment affects the
purchase of durable goods. According to this view, the index of consumer
sentiment reflects consumer perceptions of financial distress, which influence
the decision to purchase durables because of their liquid nature.
a good balance sheet position at the beginning of the period, which
encourages confidence, will make the consumer more likely to purchase

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durables and start a debt. In addition, the purchase of durables is often related
by continuing improvements in the consumer's financial position, and thus the
consumer would feel happier after a purchase. (FREDERIC S. MISHKIN,1978)
According to Anitha goyal who had studied on the topic Managing perceived
risk for credit card purchase through supplementary services this study has
revealed that presence of supplementary services can manage consumer
perceptions towards functional risk and psychological risk. An interesting
finding is that males perceive more psychological benefit and females perceive
more functional benefits with supplementary services for credit cards. Age
above 55-year age group can be satisfied for psychological benefits of
supplementary services with credit card purchase. This can result in increased
usage of credit cards by this age group. (Anitha goyal,2018)
According to Sushma patil who has done research on the topic IMPACT OF
PLASTIC MONEY ON BANKING TRENDS IN INDIA around 50% of payments of
the customers are done through credit/Debit cards. The customers have rated
that the telephonic payment option is average due to long timeliness and
security concern for CCV/PIN number. The introduction of ATM machines has
changed the banking process also. Customers are preferring the ATM
machines. The uses of plastic cards have also been increased because banking
industries have also provided the 24x7 customer service for their customers.
No hassles of carrying cash, Security of money, irritation free EMI’s, Easy to
use, Personal Loan on Credit Ca rd. (Sushma patil,2014)
According to a study conducted by Komal Dhanda and Usha Arora who has
conducted research on topic Genesis of cashless society: A study on growing
acceptability of plastic money said that Young Indians feel dignified in holding
plastic currency and that they think about it as the good approach of paying.
There’s still, a good potential left for the bankers to introduce a lot of services
to tempt the shoppers on one side and improve their gain on the opposite.
Therefore, the long-term usage of plastic cards in India is bright enough to
bring large growth in its quality among customers also as bankers.
(komal dhanda, usha arora,2017)

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According to a study conducted by Prof. Dr. Akhter Anwarand Prof. Sachin
Hatol who had conducted a research on topic A STUDY ON VARIOUS METHODS
OF PAYMENT IN ONLINE TRANSACTION Awareness of e-transaction is good.
Etransactions are the simplest method of transactions. But customers have a
fear of risk of personal data. Banks are providing enough security. The internet
speed and process are one of another challenge on e-transaction. Any new
methods suddenly changed results in unacceptance of people.
(Akhter Anwarand, Sachin Hatol,2017)
According to a study conducted by S. Jayakumar who conducted research on
Consumer Durables rural India Calling which explains us that
Indian incomes are likely to grow over the next two decades and India will
become the world’s fifth largest consumer market by 2025 and becoming the
12th largest consumer market. With the easy availability of loans, the increase
of double-income families, decrease in prices because of increased competition
and government support, availability of disposable incomes, improvements in
technology, reduction in customs duty, and growth in consumer size of the
rural sector, the consumer durables industry is growing at a faster.
(S. Jayakumar,2010)
According to a study conducted by Sushma Patil who a research on the topic
IMPACT OF PLASTIC MONEY ON BANKING TRENDS IN INDIA has done says that
arrival of malls, multiplexes, online shopping stores, and shopping complexes is
encouraging the customers to make use of plastic cards. The modern day,
Indian customers are finding it easier to make payment by credit card or debit
card instead of carrying too much cash. It benefits the consumer through
product offerings at a lower cost and that too with delighting rewards, bonus
points. But some customers are not able to utilize cards due to its complex
nature and they don’t know how to operate it. The cost has also remained an
issue in case of credit cards. The interest charged on the outstanding amount is
very high which sometimes takes the customers in debts by discouraging the
customers to make use of it (Shushma patil,2014)

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According to a research conducted by Michael Wood on the topic
Socioeconomic status shown that impulse buying Unplanned buying is
commonplace in the modern retail and marketing environment. Indeed, the
most recent study of ``in-store'' decision making carried out by the Point-of-
Purchase Advertising Institute, with a sample size of more than 4,200
consumers, indicated that 60% of supermarket purchases and 53% of mass
merchandise
store purchases were unplanned (Wood, M. (1998). Socio-economic status, delay of
gratification, and impulse buying. Journal of Economic Psychology, 19(3), pp.295-320).
According to a study by-WEN CHIEN AND SHARON A. DEVANEY who has
conducted a research on the topic The Effects of Credit Attitude and
Socioeconomic Factors on Credit Card and Instalment Debt explains to us that a
favourable attitude toward using credit can lead to a positive attitude of using
credit, a higher likelihood of using credit may also encourage a positive attitude
toward using credit. The results of the present study indicate that a favourable
general attitude toward using credit has a positive effect on predicting the
number of instalments loans, and favourable specific attitude toward using
credit has a positive effect on predicting the amount of the credit card balance.
The cognitive dissonance theory might be used to explain the conflict that
consumers might experience when they charge a product or service and
receive immediate happiness, although they know that the longer they delay
paying the credit card balance, the more the goods or service will cost. Marital
status and professional status are positively related to instalments debt. But,
Education was positively related to credit card debt.
( CHIEN, Y. and DEVANEY, S. (2001). The Effects of Credit Attitude and
Socioeconomic Factors on Credit Card and Instalment Debt. Journal of
Consumer Affairs, 35(1), pp.162-179.)
According to the study conducted on the topic Indian Banking Development –
Challenges & Prospects
by the Karlapudi Ramesh Babu explains us the competition among the banks in
India is strong, with the situation where it is dominated by government banks.

