OCBC Interest Free Installment Payment Plan

OCBC offers two plans namely 0% Instalment Payment Plan (IPP) and PayLite to help you reduce your monthly credit card payments by splitting large purchases into smaller amounts and paying them over various tenures.

Key Features and Benefits

0% IPP

  • Zero-percent instalment plan for shopping at over 1,000 merchant outlets in Singapore.
  • Pay over tenures extending up to 36 months.
  • Get financial flexibility with smaller payments.


  • Interest-free monthly instalments.
  • Split your purchases into smaller instalments and pay them in tenures of up to 24 months.
  • Overseas, local, or online retail transactions having a minimum expenditure of S$100 per transaction are eligible.
  • Low one-time processing fee.

Current Benefits for PayLite Online Application (till 30 June 2018)

For single purchase transactions of S$500 or more get:

  • S$10 cashback for the 12-month tenure.
  • S$15 cashback for the 18-month tenure.
  • S$20 cashback for the 24-month tenure.

For purchase values of S$1,500 or more, get double the cashback.

How It Works

How your Payments are Split


Your purchases are split over the number of months in the tenure you choose. The following table is an illustration of how your purchase amount is divided. The one-time processing fee is calculated on the total amount and added to the first instalment.

Bill Amount S$2400 S$2400 S$2400 S$2400 S$2400
Tenure 3 months 6 months 12 months 18 months 24 months
One-Time Processing Fee (%) 3% 3% 5% 7% 9%
One-Time Processing Fee S$72 (S$2400x3%) S$72 (S$2400x3%) S$100 (S$2400x5%) 168 (S$2400x7%) 216 (S$2400x9%)
Monthly Instalment S$800 S$400 S$200 S$150 S$100

This illustration is only an example. Actual figures may differ due to the inclusion of Effective Interest Rates (EIR). Check with your bank for the exact figures.

How to make the Payments

0% IPP

  • The bank decides the amount to be paid for every instalment.
  • OCBC card credit limit will be reduced by the amount of purchase price that remains unpaid.
  • For any instalment remaining unpaid after the due date, finance charges, fees, and interest will apply.
  • Any termination or cancellation of the credit card account or the IPP before the full settlement of the purchase price is subjected to a S$150 administrative fee along with the full payment.
  • For any early repayment before an amount is due, the bank charges a fee at its discretion.


  • The purchase should have been made using your principal card or supplementary cards that are connected to your principal card.
  • Submit your application for PayLite at least 7 days before your payment is due.
  • Transactions that are converted into PayLite are not awarded Voyage Miles, Titanium Bonus Miles, ROB$, or OCBC$.
  • All dues must be settled on or before their respective due dates. Failure to do so will attract finance charges and interest as applicable.
  • A $S150 administrative fee will be charged for early repayment, termination of your card account and/or PayLite, or for changing the PayLite tenure.
  • PayLite does not apply to Cash Advances, Bank Fees and Charges, Balance Transfer, Cash-on-instalment transactions, 0% IPP transactions, and other non-retail transactions that the bank may determine.

Interest Rates

The following table shows the EIR for PayLite.

Repayment Period Effective Interest Rate (p.a.)
3 months 18.18%
6 months 10.43%
12 months 9.50%
18 months 9.23%
24 months 9.15%

How to Apply

0% IPP

Apply directly to the bank via the required form.


Online Banking: Login to your online banking account using your access code and PIN. Follow the instructions given by the bank to send in your application.

Submit your form online: Complete the required form giving your NRIC or Passport details and other specifics, and submit it online.

Call the bank: Call the OCBC in Singapore on their toll-free number - 1800 363 3333.

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