Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
  • Credit Card BYTES FROM OUR KITCHEN

    HSBC Cash Instalment Plan

    The features and benefits of Cash Instalment Plan (CIP) by HSBC are as follows:

    • The interest rate on the cash advance amount is 6.88% per annum.
    • The application process is easy and no supporting documents will be required to submit.
    • The repayment period offered are flexible and you can choose from either 12, 24, 36 48 or 60 months with an EMI option.
    • The funds will be conveniently transferred to your current or savings account at any bank.
    • For Cash Instalment Plan amount ranging from RM1, 000 to RM4, 999, you will be charged one-time cash advance fee of 2% on the amount. You will also not get any reward points.
    • For Cash Instalment Plan amount above RM5, 000, you won’t have to pay any advance fee and you will also get 10,000 Reward Points.
    • Your monthly repayment amount is lower. The monthly repayment is illustrated below:

    CIP amount at 6.88% per annum

    Monthly repayment

    12 months

    24 months

    36 months

    48 months

    60 months

    RM5,000

    RM445.33

    RM237

    RM167.56

    RM132.83

    RM112

    RM10,000

    RM890.67

    RM474

    RM335.11

    RM256.67

    RM224

    RM15,000

    RM1,336

    RM711

    RM502.67

    RM502.67

    RM336

    The interest is calculated on a flat interest rate basis. It is equivalent to 12.47% per annum for 12 months.

    • The new HSBC Credit Card holder can enjoy easy cash instalment plan rate at 4.88% per annum at the discretion of the bank. 8.89% per annum for 12 months, 9.11% per annum for 24 months, 9.10% per annum for 36 months, 9.03% per annum for 48 months and 8.95% per annum for 60 months. The monthly repayment is illustrated as follows:

    CIP amount at 6.88% per annum

    Monthly repayment

    12 months

    24 months

    36 months

    48 months

    60 months

    RM1,500

    RM131.10

    RM68.60

    RM47.77

    RM37.35

    RM31.10

    RM5,000

    RM437

    RM228.67

    RM159.22

    RM124.50

    RM103.67

    RM10,000

    RM874

    RM457.33

    RM318.44

    RM249

    RM207.33

    How to apply for HSBC Cash Instalment Plan

    If you want to avail the HSBC Balance transfer facility, follow the following basic steps:

    • Fill up the online application form, wherein your basic details, credit card number, contact details and the amount that you need to be transferred will be included.
    • Transfer process will be initiated after all the details are verified and when the term and conditions are communicated to you.
    • The balance will be transferred in 10 business days from the date of approval of the application of balance transfer. If your application is being rejected, then you will be notified within 15 days from the receipt of the balance transfer application.

    FAQ’s of HSBC Cash Instalment Plan

    Q. Who is eligible for the HSBC Cash Instalment Plan?

    A. This plan is available to the current HSBC Credit cardholder and new HSBC Credit cardholder.

    Q. What is the maximum amount that can be transferred?

    A. The maximum amount allowed is up to a limit of 95% of the available HSBC Credit card limit of the cardholder.

    Q. What is the minimum amount allowed to be transferred to HSBC Credit Card?

    A. The minimum amount that can be transferred is RM1, 000.

    Q. Should I be making any minimum payment?

    A. Yes, the eligible cardholder must make a minimum payment of 5% on his HSBC Credit Card outstanding balance.

    Q. Can the term and conditions be changed at any time?

    A. Yes, HSBC reserves the right to change the terms and conditions and also with 3 days prior notice.

    Q. Will I get reward points on my card if I opt for HSBC Cash Instalment Plan?

    A. Yes, you will earn 10,000 reward points on your card if you have opted for CIP for amount above RM5, 000. If you are taking a CIP for amount below RM5, 000, you will not be entitled to the reward points.

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