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Market entry for the new banks at the country level is very tough for new
players due to the highly moderately consolidated nature of the industry and
extremely high competition. (Karlapudi RameshBabu,2018)
According to a research conducted by Rais Ahmad Itoo, A. Salvarsan who
conducted a study on the topic named Loan products and Credit Scoring
Methods by Commercial Banks has given us the conclusion that Most banks
have retail as of around 20% of their total lending and these are growing at a
rapidly at a rate of 30 to 35% yearly, Retail lending has become the source of
profit in the banking sector. The retail banking sector in the banking industry is
continuously undergoing innovations, product re-engineering, adjustments.
Indian retail banking includes Cards such as credit cards, debit cards and ATM,
housing loans, Personal loans, Consumption loans, Education loans, Vehicle
loans, Insurance, Demat services, Online services consumer durable loans.
(Rais Ahmad Itoo,2017)
According to the study conducted by L. Jay Atkinson on the topic, the demand
for consumers' durable good explains to us that the demand functions derived
in this study are based upon the influence of three or four basic factors as
measured. Such factors as advertising, salesmanship, and credit terms, as well
as changes in the product and in competing products, are not mainly included
in the calculations though they are at times important influences upon sales.
(L. Jay Atkinson,1950)
According to the study conducted by Dr. D. Ashok on the topic named
Consumers’ Purchasing Pattern in Liberalized Market – A Study on the
Household Durable Products explains us that More choices for their selection
due to many brands both in Foreign & Indian companies. High level of
technological improvement has been seen. promotional plans introduced by
marketers to win the confidence of consumer's by offering more economical
and psychological benefits to select the product of their purchase, Challenging
pricing strategies of marketers due to cost reduction techniques, introducing
more flexible choices in 'mode of purchase' by offering both easy and flexible
process of repayment, Attempting for Research & Development practices to
bring a user-friendly system by considering the changes in environment. They
also have the effect of environmental factors such as economic, cultural, social,

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psychological, demographic, situational and technological changes. Personal
factors include economic position, knowledge of consumer, lifestyle,
involvement. (D. Ashok,2007)
According to the study by M. Zulqarnain Siddiqui on the topic Issues and
Security of Plastic Currency explains us that fraud is a continuous problem for
the payments industry. As new payment technologies are introduced, and new
fraud prevention and detection techniques are introduced, criminals look for
the new weakest point in the system to exploit the innocent. The industry has
many Issues regarding Security of Plastic Currency has implemented a variety
of both preventative and mitigating measures to deal with card fraud.
(M. Zulqarnain Siddiqui,2011)

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CHAPTER -3
INDUSTRY PROFILE
COMPANY PROFILE

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INDUSTRY PROFILE
Introduction
India has a diversified financial sector undergoing rapid expansion, both in
terms of strong growth of existing financial services firms and new entities
entering the market. The sector comprises commercial banks, insurance
companies, non-banking financial companies, co-operatives, pension funds,
mutual funds and other smaller financial entities. The banking regulator has
allowed new entities such as payments banks to be created recently thereby
adding to the types of entities operating in the sector. However, the financial
sector in India is predominantly a banking sector with commercial banks
accounting for more than 64 per cent of the total assets held by the financial
system.
The Government of India has introduced several reforms to liberalise, regulate
and enhance this industry. The Government and Reserve Bank of India (RBI)
have taken various measures to facilitate easy access to finance for Micro,
Small and Medium Enterprises (MSMEs). These measures include launching
Credit Guarantee Fund Scheme for Micro and Small Enterprises, issuing
guideline to banks regarding collateral requirements and setting up a Micro
Units Development and Refinance Agency (MUDRA). With a combined push by
both government and private sector, India is undoubtedly one of the world's
most vibrant capital markets. In 2017, a new portal named 'Udyami Mitra' has
been launched by the Small Industries Development Bank of India (SIDBI) with
the aim of improving credit availability to Micro, Small and Medium
Enterprises' (MSMEs) in the country. India has scored a perfect 10 in protecting
shareholders' rights on the back of reforms implemented by Securities and
Exchange Board of India (SEBI).
Market Size
The Mutual Fund (MF) industry in India has seen rapid growth in Assets Under
Management (AUM). Total AUM of the industry stood at Rs 23.26 lakh crore
(US$ 360.90 billion) as of April 2018. At the same time the number of Mutual
fund (MF) equity portfolios reached a record high of 2.27 billion in February
2018.
Because of rise in investments in the Mutual Funds and other financial
instruments, the revenues of the brokerage industry in India are forecasted to
grow by 15-20 per cent to reach Rs 18,000-19,000 crore (US$ 2.80-2.96 billion)

