29th September 2026 - 4 min read
Bank Muamalat is running a home furnishing promotion on its Instalment Payment Plan (IPP), which lets you pay for furniture, home décor and renovation purchases over 6 or 12 months at 0% profit. It’s open to principal holders of any Bank Muamalat Credit Card-i, including the Muamalat EON, Pos Malaysia and AmanahRaya co-brand cards. The bank hasn’t given an end date for the promotion.
The promotion is aimed at furniture buyers, but the IPP terms and conditions (updated 21 May 2026) cover any retail purchase that meets the minimum spend, so a new laptop or a washing machine qualifies too.
Each tenure has its own minimum spend, and it has to be on a single receipt.
| Instalment Tenure | Minimum Spend (Single Receipt) | Profit Rate |
| 6 months | RM500 | 0% p.a. |
| 12 months | RM1,000 | 0% p.a. |
| 18 months | RM1,000 | 4% p.a. |
| 24 months | RM1,000 | 4% p.a. |
The 4% p.a. applies to the Bank Muamalat Visa Platinum-i and Visa Infinite-i.
A RM600 coffee table and a RM500 rug paid for separately won’t qualify for 12 months, because neither receipt reaches RM1,000. If you’re buying several pieces from the same shop, ask them to put everything on one receipt.
Take a RM4,800 sofa set and dining set, bought on one receipt. This is what you’d pay each month.
| Tenure | Monthly Instalment | Total Profit Paid |
| 6 months | RM800 | RM0 |
| 12 months | RM400 | RM0 |
| 18 months | RM282.67 | RM288 |
| 24 months | RM216 | RM384 |
The 4% p.a. is a flat, one-time charge worked out on the full RM4,800 for the whole tenure, even though you’re paying some of it back every month. By our calculation, that’s the same as paying about 7.4% p.a. over 18 months and 7.5% p.a. over 24 months on a balance that goes down as you pay (the effective rate).
Bank Muamalat won’t charge a fee if you settle early, but it won’t refund the profit charge either. Pick 24 months “just in case”, pay it off in 10 months, and you still pay the full RM384 profit.
You pay with your card as usual, then apply online through Bank Muamalat’s IPP application page. Wait until the purchase shows up on your card account and at least three days have passed. Then make sure you apply at least three days before your next statement date. Unless you shop right before your statement date, that gives you plenty of time. If your statement date passes first, the purchase stays a regular card transaction.
Your available credit limit goes down by the full purchase amount straight away. It goes back up each month by the principal, the part of your instalment that pays off the purchase itself. On the 18- and 24-month plans, the profit part doesn’t count towards this. Charge RM4,800 to a card with a RM10,000 limit and you’ll have RM5,200 left for everything else.
The purchase also has to fit within your usual credit limit. A temporary limit increase, or extra credit from an overpayment or refund, can’t be used for IPP.
Each month’s instalment is added to your minimum payment, on top of 5% of your statement balance. Miss an instalment in full and you’ll pay profit on the outstanding balance plus late payment compensation.
This promotion suits you if you already hold a Bank Muamalat Credit Card-i, you’re making purchases of at least RM1,000 per receipt, and you can pay the full amount off within 12 months. If you already have the cash, paying in instalments lets your savings keep earning a little interest for another 12 months.
Bank Muamalat doesn’t mention any processing fee for the IPP. Some 0% instalment plans do charge one, and we’ve covered those costs in why your 0% easy payment plan can still cost you money.
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Christina writes about personal finance with an eye for making the complicated feel straightforward. She is drawn to the everyday money decisions people face and genuinely enjoys finding the clearest way to explain them. Between articles, she is probably napping, on a hiking trail, or terrorising her sister’s cats.
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