In the times of Covid-19 pandemic, when cash-strapped parents are finding it difficult to pay the school fees of their wards, a Pune-based start-up has come up what it claims to be first-of-its-kind concept that promises to ease the travails of residents.
“We have launched Creditkart Fincom, the e-commerce platform. Besides allowing users to purchase gold ornaments, we are offering utility services like paying school fees, electricity bills or civic taxes without levying any interest,” said Swapnil Madiyar, founder and director of Mudrakwik Fintech, Pune, which has launched CreditKart Fincom.
Madiyar said in these Covid-19 times, when parents have lost their jobs or have taken big salary cuts, they can pay their schools fees by downloading their apps. “They can pay schools fees of their child through our apps. Unlike credit cards that charge them huge interest, we levy no interest, down payment or any processing fees,” he said.
They will have to return the credit amount within a month without any interest. “In case they do not do so, we will follow up with them. They can return the amount in two or three months… we will not charge them any interest. But until they return the full amount, they will not be able to make use of more funds. They will be allowed to use the amount as per their credit limit,” Madiyar said.
“Not just schools fees and electricity bills, the users will be able to pay civic taxes, Mutual Funds, DTH bills, Fastag as well,” he added.
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