Are you a shopaholic who wants to purchase extravagantly without using high amount of cash? Do you want to split the cost of such a high amount of online purchase which involved clothes, gadgets and much more?
We all have come across such option of online buying wherein we can buy using credit card. But the major drawback was, if you used credit card, your credit limit got reduced by the amount of purchase. But what if you don’t have a credit card or you want save your existing credit limit? Are you interested for such options?
Some time back lot of new apps have been launched wherein you can do online shopping without a credit card. One of the most famous and interesting feature of “Cardless EMI” has been started via an application named as ZestMoney.
Zest Money is India’s first virtual EMI. Also, this tool is useful even if you do not have credit card and is very quick and user friendly. It offers a seamless enrolment and real-time approval process, at the checkout of your favourite e-commerce sites.
Many times it has happened that customers wish to shop online, but are unable to do so as either they don’t have a credit card or are unaware about credit card purchases. But with the help of Zest Money this has become simpler. It is a completely online process and with help of this you can pay for your entire shopping cart amount in EMIs of your choice.
Some amazing benefits of ZestMoney Cardless EMI:
- You can quick and instant approval at checkout.
- Your account set-up is done very fast.
- EMI system is very flexible which can suit your budget.
- There is no zero pre-closure charges and has high approval rating.
- Even no hidden fees is involved.
How to apply for Zest Money EMI loan?
Below are ways in which you can apply for EMI loan:
- Go to the website and sign up to start the process.
- You need to create one account with extension zestmoney.in/merchant/. This extension is free to integrate but to use their service additional charges would be there. You’ll need a partner account with them before using the plug-in.
- You also need to find out your credit limit before getting started.
- Sign up on next and thus get started.
- Other options is that you can apply for a ZestMoney account from the checkout at prominent e-commerce websites.
ZestMoney has collaborated with various e-commerce portals for providing the best possible service to their valuable customers. While shopping on any of its merchant’s website, there will be ZestMoney on the checkout page.
During this process, ZestMoney maintains the full security of your transactions and ensure that you get authentic products.
How ZestMoney works?
- Zest Money first gives you approval for EMI and also specifies the ‘Credit Limit’ approval.
- There is also an option that your credit limit will increase in case you pay EMIs on time.
- It allows you to sign up for auto-debit from your bank account, which makes payment of EMIs simpler and easier.
- Also to be noted, for using Zest Money, you must be over 18. Along with that you should be an Indian resident and have a bank account, PAN card & Aadhaar card.
- Next you need to visit voucher code partner website of Zest Money.
- Further enter the product name, the loan amount, your phone number and Email ID.
- You loan application will get completed.
- A voucher code will be given to you which can be used for shopping.
- Later on the voucher amount can be paid in EMI form.
- Repayment of the amount can be done via NACH. First EMI due date will be 30 days from the date of approval.
ZestMoney EMI on Amazon
- If you have an approved credit limit you can instantly use it to get an Amazon voucher and pay in EMI.
- Otherwise, you need to first apply for a credit limit.
Once the above is done you have to follow the below steps:
- You will have to first apply for an Amazon voucher using your Aadhaar, PAN & other personal details.
- Next, your Zest Money account needs to be verified through net banking, PDF bank statements, KYC or uploading ID proof.
- Set up auto repay by uploading a signed NACH or eNACH.
- You will not receive your Amazon voucher.
ZestMoney EMI on Flipkart
- If you have an approved credit limit you can instantly use it to get a Flipkart voucher and pay in EMI.
- Otherwise, you need to first apply for a credit limit.
Once the above is done you have to follow the below steps:
- You will have to first apply for a Flipkart voucher using your Aadhaar, PAN & other personal details
- Next your Zest Money account needs to be verified through net banking, PDF bank statements, KYC or uploading ID proof.
- Set up auto repay by uploading a signed NACH or eNACH.
- You will not receive your Flipkart voucher.
What is the interest rate in ZestMoney?
ZestMoney charges an interest rate of 2.5% per month. This would be 30% if the loan tenure is 12 months.
What are the alternatives of ZestMoney?
In local market, many alternatives have come up to provide loans with credit card such as Cash Care, Slice Pay and such. Although there are many other apps such as Capital Float and Lending Cart but they provide business loans to online sellers and small merchants only.
How to Contact ZestMoney?
You can call them on +91 93434 22556 or write into help@zestmoney.in.
To conclude, many people in India do not have access to digital or cashless means of exchange. In order to provide reliable credit and empower Indian lives, ZestMoney is a great tool. With the help of data science and technology, people are able to buy things online and Zest money is helping them purchase easily without hefty monthly instalments. People do not have to depend upon credit card for loans.
ZestMoney has brought a win-win situation for both buyers and sellers. Buyers can easily purchase products on EMI basis and on other hand sellers have got chance to earn more revenue. Not only this, but products are also available at a fair monthly EMI without going through the long process of loan approval.
