With InstaCred Cardless EMI, an online buyer may obtain credit while acquiring high-value items and services by paying in equated monthly installments (EMI) rather than making a down payment. InstaCred EMI is a service that allows consumers to activate, use, and manage a Cardless EMI credit line on behalf of a bank or lender through our merchant network.
This is not a Personal Loan or Credit Card, however it permits you to obtain a credit line that allows you to purchase your preferred goods and services and pay for them in equivalent monthly installments (EMIs) at low interest rates.
For example, if you want to buy a washing matching or go on a vacation that costs INR 40,000, you may split the cost into equal monthly payments at a low interest rate by utilizing the InstaCred EMI payment option.
About InstaCred EMI
InstaCred, Flexmoney’s 360° Instant Cardless Credit Platform, allows you to Buy Now and Pay Later with the Credit Limit supplied by your trusted bank/NBFC. Through its network of top online websites and in-store merchants, InstaCred provides Cardless EMI and Pay Later services. There won’t be any paperwork! A credit card is not required! Simply input your cell phone number to transact.
Key Highlights of the InstaCred EMI
- You will not be charged a joining or yearly fee for this EMI card.
- You will not be required to give any proof of your income.
- There is no need for a guarantee or assurance.
- You may have a limit of up to 2 lakhs here.
- You will get approval of your InstaCred EMI in less than 5 minutes.
- You may use this InstaCred EMI to purchase any goods on EMI from any partner website.
- IDFC First Bank provides Consumer Durable Loans with InstaCred EMI.
- You may apply for this emi card from any location in India.
- Payment terms range from three to twenty-four months.
- There will be no processing cost in most cases.
- You may use this InstaCred on Amazon and Filpkart as well.
- Completely digital application procedure with a mobile phone number.
- You are not required to use your credit or debit card in any way.
InstaCred EMI Features
There is no requirement for a card. Only a mobile phone number is necessary.
There is no need to submit an application.
Auto Repayments facility available. Never, miss a payment deadline.
How the InstaCred EMI function?
Hundreds of merchant partners provide the option to pay with InstaCred EMI when making a transaction. To begin, select the InstaCred option on the Merchant website’s payment page. Log in and click to Buy with InstaCred to see the most recent Merchants and Offers.
Step 1- Choose Cardless EMI from the shopping Website
Step-2: Enter your Mobile Number
Step-3: Select your Bank like IDFC, ICICI etc.
Step-4: Enter your PAN No. and debit card number
Step-5: Submit the OTP to complete the transaction
Processing fees on InstaCred EMI
Fees and charges on your loan are determined by your bank/lender. If there are any processing fees, these will be shown to you at the time of transaction completion.
Partial payment with InstaCred EMI
No, they do not accept partial payment transactions using InstaCred Cardless EMI.
How much interest will I have to pay on this EMI?
Your bank/lender determines interest rates. The appropriate interest rate will be presented to you at the time of transaction.
InstaCred EMI Refund
The Merchant where you made the transaction determines your return policy. Once the merchant initiates a refund for your goods, the money will be returned to your bank/lender. If the return amount is less than the loan amount, you must pay the difference to the bank. We recommend that you consult with your bank/lender to ascertain the sum owed in the event of a return.
What is the procedure for pre-closing an EMI?
The terms of your bank/lender determine EMI pre-closure. You can contact your bank/lender to pre-close your EMIs. Your loan’s terms and conditions will be presented to you at the time of transaction.
Is there a Late Payment Fee attached to my InstaCred EMI?
Fees and charges on your loan are determined by your bank/lender. Your bank or lender may levy a late payment fee. Please verify with the bank/lender for the fee schedule. Your loan’s terms and conditions will be communicated to you at the time of transaction.
Can I alter the date of my EMI?
No, your EMI payback date is set by your bank/lender. This cannot be changed.
How can I get started with my InstaCred EMI?
Choose InstaCred as your payment method on the checkout page. InstaCred Cardless EMI, InstaCred EMI, or InstaCred should be avoided. Following your decision, you will be sent to the InstaCred payment confirmation page. To confirm the purchase, choose your EMI tenure and input the OTP.
How can I pay off my InstaCred EMI?
After Lending Partners has made the loan EMI available to you, you will be able to see it. EMI payments must also be paid to your bank/lender. You can contact your bank/lender if you have any questions about your loan.
How does one go about getting an InstaCred EMI pre-closed?
The terms of your bank/lender govern EMI pre-closure. Contact your bank/lender to pre-close your EMIs. Your loan’s terms and conditions will be given to you at the time of transaction.
EMI Facility Shopping Websites
There are about 3800 plus and the top merchants includes:
InstaCred EMI Lending Partners
- IDFC Bank
- HDFC BANK
- ICICI Bank
- Kotak Mahindra Bank
- Home Credit
- Federal Bank
How to Apply InstaCred EMI?
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