HDFC FlexiPay Review, Features and Eligibility

HDFC bank has a legacy of providing best financial services to its customer. This time HDFC bank has brought HDFC FlexiPay a Buy Now, Pay Later kind of service.

In this article I will explain all the dimensions related to HDFC FlexiPay. I may be the right person to explain you its pros and cons because I have been using this service for more than 2 months.

if you are checking out for any specific section or information, you can directly jump to that section by using a table of contents.

Overview

From the slogan it is very clear what HDFC FlexiPay service is going to offer. It is basically a digital credit service which offers credit from 15 – 90 days.

HDFC bank has listed this service under personal loan category, which from my point of view is a right place for this kind of service.

HDFC flexi pay is not different from Flipkart pay later, Paytm postpaid and Amazon pay later.

PROS

instant credit from up to Rs. 60,000
15 days interest free credit
Zero fees

CONS

Only 15 days interest free credit
Its Pre approved offer only

Getting started with HDFC FlexiPay

I got a pre-approval message from HDFC Bank about 2 months ago. My account was approved for a limit of Rs.10,000 rupees.

The limit may vary account to account from Rs. 2,000 to Rs. 60000. Here I am putting down a screenshot of my HDFC Flexipay approval massage.

Features of HDFC FlexiPay

HDFC FlexiPay – Buy Now, Pay Later offers a ton of benefits to its users to meet their daily needs.

Interest Free

It is one the best features of HDFC FelxiPay service because it offers 15 days interest free period. Users will not have to pay even a single penny as interest for using this service for 15 days.

Zero charges

If you are using HDFC FlexiPay you will not be charged with convenience fees, processing fees and any other hidden charges.

Credit of up Rs. 60,000

you can use HDFC FlexiPay as extra cash in your wallet. You will get anytime anywhere Credit from Rs. 2,000 to Rs. 60,000. You can avail your extra money 24*7.

Flexible Repayment

The flexibility of repayment is purely in the hands of the customer. The repayment period can vary from 15 to 90 days as per your need.

For 15 days you will not be charged with any interest but for more interest fee will be charged.

Note : For interest charges checkout interest rate section.

Eligibility

This service is available for only pre-approved current and saving account holders of HDFC Bank. If you are eligible you will get notification in your offer section of HDFC Bank netbanking.

Fees and Charges

Rate of Interest

There are four tenures with the respective applicable EMI interest rates on any transaction made through the FlexiPay option:

Tenure	Interest rate
15 days	No Extra Cost
30 days	Rs.70 per month on purchase of Rs.3000
60 days	Rs.70 per month on purchase of Rs.3000
90 days	Rs.70 per month on purchase of Rs.3000

Auto Debit Return Penalty

if you have opted for auto debit service and you account doesn’t have sufficient balance at the time of making payment.

You will be charged with 2% interest rate plus GST of 18%. The minimum penalty of Rs. 450 will be levied and remember it is minimum.

Late Payment Fees

If you fail to make payment or make partial repayment of the outstanding amount, then you will be penalized. The rate of penalty will be 3% plus 18% GST on the total outstanding due.

Pre closure charges

On pre closure of FlexiPay service you will be charged with 4% on the balance principal outstanding plus 18% GST.

FlexiPay Availability

Apparel

Merchant Name	Website
Myntra	https://myntra.onelink.me/eWcy/flexipay
William Penn	www.williampenn.net
Zodiac clothing	www.zodiaconline.com

Fashion & Lifestyle

Merchant Name	Website
VLCC PERSONAL CARE LTD	http://www.vlccpersonalcare.com
LIVPURE PRIVATE LIMITED	https://livpure.com
BRAND EYES DISTRIBUTORS PRIVATE LIMITED	http://www.brandeyes.in
Skull Candy	https://www.skullcandy.in

Electronics

Merchant Name	Website
QRS Retail Ltd	www.qrs.in
Zebrs	www.zebrs.com
Poorvika Mobiles Private Limited	http://www.poorvikamobile.com
3G Mobile World	http://myg.in

Food & Grocery

Merchant Name	Website
Chitale	www.chitalebandhu.in

Furniture

Merchant Name	Website
Ikea	www.ikea.com
Nilkamal Ltd	www.nilkamalfurniture.com
Royaloak Incorporation Private Limited	http://www.royaloakworld.com

Bottom Line

HDFC flexi pay is convenient and easy to use payment service for online shopping. Its 15 days of interest free service is great.

