What is the Difference Between BNPL Vs Personal Loan Vs Credit Card?
INTRODUCTION It can get confusing when choosing between financial services like BNPL, instant personal loan and Credit Card. To get things sorted we narrowed down the comparison between. WHAT IS BNPL? Buy now pay later (BNPL) is an option for payment in which you can purchase without having to pay immediately. It is a purchase done without spending it from your pocket. It is a service provided by a company that allows you to make the payment without you paying it at the current moment. Nonetheless, the lending company or the lender pays on your behalf, and later you will have to pay the whole amount at a time or you can also pay it in the no-cost EMI (Equated Monthly Installments). If you don't pay the amount within the given tenure, then the lending company will be responsible for charging you interest. Note- If you further delay your payment, it will affect your credit score. So, make sure you pay the amount on the due date. Advantages - - Make the goods