Whether your salary is delayed, a client payment is overdue, or you are in between jobs, there are some essential expenses that do not stop. A money crunch might be a hurdle even when you need to buy something as simple as groceries. While it is advisable to wait till payday for big purchases, you can still make smaller purchases even when facing a cash crunch.
Today's market offers you a plethora of choices in the form of loan products that allow you to get your hands on things you desire without having to worry about available cash. One such option is HDFC Bank FlexiPay.
Besides enjoying the purchase in that moment, you can also choose a tenure and pay as per your convenience.
What's not to love, right? Let's read on to learn more about FlexiPay and its numerous benefits.
What is FlexiPay?
FlexiPay is essentially a "buy now, pay later" service that permits you to make purchases without worrying about making an upfront payment. It ensures you enjoy a stress-free shopping experience. Whether it's home decor, clothes,travel or groceries, you can count on this user-friendly, quick, and efficient payment method. Without breaking the bank, you can enjoy your purchases.
Benefits of FlexiPay
Convenient, fast and easy: Right from the setting up stage, which takes only a few minutes, all the way to checkout, the process is convenient, fast, and easy. Plus, it's easily integrated into almost all online and select offline store checkouts, making it hassle-free.
Flexible repayment: As it is, the FlexiPay service is hassle-free, but it goes one step further and makes things even simpler with a convenient repayment tenure. You can choose a repayment schedule starting from 15 days. There are no processing fees, hidden charges, or convenience fees.
Instant access to credit: You do not have to search for alternative credit options or worry about things like eligibility, interest etc. With FlexiPay, you can enjoy instant credit when you purchase, so it's a hassle-free and smooth purchase experience.
Anytime, anywhere credit with no EMI: Selected pre-approved HDFC Bank customers are approved for credit up to ₹20,000. Whether online or in-store, you can make purchases 24x7. Plus, there are no EMIs. You can also pay the interest amount as monthly instalments and the principal amount on the last day of the selected tenure. Also, the amount is auto debited from customer’s account at the end of tenure.
Variety of payments: Whether it's apparel, electronics, home decor, or travel, you can use FlexiPay for a variety of purposes. You can easily make purchases and pay later. HDFC Bank's FlexiPay has a tie-up with multiple vendors so you can enjoy whatever your heart desires.
FlexiPay Charges: There are four payment options to choose from - 15 days, 30 days, 60 days, and 90 days. From 30 days to 90 days, the rate of interest is 28% charged annually( i.e 2.33% per month)
Besides this, there are two more charges to keep in mind:
Late payment fee - Partial repayment or non-payment of the outstanding amount attracts a penalty of 3% plus 18% GST.
Although there are some charges to be wary of, as long as you keep those in mind, you can use FlexiPay to make your purchases. Learn more here.
Looking to take advantage of FlexiPay? Click here to start now!
Read more about the features of FlexiPay here.
*Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. FlexiPay is at the sole discretion of HDFC Bank limited. Loan disbursal is subject to documentation and verification as per Banks requirement.