Earlier people used to depend on their close ones or relatives to take loans. But doing so used to spoil their image in the society. This meant that you are putting your financial problem in front of another person. With changing times, taking loans has become easier.
Amazon Pay Later is Amazon's credit scheme. In this, you can buy goods or services and have to pay for it later. Now if you want to buy something on EMI, then it is not necessary that you have a credit card. Yes, if you use Amazon for shopping, then if you do not have money, you can use Amazon Pay Later.
What is Amazon Pay Later?
Amazon, in collaboration with some of its NBFC partners like Capital Float and IDFC First Bank, gives you a credit limit based on your eligibility, with the help of which if you do not have money or you want to buy a product from Amazon on EMI, then you can use the credit limit given to you.
Amazon Pay Later can be used to buy all the products sold on Amazon but that product should be at least Rs 3000, Amazon Pay Later is available with an initial limit of up to Rs 100,000 based on the eligibility of the customers,
Eligibility For Amazon Pay Later service
- To avail this facility, the minimum age should be 23 years.
- Must have an Amazon account with a verified mobile number.
- Valid PAN is mandatory.
- Bank account
- Address proof is also mandatory. For this, you can use driving license, voter ID card, Aadhaar card, utility bills (not older than 60 days) or passport.
Benefits of Amazon Pay Later
- You get Amazon Pay Later without income proof and guarantee
- Amazon gives you an initial credit limit of Rs 3000 to Rs 100,000 based on your eligibility
- To get this pay later, you will only need Aadhaar and PAN card
- You can pay your Amazon Pay Later bill in EMIs which is for 3 to 12 months
- You can get Pay Later from Amazon from anywhere in India
- You can shop for many products from Amazon without interest (NO Cost EMI)
- You can also pay your bills with Amazon Pay Later
- You can easily get this pay later from Amazon irrespective of your job profession
- Regular use of Amazon Pay Later increases both your CIBIL Score and credit limit
- After payment, you can use it immediately for the next product
- There is no annual fee
- You will not have to pay any kind of zoning fee
Amazon Pay Later Interest & Charges
- No Membership fee: No joining fee of any kind
- No Annual fee: No annual fee
- Interest: Up to 24% interest on some selected products
- Late fee: If EMI is not paid on time
- GST: Up to 18% GST will have to be paid on all charges
How To Apply Amazon Pay Later
- In the Amazon app, you have to go to Amazon Pay. Here you will see the option of Amazon Pay Later.
- By going to this option, you have to touch Get Started, after which a registration page will open.
- After this, you tap on Activate in 60 Seconds. This will start the KYC process.
- If you have already completed KYC on Amazon Pay, then you will not need this process.
- To verify it, you will have to give the last 4 digits of PAN. You will be given the credit limit on the next screen.
- If KYC is not complete, then complete the process through Aadhaar number, PAN number and OTP.
- After completion of this process, you will be given the credit limit.
- You can now use your Amazon Pay Later
Conclusion
Friends, Amazon Pay Later Whenever you want to buy a product on EMI, without any income proof and guarantee, you can easily get Amazon Pay Later just on your Aadhaar and PAN card. keep in mind that even after receiving Pay Later from Amazon, you can use it only with the product offer, Amazon Pay Later cannot be used without the offer. If you have any question regarding this post, then you can tell us by commenting in the comment box given below. Your feedback and suggestions are welcome as always. Thank you.
