Can I borrow money on SPayLater?

Understanding the Limitations of SPayLater: No Direct Cash Withdrawals

SPayLater, a popular payment option offered by Shopee, provides users with the convenience of making purchases and paying for them in installments. However, it’s important to note that SPayLater is not a loan facility, and therefore, funds cannot be directly withdrawn or transferred from the account.

Alternative Option for Cash Loans: SLoan

For those seeking a loan with a cash payout, Shopee offers SLoan, a separate service that facilitates cash loans for qualified individuals. Unlike SPayLater, SLoan allows users to borrow funds that can be withdrawn and used for various purposes.

Eligibility and Terms for SLoan

To qualify for an SLoan, applicants must meet specific eligibility criteria and undergo a credit assessment. The repayment terms, including interest rates and payment schedules, will vary depending on the loan amount and the applicant’s financial profile.

Bill Computation for SPayLater and SLoan

Shopee provides clear instructions on how to compute bills for both SPayLater and SLoan. These instructions are readily available within the respective service platforms and can help users understand their payment obligations and avoid any potential discrepancies.

In Summary

While SPayLater offers a convenient payment option for online purchases, it does not provide direct access to cash. Individuals seeking a cash loan can explore the SLoan service offered by Shopee, which is designed to meet their borrowing needs and provide them with the flexibility and security they require.