Control over your credit identity
Simpl uses its own machine learning models to understand customers. We don’t follow the rules of credit scores.
Transparency and Trust
No hidden fees or stacks of paperwork with terms and conditions. Everything from bills to refunds is transparent.
Affordability with Pay Later
Spend in a way that makes you comfortable. Simpl lets you spread your monthly income across your shopping needs.
Your spending limit is initially set by default. But once you start using Simpl, the limit is constantly updated based on a few major factors.
How regularly you repay: Regular and prompt repayment is the most important factor in updating your spending limit. If you’re quick and consistent in settling your dues with Simpl, your spending limit increases over time. Needless to say, consistently failing to do so will have the opposite effect.
Your spending habits: The spending limit will mirror your purchasing habits. If your spending increases steadily, the limit will go up too.
Using the Simpl app: The Simpl app lets us carry out further verifications based on data available on the phone. For example, based on your transactional SMS messages, Simpl can increase your spending limit to match your overall spending.
The strength of your profile: A strong profile allows us to verify your identity, and get to know you better. Simpl uses this information to increase your spending limit.
If a payment isn’t made by the due date, Simpl can charge a late penalty of up to Rs. 250 + applicable taxes (GST). In case a user informs us about any issue s/he is facing, we will withhold the late penalty. Or reverse it, depending on the situation.
Users are also notified multiple times via Email, SMS and other reminder notifications before the penalty is levied. We hate hidden charges as much as you.
In case you're facing any issue, do drop us a message, and we'll get back to you at the earliest and have it resolved.
Your Simpl bill is generated twice a month.
All your transactions between 1st and 15th are added into one bill, which is generated on the 15th.
All transactions made between 16th and 30th/31st are added into one bill, which is generated on, you guessed it, 30th/31st.
Of course, you can choose to pay for your transactions even before your bill is generated. You can do so by logging into your account via our website or app.
When you buy online, you have to carefully enter all your details every time. Sadly, this complicated verification process only gives you the illusion of security. In reality, the chances of fraud go up every time you share information over the internet.
With Simpl, your payment details are never passed to the merchant. By drastically reducing the number of times you give out your banking data online, we drastically reduce the chances of fraud! :)