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in FY2017-18, backed by healthy volumes and a rise in the share of the cash
segment.
Another crucial component of India’s financial industry is the insurance
industry. The insurance industry has been expanding at a fast pace. The total
first year premium of life insurance companies grew 17.35 per cent year-
onyear to reach US$ 25.44 billion during April 2017-February 2018.
Along with the secondary market, the market for Initial Public Offers (IPOs) has
also witnessed rapid expansion. The total amount of Initial Public Offerings
increased to Rs 84,357 crore (US$ 13,089 million) by the end of FY18. Over the
past few years India has witnessed a huge increase in Mergers and Acquisition
(M&A) activity. The total value of M&A in India rose 53.3 per cent year-on-year
to US$ 77.6 billion in 2017 from US$ 50.6 billion in the preceding year.
Furthermore, India’s leading bourse Bombay Stock Exchange (BSE) will set up a
joint venture with Ebix Inc to build a robust insurance distribution network in
the country through a new distribution exchange platform.
Investments/Developments
• Global payments solution giant Mastercard has launched its first
technology lab in Pune, which will enable India to move towards digital
economy and financial inclusion.
• Four metro cities of Delhi, Mumbai, Bangalore and Chennai can reap
benefits of US$ 7.2 billion annually by increasing payments through
digital means##.
• BankBazaar, a financial marketplace start-up in India, raised US$ 30
million in a funding round led by Experian Plc, a credit rating agency
based in UK, taking the company's total funding to US$ 110 million.
• Private equity (PE) investments in India increased 59 per cent to US$
24.4 billion in 2017, with average deal size of US$ 42.8 million, according
to data provided by Venture Intelligence.
• Private equity and venture capital firms recorded investments worth US$
7.9 billion with 180 deals during January-March 2018.
• In May 2018, total equity funding's of microfinance sector grew at the
rate of 39.88 to Rs 96.31 billion (Rs 4.49 billion) in 2017-18 from Rs 68.85
billion (US$ 1.03 billion). ^

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Government Initiatives
• SEBI plans to allow investors to make mutual funds transactions worth
up to Rs 50,000 (US$ 750) a month through digital wallets, as part of its
efforts to digitise the distribution processes for all financial products. It
also plans to allow immediate credit to customer’s bank accounts on
liquid mutual funds redemption to attract retail customers as well as
boost inflows.
• The Government of India has relaxed norms for small merchants with a
turnover of up to Rs 2 crore (US$ 300,000), allowing them to pay 6 per
cent of deemed profit in tax instead of 8 per cent of total turnover or
gross receipts received through banking channels or digital means for FY
2016-17, in a bid to encourage cashless transactions in the country.
• The lending target has been fixed at Rs 244,000 crore (US$ 36.46 billion)
for 2017-18.
• The Government of India launched the 'Bharat 22' exchange traded fund
(ETF), which will be managed by ICICI Prudential Mutual Fund, and is
looking to raise Rs 8,000 crore (US$ 1.22 billion) initially.
• In April 2018, the Government of India issued minimum FDI capital
requirement of US$ 20 million for unregistered /exempt financial entities
engaged in ‘fund-based activities’ and threshold of US$ 2 million for
unregistered financial entities engaged in ‘non-fund-based activities
Companies in the financial services industry are in the business of
managing money. Globally, the financial services industry leads the world
in terms of earnings and equity market capitalization. Large
conglomerates dominate this sector, but it also includes a diverse range
of smaller companies.
Commercial banking services are the foundation of the financial services group.
The operations of commercial include the safekeeping of deposits, issuance of
credit and debit cards, and the lending of money.
An investment bank typically only works with deal makers and high-net-worth
clients, not the public. These banks underwrite deals, secure access to capital
markets, offer wealth management and tax advice, advise companies on
mergers and acquisitions, and facilitate the buying and selling of stocks and
bonds and discount brokerages also occupy this niche.

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Hedge funds, mutual funds and investment partnerships invest money in the
financial markets and collect management fees in the process. These
organizations require custody services for trading and servicing their portfolios,
as well as legal, compliance and marketing advice. There are also software
vendors that cater to the investment fund community by developing software
applications for portfolio management, client reporting and other back office
services.
Private equity funds, venture capital providers and angel investors supply
investment capital to companies in exchange for ownership stakes or profit
participation. Venture capital was especially important to tech firms in the
1990s. Much of what goes on behind the scenes in the making of big deals is
attributed to this group.
Insurance is another important subsector of the financial services industry. In
the United States, an insurance agent differs from a broker. The former is a
representative of the insurance carrier, while the latter represents the insured
and shops around for insurance policies. It that who assesses the risk of
insuring clients and advises investment bankers on loan risk. Finally, reinsurers
are in the business of selling insurance to the insurers themselves to help
protect them from catastrophic losses.
The vast financial services sector also includes accountants and tax filing
services, currency exchange and wire transfer services, and credit card machine
services and networks. It also includes debt resolution services and global
payment providers such as Visa and Mastercard, as well as exchanges that
facilitate stock, derivatives and commodity trades.

