What can I get from AmFlexi-Pay?
You can swap out horrendous credit card bills and high-interest rates for smaller monthly instalments at a one-time interest rate of as low as 3% p.a. only.
The plan offers tenures from as short as 6 months up to 24 months with a minimum cumulative retail transaction amount of RM500.
Why should I get this plan?
You are in luck if you apply for the AmFlexi-Pay plan because you will only need to pay a one-time interest/management fee, which is calculated upfront on the conversion amount and billed equally over your selected tenure.
If you're still unsure of the mechanism, see the below example for a better understanding:
Say your statement date is on the 6th of May and the purchase transaction date is on the 16th of April, you need to inform the bank at least 5 days after the transaction date to allow for the transaction to be reflected on your statement.
Or, you can also drop AmBank a call, email, or SMS latest by the 1st of June (which is 5 days before the next statement date, i.e. 6th of June) to participate in this flexi payment plan.
Can supplementary cardholder(s) apply for this flexi-pay?
Both principal and supplementary cardholders can apply for this plan, subject to fulfilling the terms and conditions prescribed and also approval by AmBank.
What if I cancel during the tenure?
AmBank will not hesitate to debit RM50 from your account for any early settlement that occurred within the instalment tenure (except for AmBank M-Card). There will also be no refund of interest/management fee for early settlement or cancellation.
Keep in mind that you are not allowed to switch tenure once the transaction has successfully been converted to a monthly instalment.