Amazon, how to pay in installments with a loan


After introducing the possibility of buying some products in installments in the previous months, now Amazon it goes even further by allowing users to buy selected products through CreditLine financing from Cofidis. For the moment, the new operating mode is still being tested and available only on about twenty products and for users who have added their current account number to their Amazon account. If all goes well it could be released for everyone in the coming months.

Funding is limited only to users who have added the current account because the monthly installments are scaled automatically, without the person having to go to the post office or to the bank to pay the bulletin. In order to access the loan, the product purchased must have a cost between 100 and 1500 euros and you can decide to split your spending into 3, 5, 6, 10, 12, 18 or 24 monthly installments. The approval of the financing must be done by Cofidis and it is quite fast.

How to connect the current account on an Amazon account

To take advantage of Cofidis’ CreditLine financing on Amazon it is necessary connect your current account to your account. To do this, you need to log in to the Amazon account, press on the top right on “Accounts and lists” and then on “Payment options”. Below you will find “Enter a new bank account” and then on “Add a bank account”. At this point you must enter the BIC / Swift code, the IBAN and the name of the account holder.

How to apply for funding on Amazon

To pay with financing it’s quite simple, but you need to follow specific steps. First of all, it is necessary to find a suitable product: for the moment there are not many and they concern above all Xiaomi, Realme and Redmi smartphones, or accessories from the same manufacturers. To understand if a device can be purchased through financing, you need to find the word “Financing with Cofidis CreditLine: pay now or pay in multiple installments“.

At this point you have to put it in the cart and proceed with the payment, selecting how method the CreditLine mode. By concluding the order, you will be directed to the Cofidis website where you will need to enter all your personal data to apply for funding. Usually the approval procedure is immediate.

Differences between installment payment and loan payment

What are the differences between installment payment and financing? They are mainly two: the duration and the cost.

The payment in installments offered by Amazon allows the maximum to divide the cost into five monthly installments at no additional cost. The payment with Cofidis CreditLine financinginstead, it allows you to defer the purchase into 3, 5, 6, 10, 12, 18 or 24 monthly installments, but by paying a commission for each installment. The greater the number of installments, the higher the commission to be paid.

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