1. What is Payit SNPL?
SNPL (Send Now Pay Later) allows customers to send money internationally (remittance) or to a beneficiary instantly and repay the amount later within 30 days.

2. How is SNPL different from onDemand ?
SNPL (Send Now Pay Later) is used for direct beneficiary transfers internationally (remittance), while onDemand Payit credits funds to your Digital Account for general use.

3. Where is the SNPL amount transferred?
The amount is directly transferred to the selected beneficiary’s account.

4.Can I transfer more amount than my SNPL limit?
“Yes, you can transfer an amount higher than your SNPL eligibility by paying the remaining balance from your Payit Digital Account .
Example: If your SNPL eligibility is ê 2,000 and you want to transfer ê 3,000, ê 2,000 will be covered under SNPL and the remaining ê 1,000 will be debited from your Payit Digital Account  balance.”

5.Can I split the transfer between SNPL and my Digital Account ?
“No, the full SNPL eligible amount must be utilized first.
Example: If your SNPL eligibility is ê 3,000 and you want to transfer ê 4,000, ê 3,000 will be used under SNPL and the remaining ê 1,000 must come from your Payit Digital Account . You cannot use only part of the SNPL (e.g., ê 2,000) along with Digital Account funds.”

6.Can I have both SNPL and OnDemand (MOD) at the same time?
No, you cannot have both SNPL and OnDemand (MOD) loans active at the same time.

7. Is SNPL eligibility different from onDemand?
No, Eligibility criteria are similar and based on KYC, income validation, and repayment history.

8. Are there any fees for SNPL?
Yes, upfront one-time fixed Service Fee and Transfer Fees is applied. Late payment fees apply if payment is delayed.

9. What happens if my SNPL transfer fails?
If the transfer fails, the loan amount will be reversed, the loan will be automatically cancelled, and the applicable fees will be credited back to the Payit Digital Account.

10.Is there a late payment fee for SNPL?
Yes, a fixed late payment fee is charged if repayment amount is not paid on or before the due date.

11. When is the repayment due?
The loan term begins from the date the funds are credited to to the beneficiary.

12. What are the available repayment plans?
Only a 30-day repayment plan is available. Customers must repay the OnDemand or SNPL loan within 30 days.

13.Can I repay my loan early?
Yes, you can close your loan early by repaying the full outstanding amount before the scheduled end date.

14.Where can I manage my repayments?
All repayment options—including pre-closure, late payments, and payment date checks—can be managed directly through the Payit app.

15. Is a late payment fee applicable if I fail to make the repayment by the due date?
Yes, a fixed late payment fee of ê 10 is applied if the payment is not received by the due date.