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Credit Policy

Buy Now Pay Later Availability

  • Available for purchases on mobile and desktop platform.(Registration can be done only through mobile)
  • For shopping with CreditKart, the account should be “active.”
  • Available Repayment tenure is 3 months.

About CreditKart Credit Policy

CreditKart offers a hassle-free shopping to its buyers through instant credit, via a completely digital process, for purchases using EMIs. After completion of a one-time setup process, which should not take more than 2 minutes, the buyer can avail Credit payment option during checkout using the credit line that will be assigned to you according to your credit score, and pay later over 3 EMIs. It does not require the buyer to provide credit card details. He/ She can easily track your purchases, repayments and limit history in ‘Credit Information’ for this payment mode.

What are the key benefits of CreditKart Credit Policy?

  • Instant decision on the credit limit.
  • The buyer does not need to share his Credit card details.
  • No interest or processing fee will be charged to the buyer.
  • No pre-closure charges. If the buyer makes the payment before the deadline, his/ her credit limit will be renewed or enhanced as per company’s policy; the buyer can pay the outstanding amount in EMIs or as per his convenience within the stipulated time frame.
  • Comply with legal obligations. . n certain cases, we collect and use your personal information to comply with laws. For example, we collect from sellers’ & suppliers’ information regarding their place of establishment, bank account information etc for identity verification and other purposes.
  • Simplified tracking of expenses and repayments. The buyer can easily track their purchases, repayments and limit history in the ‘Credit Information’ tab for this payment mode.

What are the eligibility criteria to avail CreditKart Credit?

The buyer needs to have a CreditKart account with a verified mobile number, a valid permanent account number (PAN) card and one of the officially valid document as address proof - Driving license, Voter ID card, Aadhaar or Passport. The buyer must be 18 years of age or above further eligibility is decided basis information already available with CreditKart and his/her credit bureau history. The buyer is provided the Credit limit on the basis of their credit/ banking history. This limit may vary from customer to customer depending on their Credit Bureau score, repayment pattern, monthly spends, purchase capacity etc.

Why am I not getting the option to pay using my Credit Line?

Not all the buyers will be eligible for Credit Line. Creditkart offers a Credit limit to the buyers on the basis of their Credit Bureau Score. If the credit score is below the set standard, no credit line will be assigned to the buyer. However, they can make the purchases by paying the full amount during the checkout.

What are the penalty charges if the EMIs are not paid on time?

The buyer has to repay the amount in the forthcoming 3 months consecutively, failing to do so will result into default and thus penalty charges would be levied. Penalty would be charged at the rate on 0.1% of the outstanding dues on a daily basis.

What will be the structure of the EMIs?

The total dues will be divided into 3 equal EMIs; the first month’s EMI will be higher than the consecutive EMIs.

How will the credit be refunded in case of order cancellation, return or exchange?

In case of return, the credit limit used to buy the product will be reflected in the buyer’s Credit account in 15 working days. Any cash transaction done for purchasing will be credited back to CreditKart Wallet and will be reflected in 15 working days.