What happens if I don’t pay Lazypay bill and does it affect the CIBIL score is an issue among a lot of people in the Lazypay Buy Now Pay Later service in India. Before we look into the solution and find out ways to avoid paying the late payment fee, let’s find out more about how Lazypay has become such a popular BNPL service provider in the country.
Lazypay Pay Later debuted in India in 2017, making it one of the earliest buy now, pay later services in the Indian market. Lazypay Pay Later service allows customers to make purchases online and choose to pay for them later, which is ideal for customers who don’t want to buy items immediately and pay upfront costs. Users can pay the amount after the bill is generated from the Lazypay app.
This new service has become popular for a variety of reasons since it allows people to buy things online without having to pay for them immediately. In recent times, the concept of ‘Buy now, Pay later’ has been gaining popularity in the retail sector, and this is because of the growing number of consumers who choose to spend through this method.
What is a Lazypay Bill?
The Lazypay Bill helps customers with their monthly bills for any utility along with other bills they made through the Lazypay app. Your monthly spending data also appears in the bill, allowing you to identify areas where you might be spending unnecessarily and save money.
What Happens If I Don’t Pay Lazypay Bill?
If the payment isn’t made in time, Lazypay will charge a late fee of up to Rs. 500 for users with 15-day Cycle Rs. 2000 for users with 30-day cycle and along with applicable taxes (GST). Lazypay will not collect the late fee if the user informs them about any difficulties they might face during your payment. They might even refund the charges if it has been deducted incorrectly.
LazyPay will also notify the clients about the pending charges or late fees from time to time via communication channels such as email, SMS and app notification before deducting any late fees.
Check Out Lazypay Customer Care Number And Email ID For Quick Enquiry
Does Lazypay Late Payment affect my CIBIL Score?
The Lazypay Late Payment will affect in CIBIL or Experian score if you have submitted your PAN Card during the registration process; otherwise, it won’t affect you. But if you have signed up for Lazycard, the Late Payment will indeed affect the CIBIL or Experian score.
Conclusion: How to prevent oft-forgotten bills and keep track of your finances
The most commonly recommended way to monitor Lazypay bills is to download and install the Lazypay application on your Android or IOS smartphone. Check the billing cycle and pay the amount within the grace period. If you need a reminder, Lazypay will send emails, text messages, and app notifications. Make sure you understand the billing cycle of Lazypay before using this service to make payments on an ever-growing number of supported retailer apps, websites, and services.
Also Read: What Happens If I Don’t Pay Simpl Bill? Find Out If It Affects Your Cibil Score!
Also Read: Buy Now Pay Later (BNPL) in India – The Ultimate Guide
Also Read: How To Close Lazypay Account Quickly? New Method 2022
