Ola Money has recently upgraded the Ola Money Postpaid to Postpaid Plus. This up-gradation is an invite-only offer. This offer is only for the users upgrading their Ola Money Postpaid to a higher credit line which has a 30-days credit cycle.
The upgrade from Ola Money Postpaid to Postpaid Plus can be done by following a few simple steps. This offer is a loan product for which Ola has partnered with financial partners like NBFC.
The limit in Postpaid Plus may increase based on the usage and on the timely payment of the bill by the product user. However, for any activity that is deemed risky and poses a threat, the organization has the right to revoke the line.
If the user does not pay back, reminders are sent through emails, SMS, and phone calls during the given time duration. In the event of late payment, the user is charged a late payment fee.
Even after several reminders if the user is delaying the repayment the partners of the company can report the case to the credit bureaus. This will result in the inability to gain access to any sort of financial product and will impact the credit rating.
Information that is required for upgrading to Post-paid Plus is as follows:
Note: The list may include additional information as per the KYC norms when the organization changes the regulations.
KYC verification may fail due to the following reasons:
OlaMoney Postpaid plus offers many benefits that were previously not available. OlaMoney upgrade will now allow the users to pay money later. Users can now use OlaMoney for transactions across various apps other than cab applications. It is safe and reliable as the company has partnered with other financial partners.
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