Indian Railways New Scheme : Indian Railways has introduced a revolutionary initiative that allows passengers to book their train tickets without paying upfront. This new scheme, titled “Book Now, Pay Later,” is designed to make travel more accessible and convenient for everyone, especially those facing temporary financial constraints. With flexible payment options and user-friendly booking procedures, this scheme is set to transform the way Indians plan their rail journeys.
Let’s explore the key features, eligibility, and benefits of this scheme in detail.
Indian Railways New Scheme : What is the ‘Book Now, Pay Later’ Scheme?
The ‘Book Now, Pay Later’ scheme by Indian Railways is a collaboration with select payment service providers that allows passengers to reserve their train tickets immediately and defer the payment to a later date. This is a credit-based service where the user can pay for their journey days or even weeks after the booking has been made.
Key Highlights:
- No need to pay at the time of booking
- Credit-based ticket booking facility
- Payment can be made later through EMI or full settlement
- Available for both sleeper and AC classes
- Partnered with financial institutions and payment platforms
How Does It Work?
The process of booking tickets under this scheme is simple and integrated with the IRCTC website and app. During the checkout process, users can select the ‘Pay Later’ option, which redirects them to the partnered service provider for approval.
Step-by-Step Booking Process:
- Visit IRCTC website or mobile app
- Choose train, date, and class as usual
- On the payment page, select “Pay Later” option
- Get redirected to the partnered provider (e.g., ePayLater, Simpl, Lazypay)
- Complete KYC (if needed) and confirm booking
- Make the payment later as per the selected plan
Who Can Avail This Facility?
Not everyone is eligible by default. The payment partners have their own risk assessment criteria based on user behavior, credit history, and previous transaction records. However, many frequent users of IRCTC or those with a good online transaction history are often pre-approved.
General Eligibility Criteria:
- Indian citizen with a valid PAN card
- Age 18 or above
- Active mobile number linked with IRCTC account
- Valid email ID
- Satisfactory creditworthiness (as per partner platforms)
Partner Platforms and Payment Terms
Indian Railways has collaborated with multiple “Buy Now, Pay Later” providers to offer this facility. These platforms offer different repayment options including interest-free short-term windows and longer-term EMIs.
Comparison Table of BNPL Providers with IRCTC
| Provider | Grace Period | EMI Option | Interest Rate | Late Fee | KYC Required | Approval Time |
|---|---|---|---|---|---|---|
| ePayLater | 14 days | Yes | 0% for 14 days | Yes | Yes | Instant |
| Simpl | 15 days | No | 0% | Yes | Minimal | Quick |
| LazyPay | 15 days | Yes | 0%-15% | Yes | Yes | Instant |
| Paytm Postpaid | 30 days | Yes | 0%-3% monthly | Yes | Yes | Quick |
| MobiKwik Zip | 15 days | No | 0% | Yes | Yes | Instant |
| Ola Money Postpaid | 14 days | No | 0% | Yes | No | Fast |
| FlexPay | Variable | Yes | Variable | Yes | Yes | Moderate |
| Kissht | Upto 30 days | Yes | 0%-2.5% | Yes | Full KYC | Varies |
Benefits of the Scheme
This new facility offers a wide range of benefits for travelers, especially for last-minute planners, emergency travelers, and budget-conscious families.
Key Advantages:
- Book tickets instantly even if you don’t have funds at the moment
- Ideal for emergencies and unexpected travel needs
- Multiple providers offering flexible repayment options
- Encourages digital and cashless transactions
- Eliminates need to borrow money from friends or family
Important Terms and Conditions
While the scheme is extremely beneficial, it also comes with specific terms and conditions. Users must ensure that they understand the repayment obligations to avoid penalties.
Must-Know Terms:
- Full repayment is mandatory within the grace period to avoid interest
- Defaulting may lead to a negative credit report
- Limited to ticket bookings only, not valid for catering or other services
- Once selected, the payment option cannot be changed post-booking
- Service fees may apply depending on the partner
Sample of Additional Fees and Charges Table
| Service Provider | Processing Fee | Late Payment Fee | EMI Tenure Options | Interest-Free Period |
|---|---|---|---|---|
| ePayLater | Rs. 20-40 | Rs. 100-200 | 3/6 months | Yes (14 days) |
| Simpl | Nil | Rs. 250 | Not Applicable | Yes (15 days) |
| LazyPay | Rs. 0-99 | Rs. 200+ | 3/6/9 months | Yes (15 days) |
| Paytm Postpaid | Nil | Up to Rs. 500 | 1-3 months | Yes (30 days) |
| Kissht | Rs. 100-250 | Rs. 300+ | 3/6/9/12 months | Upto 30 days |
How to Repay the Amount Later?
Repayment can be done through UPI, net banking, debit cards, or even auto-debit mandates depending on the provider. Users receive timely reminders and alerts for due dates.
Repayment Process:
- Login to the BNPL partner account (e.g., ePayLater dashboard)
- Check the outstanding amount and due date
- Choose preferred repayment method (UPI/Net banking/Card)
- Pay manually or set up auto-debit
- Get instant confirmation on successful payment
FAQs About IRCTC ‘Book Now, Pay Later’ Scheme
1. Can I cancel a ticket booked under the Pay Later scheme?
Yes. You can cancel the ticket like any other booking, but cancellation charges apply, and you must still repay the service provider.
2. Is this available for tatkal tickets?
Yes, subject to availability and partner approval.
3. Is there any interest charged?
Some providers offer interest-free windows, while others may charge interest on extended tenures.
4. What happens if I fail to repay on time?
Late payment fees apply, and your credit score may be impacted.
5. Can I use this for return bookings?
Yes, the scheme is available for all valid booking types, including return journeys.
The ‘Book Now, Pay Later’ scheme by Indian Railways is a landmark move in making train travel more inclusive and financially flexible. By partnering with digital credit platforms, IRCTC has enabled millions of passengers to plan their journeys without the immediate burden of payment. However, travelers should use this facility responsibly and ensure timely repayment to avoid extra charges and maintain financial discipline.
This article is for informational purposes only. The terms, availability, and partner list may change over time. Users are advised to check the official IRCTC website or consult with individual BNPL service providers for the latest updates before availing of the facility.
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