About Us

What is InstaCred?

InstaCred is a platform that enables you to activate, utilize and manage a digital credit line on behalf of the Bank, thereby enabling payment for all transactions with Merchants.

What is InstaCred EMI?

Ever wished you could buy something expensive and pay for it in installments? That is exactly what InstaCred EMI is - it allows you to avail an online credit line that enables you to convert your favorite products and services into an equated monthly installment (EMI) at low interest rates within a tenure decided by you. Eg - You want to purchase a cell phone or pay for insurance that costs INR 50,000 - spilt the amount into a 3/6/9/12 month payment period, whichever you are comfortable with, at a low interest rate using InstaCred EMI payment option. This allows you to pay for the specific product or service over a period of time.

How does it work?

Once you are a pre-approved user with our partner bank , you can visit any of our merchant partners website or app and find a payment option with 'Pay with InstaCred EMI'. Simply select that payment option, insert your PIN number and checkout. It is that simple.

Who is giving me this credit line?

We aim to work with reputed banks and NBFCs' that can underwrite your credit. Currently the credit line is being provided to you by Federal Bank.

Are there any processing fees associated with InstaCred EMI?

No. You do not have to pay any processing fees when you use InstaCred EMI payment service.

What is the difference between a credit card and an InstaCred credit line?

Credit cards is plastic money that come in the form of a card. InstaCred is completely digital. While credit card EMIs' require you to enter your 16 digit card number, name, expiry date and CVV no, your InstaCred EMI payment only requires you to insert your PIN number to check out. It has never been this easy to pay digitally.

What is the difference between a mobile wallet and an InstaCred credit line?

Mobile wallets are like physicals wallets but on your phone. You have to fill in money from your account to use it whereas InstaCred is a credit line or line of credit provided to you by the bank that you can use to buy products online. You have to repay the pay on the monthly basis like a car loan.

How is InstaCred EMI different from other EMI players in the market?

3 Primary Reasons - 1) Zero documentation at signup 2) No processing fee or downpayment cost 3) Very low interest rates compared to other cardless EMI competitors.

Eligibility and Sign Up

What is required to have an InstaCred account?

Flexmoney, the parent company of InstaCred, should have partnered with the bank you have an account with. The bank should pre-approve you as an InstaCred user to activate the account.

How long does it take to get an InstaCred account?

InstaCred accounts can be activated instantaneously once you are pre-approved by our partner bank. There is no paperwork or documentation requried to sign up unlike other companies.

Do I need to submit any KYC documents?

No. There is no documentation that is required to signup.

How do I change the number on my signup screen?

You cannot change this number unless you submit request to bank and they update the same in their database.

Why am I not receiving an OTP?

Kindly check your network connectivity. If that is working fine then there could be a connectivity error on our end. We request you to try again in sometime else drop us a mail at contact@flexmoney.in

Buy with InstaCred

How do I shop using my InstaCred credit line?

Once you are a pre-approved user with our partner bank , you can visit any of our merchant partners website or app and find a payment option with "Pay with InstaCred EMI". Simply select that payment option, insert your PIN number and checkout. It is that simple.

Do I need to make any downpayment?

No. There is no down payment that is required to buy a product via InstaCred.

What is the tenure of the loan?

You can select to repay in 3 months, 6 months, 9 months and 12 months.

How much interest will I be paying?

Interest rate applicable depends on the tenure that you are going to borrow for. The rates are set by our partner banks. Click here to go to our EMI calculator to help you with the breakup of the payment.

What is pre-approved credit limit?

A pre-approved credit limit is the amount of InstaCred credit that you are eligible for, based on your credit evaluation by your bank. You can go ahead and shop with our partner merchants, and buy things costing up to the pre-approved amount. For example, if your pre-approved credit limit is Rs. 25,000 you can buy any item costing less than Rs. 25,000 (but not something costing Rs. 60,000). You can make multiple smaller transactions within your pre-approved credit line.

Can I do partial payment for any purchases using InstaCred EMI and other payment options?

