How to get Freo Pay Postpaid UPI Loan? Freo Pay – Shop Now Pay Later
Sometimes we need to borrow money. In this alternative, Freo Pay – Shop Now Pay Later App can help you. From where you can take loan at 0% interest for 30 days.
In today’s post, you will get all the information related to one such Pay Later app Freo Pay.
read this also: How to open Freo Save Savings Account
What is Freo Pay – Shop Now Pay Later?
Freo Pay is a digital postpaid UPI app. Through which you can access the QR code of any merchant through UPI. You can pay by scanning with the Freo Pay app. Postpaid credit limit is given in this app which you can use. There will be no charge on the interest rate for the full 30 days.
With Postpaid UPI App Freo Pay (formerly Chillpay) – you can buy the things you need very easily.
Then later you can pay Freo Pay. You can use this app’s postpaid limit till tea shop or general store shop.
Read also: How to take PayTM Postpaid Credit loan
How to use Freo Pay Postpaid Credit Limit?
Using this app is very easy. You can get postpaid credit limit. Just fill in some basic information and access the postpaid credit limit instantly.
Looking for an easy way to shop for essentials from the comfort of your home?
So it is presented to you, here you can make instant purchases without deducting your money from your bank account. That is, there is a completely new way to buy any salmon without deducting money from the bank. This app is a convenient way.
Introducing FreeoPay (formerly known as Chilpay App) – now there is an easier way to shop for your daily needs with this app.
India’s first credit based Neobank
FREO is a first of its kind, credit-based Neobank in India. Which is designed to meet the banking needs of Millennials in India and South East Asia.
For many of its offerings, the company has partnered with banks to bring innovative solutions to its customers.
FREO’s parent company began its operations in India in late 2016 with the launch of MoneyTap. Since its launch, MoneyTap has grown to become one of India’s largest and most successful consumer fintech companies, in partnership with banks and NBFCs.
Through MoneyTap, FREO has attracted over 11M users to its ecosystem. Also distributed more than Rs 175,000.
In early 2021, FREO enters the BNPL space by launching an innovative product that enables QR code-based retail store purchases and online transactions.
Read also: How to get NIRA Personal Loan
Benefits of Freo Pay Postpaid Loan
Freo Pay gives you a zero-interest mini-limit that can be used instantly to buy your daily essentials. Scan the QR and shop at any merchant store in India.
Buy food, groceries, medicines, pay your utility bills. Even book travel tickets with Freeo Pay Scan and Pay Later.
If the merchant accepts UPI payments through apps like BHIM, PhonePe, Paytm, Amazon Pay, Freecharge, Mobikwik, Axis Pay, Jio Pay, etc.
So you can shop now and pay later using your Freo Pay Scan Now Pay Later.
This Made in India Pellator app brings to you seamless technology. Which will help in making the shopping experience easier.
Enough talk, let’s know, how to get Freo Pay Postpaid UPI Loan?
How to get Freo Pay Postpaid UPI Loan?
- Download Freo Pay app from Google Play Store.
- After this you will have to give some basic details.
- After giving the details it will calculate your credit limits.
- Your postpaid loan limit will then be displayed in the app.
- You are asked to upload Aadhaar to enable UPI Scan.
- Your Scan Now Pay Later will be activated after Aadhaar is uploaded.
Freo Pay Postpaid Loan Interest Rates and Charges
Billing cycle is from 1st to the end of the month. All your transactions are consolidated in one statement and a bill is generated the next day.
You have to repay the loan by the 5th of the month. Otherwise further transactions will not be allowed and late fee of Rs 10/day will be added for every day after 5th, subject to a maximum limit of Rs 250. 18% GST will be added on top.
Freo Pay Postpaid UPI App Review
Just some time back my Freo Pay Postpaid UPI Loan has been approved. In the beginning, you may get credit limit work like me. But if you use it regularly and pay on time, then it will be extended further.
Here you can see. My limit has been started from Rs.900. But it will increase with time.
You can get instant approval for a minimum amount ranging between INR 500 to 3,000 depending on your profile. You can use this credit limit to pay bills and shop for essentials online, wherever UPI payments are accepted.
You can enjoy your Freeo Pay Mini-Limit for 30-days interest-free!
No, you can use Freeo Pay to transact with various merchants (local merchants like bakers, grocers, shopkeepers, etc.) with only UPI ID. Money transfer is not available for non-merchants.
No, you can transact only at multiple merchants having the same UPI ID. Withdrawal is not allowed in your account.