The back-to-school season is here with us with parents preparing for the excitement and challenges of getting their children ready for another term of learning.
This time of the year generally brings a long list of obligations, from acquiring uniforms and textbooks to settling tuition fees. The financial strain can be overwhelming.
Fortunately, Absa Bank is ready to lend a hand with its Buy Now Lipa Pole Pole (BNPL) credit card option, which provides a quick and flexible alternative for parents. The innovative and user-friendly card allows parents to spread the cost of back-to-school purchases and school fee payments in a structured payback plan over a period of up to 12 months.
Benefits
- Flexible Repayment Plans: Absa Bank’s BNPL credit offering provides parents with the flexibility to choose a repayment plan that suits their financial situation. This ensures that educational expenses can be spread out over several months, preventing a sudden financial strain.
- For institutions that accept card payments, you can also pay for school fees using the BNPL option and spread the fees into convenient monthly instalments.
- Convenient Application Process: The setup and application process for Absa’s Buy Now Lipa Pole Pole card feature is instant and hassle-free, ensuring a seamless experience for customers without any unnecessary delays or complications. Parents only need to visit their nearest Absa branch, where the customer service team will assess their monthly income to determine their creditworthiness. Once you qualify, you get a credit card that gives you access to the product.
- Friendly interest rates: With an interest rate as low as 2.67 percent per month, the Absa Buy Now Lipa Pole Pole is among the best rates available in the market. This guarantees that you won’t have to worry about breaking the bank while you enjoy the convenience.
- Peace of Mind: By utilising Absa Bank’s BNPL credit offering, parents gain peace of mind knowing that they can provide for their children, giving them the best possible education without compromising their financial stability. The flexibility and convenience offered by BNPL allow parents to focus on what truly matters—your child’s academic journey.
How the Absa BNPL solution works
- Visit your favourite bookstore to shop (including getting a service) or pay tuition fees
- You pick an item or pay your school fees and swipe your Credit Card
- You log into the Absa mobile banking app/internet banking platform to convert the transaction into a BNPL plan
- You pick the instalment plan that works best for you (3, 6, 9, or 12 months)
- Your bill is settled and you walk off with your purchases
BNPL repayments are as per the instalment plan selected