Both Amazon and Flipkart are current gearing towards their respective Great Indian Festive sale and Big Billion days sales. During the sale days, the two ecommerce giants are expected to offer a host of exciting deals across product categories. However, in order to further encourage customers to purchase products, the companies are also paying a lot of attention in introducing interesting payment options. One of most recent ones is offering an instant credit to customers of up to Rs 60,000.
According to a report from Times of India, customers can simply check the credit amount they can avail via their respective mobile applications. Users are required to punch in their PAN card details along with Aadhaar number to get the credit details. The amount appointed to a customer depends on his/her shopping history, pattern and bill amounts of the products purchased in the past.
The two ecommerce giants have recently announced the option of getting instant credit on their respective platforms. Amazon introduced the service as a part of Amazon Pay, while Flipkart’s service seems to be the continuation of its Pay Later initiative launched in January. As reported by Economic Times, while choosing the instant credit option on Flipkart, users will get the option of Pay later next month or avail an EMI of 3 to 12 months. The interest on EMI isn’t mentioned, but is expected to be high. Most likely higher than the banks as well.
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Amazon Great India Festival sale will be held from October 10 to October 15, while the Flipkart Big Billion Day sales is said to be hosted from October 10 till October 14. Besides the heavy discounts and instant credit option, you can expect the e-retailers to offer no cost EMI on both credit and debit card across banks as well.