The security deposit is a refundable down payment that may apply to some customers when setting up a Deferit account. It’s not a fee and is refunded in full once your Pay in 4 plan is paid off.
Who needs to pay a security deposit?
- Most customers: No deposit required.
- Customers with lower credit scores: A deposit may be required as part of account setup.
How much is the security deposit?
- The standard amount is $19.99.
- In some cases, the deposit may be higher, depending on your credit profile.
Note: Our down‑payment calculator defaults to $19.99 because it’s designed for customers with lower credit scores. Customers with average or better scores typically won’t see a deposit.
Why does Deferit require a deposit?
The deposit helps Deferit cover your bill upfront, ensures timely payments, and helps protect your credit score while you repay in installments.
When do I get the deposit back?
- Your deposit is automatically refunded once all Pay in 4 installments are repaid.
- It’s typically returned with your final (fourth) payment.
- No action needed — refunds happen automatically to your original payment method.