Interested in financial products
CreditMantri
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Max Tenure

180 Days

Best Rate

0%

Processing Fee

0 - 500

View Details

Features

  • Partners(Amazon,Flipkart,BigBazar)
  • Avail loan as low as 3000.
  • Instant approval and get vouchers on same day.
  • Zero physical documentation.
  • No foreclosure charges.
  • Ten Minute loan.
  • 1, 3 & 6 Months EMI Option – For salaried (Greater than 18000 - Month)

Pricing

  • Interest rate - 0%
  • Processing fee - Starts @ 0 - 500

Documents Required

  • ID Proof - Pan card
  • Address Proof - Aadhar card
  • Income proof - 3 months bank statement

Max Tenure

NA

Best Rate

2.75% p.m

Processing Fee

1.5%

View Details

Features

  • Easy and Intuitive mobile-only application
  • No human interface. Only four documents to upload in the application
  • MULTIPLE LOAN TENURES- A choice of repayment options.
  • MULTIPLE LOAN OPTIONS- Choose from a variety of loan options.
  • CASHe- powered by Bhanix Finance and Investment Ltd, an RBI registered NBFC
  • Interest rate - 2.75% per month
  • Processing fee - 1000 INR or 1.5%

Pricing

  • Interest rate - 2.75% per month
  • Processing fee - 1000 INR or 1.5%

Documents Required

  • ID Proof - Pan card- Mandatory
  • Address Proof - Aadhar card, Driving license, Phone Bill
  • Income proof - Latest salary slip, Latest Bank statement with Salary Credit

Max Tenure

NA

Best Rate

0%

Processing Fee

0%

Max Tenure

NA

Best Rate

Processing Fee

NA

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Time To Checkout Your Shopping Cart Now! With Buy Now Pay Later New Delhi

Don’t we all like to shop till we drop? Buy Now Pay Later can now help you achieve that! 

India being a land of festivals, there is always some occasion to celebrate and something new to be bought. And what better place to shop than New Delhi? These dreams shouldn’t be squashed just because you don’t have a credit card. Personal loans for shopping are a good alternative but take a lot of time to process and the documentation process itself is harrowing.

Buy Now Pay Later is here to change all that! 

Buy Now Pay Later is a new credit option available mostly through e-commerce platforms. The buyer is given a credit limit that can be used to purchase things on the e-commerce website under this plan. This sum is usually paid back in 30 days without any interest. Users can also choose to pay this back in simple EMIs of 3, 6, 9, or 12 months at a minimal interest rate.

Customers may be eligible for 'No Cost EMIs' on the buy now pay later limit for a fixed number of months, depending on their eligibility. Though this is most common on e-commerce sites, shopkeepers are also integrating this payment method in order to boost sales and revenue.

Why Are Consumers In New Delhi Opting For Buy Now Pay Later?

Buy Now Pay Later is simply a virtual credit card that allows you to purchase whatever you want, but without the hassles of the entire credit card application process. Here are some more points to consider if you are doubtful about this lending option:

  • Simple and transparent application process that is completed in less than 10 minutes.
  • Offers more purchasing power to consumers
  • BNPL users get additional benefits and discounts from e-commerce platforms for using it to make purchases
  • Consumers are also given special ‘No Cost EMI’ offers on festival days and special sale periods
  • Totally online account management, purchases and repayments

How Does Buy Now Pay Later Work For New Delhi Shoppers?

As previously stated, Buy Now Pay Later is a loan service that provides consumers with a predetermined credit limit that may be utilized to shop online. In most cases, the buyer must register for this payment option online. You'll need to input your PAN and bank account information. The finance business, which is normally partnered with the vendor, then processes this and generates your monthly credit limit.

This credit limit is usually determined by your monthly average balance in the bank account and your purchase pattern. The outstanding payment will be debited straight from your bank account because this account is linked to your bank account. This works in the same way as a credit card, but the user does not receive a physical card. Furthermore, the credit limit is only equal to the user's total monthly income, so it will not be excessive.

  • On the shopping app, the user will usually see a notification or message informing them of the Buy Now Pay Later option.
  • They can also find it during the payment checkout screen.
  • Once they click on the BNPL option, they will be asked to enter their PAN number and the mobile number associated with their bank accounts.
  • The lender does a short check on your purchase history and bank balances to establish your payback capacity
  • The service will present you a credit limit based on these parameters
  • Once you agree to the financing's terms and conditions, the amount will appear in your BNPL account.
  • You will need to complete Full KYC to access this credit limit and start using it.

