Select an App. First, select an app to create an account for BNPL. Look at the table below to understand different types of applications.
Complete KYC. Complete the KYC process on your selected and downloaded app
Check Credit Limit. The app will give you a credit limit to begin with. It is the maximum amount of money that can be borrowed from the app by you.
The information given in table below is subject to change as per the market –
Lender | Interest-Free Period/ Interest Charged | Credit Limit | Additional Information |
Bharat Pe’s Post Pay | Depends on the amount borrowed. | 10 Lakhs | Make payment through PostPe by downloading the app. It is also launching a PostPe card which can be used in physical stores. Cashbacks and rewards after reaching certain creditworthiness milestones. |
LazyPay, powered by PayU | 15 Days | 1 Lakh | Eligible only after proprietary consumer profiling and risk analysis carried out by LazyPay. You need to be a member to use the service. |
Simpl | 15 Days | The spending limit is set by default, following which the limit is constantly updated based on how regularly repayment is made. | Can use service only through the Simpl app. |
Zest Money | EMI Installments | Credit limit determined after KYC verification | Can shop across 3000+ online merchants. |
ePayLater | 14 Days; 3% per month in case of delay | 25,000 to 25 Lakh | The amount gets debited automatically from linked bank A/C. |
Paytm’s Paytm Postpaid | 30 Days | 60,000 | 60,000 |
HDFC’s Flexi Pay | 15-90 Days | 1000- 60,000 | Only Current A/C and Savings A/C holders at HDFC Bank are eligible. |
ICICI’s ICICI Pay Later | 45 Days; Charged on a monthly basis | 1 Lakh | Must hold an ICICI bank account |
That’s it. You are ready to use BNPL!