![]() ![]() The minimum and maximum loan disbursed under Amazon Pay Later further varies according to the payment schedule opted for. The approved loan amounts (within the RBI limit), interest rates, pre-closure charges and other terms and conditions vary with each service provider.įor instance, in the case of Amazon Pay Later, for opting to pay the next month, customers are not charged any amount, whereas interest applies when one opts for EMI payment (ranging from three to 12 months). HDFC Bank, on the other hand, directly offers its savings and current account customers, FlexiPay option, which they can use on purchases with partner merchants (including FlipKart, MakeMyTrip, Myntra, Metro Shoes, Royal Oak Furniture and Bunayi). For instance, Amazon offers customers a BNPL service called Amazon Pay Later through its tie-up with CapFloat Financial Services and IDFC First Bank.Īfter completing the e-KYC procedure, customers are approved loans by the partner lender, basis their credit bureau history, which can then be utilised for purchases on Amazon.in. Besides providing easy access to credit and boosting the sales of white goods and other consumer goods, BNPL also helps lenders explore new borrowers who wouldn’t ordinarily come to them for a loan.
0 Comments
Leave a Reply. |