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COMPANY PROFILE
Historical Background of the organization:
Bajaj Finserv was formed in April 2007 because of its demerger from Bajaj Auto
Limited as a separate entity to focus purely on the financial services business of
the group. The process of demerger was completed in Feb 2008.
This demerger was not only to unlock the value in the high growth business areas
of Auto, Insurance, Finance sectors and Wind Power but to also to independently
run these core businesses and strengthen their competencies.
The wind power project, the stakes in the life and general insurance companies
and consumer finance along with their respective assets and liabilities got vested
in Bajaj Finserv Limited. In addition to that, cash and cash equivalent of INR
8,000 million (then market value) was also transferred to the company.
The demerger has enabled investors to hold separate focused stocks and also
facilitated transparent benchmarking of the companies to their peers in their
respective industries.
The constantly changing demographics and dynamics of the Indian economy, has
led to creation of various needs of the customer. The Indian customer now
demands proper avenues of channelizing their savings, financial protection and is
also desirous of spending more on valuable goods and services. All these wants
to need to be met by dynamic players in the financial services space. Bajaj Finserv
was formed specifically to cater to these needs. The company was also formed to
touch and improve the lives of a growing number of people in the country, and in
doing so, deliver superior corporate values to its shareholders. The operating
companies carry with them the Bajaj brand, which carries with it decades of
commitment to business ethics, integrity and highest standards of fiduciary
responsibility.
Area of operation:
• Consumer Durable finance

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• Two and Three-wheeler finance
• Lifestyle product finance
• Vendor finance
• Construction Equipment finance
Vision and Mission of the Organization:
Vision:
Bajaj Finserv has a vision to become a full-fledged financial service company and
be the financial partner to the Indian consumer and help him across his financial
needs, whether for finance, for investment management, for protection or
postretirement support, throughout his lifecycle.
Mission:
Bajaj Finserv aims to be the most useful, reliable and efficient provider of
financial services. It is our continuous endeavour to be a trustworthy advisor to
our clients, helping them achieve their financial goals.
Product Portfolio of the Organization
Bajaj Finserv Lending offers loans for various needs. We offer loans for Bajaj
Auto Two Wheelers under the name of Bajaj Auto Finance Ltd. We offer
Consumer Durable Loans, Personal Loans, Loan against Property, Small Business
Loans, Construction Equipment Loans, Loan against Securities and Insurance
Services under the name of Bajaj Finserv Lending. Bajaj Finserv Lending is one
of the most diversified NBFCs in the market catering to more than 5 million
customers across the country. Apart from being a well-recognized organization,
they pride us for holding the highest credit rating of FAAA/Stable for any NBFC

30
in the country today. The product offerings include Consumer Durable Loans,
Personal Loans, Loan against Property, Small Business Loans, Two-wheeler and
Three – Wheeler Loans, Construction Equipment Loans, Loans against Securities
and Insurance Services.
Products Covered:
0% interest Consumer Durables Finance is available on a wide range of products
and in over 101 cities across India. Hereunder is an indicative list of products
covered.
• LED/LCD/CTV
• Washing Machines
• Microwave Ovens
• Refrigerators,
• Cameras/Camcorders
• Dishwashers
• Generators
• Cooking Range products
• Dryers
• Laptops / Desktops (Select)
• Smart phones (Select)
• Air purifiers / Water Purifiers / R.O.
• Music Systems

31
• Inverters
• Air conditioners
Current Picture of the Company:
Bajaj Finance reports AUM of RS.19229 crores and highest ever quarterly profit
after tax of RS, 176 crores-A growth of 27% over corresponding quarter of
previous year. The Board of Director of Bajaj Finance Limited in their meeting
held today took on record the unaudited Financial Result of the company for 1 st
quarter ended 30 June 2013.
Launch of Digital Product Financing:
The company added digital product financing as an extension to its consumer
electronics financing business.
Launch of Rural Lending:
The company launched its rural financing business in 7 branches and 30 spokes
across Maharashtra. The full product suite consisting of consumer electronics
financing, gold loans and refinancing loans have been launched in these markets.
Among the top 3 BFSI companies to work for in India:
The company has been ranked as the 3 rd. Best Financial Service Company to
Work for in India by ‘Great Place to Work Institute’-Amongst the most
prestigious employer award in India.
Future Plan of the Organization:

32
Application for Banking License:
Bajaj Finserv Limited, the holding company of Bajaj Finance Limited, has
submitted its application to Reserve Bank of India on June 26, 2013 for a license
to commence banking business in terms of section 22 of the Banking Companies
Act, 1949.It is proposed to do this by converting its subsidiary Bajaj Finance Ltd.
into a Bank in terms of RBI Guidelines for Licensing of New Bank in the Private
Sector dated February 22, 2013.
Awards:
Top 3 Financial Services Company:
We proud to be ranked amongst the Top 3 Financial Services Companies to work
for in India. The ranking was conferred on us by Great Places to Work (GPTW),
the gold standard in ranking the world’s best workplaces, at a special event hosted
in Mumbai on 21 June 2013. GPTW conducts this survey every year amongst
more than 500 companies across India. This year more than 530 companies
participated in the survey.
CIO 100:
Recently, we also won the CIO 100 Innovation award for two of our innovations
- EMI Card and Flexi saver. CIO 100 is an annual award program that recognizes
organizations that exemplify the highest level of operational and strategic
excellence in information technology (IT). CIO magazine has a long and proud
tradition of honouring leading companies for business and technology leadership
and innovations through its premiere award program – CIO100. Now in its 25 th
year in the USA, it is an acknowledged mark of enterprise IT excellence. It’s a
celebration of 100 organizations (and the people within them) that are using
information technology in innovative ways to deliver business value, whether by
creating competitive advantage, optimizing business processes, enabling growth
or improving relationships with customers. Hosted in countries such as Canada,