But if you have a credit card you don’t need this kind of service. As credit cards are more easy and reward friendly services.

HDFC FlexiPay – Buy Now Pay Later FAQs

What is Eligibility for Getting HDFC FlexiPay?

This service is available for only pre-approved current and saving account holders of HDFC Bank. If you are eligible you will get notification in your offer section of HDFC Bank netbanking.

What is Maximum limit we can get from HDFC FlexiPay?

You will get anytime anywhere Credit from Rs. 2,000 to Rs. 60,000.

October 11, 2020October 12, 2020

Pradhan Mantri Jan Dhan Yojana(PMJDY), Features and Benefits

In recent days lots of talk is going on about Pradhan Mantri Jan Dhan Yojana. Pradhan Mantri Jan Dhan Yojana is in news because it has recently completed 6 years since its launch.

So, in this article I am going to discuss various features, benefits and achievement of Pradhan Mantri Jan Dhan Yojana.

What is Pradhan Mantri Jan Dhan Yojana?

Pradhan Mantri Jan Dhan Yojana(PMJDY) is a national mission based on financial inclusion by Government of India. Here, I have used a word ‘financial inclusion’ which needed to be understood before proceeding towards PMJDY.

What is financial inclusion?

According to World Bank “Financial inclusion means that individuals and businesses have access to useful and affordable financial products and services that meet their needs – transactions, payments, savings, credit and insurance – delivered in a responsible and sustainable way”.

Financial inclusion is a government’s National priority because it is driving force of inclusive growth.

The first announcement of Pradhan mantri Jan dhan Yojana was made on 15 August 2014 by Prime minister Narendra Modi.

6 Pillars of Pradhan Mantri Jan dhan Yojana

Universal access to banking services

Under this Government promises to facilitate at least 1 bank account in a family. At the time of launch government estimated that every habitation has access to banking services within 5 km with in one year.

Pension scheme for unorganised sector

Under this government promises to facilitate pension for or elderly people aged above 60 through various schemes. The government has launched ‘Pradhan mantri Vaya Vandana Yojana‘ to provide social security to elderly person aged above 60 years.

The responsibility for implementation of this scheme is given in the hands of Life insurance corporation of India(LIC). LIC will provide a fixed return of 8% per annum for 10 years.

Providing Basic Banking Accounts with overdraft facility and RuPay debit card

Government will put effort to cover all those households, which are not covered with banking facilities by August 2015. With the help of RuPay debit card provided under this scheme, facility of overdraft of Rs. 5000 will be provided.

Note : The limit of overdraft has been increased to Rs. 10000.

Micro Insurance

To provide micro – insurance to all willing and eligible persons by 14th August, 2018, and then on an ongoing basis.

Financial Literacy Program

Financial literacy is an integral part of this Mission. This scheme let the beneficiaries make best use of the financial services being made available to them.

Creation of Credit Guarantee Fund

The government will create a credit guarantee fund that will be responsible for covering the defaults by overdraft accounts.

Benefits under Pradhan Mantri Jan Dhan Yojana

One basic savings bank account is opened for unbanked person.
There is no requirement to maintain any minimum balance in PMJDY accounts.
Interest is earned on the deposit in PMJDY accounts.
Rupay Debit card is provided to PMJDY account holder.

