8th September 2026 - 3 min read
Bank Muamalat is running two Instalment Payment Plan promotions on its Visa Credit Card-i, one for Umrah travel and another for holidays. Both allow eligible cardholders to split a single purchase into monthly payments over six or 12 months without any profit charge. Neither promotion page states a closing date.
The Umrah and Holiday promotions are the same offer under two names. Both run on the Instalment Payment Plan, with identical tenures, minimum spend, and charges. A purchase of at least RM500 on a single receipt can be converted into a six-month instalment plan, while purchases of at least RM1,000 can be spread over 12 months.
Both tenures come with no profit charge. The promotion is available only to principal cardholders of a Bank Muamalat Visa Credit Card-i and applies to retail purchases generally, not only to travel bookings. Cash withdrawals, annual fees, and existing outstanding balances are not eligible.
The promotion pages only advertise the six- and 12-month options. However, the full terms and conditions show that the Instalment Payment Plan also offers 18- and 24-month tenures, which carry a profit charge of 4% a year. The charge is worked out upfront and covers the full tenure, so a longer plan costs more in total.
Bank Muamalat’s example shows how the charge works. A RM3,600 purchase converted to a 24-month plan would incur a RM288 charge, bringing the total to RM3,888, or RM162 a month.
Because the charge is calculated upfront, you will not be charged a fee for settling early, but you will not get any of the profit charge back either. Clearing that RM3,600 plan after one year instead of two would still mean paying the full RM288, so there is no saving in paying it off sooner.
This does not apply to the six- and 12-month promotional tenures, which come with no profit charge.
If you want to convert a purchase into instalments, you need to apply through Bank Muamalat’s online form and provide the transaction details.
The conversion window starts three days after the purchase and ends on your next statement date. Purchases submitted outside this window will not be converted and will remain as regular card transactions, with the usual profit charges applying to any unpaid balance.
Full details of each promotion, including the terms and conditions, are available on Bank Muamalat’s Umrah instalment plan page and holiday instalment plan page.
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As a creative content writer, Eloise has covered finance, business, lifestyle topics, and even moonlights as a singer-songwriter outside of RinggitPlus. Her current interests are learning the best ways to optimise spending and credit card hacks to gain more airline miles.
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