Nokia has tied up with Citibank, HDFC Bank, Axis Bank, Standard Chartered, HSBC, ICICI Bank and SBI Cards for the equal monthly installments (EMI) scheme and the offer will be available to consumers with credit cards from any of these banks.
The company said the banks together have a consumer base of over 16 million, thereby providing it an opportunity to extend the service to a larger number of customers.
"Our insight shows that many customers don't end up buying their preferred handset model as it tends to be marginally above their pre-decided budget, making upfront payment difficult. Our easy EMI scheme at zero per cent interest addresses that challenge," Nokia India Director- Marketing Viral Oza said in a statement.
The phone is lighter than the earlier model, and has a screen that can be read in bright sunlight.
The device has a metal design and showcases the latest PureView camera innovation, new features and third party applications.