Accident Insurance Cover of Rs.1 lakh (enhanced to Rs. 2 lakh to new PMJDY accounts opened after 28.8.2018) is available with RuPay card issued to the PMJDY account holders.
Life Insurance Cover of Rs. 30,000 to eligible PMJDY account holders who opened their account for the first time between 15.8.2014 to 31.1.2015 is available.
An overdraft (OD) facility up to Rs. 10,000 to eligible account holders is available.
PMJDY accounts are eligible for Direct Benefit Transfer (DBT), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY), Atal Pendion Yojana (APY), Micro Units Development & Refinance Agency Bank (MUDRA) scheme.
A minimum monthly remuneration of Rs 5,000 to business correspondents.
Achievements of Pradhan mantri Jan dhan Yojana
Government is celebrating 6 years of Jan dhan Yojana achievement these days, so here I have mentioned some achievement of PMJDY.
Government was successful in providing banking services to more than 40.35 crores unbanked people due to implementation of PMJDY.

It’s a great achievement for Government because banking was not accessible to low income group people and farmers.
Total money deposit under Pradhan mantri Jan dhan Yojana scheme stands at Rs. 1.31 lakhs crore which in itself a huge number.
The average account balance of all accounts under Pradhan Mantri Jan Dhan Yojana stands at Rs. 3239.

Pradhan Mantri Jan Dhan Yojana FAQs

What is pradhan mantri jan dhan yojana?

Pradhan mantri Jan dhan Yojana(PMJDY) is a national mission based on financial inclusion by Government of India.

How to open pradhan mantri jan dhan yojana bank account?

Simply visit any bank near to your home and ask for Jan dhan yojana account.

May 14, 2020June 24, 2020

SBI balance enquiry, SBI balance enquiry no

SBI has improved its balance enquiry service a lot. If you have an account in SBI, you can check your account balance in just 5 seconds. Whereas, I have seen lots of people standing in an extended Bank queue for only checking his account balance. To generate your SBI balance enquiry easy, I am writing this article.

Within this guide, I’ll discuss different approaches and methods for SBI balance enquiry. If you have a merchant account in SBI worry not, I am here together with five easiest means for the balance enquiry. In this article, I will provide you with an SBI balance enquiry number to check your account balance.

Here are the Top 5 most accessible ways for your SBI balance enquiry.

Not only, SBI balance enquiry no. I will also provide you with SBI missed call balance enquiry no.

Toll Free SBI balance enquiry no

SBI recently was included with a ten-digit number (09223766666) for balance enquiry. If you just give a miss call to the number, you’ll receive a message along with your account balance particulars.

This is the method that I think is most easy for SBI balance enquiry. As you give a miss call to this number, SBI drops a message in your inbox with your account balance detail.

SBI SMS balance enquiry

The next method for SBI balance enquiry is by simply sending a direct message to SBI. Simply go to your message box, and type “BAL” in funding letters send it to 09223766666. You will get a message along with your upgraded account balance over 1 to 5 minutes.

Send SMS “BAL” to 09223766666

SBI net banking balance enquiry

SBI account holder can also check their account balance by simply using SBI net banking. For SBI balance enquiry using net banking follow following steps:-

1. visit SBI net banking portal
2. log in with your user id and password
3. and click on the text showing click here for balance in front of your account number
4. and it will show your updated account balance.

One thing I wish to tell you that there are lots of fraud apps and sites with the exact same appearance and feel, So I suggest using only the official version of apps and web sites. This will keep your accounts safe and secure.

Check out SBI simply click Credit Card Review here.

SBI balance enquiry through mobile banking

SBI has launched many official apps that come with the feature of account balance enquiry. You can download any one of them, and you can regularly check your balance from those apps.

I am dropping below a list of SBI official apps for your balance enquiry:-

1. SBI anywhere
2. SBI Saral
3. SBI quick

SBI balance enquiry through ATM

SBI accounts holder can also utilize their ATM card to get balance enquiry. Stop by any closest SBI ATM and follow the following measures:-

- Put your ATM put a debit card into the ATM
- choose your language
- choose account balance enquiry
- then enter your four digits unique ATM snare
- you have your account balance onto the screen.

Thanks for reading this article. If you will find it helpful, share it with your close friends and loved ones. If you find some mistake or have a suggestion, drop a mail to the official mail address.

In case you have some questions concerning the balance enquiry, you could write it from the comment section below.