Sorry! We do not currently support partial payment transactions with InstaCred EMI.

Where can I use my InstaCred credit line?

Currently, we have partnered with a set of merchants. You can view the entire list here.

How will I know if the payment has been accepted by the merchant?

Everytime there is a transaction from the InstaCred account, you will receive a SMS confirming the same. In case, a message is not received, your account will be updated within a period of 2 days.

Where can I track the status of my purchase?

You can track the status of your purchase on the merchant website where you completed the purchase.

How can I get a refund for a transaction after placing an order?

InstaCred transaction once confirmed and processed cannot be cancelled.

When will my InstaCred account be updated once I have cancelled my transaction?

Your InstaCred account should be updated within 5 working days. If your account does not reflect the change within the time mentioned above then please write to us at contact@flexmoney.in

How can I return a product after I have bought it using InstaCred EMI?

You can return a product as the merchant return policy allows just like anyother product.

When will my InstaCred account be updated, if I return the purchased item after it was delivered?

If the merchant return policy allows you to return the product then your InstaCred account will be updated within 5 days from the time the merchant receives the product.

Repayment

How do i repay the InstaCred EMI?

You must ensure that you have the EMI amount payable in your bank account on the monthly due date which is set as 5th of every month. Your bank that has partnered with us will debit your account via Automatic Recovery on the monthly due date.

What is the process to pre-close the EMI?

Customer can make early repayment of outstanding EMI with no penalty. You can contact the bank for pre-closure.

Is there a convinence fees charged on a transaction?

Currently there is no convenience fee for InstaCred EMI payment option.

What is the late repayment fee?

The late repayment fee is fixed by your bank that is giving you this digital credit line. You shall be liable to pay additional/penal interest of 2% per annum on the monthly rests, over and above the applicable interest rate.

Can I increase tenure of loan after it has been approved?

Sorry! The loan tenure cannot be extended once the loan has been approved.

Can I change my repayment cycle date?

Sorry! You cannot change your repayment cycle date. Our partner bank has set the date as 5th of every month as repayment date for installments via InstaCred EMI.

What if I do not pay the EMI on a product that I have purchased?

Well, that is not a pleasant situation. Like any loan you take, the InstaCred EMI is legally binding as per RBI regulations and not paying it is a criminal offence in the Indian court of law. Once you default on the loan, your personal information is sent to all credit bureaus and banks in India who will subsequently drop your credit score (or CIBIL score). It will become really hard for you to take a bigger loan from any Indian bank in the future as they will see that you have defaulted on your loan.

What if my account with the partner bank does not have enough balance at the monthly due date?

Again, this is an unpleasant situation that we would request you to avoid. The required amount must be maintained in the account on the due date. Incase, it is not, it will be a default and bounce of payment, which is a criminal offense in India. Also, a late repayment fee will be charged when you pay back and the overal impact of this will affect your CIBIL score. Your bank that is providing you with this digital credit line can also cancel your account with us incase you do not have enough money in your account.

Can I skip a monthly EMI payment and pay the cumulative amount of two months in the following month?

We strongly advise you against it. Missing one month's EMI payment will not only attract a penalty charge but also reduce your credit score that is maintained by CIBIL. Your bank that is providing you with this digital credit line can also cancel your account with us incase you miss your monthly repayment.

Account

Where can I track all my InstaCred purchases?

You can find the sign in option on the homepage of the InstaCred website. You can click here to go to the sign in page.

How do I reset my PIN number?

You can login to your InstaCred account and change your PIN via the settings tab. You can click here to be taken there.

Can I change my contact details for monthly reminders?

You can change your email ID to receive InstaCred notifications another ID but cannot change your name or mobile number. Kindly click here to log in to the dashboard and select the option from the menu tab

How do I close my InstaCred account?

You can close your InstaCred account by contacting the bank directly.

What is InstaCred's Privacy Policy?

You can read about our Privacy Policy here.

What is InstaCred's Terms of Service?

You can read about our Terms of Service here.

Where can I address any concern I have with InstaCred EMI?

