HSBC

HSBC Balance Conversion Plan

Shop to your heart's content with HSBC credit card and convert your purchases into affordable instalment up to 36 months from two BCP plans

    • Up to 36 months
    • Unrestricted selection of merchant
    • No early termination fee
  • Instalment PeriodInterest RateMinimum Amount
    6 months2.88% one-time upfront handling feeRM500
    12 months2.88% one-time upfront handling feeRM500
    24 months2.88% one-time upfront handling feeRM500
    36 months2.88% one-time upfront handling feeRM500

    How To Apply for HSBC Balance Conversion Plan

    Get help with making your expensive shopping habits affordable

    Enjoy low monthly commitment and flexible payment tenure in 3 simple steps:

    1) Spend a minimum of RM500 in a single receipt with your HSBC credit card;

    2) Apply for Balance Conversion Plan via online 3 days after purchase or 3 days before your next statement date;

    3) Choose to convert whether full retail amount (Type A) or partial retail amount / entire outstanding retail balances (Type B)

    Your BCP application will be processed within 3 working days form the application date.

    Frequently Asked Questions about HSBC Balance Conversion Plan

    Things you might want to know

    How HSBC Balance Conversion Plan works?

    HSBC Balance Conversion Plan (BCP) is no ordinary instalment plan you can find in the market because, on the one hand, it works as a flexi payment plan as well as a balance conversion plan, on the other hand.

    You can choose to repay your instalments over a payment period of 6, 12, 24 or 36 months. To qualify, you need to, (1) own a HSBC credit card, then (2) make a minimum retail transaction of RM500 and finally, (3) apply for this balance conversion plan.

    What are the types of flexi instalment plans being offered?

    As said earlier, you have 2 options under HSBC Balance Conversion Plan:

    • Type A Conversion Plan: a straightforward spend and convert method where you swipe your HSBC credit card on eligible retail transactions and convert the full amount into a BCP 
    • Type B Conversion Plan: choose to convert partial eligible transactions and/or entire outstanding retail balances in your HSBC credit card into a BCP

    However, a small footnote here, you don't have the freedom to lock in the interest rate on the converted amount. This will be decided by HSBC, at its discretion, whether to compute it on a one-time upfront interest at 2.88% p.a. or on a reducing balance method at 6.88% p.a..

    Can HSBC Amanah cardholders apply for this flexi instalment plan?

    Unfortunately no. HSBC Balance Conversion Plan is only offered to the holders of conventional HSBC credit cards.

    Is it okay to settle my flexi instalment plan early?

    It is absolutely fine, as long as you notify HSBC of your early exit prior to making the full payment. Otherwise, it will not be recognized as an early settlement amount, instead will be utilized as 'standby credit' to offset your upcoming dues.

    You can either write or drop a line to HSBC call centre to execute the early settlement.

    What happens if I do not make a full payment every month?

    If you are not able to commit to the full amount of your BCP monthly instalment, it is advisable that you make a minimum payment of 5% of the outstanding balance before or on the statement date. 

    If and only if you really can't make it, you can call the bank and discuss an alternative before it is too late.

    Read More

    Apply online now for HSBC Balance Conversion Plan

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