■ BEST TOP 6 BUY NOW PAY LATER APPS IN INDIA
➤ At the Most basic level, BNPL Apps allow you to buy anything without making the Full payment for it. Allows you to purchase anything without making the Full payment for it
➤ For example, if you purchase any phone or product through pay later apps then you should have 15 to 30 days time to pay the amount back with no extra cost. But if you don’t pay the amount between 15 to 30 days you have to pay extra charges and it will also negatively affect your credit score
➤ Buy now pay later apps just like a credit card but pay later apps are easy installation compared to credit cards and pay later apps are easy to use without any hidden charges and these apps give you offers and discounts on every shopping etc.
■ Here are the Best Top 6 buy now pay later apps in India
- Lazypay
- Simpl
- Paytm postpaid
- Postpe
- Mobikwik zip wallet
- OlaMoney postpaid
■ Here are the 4 parameters we will compare below in this article
1. Credit limit
2. Billing cycle
3. Charges and penalties
4. Banking transfer options
1. The first parameter we will compare these 6 apps is their credit limit Let’s see the limit
- Lazypay: Lazypay gives you starting limit of 1500 credit limit
- Simpl: Simpl pay gives you starting limit of 1100 credit limit
- Paytm: Paytm postpaid gives you starting limit of 750 credit limit
- Postpe: Postpe gives you starting 3000 credit limit
- Mobikwik zip: Mobikwik zip wallet gives you starting limit of 12000 credit limit
- OlaMoney postpaid: OlaMoney postpaid give you starting limit of 500 credit limit
2. The Second parameter is Billings cycles of payments
➤ These 6 apps are different billings cycles dates
➤ Apps Billing Cycle
1. lazypay
15 Days
1st and 16th of every month
Grace Period:3Days LazyPay
2. Simpl
15 Days
1st and 16th of every month
Grace Period:5Days Simpl
3. Paytm postpaid
Paytm Postpaid 1st of every month
Grace Period:7Days
30 Days
4. Postpe
Post pe 1st of every month
Grace Period:5Days
30 Days
5. Mobikwik zip wallet
15 Days
1st and 16th of every month
Grace Period: 5Days
6. OlaMoney postpaid
30 days
27th of every month
OlaMoney Postpaid Grace Period:7Days
3. The 3rd parameter which we are comparing in these 6 apps In case you if you Don’t pay your bills on time, what fees and penalties will be applicable?
➤ Before showing you this data, let me tell you the structure Let me explain to you the structure of these charges
Apps late fees interested and charges
1. lazypay 0-1990
200-499-50
500-1999 -100
25000+500 1.50%per month
2.Simpl 0-100-10
101-25025
251-500-50
501+——- -100 NO
3. Paytm postpaid 101-250-10
251-500-25
501-1000-50
5000+ 500 3%Per Month
4. Postpe 101-250-10
251-500-25
501-1000-50
5000+ 500 3%Per Month
5.MobiKwik 101-500 Rs. 100 2% of the total outstanding
Rs. 501-1000 Rs. 200
Rs . 1001-2500 Rs. 300
Rs. 2501-5000 Rs. 500
Rs. 5001-7500 Rs. 750
Rs. 7501-10000 Rs. 1000
Rs. 10001-20000 Rs. 1200
> 20000+ Rs. 1500
6. OlaMoney Postpaid 0-2500…0
251-500-50
501-750-75
5000+ 500 No Clarity
In the range of 1-1.50%
per month
4. The fourth or last parameter is banking transfer options
Apps Bank Transfer Options
1.LazyPay YES
Proc.A fee of 2%
2. Simpl NO
3. Paytm Postpaid YES
THROUGH PAYTM MERCHANT
Hidden charges
4. Postpe YES
Proc.A fee of 3%
5. Mobikwik zip wallet YES
Through 3 parties apps
Proc.A fee of 6%
6. OlaMoney Postpaid YES
Ola Postpaid Proc.Fee of4%
FAQs
1. Which app is best for Pay later?
according to my experience, Lazypay gives me good experience and is easy to use
2. Can I recharge through a pay later app?
yes you can easily recharge your phones with pay later apps
■ CONCLUSION
we tried our best to make a detailed comparison in this article I have discussed the best 6 buy now pay later apps in India with detailed