What is Deferit?
We created Deferit to be an interest-free budgeting tool that allows you to pay and manage your bills on time and on your own terms.
How do we do this?
We pay your bill for you upfront on the date you instruct us, giving you the flexibility to pay us back in the form of 4 installments payable biweekly. We give you an extra week with the last installment as an added bonus.
Simply take a picture, select a file, or upload a photo of your bill to our platform. Choose how much you want to pay and when you want to pay it, and we pay that bill for you on the date you chose! You can choose to pay it back to us over time in 4 biweekly payments, with no interest or late fees ever!
If you don't want to split it into installments but want to pay a bill with your credit or debit card, our Pay It feature allows you to simply take a photo of the bill you want to pay, you pay us the full amount with your plastic card and we pay the bill for you. We even support bills that need to be paid by checks bringing you the convenience of paying bills the way you want.
The most common bills we support are utility bills (gas, water, electricity, phone, internet, etc.) and car registrations, but you can defer almost any bill with us!
The bottom line:
When uploading your bill, you specify the date that you want us to pay it, as well as the amount you would like us to pay. Your four installments begin on this date, and we take the first payment before paying your bill for the specified amount. Please ensure you have sufficient funds in your account for your first installment to avoid any bumps in the road. Your installment amounts are calculated for you by our platform, and you will be notified at every step along the way with any progress made on your bill!
If you are using our Pay It feature, you pay us the full amount of the bill and we pay the bill for you on the same day. Please note there may be additional processing times for payments to be cleared at your biller.