8 Best Buy Now Pay Later Apps in India 2024

Do you want to buy something online or offline but don’t have enough cash or credit limit?

Do you want to enjoy the convenience of paying later without paying any interest or fees? Do you want to improve your credit score by paying your bills on time?

If you answered yes to any of these questions, then you might be interested in using buy now pay later apps.

These are apps that allow you to buy products or services now and pay for them later in easy installments or at the end of the month.

You can use these apps to shop at various online and offline merchants, such as Amazon, Flipkart, Myntra, Big Bazaar, Reliance Digital, etc.

Benefits of Using Buy Now Pay Later Apps in India

Buy now pay later apps are becoming very popular in India and globally, as they offer many benefits to consumers and merchants alike. Some of the benefits are:

  • Convenience: You don’t have to worry about carrying cash or cards, or entering your card details every time you shop. You can simply use your phone to scan a QR code or enter a PIN and complete your purchase.
  • Affordability: You don’t have to pay any interest or fees if you pay your dues on time. You can also choose a repayment plan that suits your budget and cash flow.
  • Flexibility: You can choose when and how much to pay, depending on your app and merchant. You can also change your repayment plan or extend your due date if needed.
  • Credit score improvement: By using buy now pay later apps and paying your bills on time, you can build a positive credit history and improve your credit score. This can help you get better loan offers in the future.

According to a report by GlobalData, the (BNPL) buy now pay later market in India is expected to grow at a compound annual growth rate (CAGR) of 44.1% from 2020 to 2024, reaching $16.9 billion by 2024.

Globally, the buy now pay later market is projected to reach $995 billion by 2026, growing at a CAGR of 21.2% from 2019 to 2026.

Best Buy Now Pay Later Apps in India

With so many buy now pay later apps available in India, how do you choose the best (BNPL) app for your needs?

To help you with that, we have reviewed and compared 8 best buy now pay later apps in India based on their features, benefits, drawbacks, and ratings. Here they are:

1. StashFin

Buy Now Pay Later Apps in India

StashFin is one of the best buy now pay later apps in India that offers instant loans up to Rs. 5 lakhs with flexible repayment options. You can use StashFin to buy anything from electronics, furniture, appliances, travel, education, health, etc.

Some of the features and benefits of StashFin (BNPL) are:

  • Low interest rates: StashFin charges interest rates starting from 11.99% per annum, which are lower than most credit cards and personal loans.
  • No hidden charges: StashFin does not charge any processing fee, prepayment fee, late payment fee, or any other hidden charges.
  • Easy eligibility criteria: To apply for StashFin, you need to be an Indian citizen above 18 years of age, have a monthly income of Rs. 15000 or above, and have a bank account and PAN card.
  • Quick approval and disbursal: StashFin approves your loan application within minutes and disburses the loan amount within 4 hours to your bank account.
  • StashFin Visa card: StashFin also provides you with a StashFin Visa card that can be used at any merchant or ATM that accepts Visa cards. You can also use the card to withdraw cash up to 80% of your loan limit.

Some of the drawbacks or limitations of StashFin are:

  • Minimum loan amount: The minimum loan amount that you can avail from StashFin is Rs. 1000, which might be too high for some small purchases.
  • Maximum tenure: The maximum tenure that you can choose for repaying your loan is 36 months, which might be too short for some large purchases.
  • Credit score requirement: To get approved for StashFin, you need to have a credit score of 650 or above, which might be difficult for some people with low or no credit history.

StashFin is rated 4.4 out of 5 stars on Google Play Store and 4.6 out of 5 stars on App Store based on user reviews . Users have praised StashFin for its fast and easy process, low interest rates, and customer service.

2. CASHe Pay Later

Buy Now Pay Later Apps in India

CASHe Pay Later is another best buy now pay later app in India that offers short-term personal loans up to Rs. 3 lakhs with flexible repayment options.

You can use CASHe Pay Later to buy anything from fashion, gadgets, travel, entertainment, etc.

Some of the features and benefits of CASHe Pay Later are:

  • Low interest rates: CASHe Pay Later charges interest rates starting from 12% per annum, which are lower than most credit cards and personal loans.
  • No prepayment charges: CASHe Pay Later does not charge any prepayment fee, which means you can pay off your loan before the due date and save on interest.
  • Easy eligibility criteria: To apply for CASHe Pay Later, you need to be an Indian citizen above 18 years of age, have a monthly income of Rs. 15000 or above, and have a bank account, PAN card, and Aadhaar card.
  • Quick approval and disbursal: CASHe Pay Later approves your loan application within minutes and disburses the loan amount within 10 minutes to your bank account.
  • CASHe EMI card: CASHe Pay Later also provides you with a CASHe EMI card that can be used at select online and offline merchants that accept RuPay cards. You can also use the card to get discounts and cashback offers.