33
Sweden, Australia, Singapore, Vietnam, Hungary and India, the CIO 100 Awards
is a truly global recognition. It is an acknowledged mark of excellence in
enterprise IT.

34
CHAPTER-4
DATA ANALYSIS & INTERPRETATION

35
Survey analysis of the data
1. Age
The data in the table shows the no of respondents under different age.
20-30 66
30-40 18
40-50 13
50-60 3
total 100
INTERPRETATION
In the above chart we can observe that 66% of the respondents are between
age of
20-30. 18% of the respondents are between age 30-40, 13% of them are
between age of 40-50
and 3% of the respondents are between age of 50-60. mostly the age group
between 20-40 are most involved and excited to purchase the consumer
durable goods.
66%
18%
13%
3%
Age
20-30
30-40
40-50
50-60

36
2.Gender
MALE 82
FEMALE 18
Interpretation
From the above chart we can see 82 % respondents of 100 people are males.
18 % of the 100 people are females. Most of the decisions are taken by males
to purchase a consumer durable goods in the family .it is the main reason for
males are more in the store. most of the males are also employed and are
likely to purchase the consumer durable goods
82%
18%
GENDER
MALE
FEMALE

37
3.occuption
government employee 8%
private employee 48%
business 9%
others
35%
Out of 100 respondents 35% of people are government employees.
48% of the people are private employees and 9% of them have their own
business remaining
8% people are self-employed.
4. marital status
Interpretation
8%
48%
9%
35%
occupation
government employee
private employee
business
others

38
married 35%
unmarried 65%
Interpretation
Out of the 100 respondents 35% are married and 65% are unmarried. Mostly
married people are more involved in buying the home appliances and
electronic consumer durable goods because they want to use them for their
daily home operations and for the social status and even sometimes they may
also purchase because of anxiety and personal satisfaction.
5. monthly income
married
35%
unmarried
65%
marital status
married
unmarried

39
10000-25000 45
26000-50000 35
51000-75000 2
no income 17
75000-100000 1
From the above chart we can see most of the people visiting Bajaj electronics
are from medium income group people. 45% of the people are having a income
between 10000-25000 and also 35% of the respondents are having income
between 26000-50000 which proves most of the people visiting the Bajaj
electronics are middle income group people. There are also people who has no
income source and there are 17% of respondents. High income group are very
less. only 2% are having income between 51000-75000 and only 1% of people
are having income from 75000 and above.
Interpretation
10000-25000
%45
26000-50000
%35
51000-75000
2%
no income
17%
75000-100000
1%
monthly income
10000-25000
26000-50000
51000-75000
no income
75000-100000

40
6. Do you have EMI card?
YES 37%
NO 62%
Most of the customers visiting the store are not having any EMI card. because
most of the people are not likely to go through the EMI process and most of
the people are not eligible to get an EMI card because of CIBIL score issues.
37%car of the respondents are having an EMI card.and also to purchase on EMI
basis there is no need of any EMI card. These can also be the reason for low
EMI card percentage.
7. If your answer is yes for the above question, select the company which
gave you a loan. Please mention the company name even if you have
taken a loan without EMI card
Interpretation
37%
63%
EMI card holders
YES
NO

41
Bajaj finserv 21
capital first 18
tata capital 4
HDFC 4
others 1
no loan 52
Interpretation
Most of the people are preferring BAJAJ FINSERV and CPITAL FIRST for
consumer durable loan.52% out of the sample are purchasing on the cash
basis. Bajaj finserv is having a leading position in lending the consumer durable
loan and people are mostly preferring these company because of the company
brand awareness and its service. Tata capital and HDFC are performing very
21
18
4 4
1
52
0
10
20
30
40
50
60
bajaj finserv caoital first tata capital HDFC others no loan
LOAN LENDING COMPANIES

42
less because their complicated documentation process and low brand
awareness in lending the consumer durable loans.
8. what are the factors Which will motivate you to purchase by EMI
method?

