Looking to buy something that you have been planning for a long time? But used up your money due to a sudden unanticipated event? Don’t drop your plans yet. You can still make your purchase. Wondering how? This is where MobiKwik’s PayLater Loan comes in. It offers a unique credit facility that allows users to spend money at over 1 lakh brands and pay for it later.
In this blog, we will discuss MobiKwik’s PayLater Loan feature – ZIP. From its benefits, and how it works to how you can get started with this Pay Later option, we will explore all.
What is MobiKwik ZIP?
MobiKwik ZIP – Buy Now Pay Later is a digital credit product offered by MobiKwik, which allows users to pay for purchases later. ZIP is a short-term loan that can be used to make purchases at over 1 lakh brands across various categories such as groceries, medicines, food, clothes, and electronics. This credit facility is available to all eligible MobiKwik users.
Benefits of Using MobiKwik Paylater Loan
For a better idea of the MobiKwik Paylater loan, here are the benefits of using this loan facility.
- Credit Limit Up to ₹60,000: With MobiKwik’s PayLater Loan, users can get a credit of up to Rs 60,000. This money can be used to make purchases at over 1 lakh brands as per their needs.
- Little to No Documentation: One of the biggest advantages of using MobiKwik’s PayLater Loan is that it requires minimal documentation. Users need to provide basic identification details to get access to the funds.
- Zero Interest: If a user uses MobiKwik to receive credit, there is 0% interest charged as long as the payment is made on time. This indicates that consumers will not be required to pay interest when making use of a short-term loan.
- Helps Users Build Credit Scores: It can help users build and improve their credit scores. By repaying their bills on time, users can demonstrate their creditworthiness and improve their credit scores.
How Does Pay Later Work and Where Can You Use It?
Pay-later loans have become a popular financial tool that allows people to make purchases without having to pay upfront. One such option is ZIP Pay Later, which is easy to use and provides a credit limit of up to Rs 60,000. With this credit, customers may shop for anything online, including groceries, food, and medications, and just pay later using the app. The ZIP bill is generated twice a month, after 15 days, making it convenient for users to pay later.
It is important to note that the credit disbursed by MobiKwik is at 0% interest if the bill is paid on time. ZIP Pay Later can be used for over one lakh brands to order pharmaceuticals, groceries, clothing, food, and gadgets. You can also pay bills like electricity, gas, DTH Recharge, mobile bills and more.
Click here – What Is PG Full Form?
How to Avail of the Pay Later facility?
Activating the ZIP Pay Later facility on MobiKwik is a simple process.
- Download MobiKwik and sign up
- Click on ‘See All Services.’
- From there, they need to select ‘ZIP/ Pay Later’.
- Complete your KYC if you haven’t
- Click on ‘Activate ZIP.’
- Once the activation process is complete, users can start using it to make purchases and pay bills online.
MobiKwik’s PayLater Loan is a smart financial tool that can offer users the financial flexibility they need to live a comfortable life. With the PayLater Loan from MobiKwik, you may get a loan easily and gain financial freedom. With minimal documentation and a credit limit of up to ₹60,000, users can make purchases at over 1 lakh brands and pay for them later. With an easy activation process, this is an excellent payment option that can help users manage expenses without worrying about immediate payment.