Some of the drawbacks or limitations of CASHe Pay Later are:

  • Minimum loan amount: The minimum loan amount that you can avail from CASHe Pay Later is Rs. 9000, which might be too high for some small purchases.
  • Maximum tenure: The maximum tenure that you can choose for repaying your loan is 12 months, which might be too short for some large purchases.
  • Credit score requirement: To get approved for CASHe Pay Later, you need to have a credit score of 600 or above, which might be difficult for some people with low or no credit history.

CASHe Pay Later is rated 4.1 out of 5 stars on Google Play Store and 4.5 out of 5 stars on App Store based on user reviews .

3. Bajaj Finserv EMI Network Card

Buy Now Pay Later Apps in India

Bajaj Finserv EMI Network Card is one of the most popular (BNPL) buy now pay later apps in India that offers no-cost EMI financing up to Rs. 4 lakhs on a wide range of products and services across 1 lakh+ partner stores.

You can use Bajaj Finserv EMI Network Card to buy anything from electronics, appliances, furniture, fashion, travel, education, health, etc.

Some of the features and benefits of Bajaj Finserv EMI Network Card are:

  • Zero down payment: Bajaj Finserv EMI Network Card does not require any down payment for most of the products and services, which means you can buy them without paying anything upfront.
  • Zero interest rate: Bajaj Finserv EMI Network Card does not charge any interest rate on most of the products and services, which means you only pay the actual price of the product or service in easy installments.
  • Zero processing fee: Bajaj Finserv EMI Network Card does not charge any processing fee for most of the products and services, which means there are no additional charges or hidden costs involved.
  • Easy eligibility criteria: To apply for Bajaj Finserv EMI Network Card, you need to be an Indian citizen above 21 years of age, have a monthly income of Rs. 20000 or above, and have a bank account and PAN card.
  • Quick approval and activation: Bajaj Finserv EMI Network Card approves your application within minutes and activates your card within 24 hours.
  • Bajaj Finserv Wallet app: Bajaj Finserv EMI Network Card also provides you with a Bajaj Finserv Wallet app that can be used to access and manage your card. You can also use the app to get exclusive offers and deals from partner merchants.
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Some of the drawbacks or limitations of Bajaj Finserv EMI Network Card are:

  • Annual fee: Bajaj Finserv EMI Network Card charges an annual fee of Rs. 499, which is deducted from your first EMI payment.
  • Credit score requirement: To get approved for Bajaj Finserv EMI Network Card, you need to have a credit score of 750 or above, which might be difficult for some people with low or no credit history.

Bajaj Finserv EMI Network Card is rated 4.3 out of 5 stars on Google Play Store and 4.4 out of 5 stars on App Store based on user reviews.

4. Uni Paycheck

Buy Now Pay Later Apps in India

Uni Paycheck is a new (BNPL) buy now pay later app in India that offers salary advance loans up to Rs. 1 lakh with flexible repayment options.

Some of the features and benefits of Uni Paycheck are:

  • Low interest rates: Uni Paycheck charges interest rates starting from 12% per annum, which are lower than most credit cards and personal loans.
  • No prepayment charges: Uni Paycheck does not charge any prepayment fee, which means you can pay off your loan before the due date and save on interest.
  • Uni Visa card: Uni Paycheck also provides you with a Uni Visa card that can be used at any merchant or ATM that accepts Visa cards. You can also use the card to withdraw cash up to 50% of your loan limit.

Some of the drawbacks or limitations of Uni Paycheck are:

  • Income proof requirement: To get approved for Uni Paycheck, you need to provide your income proof such as salary slip or bank statement, which might be inconvenient for some people.

Uni Paycheck (BNPL) is rated 4.5 out of 5 stars on Google Play Store and 4.7 out of 5 stars on App Store based on user reviews .

5. MobiKwik Zip Pay Later

Buy Now Pay Later Apps in India

MobiKwik Zip Pay Later is one of the best buy now pay later apps in India that offers interest-free credit up to Rs. 60000 for online shopping across 2500+ partner merchants.

Some of the features and benefits of MobiKwik Zip Pay Later are:

  • Zero processing fee: MobiKwik Zip Pay Later does not charge any processing fee for your purchases, which means there are no additional charges or hidden costs involved.
  • Quick approval and activation: MobiKwik Zip Pay Later approves your application within minutes and activates your credit line within 24 hours.
  • MobiKwik app: MobiKwik Zip Pay Later also provides you with a MobiKwik app that can be used to access and manage your credit line. You can also use the app to get exclusive offers and deals from partner merchants.

Some of the drawbacks or limitations of MobiKwik Zip Pay Later are:

  • Annual fee: MobiKwik Zip Pay Later charges an annual fee of Rs. 399, which is deducted from your first EMI payment.