You can write to us at contact@flexmoney.in

Buy with Amazon

To know more about how to user your InstaCred Credit limit to shop on Amazon, click here

Buy with Flipkart

To know more about how to user your InstaCred Credit limit to shop on Flipkart, click here

About Us

What is InstaCred?

InstaCred is a platform that enables you to activate, utilize and manage a digital credit line on behalf of the Bank, thereby enabling payment for all transactions with Merchants.

What is InstaCred EMI?

Ever wished you could buy something expensive and pay for it in installments? That is exactly what InstaCred EMI is - it allows you to avail an online credit line that enables you to convert your favorite products and services into an equated monthly installment (EMI) at low interest rates within a tenure decided by you. Eg - You want to purchase a cell phone or pay for insurance that costs INR 50,000 - spilt the amount into a 3/6/9/12 month payment period, whichever you are comfortable with, at a low interest rate using InstaCred EMI payment option. This allows you to pay for the specific product or service over a period of time.

How does it work?

Once you are a pre-approved user with our partner bank , you can visit any of our merchant partners website or app and find a payment option with 'Pay with InstaCred EMI'. Simply select that payment option, insert your PIN number and checkout. It is that simple.

Who is giving me this credit line?

We aim to work with reputed banks and NBFCs' that can underwrite your credit. Currently the credit line is being provided to you by Federal Bank.

Are there any processing fees associated with InstaCred EMI?

No. You do not have to pay any processing fees when you use InstaCred EMI payment service.

What is the difference between a credit card EMI and an InstaCred EMI?

Credit cards is plastic money that come in the form of a card. InstaCred is completely digital. While credit card EMIs' require you to enter your 16 digit card number, name, expiry date and CVV no, your InstaCred EMI payment only requires you to insert your PIN number to check out. It has never been this easy to pay digitally.

What is the difference between a mobile wallet and an InstaCred credit line?

Mobile wallets are like physicals wallets but on your phone. You have to fill in money from your account to use it whereas InstaCred is a credit line or line of credit provided to you by the bank that you can use to buy products online. You have to repay the pay on the monthly basis like a car loan.

How is InstaCred EMI different from other EMI players in the market?

3 Primary Reasons - 1) Zero documentation at signup 2) No processing fee or downpayment cost 3) Very low interest rates compared to other cardless EMI competitors.

Eligibility and Sign Up

What is required to have an InstaCred account?

Flexmoney, the parent company of InstaCred, should have partnered with the bank you have an account with. The bank should pre-approve you as an InstaCred user to activate the account.

How long does it take to get an InstaCred account?

InstaCred accounts can be activated instantaneously once you are pre-approved by our partner bank. There is no paperwork or documentation requried to sign up unlike other companies.

Do I need to submit any KYC documents?

No. There is no documentation that is required to signup.

How do I change the number on my signup screen?

You cannot change this number unless you submit request to bank and they update the same in their database.

Why am I not receiving an OTP?

Buy with InstaCred

What is pre-approved credit limit?

A pre-approved credit limit is the amount of InstaCred credit that you are eligible for, based on your credit evaluation by your bank. You can go ahead and shop with our partner merchants, and buy things costing up to the pre-approved amount. For example, if your pre-approved credit limit is Rs. 25,000 you can buy any item costing less than Rs. 25,000 (but not something costing Rs. 60,000). You can make multiple smaller transactions within your pre-approved credit line.

Can I do partial payment for any purchases using InstaCred EMI and other payment options?

Sorry! We do not currently support partial payment transactions with InstaCred EMI.

Where can I use my InstaCred credit line?

Currently, we have partnered with a set of merchants. You can view the entire list here.

How do I shop using my InstaCred credit line?

Once you are a pre-approved user with our partner bank , you can visit any of our merchant partners website or app and find a payment option with "Pay with InstaCred EMI". Simply select that payment option, insert your PIN number and checkout. It is that simple.

Do I need to make any downpayment?

No. There is no down payment that is required to buy a product via InstaCred.

What is the tenure of the loan?

You can select to repay in 3 months, 6 months, 9 months and 12 months.

