Is your Diwali budget running low? Feeling hesitant to borrow money from friends and family? Well, everyone deserves to enjoy the festival of lights the way they want. Here's what you can do if you are running short of money for the last-minute shopping!
With the advent of technology, you don't have to borrow from others at times like this. Instead, you can make use of these three lenders to shop now and pay later.
ZestMoney
India's first EMI financing platform ZestMoney aims to improve the lives of over 30 crore households in the country who do not have access to credit cards or other financing options due to insufficient credit history.
This app uses artificial intelligence and digital banking to help its users enjoy the convenience of EMIs on smartphones, fashion, travel, education, healthcare and more. No credit card, debit card or credit score is required. However, ZestMoney can be used only for online shopping.
How to go about ZestMoney?
Firstly sign up with ZestMoney. Create your profile to sign up with ZestMoney and find out your credit limit.
To activate your credit limit, Upload your KYC and set up automatic repayments to start using your credit limit across its merchant partners.
Once you register and know your credit limit, you can see a list of online shopping brands. Choose the brand you prefer. It will take you to the website. Now, buy whatever you want.
Once you are done, click on proceed and under the payments option, click on 'ZestMoney' after which you will be asked to select the EMI plan. Click on any one of the given plans such as 3 months, 6 months etc. and complete your purchase.
LazyPay
This is another credit provider who lets you purchase what you want now and you can pay the money back within 15 days. You can also convert your purchases into EMIs. LazyPay can be used only if you do online shopping.
How to make payments through LazyPay?
Open the LazyPay website. You will be asked to enter your mobile number. After that, enter the OTP which was sent to your mobile number.
Once you are done, it will take you to the next step. Enter all the required details such as PAN number, name as mentioned in the PAN card, date of birth etc.
Check if all the details you have entered are correct and check the verification box at the bottom. After that, click on next.
You will be taken to the next stage where you have to set up the autopayment. Once that is done, you are good to go.
PaySense
This is yet another consumer lending platform which can be used to make instant payments. PaySense also offers personal loans of up to Rs 5 lakhs, vehicle loans, wedding loans, travel loan etc.
How to use PaySense?
Install the PaySense online loan app on your phone.
Check your personal loan eligibility.
Provide KYC documentation like identity proof (Aadhar/PAN/VoterID), address proof (Aadhar/Utility bills/Rental agreement), income proof (bank statement) and add a photograph.
Once you complete this process, you will be able to make instant payments.