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Top 10 Cheapest Platforms to Pay Rent Using a Credit Card

By Rohit Mishra
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Credit cards have become a popular method for paying rent in India. Landlords typically expect rent payments to be made by a specific deadline each month, but sometimes, individuals may find themselves short on cash due to various reasons. In such situations, credit cards can be very useful. You can pay your rent with just a swipe and then repay the bank later. The 45-day interest-free period that credit cards offer provides ample time to secure the funds needed to repay the bank.

Today, numerous rent payment apps are available online that allow you to pay rent using credit cards. Let’s explore 10 Cheapest Platforms to Pay Rent Using a Credit Card (the top 10 apps).

Top Ten Rent Apps To Pay Rent Using Credit Cards

App Convenience Fee
Paytm 1% + GST
PhonePe 1.70% + GST
Buildium 2.95%
PayZapp 2.5% + GST
ePayRent 1.99%
CRED 1% to 1.75% + GST
RedGirraffe 0.39% + GST
Freecharge 0.9%

The Growing Trend of Paying Rent with Credit Cards

The practice of paying rent with credit cards has gained traction in recent years, driven by technological advancements and the increasing preference for cashless transactions. This trend is particularly appealing to millennials and tech-savvy individuals who value convenience and the opportunity to maximize credit card rewards.

Benefits of Using Credit Cards for Rent Payments

  1. Reward Points and Cashback: Earn points or cashback on your rent payments.
  2. Interest-Free Period: Utilize the grace period to manage cash flow.
  3. Building Credit Score: Timely payments contribute positively to your credit score.
  4. Convenience: Automate payments to avoid late fees.
  5. Security: Enhanced security features of credit cards reduce fraud risks.

Overview of Rent Payment Platforms in India

Criteria for Selection

  • Transaction Fees: Lower fees are preferable.
  • User Interface: Ease of use and intuitive design.
  • Security: Robust security measures.
  • Additional Features: Value-added services like reminders and split payments.

List of Platforms

  1. PhonePe
  2. CRED RentPay
  3. PayZapp
  4. MyGate
  5. RentPay
  6. EZPay
  7. Propelld
  8. ePayRent
  9. Paymatrix
  10. Freecharge

Platform Analysis

1.PhonePe

PhonePe is one of India’s most popular payment apps. In 2021, it introduced a rent payment feature. The app’s interface is user-friendly and similar to Paytm and Freecharge, requiring you to enter only the essential details.

Features and Benefits of PhonePe:

  • The app allows individuals to use American Express credit cards, a feature not available on other payment apps.
  • Includes an automated payment option, ensuring timely payment of rent without manual intervention.
  • Features a communication tool that enables direct interaction between tenants and landlords.Offers incentives, cashback, and rewards, making it a highly attractive option for users.
  • Provides a user-friendly interface coupled with advanced security features for safe transactions
  • Maintains detailed records of digital payments, simplifying tracking and documentation for both tenants and landlords.

2. PayZapp (By HDFC Bank)

You can pay your rent using a credit card with PayZapp. However, it’s not a standalone app for rent payments; it connects you to other major platforms for this purpose.

Features and Benefits of PayZapp:

  • RedGiraffe Integration: PayZapp connects you to the RedGiraffe app for rent payments, allowing you to earn bonus points or cashback.
  • Nobroker Payments: Use the PayZapp wallet option to pay rent on Nobroker and avail of extra cashback offers.

3. CRED RentPay

CRED is a credit card bill payment app that rewards you for paying your credit card bills on time. It also allows you to pay your rent using a credit card each month. By doing so, you can earn CRED points, cashback, and other rewards. To use the CRED rent pay service, you can visit the CRED app and apply for it. The service charges a transaction fee ranging from 1% to 1.5%, depending on your credit card network.

Some benefits of paying the rent using a credit card via CRED app are:

  • If you use your RuPay credit card to pay at least ₹10,000 in rent through the CRED app, you’ll get ₹250 off. This offer can be used only once during the promotion.
  • If you use your AXIS Bank credit card to pay rent for the first time, you’ll receive a cashback of ₹500.
  • When you pay your rent using an IDFC Bank credit card, you have the chance to earn up to 10 times the usual reward points.
  • You’ll also receive an automatic cover of ₹1 lakh.

4. MyGate

MyGate, a popular community management app, has launched a new service called RentPay. With RentPay, users can conveniently make their rent payments without any delays. This feature allows users to pay their rent monthly using a credit card through the MyGate app. Additionally, users can earn exciting rewards on their credit card payments through the RentPay service.

Benefits of paying rent using a credit card with MyGate are:

  • Receive cashback and enjoy an interest-free credit period of 45 to 60 days.
  • You have the opportunity to earn exciting rewards through your credit card usage.
  • You can make UPI transactions with zero transaction costs using this service.
  • You can conveniently handle all your household payments from a single platform.
  • You have the option to download rent receipts and claim HRA tax benefits through the app.

