Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
  • Easy Payment Plans

    Easy payment plans available on credit cards allow you to convert your retail purchases into easy and affordable monthly instalments. Most banks in Malaysia offer easy payment plans on their credit cards. These plans come with a flexible range of payment tenures where some plans allow you to choose a tenure of your preference.

    The interest rates for easy payment plans differ with each bank. Some banks offer 0% interest for a short tenure, and a low interest rate for a longer tenure. At times, banks even offer different types of easy payment plans on each card.

    Each bank would have a list of participating merchant outlets for easy payment plans. You would be able to apply for these plans only for retail transactions made at any one of those participating merchants. There would be a specific time period within which you need to apply for this plan after you make your purchase. Some banks also allow you to settle any outstanding dues under these plans before the maturity date.

    Benefits:

    • Convert your purchases at participating merchants into affordable monthly instalments.
    • Choose from a wide range of tenure available with these plans.
    • Pay a low interest rate instead of the finance rate attached to your card.
    • Maximise your savings by paying less interest.

    Easy Payment Plans Malaysia 2018

    Payment Plan
    Minimum and Maximum Tenure
    Interest Rate
    Minimum Amount
    Know More

    Minimum: 3 months Maximum: 24 months

    0% p.a.

    RM500

    Minimum: 3 months Maximum: 36 months

    0% p.a.

    RM500

    Minimum: 3 months Maximum: 36 months

    0% p.a.

    Differs for each merchant outlet

    Minimum: 6 months Maximum: 36 months

    0% p.a.

    Differs for each merchant outlet

    Minimum: 6 months Maximum: 24 months

    0% p.a.

    RM1,000

    Minimum: 6 months Maximum: 18 months

    2% to 4% p.a.

    RM500

    Minimum: 6 months Maximum: 36 months

    0% p.a.

    RM500

    Minimum: 3 months Maximum: 36 months

    0% p.a.

    RM150

    Terms and Conditions:

    • All payment plans come with a minimum amount requirement.
    • Plans are available only at participating merchants.
    • Banks may charge a one-time maintenance fee for these plans.
    • Purchases should fulfill the minimum amount requirement in a single receipt.
    • Tenure chosen during application cannot be changed.

    How to Use Easy Payment Plans

    • Go through the list of participating merchants.
    • Shop at these participating merchant outlets with a minimum convertible amount using your credit card.
    • Apply for the easy payment plan at the merchant outlet.
    • Choose your payment tenure from the available tenure according to your repayment capacity.

    FAQs

    Q. Can I settle the easy payment plan before the tenure ends?

    A. Yes. You can settle the payment plan before maturity date. You need to pay any outstanding dues immediately.

    Q. Is there a penalty charge for early settlement?

    A. Some banks charge an early settlement fee and some don’t. Any early settlement fee if applicable would vary from bank to bank.

    Q. Can I use the easy payment plan for online transactions?

    A. Yes. You can convert your online purchases into an instalment plan.

    Q. What will happen if I miss paying the monthly instalment on the easy payment plan?

    A. If you miss a payment, you will be charged an interest fee equal to the retail finance charges/interest rates imposed by the bank.

    Q. How can I apply for this facility?

    A. You can apply for this facility by contacting the bank via its customer service number or by sending in an online request.

    Q. What factors can affect my application for this plan?

    A. The approval of your application depends on whether you meet any minimum requirement imposed by the bank and whether you have sufficient available credit on your card.

    Q. Can I combine bills of multiple purchases to meet the minimum amount requirement?

    A. No. You should present the bill in a single receipt to enjoy the benefits of this facility.

    Take Advantage of Easy Payment Plans

    Easy payment plans can help you save money and manage your card bills easily. There are a number of plans that come with a 0% interest rate and allow you to choose from a wide range of payment tenures. Take advantage of the zero-interest plan to manage your finances. Pay the monthly instalment amount on time and in full to not incur any extra charges.

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