Who can apply for the UOB Easi-Payment Plan?
The flexi payment plan is open to both principal and supplementary cardholders of UOB credit cards, subject to terms and conditions.
How does the flexi payment plan work?
Flexi payment, or in other words an easy payment plan, is a value-added service for UOB credit cardholders that offers the convenience of making repayment of your used credit in monthly instalments.
To put it simply, when you apply for an easy payment plan, you can break down the large payment made using your UOB credit card into monthly instalments from 3 months up to 60 months, instead of within 21 days of an interest-free period.
What is the minimum amount I can transfer?
The minimum amount you can transfer is RM500. Bear in mind that only retail transactions are allowed to be converted into a flexi payment plan.
Can I make a minimum monthly payment and what are the consequences?
If you're not able to make a full payment on or before the credit card statement date, you are allowed to make a minimum monthly payment of 5% of the total outstanding or RM50, whichever is higher.
This practice is, however, not encouraged as it will attract an unnecessary finance charge of 18% p.a. on the outstanding balance, calculated daily until it is fully repaid.
Can I cancel my flexi payment application?
You may want to change your mind at any point in time, and it is okay to cancel. But you will need to provide UOB Malaysia with written notice or verbal notice before the next monthly Statement of Account is generated.