FREECHARGE CREDIT LINE IS NOW ON ZFUNDS

WHAT IS FREECHARGE CREDIT LINE?

This is basically a credit facility from which you can “Buy Now and Pay Later” (BNPL). This has earned a huge amount of popularity in recent times because of its affordability and convenience to do transactions and reduce the burden on debtors. This can be considered as a small ticket loan that allows online and offline purchases when making instant payments. It permits the buyer to purchase products and pay the cost during a certain time period. 

The rationale behind why people will opt this BNPL plan is that it gives them a credit facility without any charge. In this article, we will discuss various features of the same and the process of using it. So let’s get started.

FEATURES 

1. You can get upto Rs 10,000 Credit facility for a month.
2. BNPL plan works in a way that you will spend now and pay within 30 days (For payments done using Freecharge Pay Later during the 5th of the month to 4th of the subsequent month, the repayment will be due as on 5th of the subsequent month)
3. This does not have any kind of processing fees.
4. No interest will be charged for the credit used which makes it a totally zero charge facility.
5. Hidden charges? Not a penny will be charged from you in the name of it. 
6. You can use this credit over 25,000 stores across the nation
7. You can use this facility to pay your bills and recharge your mobile, DTH, wifi etc.
8. To add, you can also use it to shop and pay at offline stores along with online.
9. To make it convenient for you, No OTP and pin is required once you set up 1 tap payment.
10. Totally paperless and easy registration process. Few minutes is all it takes. 

WHAT YOU NEED TO REGISTER?

1. PAN card
2. Personal and professional details 
3. Aadhar card linked with your phone number.
4. Once you agree to the terms and conditions, your account will be activated. 

Post activation, you can use the ZFunds app to track the Freecharge BNPL account and make use of the method.

STEPS TO REGISTER FOR FREECHARGE BNPL/CREDIT LINE

1. Install the ZFunds app from the Playstore or App Store and sign up with your details. 
2. If you are already a user, update your app and then log in.
3. Tap on the “Freecharge Credit Line” banner and then click on the “Check Eligibility” button at bottom.
4. Further you will need to tap on “Get Free Charge pay later”.
5. Provide the PAN number and a few more details.
6. Allow the app to take some time to set up your account.
7. After you see you are eligible for the Freecharge Credit Limit, you will have to click on “Activate” to enable the monthly credit.
8. Welcome! Now you can avail the facility with ease. 

FEES AND CHARGES 

To make it all clear to users, let’s discuss in what situations you will be charged. 

1. In case of NO DEFAULT, no fees or charges will be charged from you.
2. In case of default in repayments, i.e. not paying within 30 days of the bill, Rate of interest will be charged @ 7.95% per annum for the amount not paid. 
3. No pre-closure charges are there. 
4. Following are the details of Late Payment Charges (Including GST, wherever applicable)