SpiceJet launches EMI scheme for buying tickets

There will be options for part-payment in three, six, nine and 12 months via select credit cards

Low-cost carrier SpiceJet has introduced a scheme for part-time payment of air ticket fares for its customers.

The scheme, 'Book Now, Pay Later' will allow SpiceJet flyers to make payment through Equated Monthly Installment (EMI) by credit cards of Axis Bank, HSBC Bank, Kotak Bank, and Standard Chartered Bank, the company announced on Thursday.

There will be options for part-payment in three, six, nine and 12 months. "Passengers holding credit cards issued by these banks can pay as per their own preference of schedule that may vary between three and 12 months, at interest rates in the range of 12-14 per cent," the company said here in a statement.

"We are confident that this scheme will make air travel more economically-viable than ever before for those customers who want to travel now, but pay later," SpiceJet Chief Marketing Officer Debojo Maharshi said.