India’s EaseMyTrip Advances Fintech Model by Paying Interest on Vacation Deposits

Evolving the ever-popular Buy Now Pay Later model, one travel company is now offering up to 20 percent interest to customers willing to bank their deposit with it.

India’s EaseMyTrip is calling the concept “Save Now Buy Later” and the investment solution offers a bank-like interest rate on the customer’s cash. It claims its new “Systematic Investment Plan” is a travel industry first.

However, customers must invest on a recurring basis. The minimum period is 90 days, after which the collected amount can be redeemed to book a vacation package or a hotel stay. The maximum duration of the investment is two years or $600,000, whichever is achieved first for both domestic and international travel.

EaseMyTrip also provides Buy Now Pay later for its customers.

“Our constant endeavour is to ease our customers’ travel experience in whichever way possible and we are certain that this new investment scheme will enable them to take their holiday and stay from their return on investment,” said chief operating officer Lokendra Saini