CIMB Interest Free Installment Payment Plan
CIMB Bank offers a way to pay your CIMB credit card bills through their 0% instalment payment plan also known as the CIMB 0% i.Pay Plan.
Important Benefits and Features
- Convert large credit card purchases to interest-free, monthly instalments.
- Continue getting cash rebates on your card.
- Divide your payments over 5, 10, or 20 months.
- One-time processing fee (on the transaction amount).
- Single retail transactions ? S$500 are eligible for 5 or 10 months tenure (processing fee 3%).
- Single retail transactions ? S$1,000 are eligible for 20 months tenure (processing fee 5%).
- The maximum allowed amount per transaction is S$30,000.
How it Works
How your Payment Amount is Split
The total amount is split into instalments based on the tenure chosen by you. The processing fee is added to the first instalment.
The following example illustrates how different amounts are split over various tenures along with the respective processing fees. (Figures are used only for illustrative purposes. Actual amounts may differ.)
|One-Time Processing Fee
How your Instalments Have to Be Repaid
If the monthly payment is not settled by the due date, interest and/or other finance charges will apply as per the Terms and Conditions of your agreement.
- In case of early repayment or termination of the IPP or voluntary card closure, S$50 will be charged as administrative processing fee.
The following table shows the interest rates for the CIMB 0% i.Pay Plan.
||Effective Interest Rate (p.a.)
How to Apply for the CIMB 0% i.Pay Plan
- Evaluate your existing transactions and choose the ones that you want to convert to this plan.
- Call the CIMB Bank Card Centre on +65 6333 6666 to facilitate the conversion.