MobiKwik Zip Pay Later is rated 4.2 out of 5 stars on Google Play Store and 4.3 out of 5 stars on App Store based on user reviews .

6. Paytm Postpaid

Buy Now Pay Later Apps in India

Paytm Postpaid is one of the most widely used (BNPL) buy now pay later apps in India that offers interest-free credit up to Rs. 100000 for online and offline shopping across 5000+ partner merchants.

Some of the features and benefits of Paytm Postpaid are:

  • Zero interest rate: Paytm Postpaid does not charge any interest rate on your purchases, which means you only pay the actual price of the product or service in easy installments.
  • Zero processing fee: Paytm Postpaid does not charge any processing fee for your purchases, which means there are no additional charges or hidden costs involved.
  • Quick approval and activation: Paytm Postpaid approves your application within minutes and activates your credit line within 24 hours.
  • Paytm app: Paytm Postpaid also provides you with a Paytm app that can be used to access and manage your credit line. You can also use the app to get exclusive offers and deals from partner merchants.

Some of the drawbacks or limitations of Paytm Postpaid are:

  • Annual fee: Paytm Postpaid charges an annual fee of Rs. 250, which is deducted from your first EMI payment.

Paytm Postpaid is rated 4.4 out of 5 stars on Google Play Store and 4.5 out of 5 stars on App Store based on user reviews .

7. Slice Card (BNPL)

Buy Now Pay Later Apps in India

Slice is a best buy now pay later app in India that offers interest-free credit up to Rs. 60000 for online and offline shopping across 5000+ partner merchants. You can use Slice to buy anything from fashion, gadgets, travel, entertainment, etc.

Some of the features and benefits of Slice are:

  • Zero interest rate: Slice does not charge any interest rate on your purchases, which means you only pay the actual price of the product or service in easy installments.
  • Zero processing fee: Slice does not charge any processing fee for your purchases, which means there are no additional charges or hidden costs involved.
  • Quick approval and activation: Slice approves your application within minutes and activates your credit line within 24 hours.
  • Slice app and card: Slice also provides you with a Slice app and card that can be used to access and manage your credit line. You can also use the app and card to get exclusive offers and deals from partner merchants.

Slice is rated 4.6 out of 5 stars on Google Play Store and 4.8 out of 5 stars on App Store based on user reviews .

8. LazyPay (BNPL)

Buy Now Pay Later Apps in India

LazyPay (BNPL) is one of the oldest buy now pay later apps in India that offers interest-free credit up to Rs. 100000 for online shopping across 250+ partner merchants. You can use LazyPay to buy anything from food delivery, movie tickets, travel bookings, etc.

Some of the features and benefits of LazyPay are:

  • Zero processing fee: LazyPay does not charge any processing fee for your purchases, which means there are no additional charges or hidden costs involved.
  • Quick approval and activation: LazyPay approves your application within minutes and activates your credit line within 24 hours.
  • LazyPay app: LazyPay also provides you with a LazyPay app that can be used to access and manage your credit line. You can also use the app to get exclusive offers and deals from partner merchants.

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Conclusion: Shop Smart, Pay Later, and Enjoy!

And there you have it, your guide to the world of (BNPL) Buy Now Pay Later apps in India that are changing the way we shop.

Remember, these apps are your shopping buddies, designed to make your life easier. From Stashfin’s simplicity to Cashe Pay Later’s credit-check-free approach, there’s something for everyone.

But here’s the thing – while these apps are all about convenience, don’t forget to manage your spending and repayments wisely. Shop to your heart’s content, but with a dose of financial smarts.

So go on, shop smart, pay later, and relish the world of shopping like never before.

FAQs

What are Buy Now Pay Later (BNPL) apps?

Buy Now Pay Later apps are digital platforms that enable users to make purchases immediately and defer the payment to a later date. These apps offer flexibility and convenience, allowing you to shop without an immediate financial impact.

How do Buy Now Pay Later apps work?

Buy Now Pay Later apps work by allowing you to select the items you want to purchase and then choosing the option to pay later at checkout. You can spread out your payments over a specified period, often with interest-free options during promotional periods.

Are there any credit checks involved in using these apps?

While some Buy Now Pay Later apps require credit checks, many of them offer no credit check options. This inclusivity allows individuals with varying credit backgrounds to utilize these apps for their shopping needs.

Can I use Buy Now Pay Later apps for all types of purchases?

Buy Now Pay Later apps are versatile and can be used for a wide range of purchases, including electronics, clothing, groceries, and more. Some apps even have partnerships with various stores, expanding your options.

How do I choose the right Buy Now Pay Later app for me?

When choosing a Buy Now Pay Later app, consider factors such as interest rates, repayment plans, available partner stores, user experience, and any additional perks or benefits offered by the app. Assess your financial needs and preferences to make an informed decision.

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