Indian Railways: Big news! Book your confirmed train tickets for free now! You will get many more benefits, know how?

Indian Railways: Now you can book and travel train tickets for free. Not only this, you will get many more facilities in it. Let us know in detail.

Indian Railways News: There is news of work for railway passengers. Now you can travel by train for free also. Now you are getting a great facility, under which if you do not have money in your pocket or your salary has not come and you are planning to go somewhere, then now you do not need to panic. Now you can easily book tickets and do shopping even with empty pockets.

Actually, Buy Now Pay Later is growing very fast in India. You can also book train tickets from this. Let us know that ‘Buy Now Pay Later’.

What is Buy Now Pay Later?

Actually, under ‘Buy Now Pay Later’, companies give you a loan for shopping. This option is especially beneficial for those people who do not have a credit card and have to buy something suddenly. You can also book tickets from this. Let us know what is its payment method.

Features of ‘Buy Now Pay Later’

1. You can shop even if you don’t have money.
2. The ‘Buy Now Pay Later’ option is better for purchases on e-commerce companies.
3. This is a short term loan.
4. Credit card option gives cheaper loan than credit card.
5. A small down payment of the total purchase amount has to be paid.
6. In the short term, there is no charge in this, interest is to be paid only after a due date.
7. BPNL is low cost and more convenient.
8. In this you can pay in lump sum or EMI
9. Payment can be made in the next 14 to 20 days from the date of purchase.
10. Interest up to 24% will be payable if the payment is not made on time.
11. In the option of EMI, there is no burden on the customer on paying interest of the merchant.
12. E-commerce companies have tied up with fintech companies.

‘Buy Now Pay Later’ is a better option

Banks, more than 20 fintech companies are providing this facility.
By 2025, the BNPL market will be of 7.41 lakh crores.
Market share in e-commerce will increase from 3% to 9% by 2024.
This option will also be popular on food, travel, grocery and other platforms.
Buy Now Pay Later is a better option as an alternative to a credit card.

Know interest related details

                                        Credit card                                           BNPL

No Interest Tenure              45 Days                                       15-20 Days
Interest on Late Payment    40-48%                                          20-30%
Limit                                 No Limit                                2 thousand to 1 lakh Maximum
Issue Process               Credit Score, Income Proof          Credit Score, Income Proof Not                                                                                                                       Required
Acceptance                    Acceptable everywhere         Selective acceptable only on contract