N26 customers to settle past payments in installments

The new product presents a responsible alternative to traditional loans or buy-now-pay-later products


N26 customers to settle past payments in installments. Source:

N26 has announced the launch of N26 Installments, a new flexible payment feature. It will offer eligible customers in Germany the option to split past purchases into installments to be paid back over time, instantly giving them access to up to 82.71% of the original purchase price.

N26 Installments will bring customers a new level of financial freedom, confidence and flexibility, giving them the power to manage their spending retroactively in the N26 app and access funds straight away if needed, all at a fair and transparent cost, with no late payment fees.

We know that consumers tend to approach lending and credit products with care, especially because of concerns that these may encourage them to spend more than they can afford to, building up large debts that they may struggle to pay off. We see N26 Installments as a responsible alternative to traditional loans or buy-now-pay-later products as it focuses on past purchases already paid for in full. N26 Installments helps customers go back in time and split the payment retrospectively to unlock financial flexibility immediately as it is needed
Gilles BianRosa, Chief Product Officer at N26

With N26 Installments, account holders in Germany will get the option to pay for purchases of €50 to €500 made at eligible merchants in the past 4 weeks in easy-to-manage installments. With the option to split monthly payments over 3 to 6 months, they will be able to select a plan that suits their needs, with transparent pricing and interest rates displayed clearly in the app.

With this, cash can be made available instantly for times where more financial flexibility is needed, and customers will be immediately reimbursed the original cost of the chosen purchase, minus the first installment.

Payments will be deducted automatically from their account every month, and reminders will be sent the day before a payment is due so that it’s never a surprise. Eligible customers will always have the possibility to pay installments off early if they wish, with no extra fees.

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