43
zero interest 46%
low down payment 15%
easy to manage money 23%
other reasons 16%
Interpretation
People mainly purchase on EMI basis because of paying in short which allows
the buyer easy to manage money and use that money for alternative purpose.
In the above pie chart explains 46% of sample has responded that easy EMI (
zero interest ) has been their motivational factor for EMI purchase and 23% of
people has responded that easy to manage money and 15% because of low
down payment and 16% of the sample shows other reasons but that has
happened because most of the respondents who has not purchased on EMI
basis has chosen this option because they don’t know about zero interest ,low
interest , low down payment.
9. which among the following is more convenient to use for purchase?
credit card 7%
46%
15%
23%
16%
motivational factors
zero interest
low downpayment
easy to manage money
other reasons

44
EMI card 51%
none 42%
Interpretation
Purchasing on EMI card was more convenient when compared to credit card
purchase, because 51% of the respondents has chosen EMI card was more
convenient for them to use for purchase. Because most of them has said that
the interest rate by credit card is very high compared to the EMI card.
10. which type of purchase was most comfortable for you?
cash purchase 50%
EMI purchase 50%
C REDIT C ARD EMI C ARD NONE
7%
51%
42%
CONVENIENT CARD

45
This question is about the comfortability that customers feel in case of cash
and credit purchases. 50% of the respondents has said that cash purchase is
more comfortable because no documentation process, no CIBIL score issues,
no technical errors and remaining 50% of them has responded that credit
purchase is more comfortable because it is easy to purchase costly products
and easy to manage the money.
Interpretation
0%
5%
10%
15%
20%
%25
%30
35%
40%
45%
50%
cash purchase EMI purchase
50% 50%
COMFORTABLE PURCHASE

46
11. On a scale of 1 to 5 give your rating by the help of the box on
the right side.
Interpretation
Easy EMI means zero interest .38 % of the sample are satisfied ,26 %
are highly satisfied which shows more than 60 % are positive and favour
to the easy EMI option. 34 % are neutral and only 2% people are highly
dissatisfied because of some problems.
paying by instalments
1 = highly
dissatisfied
2= not satisfied
3= neutral
4= satisfied
5= highly
satisfied
easy interest
highly dissatisfied 2
not satisfied 0
neutral 34
satisfied 38
highly satisfied 26
%2
%0
34%
38%
%26
easy interest
easy interest
highly dissatisfied
not satisfied
neutral
satisfied
highly satisfied

47
not satisfied 1
neutral 33
satisfied 41
highly satisfied 24
Paying by instalments is a process of dividing the larger amount into small
instalments and paying them in those small portions on regular basis such that
it benefits the payer. 41% of the respondents are satisfied and 24% of the
sample are highly satisfied which shows more than 60% of people are having a
positive perception on this element.
Interpretation
1%%1
33%
41%
24%
Paying by installments
highly dissatisfied
not satisfied
neutral
satisfied
highly satisfied

48
EMI documentation
not satisfied 4
neutral 66
satisfied 18
highly satisfied 11
Interpretation
EMI documentation is the formal registration process and loan approval
process where the data is recorded of the client and the loan is given by
conforming the payable capacity of the client.
Here 66% of the respondents are neutral having no opinion on it and 18% of
the respondents are satisfied with the documentation process but 11% are
highly dissatisfied because of the CIBIL score issues and technical issues of the
process which consumes time.
1% 4%
66%
18%
11%
EMI documentation
highly dissatisfied
not satisfied
neutral
satisfied
highly satisfied

49
company service
not satisfied 1
neutral 57
satisfied 30
highly satisfied 11
Interpretation
The service of the company is very important because the perception of the
customer may depend on the service of the company which effects the
experience of the customer. But 57% of the respondents has expressed neutral
only 41 % are positive to the company service where 30 % are satisfied and
11% are highly satisfied.
%1 %1
57%
30%
%11
company service
company service
highly dissatisfied
not satisfied
neutral
satisfied
highly satisfied

50
EMI card
not satisfied 2
neutral 64
satisfied 23
highly satisfied 10
Interpretation
Experience of usage of the EMI card is recorded for knowing the customers
opinion on the usage of the EMI card. 23% of the responses are satisfied and
10% are highly satisfied but only 1 % is for both dissatisfaction and highly
dissatisfaction. This shows us that the experience of the EMI cards is very good.
9. would you suggest your friends to purchase on EMI basis?
highly dissatisfied
1%
not satisfied
2%
neutral
64%
satisfied
23%
highly satisfied
10%
EMI card
highly dissatisfied not satisfied neutral satisfied highly satisfied

51
yes 72%
no 28%
Interpretation
72% of the responses are yes for suggestions to other to purchase on the EMI
basis because they expressed it as an opportunity to fulfil their desires easily
with the flexible payment methods and 28% of the respondents has said no to
the suggestion to others to purchase on the EMI basis because mostly some
people are thinking that EMI purchases encourage the debts.
10. Did you face any problems regarding EMI purchases?
72%
28%
suggestion to others
yes
no

52
card block issues 16
low limit issues 16
CIBIL score issues 12
technical errors by bank 2
other reasons 0
no reason because they are not card
holder 54
Interpretation
The major problems of the EMI purchases are recorded are analysed. Here 54
% respondents are not EMI card holders but if we take the remaining
responses 16% of the people responded that, they are facing mainly card block
issues. EMI cards will be blocked by companies if the cards are not used
regularly once in 2 months and the card will be blocked if there any cheque
bounces and any late payments. Another 16% of the responses are facing low
limit issues. a pre-approved loan limit is given to the customer based on the
individual regular transactions and their CIBIL score. some people will get very
less preapproved limit which results in the customer disappointment.
16
16
12
2
0
54
CARD BLOCK ISSUES
LOW LIMIT ISSUES
CIBIL SCORE ISSUES
TECHNICAL ERRORS BY BANK
OTHER REASONS
NO REASON BEACAUSE THE ARE NOT CARD
HOLDER
problems of card holders

