Mumbai: Multipl, a platform for savings and investments, has announced a partnership with CaratLane, India’s largest omnichannel jewellery brand. CaratLane will offer a monthly saving plan to Multipl users.
In the offer, users can save for four-ten months with Multipl, and get up to 70 per cent of the final month’s deposit added to their savings by CaratLane. For instance, if a user wants to buy jewellery worth Rs 1,60,500, they can save Rs 15,000 on the Multipl app for 10 months, and save Rs 1,50,000. In the last month, CaratLane will add Rs 10,500 (70 percent of Rs 15000) to the savings. Similarly, if a user saves Rs 5000 for seven months, CaratLane will add Rs 2000 in the eight month (40 percent of Rs 5000). CaratLane is one of the savings partners on the Multipl app.
Multipl co-founder and CEO Paddy Raghavan said ” Indians have always been fascinated with buying gold and diamond jewellery. CaratLane is unique in offering high-quality, contemporary jewellery for all occasions. We are excited to partner with CaratLane to offer the traditional gold-saving plan with a modern twist. Multipl is a technology platform that merges modernity with tradition, much like CaratLane. With this partnership, we hope to bring the best of both worlds to users.”
He also added, ” Multiplers can now plan and save every month for buying jewellery from CaratLane for their special occasions, and will get up to 15 per cent on their savings. They will also get rewards on Multipl for reinforcing saving as a positive behaviour.”
CaratLane senior vice president Atul Sinha said, “We are elated to collaborate with Multipl, and become a part of the Save Now Buy Later movement. Saving up for jewellery purchases is a major part of Indian tradition. This is probably a sector where SNBL was always preferred. This collaboration will ensure that consumers can get more benefits with this plan. ”
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