Buy Now Pay Later in EMI

Buy Now Pay Later - A financing option that could be ideal for you!

Know all that you need to regarding the BNPL (Buy Now Pay Later) payment solution here.

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Get No-Cost EMIs at leading online stores. Shop using your Bajaj Finserv EMI Network Card

What is Buy Now Pay Later

Buy Now Pay Later or BNPL is a payment solution that offers you the option of dividing the cost of your purchase into easy EMIs. As a result, you can purchase high-value items with relative ease without having to disturb your budget.

How Does Buy Now Pay Later Work

As mentioned earlier, with BNPL cards, you get to ‘Buy Now and Pay Later’. If you have a card that offers this facility, you can use it to budget your purchases. You can then choose a preferable repayment window to pay back the total amount borrowed. Most ‘Buy Now Pay Later’ services that offer point-of-sale instalment loans let you enjoy EMI at no additional charges. You are, however, required to pay an initial down payment amount. As a result, it functions as a suitable payment option both online as well as offline.

Buy Now Pay Later With Bajaj MARKETS

When you shop at Bajaj Ekart, you can enjoy Buy Now Pay Later services through BNPL partners Walnut 369 and Instacred. All you need to do is select the BNPL option at the checkout after selecting the product you want to purchase. For Walnut 369, you need to provide your PAN, Aadhaar, and mobile numbers. For Instacred, you need to provide the bank name and the mobile number. To avail the BNPL service from Walnut 369, the minimum amount is ₹999. In the case of Instacred, the minimum purchase amount depends on the selected bank and varies between ₹5,000 and ₹7,000.

Eligibility criteria & documents required for BNPL

There are a few conditions that you will have to fulfil to be eligible for the Buy Now Pay Later facility:


  • You should be an Indian resident  

  • You should live in a major first or second tier city in India  

  • You should be a salaried individual  

  • Your age should be between 18 and 55 years  

  • You should have a bank account along with all the required KYC documents.  

Benefits of Buy Now Pay Later

There are several advantages to buying now and paying later. These include:


  • Buy big-ticket items without disturbing your budget

  • Using a BNPL card well and repaying on time can help you build a solid credit history and improve your credit score

  • In most cases, BNPL payments can be divided across three to four EMIs

  • Applying for a BNPL card doesn’t hurt your credit score as there is no hard inquiry 

  • The application process is simple and easy to complete

 You can buy now and pay later at no-cost EMI.

Difference between BNPL and Credit Card

There are some key differences between a credit card and a BNPL facility:  

Credit Cards


There can be hidden charges levied

Transparent and low-cost pricing model

Acceptance is easy and flexible

Only certain fintech organisations and e-retailers provide BNPL services.  

A good credit history is needed

Credit history is not mandatory  

Come with standard interest-free periods

Interest-free periods might go on for 48 months

It is slightly difficult to get approval

Approvals are easy and hassle-free  

The option of paying only the ‘minimum due’ is present  

The fixed EMI must be paid as per the scheduled date  

Interest rates can go up to 48%

Interest rates can go up to 24%  

Interest rates are fixed  

Interest rates vary depending on several factors  

Difference between BNPL and Personal Loan

There are a few differences between a personal loan and a BNPL facility:  

Personal Loans


Maximum loan amount can go above Rs. 25 lakhs  

Maximum loan amount is limited to ₹1 lakh

Can be both secured and unsecured loans  

Only secured loans can be taken

Interest is calculated on the principal sum

No interest is calculated on the principal sum

There are no restrictions on the spending of the loan  

Limited usage is offered

Loan tenure can go up to 60 months

Loan tenure is limited to 90 days

BNPL players in the Indian Market

The Buy Now Pay Later scene in the Indian market is growing by leaps and bounds. Currently, there are as many as 9 different BNPL players operational in the country. Here’s a quick look at who they are. 


  • LazyPay 

  • Simpl

  • ZestMoney 

  • Amazon Pay Later

  • Paytm Postpaid

  • Flexmoney

  • OlaMoney Postpaid

  • axio, formerly Capital Float

  • EPayLater

As the Buy Now Pay Later industry continues to grow in popularity, more players are likely to enter the field in the near future. 

The Future of Buy Now Pay Later 

Despite being just a few years old, Buy Now Pay Later payment solutions have managed to become very popular. This novel concept has found a lot of takers in the form of millennials and the younger generation since it allows them to purchase their favourite products and pay their bills with just a few clicks on their smartphone. 


Most of the service providers operating under BNPL have also started to allow consumers to repay their dues through No Cost EMIs, which is one of the most popular payment options in India. 


That said, although the Buy Now Pay Later concept seems like it is something very new, it is simply another form of a loan that has to be repaid on time. Failing to do so can lead to hefty interests, late payment fees and a negative impact on the consumer’s credit score. 


As long as consumers are aware of the pitfalls and dangers of not making repayments on time and use the BNPL facility judiciously and responsibly, the future of this payment solution looks very bright. 

FAQs on Buy Now, Pay Later

  • ✔️Is ‘Buy Now, Pay Later’ a good idea?

    Yes, buy now, pay later is a good idea if you diligently repay the borrowed money as agreed. Consequently, you get to manage your finances while purchasing essentials. It can even help in building and improving your existing credit score.

  • ✔️How can I avail BNPL in India?

    To enjoy BNPL services in India, you can shop on Bajaj MARKETS and select the Buy Now, Pay Later option at the checkout.

  • ✔️What credit score is needed for Buy now, Pay later?

    Companies offering BNPL services do not initiate a hard credit check to grant approval to avail the buy now pay later services. However, it is always good to maintain a good credit score.

  • ✔️Why BNPL is growing?

    The two main factors why BNPL is growing are:

    • No-Cost EMIs and the non-requirement of prior credit history.

    • *0% interest/no cost applicable only on the Pay-in-3 option/select offerings

  • ✔️Will BNPL replace Credit Card?

    Not necessarily. However, BNPL is set to become the preferred choice of payment in Indian households.

  • ✔️What are the reasons to opt for Buy Now Pay Later?

    There are many reasons why you should opt for Buy Now Pay Later payment solutions. Here’s a quick look at a few of the benefits that you get to enjoy. 


    • You can pay your bills and shop for all your favourite products instantly.

    • You don’t have to pay any processing fees for utilising the payment solution. 

    • As long as you pay your bills on time, you don’t have to pay any interest on the amount that you spend. 

    • You will only have to repay the amount that you used up once every month. 

    • Buy Now Pay Later is secure and encrypted.