53
17. How often you buy in Bajaj electronics on EMI basis and cash basis?
EMI payment Cash payment
once in 2 months 3
once in 4 months 18
once in 6 months 33
once in a year 32
none 14
once in 2 months 18
once in 4 months 33
once in 6 months 32
once in a year 14
None 3
Sales of the store depends on the customer visits to the store .3% of the
respondents visits once in 2 months which explains their loyalty, 33% of the of
them visits once in 6 months and 18 % of them responded that 18% visits the
store once in 4 months.32% of them are just short-term customers who visits
only once in a year. So, the company should hold those customers who visits
once in 2,4,6 months and attract those customers by lucrative incentives who
visits once in a year.
ONC E IN 2
MONTH S
ONC E IN 4
MONTH S
ONC E IN 6
MONTH S
ONC E IN
A YEAR
NONE
3
18
33 32
14
TIME PERIOD OF PURCHASE

54
Buying in Bajaj electronics on cash basis?
In the above chart we can observe that 33% of the customers buy In Bajaj
electronics on cash basis once in 4 months and 32% of the respondents buy
once in 6 months based on cash basis. There are 18% of them buy once in 2
months whereas respondents who purchase on EMI basis once in 6 months is
33% which is 1% more than cash purchases. so, influence on the EMI payments
on sales is good compared to cash sales.
19. According to you which among these options would be convenient to pay
entire amount?
3 months 4
6 months 40
0
5
10
15
20
25
30
35
once in 2
months
once in 4
months
once in 6
months
once in a
year
none
18
33 32
14
3
period of purchase on cash

55
12 months 29
18 months 5
24 months 5
None 17
There are many schemes for the total payment of loan. Most of the customers
are preferring to pay in six months so that they can take another loan on EMI
basis because paying 2 or 3 EMI’s monthly can irritate the customers and
paying EMI’s for a very long term is also very frustrating that the customers
wait for very long time to clear the whole loan.40% of the respondents had
chosen 6 months as the best payment tenure scheme. The next preferred
scheme is 8 months and 12 months.
4
40
29
5
5
17
0 5 10 15 20 25 30 35 40 45
3 MONTHS
6 MONTHS
12 MONTHS
18 MONTHS
MONTHS24
NONE
covenient instalment scheme

56
CHAPTER-5
FINDINGS
SUGGESTIONS
CONCLUSION

57
FINDINGS
• Major decision makers in the customers are males in case of purchase of
consumer durable products.
• Most of the customers visiting Bajaj electronics are married people.
Because mostly married people involve in purchase of home appliances
and consumer durables.
• More than half customers visiting Bajaj electronics are from middle
income group.
• Only 40% of the customers are having EMI cards.
• 21% of the respondents are having consumer durable loan from Bajaj
finserv.
• 18% of the respondents are having loan from capital first.
• 52% of the respondents are not having any EMI loan.
• Tata capital has 4% of respondents who took a consumer durable loan.
• HDFC has 4% of respondents who took a consumer durable loan.
• 46% of the respondents had said that zero interest will be the
motivational factor for taking an EMI loan.
• For 23% of the respondents easy to manage money will be the
motivational factor.
• 50% of the sample like cash purchase and the remaining 50% of sample
like EMI purchase.
• 39% of the sample are satisfied with the EMI documentation.
• 33% of the sample are satisfied with the EMI card.
• 72% of the sample are in favour to suggest EMI purchase to others.
• 32% of the people shop on cash basis once in 6 months where as 33% of
people shop on EMI basis once in 6 months.
• When we take buying behaviour for 2 months, cash purchases are more
(18%) when compared to EMI purchases (3%).
• Most of the customers would like to clear the loan in a time of six
months.
• Customers won’t like very long period of payments.

58
SUGGESTIONS
• Issuing more EMI cards can encourage customers for EMI purchases.
• If the existing EMI card users are not using EMI card regularly then the
card will be blocked by the company. This is stopping the customer from
purchasing. If this card blocks are stopped, then there is a scope for
increasing the EMI sales.
• The documentation process is time consuming for the new customers for
getting a loan. Decreasing of this process time can bring a positive
attitude among the customers regarding the consumer durable loan.
• Most of customers are not getting loans because of less CIBIL score.
there are some cases where loans are not approved where customers
won’t get loans just because of 1 or 2 less points. If the companies can
approve loans for those cases who have low CIBIL score l by just 1 or 2
points, then EMI sales can be improved.
• Bringing more awareness in the rural areas and towns regarding the
consumer durable loans can improve the sales by EMI.

