how to close flipkart pay later: Flipkart Pay Later provides convenient credit to make purchases online and pay for them later in interest-free installments. However, you may wish to close your Pay Later account if you no longer need the credit facility or want to be eligible again in future.
- 1 how to close flipkart pay later
- 2 Why Would You Want To Close Flipkart Pay Later?
- 3 Step-by-Step Process to Close Flipkart Pay Later
- 4 Flipkart Pay Later Alternatives for Shopping Online
- 5 Settlement of Flipkart Pay Later Account
- 6 Pros and Cons of Closing Flipkart Pay Later
- 7 Comparison of Top BNPL Services
- 8 FAQs About Closing Flipkart Pay Later
- 9 Get Freedom from Debt with Flipkart Pay Later Closure
how to close flipkart pay later
Closing a Flipkart Pay Later account is easy to do yourself through the app. This comprehensive guide covers the step-by-step process, settlement of outstanding amounts, alternative EMIs options, and more. Read on to learn how to successfully close your Pay Later account with Flipkart!
Why Would You Want To Close Flipkart Pay Later?
Here are some common reasons to close your Flipkart Pay Later account:
- You have repaid all outstanding dues and no longer need the credit facility.
- You want to open Pay Later again in future and eligibility rules require account closure first.
- You are facing delays in EMIs deduction or cashback processing.
- You prefer other credit facilities like credit cards for online purchases now.
- You do not want to pay late EMI fees or penalties in case of missed payments.
- You are moving abroad and want to deactivate Indian financial accounts.
Step-by-Step Process to Close Flipkart Pay Later
Follow these simple steps to close your Pay Later account yourself:
1. Repay Any Outstanding Amounts
Clear all pending EMIs, processing fees or other owed amounts before account closure. You can repay via:
- Netbanking, UPI, debit/credit card on Flipkart app
- Auto-debit from linked bank account
- Cash deposit at nearest bank branch
Ensure zero pending dues for smooth account closure.
2. Contact Customer Support
📞 Call Flipkart Pay Later customer care or 💬 chat with them within the app. Inform the executive you want to close your account. Provide necessary account details.
3. Disable Auto Pay
🚫 Disable auto pay from EMI settings if activated. This stops automatic deductions from bank account.
4. Receive and Sign Account Closure Form
📃 The executive will send a digital account closure form. Thoroughly review, enter OTP, and sign it digitally.
5. Get Account Closure Confirmation
📩 You will receive a confirmation email and SMS once your Flipkart Pay Later account is successfully closed.
And you’re done! The process is quick and convenient directly through the app.
Flipkart Pay Later Alternatives for Shopping Online
Once you close Pay Later, consider using these other payment options on Flipkart and other shopping sites:
💳 Credit Cards – Make purchases and repay monthly. Choose cards with cashbacks, rewards or interest-free periods.
💷 Debit Cards – Directly deducts amount from linked bank account. Safe with no credit risk.
🏦 Net Banking – Instantly pay via linked bank accounts. Useful for offers and rewards.
🚀 UPI – Instant transfers from bank to merchant using BHIM, Google Pay, PhonePe, PayTM and more.
🪙 Gift Cards – Redeem Flipkart gift cards to buy products. Also earn free gift cards on shopping.
✉️ COD – Pay cash on delivery when product arrives. Available on many online orders.
With these payment methods, you can continue shopping online seamlessly even after closing Flipkart Pay Later.
Settlement of Flipkart Pay Later Account
Once you apply for account closure, here is how Flipkart will settle your Pay Later facility:
- Your credit limit will be revoked and eligibility for future transactions blocked.
- No new transactions, EMI conversions, or orders will be allowed.
- Any cashback pending will be processed to your account within 3-7 working days.
- Unused EMIs will be cancelled without impacting your credit score.
- You will receive an account closure confirmation email and SMS from Flipkart.
- Your credit history and transactions will reflect for ongoing financial record keeping.
Settlement occurs quickly after account closure application and outstanding amounts are cleared.
Pros and Cons of Closing Flipkart Pay Later
Here are some key advantages and disadvantages of closing your Pay Later account:
Pros
- Avoid late fees or penalties if unable to make timely EMI payments
- Eligibility to reopen Pay Later after 6 months of account closure
- More control over your spending and credit access
- Link payments directly to bank/card instead of credit line
Cons
- Lose revolving credit facility for online shopping
- Need alternative payment method – debit/credit card, UPI etc.
- Pending cashbacks and offers will be void
- Account closure reflected on your credit history
Evaluate these factors before deciding to close Flipkart Pay Later.
Comparison of Top BNPL Services
Here is how Flipkart Pay Later compares to other top Buy Now, Pay Later platforms in India:
| Flipkart Pay Later | Amazon Pay Later | Slice Card | LazyPay | |
|---|---|---|---|---|
| Interest on EMIs | 0% | 0% | 1-2% per month | 0% |
| Credit limit | ₹25k to ₹1 Lakh | ₹20k to ₹1 Lakh | ₹50k to ₹10 Lakh | ₹50k to ₹5 Lakh |
| Platforms supported | Flipkart only | Amazon only | Cross-platform | Cross-platform |
| Early repayment fee | Nil | Nil | Nil | ₹100 flat |
| Late EMI payment fee | ₹100-500 | ₹100-200 | Nil | ₹100-200 |
FAQs About Closing Flipkart Pay Later
Q. Will closing Pay Later impact my CIBIL score?
No, simply closing your account will not affect your CIBIL score. Just repay all dues fully before account closure.
Q. Can I reapply for Flipkart Pay Later in future?
Yes, you can reapply after 6 months of account closure. Your credit limit will be reset as per latest eligibility.
Q. Is there a charge to close Flipkart Pay Later?
No, there are no charges or fees to submit account closure request for Pay Later.
Q. How can I track closure request status?
You can contact customer support for latest status by calling or chatting within Flipkart app.
Q. What happens if EMI repayment is still pending?
Clear all EMIs before applying for closure. Pending dues will lead to rejection of your account closure request.
Get Freedom from Debt with Flipkart Pay Later Closure
Flipkart Pay Later account closure is quick and convenient directly on the app. Repay all dues, disable auto-pay, submit the closure form, and receive confirmation once done. Evaluate other shopping credit options that suit your needs. With these simple steps, you can close your Pay Later account while maintaining healthy credit habits.
