Friday, September 17, 2021
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flipkart: Flipkart raises credit limit under ‘Buy Now Pay Later’ option to Rs 70,000 – Times of India

CHENNAI: A surge in high-value purchases and a stronger traction amongst millennials for the ‘Purchase now and Pay Later’ EMI facility have led to Ecommerce websites like Flipkart to extend the credit score restrict forward of the upcoming festive season.
Homegrown ecommerce market Flipkart has now prolonged the credit score restrict as much as Rs 70,000, from a earlier restrict of Rs 10,000, with versatile compensation plans with as much as 12 month tenures.
The EMIs, that are availed below the ‘Flipkart Pay Later’ product, may be paid again over versatile tenures of three, 6, 9 and 12 months for eligible clients, enabling them to buy merchandise this festive season.
Its head of fintech and funds group Ranjith Boyanapalli stated, “Many high-value purchases are made in the course of the festive season and we’ve strengthened our EMI choices to make sure that clients can handle funds and bills judiciously throughout this era. Within the occasions to come back, we are going to proceed to discover partnerships that may assist clients improve their way of life affordably.”
Flipkart may even offer no-cost EMI gives throughout a variety of merchandise, in addition to customary EMIs — in partnership with 18 main banks and monetary corporations. The tenures for no-cost EMIs and customary EMIs will probably be as much as 12 months and 36 months respectively.

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