From now on, IDBank's Rocket Line digital installment will be available for a longer period. IDBank reveals that the period of the digital installment will depend on the amount.
In case of non-cash payments of up to AMD 100,000 the maximum term of the loan is 6 months, in case of payments from AMD 100,000 to AMD 500,000 it is 24 months, and in case of payments exceeding AMD 500,000 the maximum term is already 36 months.
It is noteworthy that instead of the previous period of up to 6 months, the customer can use the Rocket Line 0% service for a period of up to 12 months, depending on the conditions of the particular outlet.
As for the form of repayments, it should be mentioned that in case of receiving Rocket line for a period of 9 to 36 months, the client will make the payments in an annuity version, that is, he will make equal repayments during the selected months. The classic Rocket line continues to operate under the same conditions, that is, if you have chosen a payment term of up to 6 months, you can pay the amount in parts or in full before the deadline of the digital installment.
According to Tigran Mkhitaryan, corporate business director, the new change is an excellent offer not only for customers, from the point of view of convenience and flexibility, but also a good option for businesses to attract more customers. "We noticed that there was a great demand from both partner merchants and customers regarding the extension of the terms of Rocket Line and Rocket Line 0%. That's why the "Buy now, pay later" format was even more adapted to customers, giving them the opportunity to independently choose the maximum period of payments," says Mkhitaryan.
To use Rocket Line for a longer period, customers need to update their Idram&IDBank application, and choose the period that suits them when making payments with digital credit.