ZestMoney Pay Later is a buy now, pay later service that allows users to make purchases online and pay for them in installments.
To provide you with an authentic review, I decided to apply for a ZestMoney loan myself. Upon applying, my application status shows approval for a credit limit of 53,765 rupees. Let’s delve deeper into my experience with the application process and my thoughts on ZestMoney Pay Later.
ZestMoney Pay Later Eligibility Criteria:
To be eligible, you need to be at least 18 years old and no older than 65 years. You must be a resident of India and possess a bank account, PAN card, and Aadhaar card.
Upon providing your PAN details, your CIBIL score will be assessed to determine the approved limit.
Applying for ZestMoney Pay Later
The application process for ZestMoney Pay Later is straightforward. Users can apply online through the ZestMoney website. The application typically requires basic personal and financial information for verification purposes.
ZestMoney Pay Later Fees and Interest Rates
There is a lack of clarity regarding the charges as they have not provided a fee structure. When you engage in shopping, you can check for information regarding interest rates and fees.
Partner Website for Pay Later Option
ZestMoney has tied up with many e-commerce websites which offer services ranging from fashion to electronics, mobiles, luxury goods, healthcare and even furniture.
Here is the list of the leading websites that are associated with ZestMoney:
- Decathlon
- MakeMyTrip
- MI
- Paytm
- Flipkart
- Uber
- BookMyShow
- Curefit
- Jabong
- Myntra
- Pepperfry
- Simplilearn
- Fossil
- Kurl On
- Royal Sundaram General Insurance
My View – Why I don’t like ZestMoney
Applying for this app is simple and straightforward. However, one limitation is that you are unable to take screenshots from your mobile device. It’s natural to question why this restriction exists and whether it reflects any ill intentions. Personally, I encountered this issue when applying for a limit from Zestmoney.
They disallowed screenshots during the application process, which made me hesitant to conduct business with them. Despite offering a good limit, their behavior did not sit well with me, leading me to conclude that it’s not a suitable company for future transactions.
There seems to be a lack of clarity regarding the EMI interest rates when making a purchase and paying the bill. It’s not ideal for me to only find out about the interest details at the time of making the payment.
Companies like Amazon and Flipkart, on the other hand, provide clear information about the interest charged by credit cards for selected products, as well as the interest rates and EMI details for the “pay later” option.
This level of transparency is crucial for me to trust them. While they do offer loans, it’s important for me to know and understand the interest I will be paying against that loan.
