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Bank Islam RSVP Program

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The Retail Spread Value Plan (RSVP) is a common feature of all Bank Islam credit cards. With this facility, you can convert large retail spends into affordable monthly payments at 0% interest for a tenure of your choice.

Features of Bank Islam RSVP Program

  • Convert retail purchases worth a minimum of RM1,000 made at select merchant outlets into affordable instalments.
  • Only retail spends done as a single transaction can be converted into interest-free monthly instalments.
Instalment Tenure One-Time Handling Fee Minimum amount (per transaction)
6 Months 4.77% RM1,000
9 Months 4.77% RM1,000
12 Months 4.77% RM1,000

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

List of Credit Cards Featuring the Bank Islam RSVP Program

Credit Card
Key Benefits
Profit Rates
Annual Fees
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No compounding interest charges

Complimentary travel Takaful cover

Free access to selected Premium Lounges across Malaysia and Singapore thrice a year

20 days interest-free period

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

Waived for the year if you complete a minimum of 12 transactions during the year.

Complimentary access to select Plaza Premium Lounges thrice a year

Up to RM2 million travel Takaful cover

Purchase protection Takaful plan up to RM10,000

20 days interest-free period

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

Waived for the year if you complete a minimum of 12 transactions during the year.

No compounding interest charges

Complimentary travel Takaful cover

Free access to select Premium Lounges across Malaysia and Singapore thrice a year

20 days interest-free period

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

Waived for the year if you complete a minimum of 12 transactions during the year.

Payment of Zakat through auto-debit, standing instructions, EDC terminal and internet banking

Complimentary travel Takaful cover up to RM1 million

20 days interest-free period

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

Waived for the year if you complete a minimum of 12 transactions during the year.

1x point for every RM1 spent on retail transactions

40% discount on will writing fees

20 days interest-free period

Complimentary travel Takaful cover

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

Waived for the year if you complete a minimum of 12 transactions during the year.

Complimentary travel Takaful cover up to RM1 million

Payment of Zakat through auto-debit, standing instructions, EDC terminal and internet banking

20 days interest-free period

Complimentary flight travel inconveniences benefits

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

Waived for the year if you complete a minimum of 12 transactions during the year.

Fixed profit margin for the entire tenure

Latest smart chip technology

Payment of Zakat through auto-debit, standing instructions, EDC terminal and internet banking

24-hour customer service team

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

Waived for the year if you complete a minimum of 12 transactions during the year.

Fixed profit margin for the entire tenure

Latest smart chip technology

Payment of Zakat through auto-debit, standing instructions, EDC terminal and internet banking

24-hour customer service team

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

Waived for the year if you complete a minimum of 12 transactions during the year.

Fixed profit margin for the entire tenure

Latest smart chip technology

Payment of Zakat through auto-debit, standing instructions, EDC terminal and internet banking

24-hour customer service team

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

Waived for the year if you complete a minimum of 12 transactions during the year.

Fixed profit margin for the entire tenure

Latest smart chip technology

Payment of Zakat through auto-debit, standing instructions, EDC terminal and internet banking

24-hour customer service team

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

Waived for the year if you complete a minimum of 12 transactions during the year.

How Does the Bank Islam RSVP Program Work?

Make a minimum retail purchase of RM1,000 in a single receipt at any terminal or merchant outlet that’s not acquired by Bank Islam. Notify the bank of your interest in opting for the RSVP Program by calling the customer service team.

If your transaction meets the eligibility criteria and is approved, you’ll be charged a one-time handling fee along with the first scheduled monthly instalment on your next statement.

How Do You Apply for the Bank Islam RSVP Program?

You need to notify Bank Islam of your transaction through telephone within 3 days of purchase date and before the next statement date. Your transaction will not be eligible for the RSVP Program if you do not inform Bank Islam on time.

Although the RSVP Program is applicable for transactions made by all cardholders, the principal cardholder alone can authorize an application or conversion request.

Your shopping spends won’t weigh down heavily on you anymore. With Bank Islam’s RSVP Program, all your large retail purchases can be split into interest-free monthly instalments. You also have the option of choosing a repayment period that fits your needs.

You’ll invariably end up planning your finances and even your shopping spends better with Bank Islam’s RSVP Program.

FAQs on Bank Islam RSVP Program

Q. Is this plan available on all transactions?

A. No. This plan is available only on retail transactions. Other transactions such as cash withdrawals, balance transfers, instalment purchase transactions, or any other instalment schemes aren’t eligible for this facility.

Q. When should I pay the one-time handling fee?

A. The one-time handling fee would be charged in the same month of your RSVP approval. It will reflect on the statement of the same month. You need to pay the charge along with your scheduled monthly instalment.

Q. Can I settle off my RSVP instalment early?

A. Yes. You can settle your RSVP instalments before the end of your tenure.

Q. Do I need to pay any early settlement fee if I pay my RSVP instalment early?

A. No. You will not be charged any early settlement fee for this plan.

Q. Will I get any refund if I settle early?

A. No. Your profit charge won’t be refunded in case of early settlement.

Q. What should I pay each month for this plan?

A. You are recommended to pay your RSVP monthly instalment amount along with your minimum monthly payment, which is 5% of your outstanding balance or RM50, whichever is higher.

Q. Can I apply for RSVP more than once?

A. Yes. You can apply for RSVP more than once on your card.

Q. On what number should I contact Bank Islam for the RSVP Program?

A. You can call Bank Islam’s representatives on 03 2726 7799 or 03 2690 0900.

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