Afterpay’s Pay Monthly product is an installment loan. Upon approval, you may be offered a flexible way to pay for high-value orders up to 24 months! Pay Monthly allows purchases from $100 to $20,000 depending on the merchant.
How does interest work with Afterpay monthly payments?
Pay Monthly is a simple interest loan. Interest is charged on your principal balance only, not on any previously accrued interest. There are no late fees or origination fees. Please refer to the Truth In Lending Disclosure in the Loan Agreement that will outline the total finance charge.
How is my interest rate calculated?
Interest rates are based on several factors, including your credit profile, your past payment history with Afterpay, and the merchant where you're making your purchase. Because of this, you may see different rates and plans from one merchant to another.
Where can I shop with Pay Monthly?
Monthly payments are available to customers in the U.S and is not available for all merchants. If available, the option to choose ”Pay Monthly” will be presented during checkout. Eligibility for the Pay Monthly option requires a soft credit check that has no impact on your credit profile. Please note that until an offer is selected, rates and offers are subject to change.
Pay Monthly is not available in:
- Nevada
- West Virginia
- Hawaii
- New Mexico
Click here to find your favorite stores that offer monthly payments.