UPI Now, Pay Later facility introduced

[Raviteja]

HDFC launched the UPI Overdraft/Pay Later option.


The credit limit will be valid for 6 months and the maximum limit is 50,000.rs. There is a charge of 199+GST for the application and the same amount will be charged to renew the credit line every 6 months.

The interest rate is 16% PA. You will be charged only for the amount you have withdrawn and the number of days you use it.

Currently, this feature is only available to HDFC account holders.

https://www.hdfcbank.com/personal/borrow/popular-loans/paylater-on-upi

 

[Mr.Bhat]

UPI now, pay later: HDFC Bank and ICICI Bank start credit on UPI
Both banks have kept a maximum credit line of Rs 50,000 based on the account holders' eligibility.


https://www.business-standard.com/a...-bank-start-credit-on-upi-123091400197_1.html

 

[Endgame]

It's not beneficial as interests and PF are being charged. Better to use Rupay credit cards on UPI.
Currently I've BoB HPCL, HDFC (Tata Neu Infinity) and ICICI Coral Rupay cards, all work flawlessly in merchant UPI 'Scan & Pay'.