SpiceJet will now offer flight tickets in EMI payment option, in which tickets can be purchased choosing a time period of 3, 6, 9, 12 months. The popular flight company has launched its 'Book Now, Pay Later' offer today.

For this scheme, SpiceJet partnered with select private banks like HSBC, Axis Bank, Standard Chartered Bank, Kotak Bank, whose account holders can buy the tickets with their credit cards at interest rates between 12 to 14%. SpiceJet also announced that more banks will be added shortly to facilitate more number of customers.

Utilizing this EMI scheme, customers can save over 1000 Rupees in terms of interest charges for a 12-month payment plan on a ticket that costs Rs. 5000. However, in case of a refund, customers have to pay the costs of the interest rate already billed for that particular booking.