How much interest will I be paying?

Interest rate applicable depends on the tenure that you are going to borrow for. The rates are set by our partner banks. Click here to go to our EMI calculator to help you with the breakup of the payment.

How will I know if the payment has been accepted by the merchant?

Everytime there is a transaction from the InstaCred account, you will receive a SMS confirming the same. In case, a message is not received, your account will be updated within a period of 2 days.

Where can I track the status of my purchase?

You can track the status of your purchase on the merchant website where you completed the purchase.

How can I get a refund for a transaction after placing an order?

Cancellations / refunds are subject to the merchant’s cancellation policy. Please contact the merchant directly if you would like to cancel or get a refund on the transaction done through InstaCred EMI.

When will my InstaCred account be updated once I have cancelled my transaction?

Your InstaCred account should be updated within 5 working days. If your account does not reflect the change within the time mentioned above then please write to us at contact@flexmoney.in

How can I return a product after I have bought it using InstaCred EMI?

You can return a product as per the return policy of the merchant. Kindly contact the merchant directly for refund / cancellation grievances.

When will my InstaCred account be updated, if I return the purchased item after it was delivered?

If the merchant return policy allows you to return the product then your InstaCred account will be updated within 5 days from the time the merchant receives the product.

Repayment

How do I re-pay InstaCred?

You can repay for your EMI through Automatic Recovery from the transaction account maintained with our partner bank who has pre-approved your loan.

What is the process to pre-close the EMI?

Customer can make early repayment of outstanding EMI with no penalty. You can contact the bank for pre-closure.

Is there a convinence fees charged on a transaction?

Currently there is no convenience fee for InstaCred EMI payment option.

What is the late repayment fee?

Can I increase tenure of loan after it has been approved?

Sorry! The loan tenure cannot be extended once the loan has been approved.

Can I change my repayment cycle date?

Sorry! You cannot change your repayment cycle date. Our partner bank has set the date as 5th of every month as repayment date for installments via InstaCred EMI

What if I do not pay the EMI on a product that I have purchased?

Well, that is not a pleasant situation. Like any loan you take, the InstaCred EMI is legally binding as per RBI regulations and not paying it is a criminal offence in the Indian court of law. Once you default on the loan, your personal information is sent to all credit bureaus and banks in India who will subsequently drop your credit score (or CIBIL score). It will become really hard for you to take a bigger loan from any Indian bank in the future as they will see that you have defaulted on your loan.

What if my account with the partner bank does not have enough balance at the monthly due date?

Again, this is an unpleasant situation that we would request you to avoid. The required amount must be maintained in the account on the due date. Incase, it is not, it will be a default and bounce of payment, which is a criminal offense in India. Also, a late repayment fee will be charged when you pay back and the overal impact of this will affect your CIBIL score. Your bank that is providing you with this digital credit line can also cancel your account with us incase you do not have enough money in your account.

Can I skip a monthly EMI payment and pay the cumulative amount of two months in the following month?

We strongly advise you against it. Missing one month's EMI payment will not only attract a penalty charge but also reduce your credit score that is maintained by CIBIL. Your bank that is providing you with this digital credit line can also cancel your account with us incase you miss your monthly repayment

Account

Where can I track all my InstaCred purchases?

You can login to your InstaCred account and change your PIN via the settings tab in the dashboard menu. You can click here to be redirect to the Dashboard Page

How do I reset my PIN number?

You can login to your InstaCred account and change your PIN via the settings tab. You can click here to be taken there.

Can I change my contact details for monthly reminders?

You can change your email ID to receive InstaCred notifications another ID but cannot change your name or mobile number. Kindly click here to log in to the dashboard and select the option from the menu tab.

How do I close my InstaCred account?

You can close your InstaCred account by contacting the bank directly.

What is InstaCred's Privacy Policy?

You can read about our Privacy Policy here.

What is InstaCred's Terms of Service?

You can read about our Terms of Service here.

Where can I address any concern I have with InstaCred EMI?

You can write to us at contact@flexmoney.in