According to the terms of service, you can utilize this limit just on that shopping app, although some BNPL services allow you to use it on other platforms as well.

List Of Top 5 BNPL Providers In New Delhi

1. Simpl

Simpl is a mobile app based lending platform that is connected to over 5500+ merchants across India. Here are the best features of Simple BNPL:

  • A simple 2 step account activation. Just enter your basic details and get your credit limit instantly on your Simple app.
  • Connect your Simple app to 1000s of neighborhood merchants and start shopping from them.
  • Single tap payment completion for all your online purchases through your Simple app
  • They don’t check your credit score as they use their own in-house algorithm to determine your credibility
  • Totally transparent process that has no hidden fees or charges. 
  • Enjoy 2 billing cycles in a month that allows you to repay comfortably. 

2. Zest Money

Zest Money is by far the most popular BNPL platform for online shoppers. They have affiliation with more than 1.5 lakh stores across India and offer you credit limits of up to Rs.2 lakhs. Here is why people prefer ZestMoney BNPL:

  • Open account within minutes and get approved credit limit instantly
  • Buy things online or offline without a credit card
  • Partnership with more than 150,000 merchants to bring the best products to you 
  • Avail 0% EMI on ZestMoney for your purchases
  • Comfortably repay in 3-4 months
  • No penalty for prepayment or part payment
  • No hidden charges; enjoy total transparency

3. Amazon Pay Later

Due to its online presence, Amazon Pay Later is widely used by most Indians. Here are some points to note about Amazon Pay Later:

  • Easy and hassle-free EMI payments on all qualified Amazon App and Amazon browser purchases.
  • Repay in convenient EMIs of 3-12 months.
  • Manage your account through a separate dashboard to keep track of payments, transaction history, limitations, and other information.
  • No credit check required. Credit limit based on your bank account. 
  • No processing fees or cancellation fees. 
  • No fees for pre-closure. 

4. LazyPay

LazyPay is more popular among shoppers as it allows users to pay at merchant locations using UPI.

  • Shop online and offline using the mobile app
  • Repay in 15 days or choose EMIs of 3, 6, 9, or 12 months
  • Some of the popular merchants accepting LazyPay are Zomato, Tata Sky, MakeMyTrip, Dunzo, GoIBIBO, BB Instant, and more
  • Can be gotten for minimal documentation of just PAN and Aadhaar details
  • No interest charges or hidden fees when you make payment on time. 

5. ZIP by Mobikwik - 

The BNPL service offered by Mobikwik is called ‘ZIP’. It is available through the Mobikwik mobile app. Here are its salient features –

  • Get instant credit limits of up to Rs. 30,000
  • Processing with just your basic details; no lengthy documentations
  • Enjoy interest free credit when you repay before due date
  • Helps improve your credit score when you pay on time regularly

Another interesting read for you: Credit Cards Vs Buy Now Pay Later Which Is The Better Option

Eligibility And Documentation Requirements For Buy Now Pay Later Services In New Delhi

Unlike credit cards or personal loans, Buy Now Pay Later are simpler finance options and don’t require you to submit tons of documentation. Here are the basic eligibility criteria:

  • Have to be an Indian citizen
  • Salaried employee
  • Over the age of 21 

Documents required are very simple too – 

Buy Now Pay Later New Delhi – FAQs

1. What is the maximum credit limit one can get under a Buy Now Pay Later scheme?

The credit limit is determined based on your credit score and gross monthly income. Consumers can get up to Rs.2 lakh credit limit based on their eligibility.

2. Does BNPL affect my credit score?

BNPL is a great way to improve your credit score. If you default or make late payments, it does affect your credit score.

3. Do I need to do KYC to use Lazypay buy now pay late option?

All BNPL schemes require you to do full KYC before you can start using the credit limit.

4. How much credit score do I require to get a BNPL credit?

A credit score of 700 and above is considered ideal to get a good credit limit on BNPL.

5. Can I get a credit limit on LazyPay with a credit score of 550?

Though credit score is also an important parameter to determine your eligibility, a credit score of 550 makes it difficult to get a credit limit on LazyPay. Even if you get one, it would be pretty low.

6. What happens if you don’t pay back your balance due on the due date?

You will be charged a late payment fee of Rs.250 + taxes for every instance of missed payment.

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