• Bank Islam Installment Payment Plan

    Bank Islam lets you split the total bill amount of your retail purchase into affordable monthly instalments. You also have the flexibility to choose from multiple repayment periods that go up to 36 months. This is subject to a minimum payment done in a single receipt.

    Features of Bank Islam Installment Payment Plan

    The following list consists the details of Bank Islam’s Instalment Payment Plan:

    Instalment Payment Plan tenure Minimum amount required Interest rate
    3 months RM150 0% p.a.
    6 months RM300 0% p.a.
    12 months RM600 0% p.a.
    18 months RM900 0% p.a.
    24 months RM1,200 0% p.a.
    36 months RM1,800 0% p.a.

    Benefits

    • Split your retail transaction bill into monthly instalments at 0% interest rates.
    • Choose from varied repayment tenures that start from 3 months and go up to 36 months.

    Eligibility Criteria for Islam Installment Payment Plan

    • Should be the principal cardholder of a Bank Islam Mastercard or Visa credit card.
    • Should be the supplementary cardholder of a Bank Islam Mastercard or Visa credit card.

    List of Credit Cards Featuring Bank Islam’s Instalment Payment Plan

    Credit Card
    Key Benefits
    Interest Rates
    Annual Fee
    Know More

    • Get financing limit of up to thrice your monthly salary.
    • Enjoy 3X complimentary access to premium lounges in Malaysia and Singapore.

    13.5% p.a. to 17.5% p.a.

    RM823.62

    • Get complimentary access to premium lounges thrice a year.
    • Enjoy annual fee waiver with 12 or more transactions per year.

    13.5% p.a. to 17.5% p.a.

    RM823.62

    • Enjoy cash withdrawal at a lower interest rate.
    • Comes with no joining fee.
    • Get annual fee waiver with 12 or more transactions in a year.

    13.5% p.a. to 17.5% p.a.

    RM411.28

    • Earn Trupoint with every RM1 spent on retail transactions.
    • Lower cash withdrawal fees and 40% discount on will writing fees.
    • No joining fees and free takaful protection.

    13.5% p.a. to 17.5% p.a.

    RM411.28

    • Low cash withdrawal fee and no joining fee.
    • Financing limit of up to 3 times your monthly salary.
    • Enjoy annual fee waiver with a minimum of 12 transactions per year.

    13.5% p.a. to 17.5% p.a.

    RM411.28

    • Comes with a worldwide recognition.
    • Comes with easy cash access locally and overseas with low withdrawal fee.
    • Get annual fee waiver with 12 or more transactions per year.

    13.5% p.a. to 17.5% p.a.

    RM137.80

    • Can be used for retail purchases and cash withdrawals.
    • Comes with no joining fee.

    13.5% p.a. to 17.5% p.a.

    RM137.80

    • Accepted for retail transactions worldwide.
    • Can be used to get emergency funds as cash locally and overseas.

    13.5% p.a. to 17.5% p.a.

    -

    • Can be used to access cash at low fees and for retail transactions.
    • Use the card 12 times a year and enjoy an annual fee waiver.

    13.5% p.a. to 17.5% p.a.

    -

    How Does Bank Islam’s Instalment Payment Plan Work?

    • Choose the instalment period for your purchase at participating merchants.
    • The bank verifies the bill of your purchase against the unused credit limit of your card.
    • The bank blocks the entire instalment payment amount at the time of application.
    • You make monthly payments over the course of the pre-decided repayment period.

    How Do You Apply for Bank Islam’s Instalment Payment Plan?

    You can apply for the IPP facility at any Bank Islam branch or get in touch with the bank through the following customer service numbers:
    • General line: +603-2088 8000.
    • Contact centre: +603-26 900 900.

    With Bank Islam’s Instalment Payment Plan, you can enjoy greater financial flexibility by converting all those large retail purchases into affordable monthly instalments. This way, you can ease your overall financial burden and plan your expenses better.

    What’s more? You won’t have to deal with any additional interest charges depending on the transaction amount and the repayment period you choose.

    Bank Islam Installment Payment Plan FAQs

    Q. What factors can possibly affect my IPP application?

    A. The factors that can affect your IPP application include the financing limit and stock availability.

    Q. What happens if I miss a monthly instalment of Bank Islam IPP?

    A. In such cases, you’ll be charged a profit rate that ranges between 13.5% p.a. and 17.5% p.a. These numbers are calculated on a daily basis.

    Q. Can I combine bills of multiple purchases to get the benefits of this facility?

    A. No, the transaction should be made in a single receipt as a purchase at any participating merchant outlet.

    Q. Do I have to pay the monthly instalment of this plan separately from the card’s monthly payment?

    A. No, your card’s monthly payment includes the monthly payment of this facility.

    Q. What are the other charges included in this facility, if any?

    A. The facility’s instalments will include Goods and Services Tax (GST).

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