EMI Payment provides an option to the merchant's customers for making total payments in easy equal monthly installments at the applicable interest rates from the list of partner banks. This payment option helps merchants to encourage their users to make big-value purchases without worrying about paying the full amount upfront. Users pay the principal amount and interest in monthly equal installments.
- Product Price: Rs 50,000
- EMI Plan: Interest rate -13% p.a., tenure -12 months
- EMI: Rs. 4466
- Total Paid: Rs 53,592 (Principal amount - Rs 50,000 & Interest - Rs. 3592)
Note: Standard EMI solution by Paytm is offered for both credit card and debit card transactions on all checkout flows supported by Paytm