Planning to get a 0% installment plan for your next big-item purchase? If your answer is yes, you might just be wondering which is the best 0% installment plan to avail. So let BillEase help you wade through the sea of installment plan options and pick out the best deal for your need.
Now that we’ve tackled what 0% installment plans are and the important considerations you should probably dwell on before availing one, it’s high-time we discuss how you can find the best installment plan for you and your needs.
So what should you look for when going through your options? Here are a few ways you can spot the best 0% installment plan for you:
HOW’S THEIR APPLICATION PROCESS?
The point of availing a 0% installment plan is to get your next purchase in a convenient and hassle-free way. Therefore, it only makes sense that your application should also be convenient and hassle-free, right?
So when looking for the best 0% installment plan for you, look up their application process. Take note of the documents and other requirements they will be needing from you. If the requirements prove to be too much to handle, feel free to walk away and explore other options.
Read: Applying for Installment Plan? A Rundown of the Documents You’ll Need
It will also help if you can find out how long their verification process takes so you can brace yourself and manage your expectations.
COLLATERAL OR NO COLLATERAL?
Some credit companies require an initial deposit of a fixed amount before approving their clients’ installment plans. This deposit acts as an insurance or collateral for credit companies. While some people are happy enough to give an initial deposit, this may not be the case for the majority.
If handing over collateral is not possible with your current financial situation, no need to worry! There are still plenty of credit companies out there willing to help you get your purchase via an installment plan. In fact, we daresay that some of the best 0% installment plan are those without collateral!
WHAT ARE THE AVAILABLE MODES OF PAYMENT?
Before you take the plunge on any form of loan or installment plan, it is best to take a quick survey of your payment options – are they convenient? Safe? Are they aligned with your payday schedule? Are they flexible?
In our opinion, the best 0% installment plan will give you convenient modes of payment that fit snugly on your payday schedule. A great installment plan will also give you diverse payment options (preferably a combination of online and bank methods) so if one method suddenly becomes unavailable, you still have other options to choose from.
IS THE LENDING COMPANY LEGITIMATE?
Not to dampen your spirits, but the ease and convenience of getting a 0% installment plan from online companies are sometimes curbed by how easy it is to be fooled by fake lending companies that are out to scam you for your money.
But don’t worry! There are a lot of great ways you can protect yourself from these online scammers. We’ve talked about how you can differentiate a legitimate lending company from a scammer here. We also discussed the top three warning signs of online loan scams over here.
In summary, the best 0% installment plan for you is one that is safe, convenient, and hassle-free from application to payment – just like BillEase! You can complete and submit your application in three easy steps and receive your account verification in just one banking day!
And the best part? No need for a credit card!
Want to learn more about how you can avail this exciting 0% installment plan? You can check this post over here where we discuss the step-by-step application process of BillEase. We also answer your frequently asked questions here!