Shop interest free and avoid having a credit card bill sky high. With the BSN Instalment-Payment Plan, you get to buy what you want, when you want it and only get charged a one-time upfront interest. So, say goodbye to that pesky 18% p.a.
How does this work?
The next time you decide to make a purchase, of at least RM500 or over, in a single receipt, keep that receipt. Drop a call to BSN either three days after the date of purchase or before your next statement, whichever is earlier.
Have them convert your purchase for you over the phone. Select the repayment tenure you are comfortable with either 6, 12 or 24 months, and you’re good to go.
Repayment tenures are dependent on how much you spend. So, keep in mind that for purchases of less than RM1000 you are limited to a 6-month instalment plan. For purchases below RM2,000, you can choose between 6 months and 12 months for your repayment.
Lastly, for purchases of more than RM2000, you are able to choose between a 6-month, 12-month and 24-month installment plan.
What about the upfront interest?
The one-time upfront interest is based on the tenure you choose. For a 6-month tenure your interest is 3%, for a 12-month tenure the interest rate is at 4% and for a 24-month tenure the interest is only at 5%.
Keep in mind that they are only charged once on the overall amount. After that, your monthly instalments will be at 0% interest.
This easy payment plan is subject to BSN's terms and conditions. One thing you need to keep in mind, this plan will only work when you make your payments, in full on time. Late payments will result in a regular interest rate being charged.