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Credit Card IPP Plan
Ocbc bank crebit cards intallments plan
OCBC Bank offers an Installment Plan for its credit cardholders, allowing them to convert their purchases into monthly installments for easier repayment. This feature is commonly known as OCBC Monthly Installment Plan or OCBC FlexiPay.
Here's how it works:
Key Features of OCBC Credit Card Installment Plan:
- Eligible Purchases: You can convert both in-store and online purchases made using your OCBC credit card into monthly installments.
- Flexible Tenure: Choose a repayment period that suits you, typically ranging from 3 to 12 months, depending on the purchase amount and the terms offered.
- Low-Interest Rates: The installment plans often come with competitive interest rates, which are generally lower than regular credit card interest rates.
- No Processing Fees: For some plans, there might be no upfront processing fees for converting your purchases into installments.
- Instant Conversion: For certain purchases, you can convert them into installments immediately through OCBC's mobile banking app or website.
- Eligibility: You must be an OCBC credit cardholder with a good credit history to qualify for the installment plans. Approval depends on your credit limit and the type of purchase.
- Monthly Payments: Once converted, you’ll make equal monthly payments for the duration of the plan, which will be added to your credit card statement.
- Promotions: OCBC may also offer special promotions or 0% interest installment plans for specific retailers or during certain periods.
How to Use:
- Via Mobile App or Internet Banking: After making a purchase, you can log in to the OCBC mobile app or internet banking to convert the payment into an installment plan.
- At Point of Sale: Some merchants allow you to choose the installment option at the time of purchase, and the bank will process it for you.
For specific details about interest rates, terms, or how to apply, you can check with OCBC directly or visit their website.
Just remember: There's a 4% transaction fee for using credit cards payments , so keep that in mind while budgeting.
*corresponding fees apply
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