Save Extra Credit this Festive Time with Buy Now and Pay Later Options
September 18, 2019
With the PayLater facility of ICICI Bank, you can now make purchases and pay for them later at zero interest. Check out this post to know some the benefits of this facility, including how it can also help you save more this festive season.
We all need a bit of financial assistance now and then, especially during the festive season. And, sometimes we need to dig into our savings against our wishes to get this small amount of extra finance.
Fortunately, there is now a better solution - PayLater from ICICI Bank. One of the largest private banks in the country has recently launched the PayLater facility, which allows you to get an instant digital loan.
What is PayLater?
As the name suggests, PayLater allows you to buy now and pay later. In other words, it allows you to get an instant zero interest digital credit of up to Rs <20,000>. You can use this amount for your festive shopping and then repay the same within 45 days. Penalty interest will be applicable if you are not able to clear the dues within this period.
After activating your PayLater Account, you can use it for various purposes like shopping, recharge, booking movie tickets, pay for cab rides and more. You can either select Internet Banking option at the time of checkout and choose PayLater after you log in to make your payments or select UPI option on the checkout page and use your PayLater UPI ID to make the payment. You can also use this facility for paying utility bills and even for making online/offline payments to merchant UPI IDs.
Benefits of using PayLater
• Instant credit
The most significant advantages of using pay later facility is that there is no documentation or approval involved. Eligible customers can use this facility anytime and anywhere.
• Zero interest credit
Unlike taking a loan or using a Credit Card, you need not pay any interest for using PayLater. As long as you clear the dues within 45 days from the date of purchase, there will be no interest or additional charges involved.
• Earn higher interest on Savings Account
People generally use the money in their Savings Account for purchases. By using the PayLater facility, you can maintain a higher balance in your Savings Account. This will allow you to earn a higher interest amount on your savings.
How can PayLater help save more?
ICICI Bank also offers a number for festive deals, vouchers, discounts and more for using the PayLater facility. For instance, you can get a cashback of up to <10>% if you use PayLater for payment on Paytm Mall. Similarly, there are a host of offers available on Zomato, BookMyShow, Uber, Swiggy, Myntra and more.
The offers are updated regularly to help you save extra on your online spends. So, PayLater not only allows you to get an interest-free credit for 45 days, but also brings in a host of discounts and offers so that you can save more.
Use PayLater today
The PayLater facility from ICICI Bank is currently available on an invite-only basis. If you are an ICICI Bank customer, log in to the Internet Banking portal of the bank or the official Mobile Banking app to check whether you have received the invite.
Invited customers can activate PayLater Account to start enjoying all the above benefits.
Apply for Paylater On Internet Banking.
Apply for Paylater On iMobile.
Apply for Paylater On Pockets.
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