There are some expenses that we just do not want to pay for with hard cash. However, we do want to make the purchase, so check out a good easy payment plan to help ease up your savings account and save you money at the same time.
How do I spend money and save money?
Well charging something to your credit card means that there is usually an interest imposed on the amount that you pay. More often than not, people end up paying 18% interest on their credit card bills all the time.
However, when you sign up for a 0% Easy Payment Plan (EPP), especially this one from AmBank, you not only can break up the repayment for the item you bought but also not be charged with paying any interest.
Does it apply to all merchants or products?
Previously, when you spend with your AmBank or AmBank Islamic credit card, you can only convert electrical purchases into an EPP.
Now, and interestingly, you can enjoy a 0% instalment on purchases made at AmBank's participating merchants, subject to terms and conditions.
How does it work?
That’s the easy part. Check out the list of merchants that this plan applies to before you decide to go shopping. After you’ve made a purchase of RM500 or more, simply drop a call to AmBank, give them your purchase details and have them convert your purchase under the 0% EPP.
Then pick a repayment period that works for you. Upon approval, you’ll see the first instalment in your next statement.
Is there a catch?
Nope. You should keep in mind that you need to call the bank ASAP after you’ve made your purchase.
The plan will only apply to unbilled or un-statemented purchases. Lastly, please take note that if your payments are not made on time and in full, or if you do not complete the repayment within the stipulated time, your balance will be subject to the regular 18% interest per annum.
Can I terminate the instalment plan?
You may do so by calling AmBank's customer service at 03 2178 8888 or email to [email protected]