Some of us cringe at the thought of spending large sums of money, especially cash out of our savings account. Then again, there is sometimes that one new thing that you just need to buy, like a new phone or the latest pair of Yeezy’s.
The solution is to card it! However, here’s a way to both treat yourself and not build up a credit card bill that will break the bank.
Tell me about this sorcery
The Hong Leong Extended Payment Plan, offers 0% interest, on repayment periods of up to 36 months, with no handling fee. That’s right, you can make purchases from a minimum of RM500 and pay absolutely no interest!
You can choose a repayment tenure from 3 months up to 3 years. The best part is, you may not even have to touch your savings.
How does it work?
First of all, this is a plan for both primary and supplementary card holders. Now for this plan to be applicable to you whatever purchase you make needs to be at or over RM500 in a single receipt.
You also might want to check out the list of Hong Leong Bank’s participating merchants, keep in mind that this payment plan only applies to merchants on that list.
All you need to do is, drop a call to Hong Leong bank after your purchase has been made, and have them convert it into the Extended Payment Plan and choose a tenure. Upon approval, you will see the first installment in your next statement.
That’s it, easy as pie.
Are there any conditions to meet?
Well you might want to have a good credit score, this will decrease the chances of your application being rejected.
Another thing, it is really important that you make your payments on time. The condition for the 0% interest is provided you make your payments within a stipulated period. If not, a regular interest of 18% will be charged.
So, stick to a schedule and keep the savings from running dry.