Check FlexiPay fees and charges

For the interest rates of 30, 60, and 90 days, it's noted that there's a 28% interest annually, for example, ₹70 per month on a purchase of ₹3,000.

In the first scenario, if a loan is obtained on the 1st for a duration of 15 days, it will be due on the 16th, and on that day, the customer's account will be automatically debited for the loan amount. It's important to note that there are no additional costs for the initial 15 days, as this has been provided as an upfront discount to offset any interest charged by the bank. Consequently, the total amount repaid to the bank equals the invoice amount of the order.

In the second scenario, for a loan tenure of 30 days, with disbursement occurring on January 10th and the due date set for February 9th, the customer will be charged both interest and principal after 30 days from the loan booking, specifically on February 9th (which includes the disbursement date).

For the third scenario, in the case of a 60-day tenure, interest will be charged for the initial 30 days on February 9th, and on March 9th (60 days inclusive of the disbursement date), interest for the remaining 30 days along with the principal will be recovered. Similar conditions apply for a tenure of 90 days.

Additional fees and charges include:

• Auto Debit Return Penal Interest: A 2% interest rate plus GST at 18% is applicable, subject to change per governmental instructions, with a minimum charge of ₹450.
• Late Payment Fee: Non-payment or partial repayment of the outstanding amount will incur a late payment penalty of 3% plus GST at 18%, subject to governmental instructions.
• Pre-Closure Charges: The pre-closure of the FlexiPay service currently incurs a charge of 4% on the outstanding principal balance plus GST at 18%, subject to governmental instructions.