Travelling is fun when you have enough cash in your pocket. You might not have the money in hand at the moment to pay for your travel expenses but your travelling might be essential. Many times, it happens that you have to book your flight tickets and accommodation, but you are short of funds. To deal with such situations, you can take travel loans for meeting such requirements and satisfy your urgent travel desires. You can obtain travel loans with low monthly interest rates and repay the loan in monthly EMIs.
TripMoney is a fintech arm of MakeMyTrip providing products and services for travel such as travel loans, travel insurance, and global cash cards. With TripMoney, you can make your travel easy and hassle-free.
What is Pay Later by TripMoney?
TripMoney offers you the option of making bookings instantly and paying later. Only MakeMyTrip customers can avail of this benefit and pay Rs. 0 while booking flights and hotels. The due amount can be paid later. It is a solution to obtain a Pay Later facility across Pay Later Partners that includes one time Pay Later payments along with cardless EMI options on particular banks. You need to have enough credit limit with a Pay Later partner linked to your mobile number. Having credit limits with multiple Pay Later partners allows you to choose from the available ones and make your booking.
You can check your eligibility for availing of the offer by selecting the amount you want to pay.
Why should you use Pay Later?
You can experience numerous benefits when you use Pay Later by MakeMyTrip.
- You can have zero per cent interest for non-EMI plans. It can be accrued through partners that provide non-EMI plans.
- You can choose from multiple credit periods. You are eligible to pay back the amount within the time chosen. You have the flexibility to choose the repayment tenure and can repay within days or months.
- You do not require any KYC, and you can check your eligibility through your mobile number only.
- You can pay through the OTP and finish your booking.
How can you apply for the Pay Later option?
You can apply for the Pay Later option in three simple steps:
- Select Pay Later – After you have selected the booking option, you will be directed to the payments page on the MakeMyTrip application or webpage, and you can select the Pay Later option and check your eligibility.
- Enter OTP – After passing the eligibility check, you can select the later partner and enter the one time password you receive on your mobile phone.
- Booking Complete – Your booking is complete, and you are ready to explore your desired place. You can pay the due amount on the billing date sent to you on your mobile number.
Terms and Conditions of MMT Pay Later
- MMT Pay Later option is available only on certain services and products of MakeMyTrip, and it is upon MMT to decide the products and services on which the Pay Later option will be available. The decision taken by MMT will be the final one in this regard and will apply to all the parties.
- You can view your outstanding amount on the website or application of the Pay Later partner. You can also view the due date of the payment. The Pay Later partner will also notify you through emails, SMS and WhatsApp to pay the outstanding amount on the due date.
- You need to repay your due amount on the selected date. Failure to repay the money will result in late repayment penalties. In worst cases, it might lead to a suspension of your account with the Pay Later partner.
You can book your hotels and accommodations by obtaining a travel loan. TripMoney allows you to take travel loans with minimum documentation. You can take loans at affordable rates of interest and repay the amount in monthly EMIs within a flexible period. Travel loans are unsecured loans, and you do not have to pledge any of your assets for obtaining the loan. Neither do you need to pay any amount for taking the loan?
Travel Loan Features from TripMoney
- You do not need to make any down payments. Also, there is no need for collaterals or even sometimes a guarantor.
- You can avail of the loan after passing the eligibility criteria. It is very simple, and you only need to submit your PAN card, Aadhar card and Birth Certificate. Your CIBIL score might also be checked, and after the digital verification, your loan amount will be approved instantly.
- You can apply for the loan by filling up your personal details correctly and getting the approved limit. Complete your KYC and finish filling up the loan application.
- You can take a loan for a minimum of Rs. 4500, and the maximum amount is Rs. 1 lac. The repayment tenure remains flexible, and you can repay the amount whenever you like. But the maximum time permitted to repay the loan is 1 year.
- You need to pay your monthly EMIs on time, or else your credit limit will suffer. You can link your bank account with the TripMoney account so that the monthly EMIs get deducted on the due date.
- The monthly interest charged is 1.7 per cent. You do not need to pay any interest if you have not taken any loan.
- You can get a lifetime validity by maintaining good repayment behaviour.
Now you do not need to stress out if you cannot provide for your travel expenses immediately. TripMoney brings you numerous options which you can avail of. You can either take a travel loan or use the Pay Later option for making your urgent bookings and then pay later when you have the money. Thus, you can enjoy your travels worry-free. If you repay the amounts borrowed in due time, your credit score will improve, and you will be eligible for borrowing more.