Credit cards if used the right way offer some amazing rewards and benefits. So it makes sense to try and use them for all our spending. One such expense for most of us is the home rent. That makes up a big chunk of our monthly spending and is one must-do expense on credit cards. Luckily, now there are a lot of apps that let us pay our rent by credit card as well. Here are the best platforms to pay rent with a credit card online in India.
1. RedGirraffe
RedGirraffe is one of the oldest existing rent payment platforms in India. The service in itself manages only the verification and registration process. It has tie-ups with most banks in India that allow payment of rent by credit/debit cards. RedGirraffe also charges the lowest convenience fees at 0.39% for payments. This adds up to significant savings with the reward points on credit cards. It also has lucrative offers running around the year on various credit cards. The rent transfer to the landlord’s account takes 2-3 working days from the credit card payment.
The only downside with RedGirraffe is the detailed registration process. We need to provide full tenant and owner details (including PAN card). Post verification, RedGirraffe issues a biller registration id in around 2-3 days. Check out my detailed review of RedGirraffe here.
2. NoBroker
NoBroker which started off as a website for zero brokerage rental listings also offers rent payments. It offers society maintenance and house advance payments as well. NoBroker charges a convenience fee of 1%. NoBroker has a simpler registration compared to RedGirraffe. We can start making payments immediately and rent transfers to the landlord’s account are also instant. Like RedGirraffe, it also runs several offers every month for rent payments.
3. CRED
Cred is one of the useful apps for credit card enthusiasts. It started off as a credit card bill payment and rewards app for people with good credit scores. It then started offering several related features in the app. One of those is rent payment. Cred RentPay has the best interface for rent payments. But, Cred RentPay’s convenience fee is on the higher side. It charges 1% to 1.75% depending on the rental amount and card selected for payment.
4. Magicbricks
Magicbricks is one of the most well-known names for real estate. It is also one of the most used websites if you are looking out for places to rent. It has introduced a new RentPay feature that lets you credit cards to pay your landlord. The USP of MagicBricks is a 0% convenience fee for any credit card payment method. So, you get full advantage of your credit card rewards. The registration process is also simple enough and a rental agreement is required.
5. Paytm
Paytm QR codes are everywhere and so is the Paytm app on mobile phones. Now, we can also pay rent with a credit card using the Paytm app. The rent can be transferred to a mobile number, UPI id, or bank account. No prior registration and rental agreement are required. The convenience fee charged for rent payment on Paytm is 1% plus GST.
6. PhonePe
PhonePe is Paytm’s competitor in every area including rent payment. 🙂 The feature works the same way as Paytm. The rent can be transferred to a mobile number, UPI id, or bank account. No prior registration and rental agreement are required. The convenience fee charged for rent payment on PhonePe is 1.75% plus GST.
Comparison of Rent Payment Platforms
| Platform | Rental Agreement | Convenience Fee |
|---|---|---|
| RedGirraffe | Yes for rent above Rs 20000 | 0.39% + GST |
| NoBroker | Yes | 1% + GST |
| CRED | No | 1% to 1.75% + GST |
| Magicbricks | Yes | 0% |
| Paytm | No | 1% + GST |
| PhonePe | No | 1.70% + GST |
My View
Paying the rent with a credit card has several advantages. We get card rewards, and cashback and can also meet spend-based fee waivers or offers. The only thing to take care of is the extra convenience fees charged by the platforms.
I use RedGirraffe for rent payments. The primary reason for that is its low fee. After registration, it generates a bill every month. I pay it off using Payzapp and whichever credit card has the best offer for that month.
8 thoughts on “6 Best Platforms to Pay Rent with Credit Card in India”
magicbrick has stoped this service
If we use these apps then we don’t have to pay the processing charges of the credit cards which is around 1%?
That is separate.
Kindly update all applications convince fee details.. Most of the application increase the convince charges.
Firstly thanks you so much for publishing this great article. My doubt here is – Why do you use Payzapp on RedGirraffe and not CC directly and Why don’t you use Magicbricks instead since it has 0% convenience fees.
Magicbricks 0% charges is only valid for some payment modes IIRC. RG allows us to use any payment method.
how to make rent payment using RG and SBI card?
Use PayZapp