A buy now, pay later plan (BNPL) is a loan offered to a customer at the point of sale so they can purchase merchandise on credit but without a credit card.BNPL makes money from both sellers and consumers. In case of sellers, they pay BNPL a fee ranging between 2% and 8% of the purchasing amount if the customer uses the BNPL facility. BNPL players also make money by solidifying their positions through various marketing or promotional spend given that the seller is able to increase conversion or traffic.
BNPL Loan Eligibility Criteria
FinCap seamlessly offers online BNPL loans. From BNPL loan instant approvals to quick disbursement, we’ve simplified finance for you.
No restrictions on usage of the loan amount: Unlike other loans, you are free to use the instant BNPL loan amount for any of your urgent requirements.
No collateral requirement: If you are applying for an online BNPL loan through FinCap, you don't need to pay or pledge security to get the best BNPL loans online (unlike the conventional way of collateral or security deposit).
Flexible repayment: You are free to choose the duration of the online Consumer Durable loan, but the main product is an enhancement to the salary and can be availed for a month. You can repay your loan at your convenience. To calculate Consumer Durable loan interest rates, use our Consumer Durable loan EMI calculator.
