Banks and finance companies are hoping that several consumers will seek easy and cheap finance for set-top boxes after the conditional access system (CAS) is introduced.
UCO Bank was the first to evolve new finance schemes for set-top boxes, whereby the equated monthly instalment (EMI) will range between Rs 55 for an analog set and Rs 100 for a digital one.
Consumers will have to make a down payment of Rs 300-400 for a set and pay up the rest in EMI over a maximum period of 35 months at a 14 per cent interest.
Both the multiple service operator and the local cable operator would have to stand guarantors for the loan, industry sources said.
However, a collateral security will not be required. The bank has noted that the demand for set-top boxes is expected to be high from the first month itself. The demand will increase when any popular sports event is to be telecast, it feels.
