This blog post compares popular rent payment apps in India. Paying rent with a credit card usually incurs a convenience fee ranging from
1% to 1.75%. While some apps like Cred offer
reward points, others like hitch has lower fees with best customer support. The best app depends on your priorities— convenience with rewards or pure cost savings.
PhonePe: Charges a
1.5% – 3% + GST convenience fee on rent payments using a credit card.
Cred: Charges a variable fee of
1% to 1.75% + GST on credit card rent payments, offering reward points that may not offset fees.
Hitch: Charges a
1.4% convenience fee for credit card rent payments; UPI payments are free.
NoBroker Pay: 1% of transaction fees for rent payments, regardless of the payment method.
RedGirraffe: Lowest convenience fee at
0.39% + GST on credit card payments, focused on rent payments.
The Great Rent App Showdown: Unmasking the Hidden Fees of PhonePe, Cred, Paytm & The Gang!
Ah, rent day! The joy of finding a cozy apartment quickly evaporates when those pesky fees creep in, or rent payments are a true hassle when you cannot pay with your credit card. But fret not, tenants of India! This blog post is from your rent app Robin Hood, here to unveil the hidden charges lurking in popular payment platforms so that you can have an easy-peasy rent payment experience.
Let's face it, convenience comes at a cost. But how much exactly? We compared the top contenders to bring you this dynamic comparison of rent payment charges:
Player 1: PhonePe
Beloved for everything from recharges to bill payments,
PhonePe charges a 1.00% convenience fee on rent payments using a credit card. While not the most expensive, it can add up to hefty rents.
Player 2: Cred
Known for rewarding credit card payments,
Cred charges a variable fee of 1% to 1.75% + GST on rent payments. While you might earn some sweet reward points, the fee can outweigh the benefit depending on the card and spending habits.
Player 3: hitch
A rising star, hitch lets you choose between credit card payments and other methods for rent.
Credit card transactions incur a convenience fee of 1.40%, slightly higher than PhonePe's but more rewarding as you get guaranteed cashback. But remember, UPI payments on hitch are currently free – a budget-friendly option for those with linked bank accounts.
Player 4: NoBrokerPay
Integrated with the NoBroker property portal,
NoBroker Pay boasts zero transaction fees for rent payments, regardless of the payment method. This makes it a clear winner for cost-conscious renters, especially for high-value rents.
Player 5: RedGirraffe
This rent-focused platform takes the crown for the lowest convenience fee at 0.39% + GST on credit card payments. It might not be as widely known as the others, but for those looking for maximum savings, RedGirraffe is worth checking out.
So, who wins the Rent App Smackdown?
It depends on your priorities! If you prioritize convenience and have a rewards card with high benefits, Cred might be your champion. But for pure cost savings, NoBroker Pay and RedGirraffe reign supreme.
Remember, fellow renters, knowledge is power (and saves money)! Before you hit that "pay rent" button, compare the fees and choose the app that best suits your wallet and payment preference.
Do you have a favorite rent payment app?
Share your experiences and any hidden gem apps we might have missed in the comments below!
June 14, 2024
