Why should I sign up for an Installment Payment Plan (IPP)?
Shop for your favorite things without breaking the bank! You can fulfill your wish list in small installments and 0% interest under the Bank Islam Installment Payment Plan (IPP).
Give me the details
With this IPP you only have to spend a minimum of RM150 to be eligible for the plan, with a repayment period of 3 months. Similarly, if you made a purchase of more than RM300 you have the repayment period of 6 months. This goes on to the maximum limit of RM1800.
The best part, these repayments are with 0% interest. That’s right no interest at all. Even with a tenure of up to 36 months. Say adios to that 18% p.a. that seems to always gets us down.
How does it work?
It’s pretty easy, be sure to make your payments with the minimum amount in a single receipt. Thereafter, just call the bank and have them convert your purchase under the IPP.
This plan is open to both principal and supplementary card holders. So even your loved ones can make purchases and have them converted into the plan.
Are there any T&C’s I should take note of?
Well yes, this plan works on the assumption that you make all your payments on time every time, with in the stipulated period. If payments are not made on time, then the condition falls and the outstanding balance is subject to a regular interest rate.
Also, this plan is only available for purchases that have yet to be billed. If they have already appeared on your statement, then you can no longer convert them.
So take advantage of 0% interest! Happy Shopping.