AfterPay is the payment option that web shops offer to make a digital purchase, receive your product at home and receive your digital invoice via email and then pay. This option gives the consumer certainty; he pays after the product is received.
Paying via AfterPay should not be confused with purchasing by installment or by payment in installments. The big difference is that you pay the amount via AfterPay once in its entirety via the digital giro within the payment term of 14 days. Purchases up to € 500 can be paid via AfterPay.
Installment purchase is a form of deferred payment in which you repay the amount due in installments and against payment of a pre-agreed interest rate. You pay no interest for purchases that you pay via AfterPay. Of course you must make your payment within the payment term.
Making purchases and paying in installments afterwards seems like a great option at the time of purchase; you get the product and you pay later. Ultimately, you are a lot more expensive; the interest that an installment buying provider charges is high. Often even the maximum legally permitted 14%.
If you want to make a purchase for an amount higher than € 500, you can opt for a revolving credit as financing . You can freely spend the loan amount and you do not have to deal with the payment term set by the selling party. You can finance the purchase immediately and repay the credit withdrawn in monthly payments. The interest on a revolving credit is much lower than the interest on installment purchases. Our rates start at 4.5%.