59
CONCLUSION
By this study I have observed that the main motivational factors that are
influencing customers in the Bajaj electronics are 0% interest rate on the
consumer durable loan. customers are preferring to buy on EMI basis because
they are getting high cost products just by very low-down payment and even
zero down payment on specific products which is a delightful feeling. Some
customers are happy in taking products on EMI basis because the amount
deducted every month is very small amount which is easy and better than
paying the whole amount at a time.
EMI documentation is done by taking few documents then loan is approved in
period of 15-20 minutes and the payment is done according to the scheme
approved to the customer. Out of 100 people as sample 50 Customers like
purchasing through EMI and out of them 48 persons are having previous loans
and 38 are comfortable with the EMI documentation 5 are neutral and only 5
customers are not satisfied with documentation, as they expressed the reason
is that time taken for giving loan is more.
Existing customers have a positive perception towards the EMI method are
likely to suggest others regarding EMI purchasing, but there are major
problems addressed by customers are found in this study which are mostly
card block issues and low limit issues. Reducing this problem of the customers
can boost the EMI sales.

60
BIBLIOGRAPHY
Altekar, P. and Keskar, A. (2014). A Study of the Role of Income in Determining Shopping Formats
and the Factors Impacting Brand Choice at the Pre-Store and In-Store Stages of the Buying Decision
Process for Specified Consumer Durables in Noida. SSRN Electronic Journal. (Altekar and Keskar,
2014)
Goyal, A. (2008). Managing perceived risk for credit card purchase through supplementary
services. Journal of Financial Services Marketing, 12(4), pp.331-345.
(Goyal, 2008)
Altekar, P. and Keskar, A. (2014). A Study of the Role of Income in Determining Shopping Formats
and the Factors Impacting Brand Choice at the Pre-Store and In-Store Stages of the Buying Decision
Process for Specified Consumer Durables in Noida. SSRN Electronic Journal. (Altekar and Keskar,
2014)
Goyal, A. (2008). Managing perceived risk for credit card purchase through supplementary
services. Journal of Financial Services Marketing, 12(4), pp.331-345.
(Goyal, 2008)
Wood, M. (1998). Socio-economic status, delay of gratification, and impulse buying. Journal of
Economic Psychology, 19(3), pp.295-320.
(Wood, 1998)
CHIEN, Y. and DEVANEY, S. (2001). The Effects of Credit Attitude and Socioeconomic Factors on
Credit Card and Instalment Debt. Journal of Consumer Affairs, 35(1), pp.162-179.
(CHIEN and DEVANEY, 2001)
Wood, M. (1998). Socio-economic status, delay of gratification, and impulse buying. Journal of
Economic Psychology, 19(3), pp.295-320.
Kara, A., Kaynak, E. and Kucukemiroglu, O. (1994). Credit Card Development Strategies for the Youth
Market. International Journal of Bank Marketing, 12(6), pp.30-36.
Debt, Delinquencies, and Consumer Spending Jonathan. (2018).

61
Websites
What is the financial services sector? |
Investopedia https://www.investopedia.com/ask/answers/030315/what-
financialservices-sector.asp#ixzz5KLwlhtmV
www.bajajfinservlending.in
https://www.capitalfirst.com/consumer-durable-loan
https://www.tatacapital.com/
https://www.hdfcbank.com/
https://www.slideshare.net/
https://www.bajajelectronics.com/

62
QUESTIONNAIRE
A STUDY ON INFLUENCE OF EMI PAYMENTS ON SALES OF
BAJAJ ELECTRONICS
1.Name __________________________________
2.Age
20- 30
30- 40
40-50 50-60
3.Gender
Male
Female
4.Contact number______________________
5.E-mail - _______________________
6.0ccupation
Government
employee
Private employee
Business
Others_________________
7.Marital status
Married
Unmarried

63
8.Monthly income
10000 – 25000
26000- 50000
51000- 75000
75000-
100000
Above 1 lakh
9. Do you have an EMI card? Yes no
10. If your answer is yes for the above question, select the company
which gave you a loan. Please mention the company name even if you have
taken a loan without EMI card.
Bajaj
Fiserv
Capital
first
Tata
capital
HDFC
Others _______________________
11. what are the factors Which will motivate you to purchase by EMI method?
zero interest
Low down payment
Easy to manage money
Other reasons if any _______________
12. Which among the following is more convenient to use for purchase?

64
Credit card EMI card
13.Which type of purchase was most comfortable for you?
Cash
purchase
EMI purchase
14.On a scale of 1 to 5 give your rating by the help of the box on the
right side.
Easy interest (zero interest) - 1 2 3 4 5
Paying by instalments - 1 2 3 4 5
EMI documentation - 1 2 3 4 5
Company service - 1 2 3 4 5
EMI card - 1 2 3 4 5
15. Would you suggest your friends to purchase on EMI basis?
Yes
No
16.Did you face any problems regarding EMI purchases? If yes, please mention the
reason
Card block issues
Low limit issues
Cibil score issues
Technical errors by bank
Other reasons if
any_______________________________________________________
1 = highly dissatisfied
2= not satisfied
3= neutral
4= satisfied
5= highly satisfied

65
17. How often you buy in Bajaj electronics on EMI basis and on cash basis?
EMI payment Cash payment
Once in 2 months once in 2 months
Once in a year once in a year
None None
18. According to you which among these options would be convenient to pay
entire amount?
3 months
6 months
12 months
18 months
24 months

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