5. RentPay

Features and Services

  • Automated Payments: Set up recurring payments.
  • Low Transaction Fees: Minimal charges for transactions.
  • Security: High-level security measures.

Pros and Cons

  • Pros: Automated payments, low fees.
  • Cons: Limited additional features.

User Experience: RentPay is appreciated for its simplicity and low fees, though it lacks some advanced features offered by competitors.

6. EZPay

Features and Services

  • Ease of Use: Simple setup and payment process.
  • Low Fees: Competitive pricing for transactions.
  • Security: Robust security protocols.

Pros and Cons

  • Pros: Easy to use, low fees.
  • Cons: Limited to certain cities.

User Experience: Users like EZPay for its ease of use and low fees, although its limited geographical availability can be a drawback.

7. Propelld

Features and Services

  • Flexible Payment Options: Multiple payment methods.
  • Low Transaction Fees: Minimal charges for transactions.
  • Security: High-level security measures.

Pros and Cons

  • Pros: Flexible payment options, low fees.
  • Cons: Customer service can be improved.

User Experience: Propelld is favored for its flexibility and low fees, though users have noted room for improvement in customer service.

8. ePayRent

ePayRent is an excellent platform that links landlords and tenants, streamlining the online rent payment process. With ePayRent, you can use a credit card to pay your rent and benefit from a zero-interest credit period of up to 45 days. Additionally, paying your rent on time can enhance your credit history (CIBIL score) and earn you reward points.

Some benefits of paying the rent using a credit card via ePayRent are:

Secure Payments: Using ePayRent, you can securely make payments with a credit card, ensuring that your sensitive information is protected through encryption.

Instant Rent Receipts: Receive your rent receipts instantly via email, which you can then use to claim HRA exemption.

Reward Points: Earn reward points for every payment made through ePayRent, which you can later redeem for various benefits.

9.Paymatrix

Introducing Paymatrix, another noteworthy platform for paying rent via credit card. Paymatrix offers a smarter way to handle your monthly rent payments. Tenants can conveniently pay rent using a credit card, generate rent receipts, and even access their rent agreements online, all from one centralized platform.

How to Pay Rent Using Credit Cards on Paymatrix?

  1. Download the Paymatrix app from Google Play Store.
  2. Set up an account using your email or mobile number.
  3. Add beneficiary details by providing your landlord’s account information.
  4. Make your payment to complete the process and enjoy exciting rewards and cashbacks.

Benefits of Paying Rent With Credit Card

  • Credit-Free Period: Enjoy a 45-50 day* period to repay your rent amount to your credit card.
  • Exciting Rewards & Cashbacks: Earn cashback of up to 2%* and receive discounts from Paymatrix and its partners.
  • Avoid High-Interest Loans: Utilize your credit card for short-term cash requirements.
  • Improve Your Credit Score: Enhance your credit score through timely repayments.

10. Freecharge

Freecharge, a platform by Axis Bank, is a payment app that facilitates easy transfer of rent from your credit card to your landlord’s account. A minimal convenience fee of 1.1% is charged on every transaction made from your credit card to pay rent. Additionally, you can earn up to 3% reward points when paying rent using your credit card through Freecharge.

Benefits of Paying Rent with Credit Card via Freecharge:

  • Cashback or Reward Points: Stand a chance to earn cashback or reward points based on your card scheme when you pay your rent.
  • Multiple Landlords: Add up to 3 landlords at a time and transfer up to Rs. 2 lakh of rent amount in a day.
  • Axis Bank Credit Card Exclusive: Paying rent via Axis Bank credit card allows you to earn 3x Edge Reward Points.

Conclusion

Paying rent with a credit card in India has become increasingly popular due to the convenience and benefits it offers. Each platform has its own unique features and fee structures, making it essential to choose one that best fits your needs. Platforms like RedGiraffe, CRED RentPay, and NoBroker stand out for their competitive fees and user-friendly interfaces. As this trend continues to grow, more platforms are likely to emerge, offering even more options for renters in India.


Frequently Asked Questions
How can I pay rent with a credit card in India?
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What are the benefits of paying rent with a credit card?
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How does paying rent with a credit card help in building credit scores?
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Are there any transaction fees associated with paying rent through credit cards?
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Can I earn cashback or reward points by paying rent with a credit card?
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Is it safe to pay rent with a credit card online?
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How can I track my rent payments made through credit cards?
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Are there any restrictions on the amount of rent I can pay with a credit card?
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Can I automate my rent payments with a credit card?
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How can I maximize the benefits of paying rent with a credit card?
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