Meta, the company that owns Facebook and Instagram on Tuesday announced a no-cost EMI feature for advertisers to ease cash flow for small businesses in India.

The no-cost EMI feature will allow advertisers to pay Meta for their advertising campaigns in equated monthly installments over three months through participating banks at no additional cost of interest to them.

Meta said 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 choose any amount between  Rs. 3,200 and Rs. 5 lakh to convert to EMIs, IANS reported from New Delhi.

India is the first country within Meta where the no-cost EMI has been launched.

At the second edition of its ‘Grow Your Business Summit’ in India, Meta also announced other enhanced service support features for all advertisers in the country.

“With these announcements, every advertiser on Meta in India, irrespective of their ad spends, has access to financial and service support, at the click of a button to unlock new growth opportunities,” said Ajit Mohan, VP and MD (Facebook India) Meta.

Meta also announced 24×7 chat support for all its active advertisers in India.

Over the last three years, Meta has been committed to enabling easier access to timely credit.