Repayment of loan
Every Zilch customer gets their virtual Mastercard, which they can also connect to Google Pay, Apple Pay, or Samsung Pay for in-store mobile payments.
The users can opt to pay for their purchases in four installments, and the repayment schedule is as follows:
The initial down payment of 25% minimum of the acquisition price;
Next 25% of the remaining amount in 14 days after the purchase date;
next 25% of the remaining amount in 28 days after the acquisition date;
In the end, you will have to pay the remaining 25% in 42 days after the purchase date.
In case you opt for one payment, you will have to return the funding in full. You will earn a 2% cash back and can put it towards the future purchase.
Each installment price is taken automatically from your linked debit card for every payment you make.
Early payoff
Customers who make their initial Zilch purchase cannot pay off their second installment early.
Limits on funding amounts
Zilch may adjust your credit limit upwards or downwards automatically, depending on how often you use it. Your chances of increasing your available spending are better if you are a frequent user who meets all payment deadlines and settles all transaction balances on time. On condition that you are a regular user who meets all payment deadlines and pays all transaction balances on time.