Instalment plans allow credit cardholders to make purchases and pay for the same over a period of time in monthly instalments. In this case, cardholders have to pay an interest on their instalments. To make purchasing easy for their cardholders and to cut down their costs, Maybank offers instalment payment plans which have 0 percent interest rates. The plans are called Posh EzyPay and EzyPay.
To apply the payment plans on any of their transactions, cardholders have to purchase a product worth SGD500 or more from a participating merchant. Some of these merchants are –
- For Posh EzyPay plan – Bally, Burberry, Car Shoes, Chloe, Dolce & Gabbana, Gucci, Hermes, Louis Vuitton, Hugo Boss, Valentino, Giorgio Armani, etc.
- For EzyPay plan – The merchants are divided into different categories in this plan such as Bridal, Electronics, Beauty and Wellness, Computer Products, Cars, Education, Health and Fitness, Travel, Lifestyle, etc.
Key Features and Benefits
- Maybank credit cardholders do not have to pay any interest on their instalments, if they use the Posh EzyPay plan
- The administrative fee charged by the bank for this plan is very low
- Cardholders can choose to pay for their purchases in 3 to 6 months instalments
- If credit cardholders apply for the EzyPay payment plan of Maybank, they do not have to pay any interest on their instalments
- The plan offers flexible instalment tenures, starting from 6 months to maximum 36 months
- All the credit cardholders of Maybank can apply for the Posh EzyPay plan
- Maybank World MasterCard credit cardholders, who have received 10x TREATS Points, are not eligible to apply for this plan
- Anyone who has a Maybank VISA or MasterCard credit card is eligible to apply for the EzyPay plan
How to Apply?
To apply for the MayBank Posh EzyPay plan, Maybank credit cardholders have to do the following –
- Make a purchase of minimum SGD500 at any participating luxury brand boutiques
- Wait to get the credit card statement that has the details of the transaction for which they wish to initiate the Posh EzyPay plan
- Download the application form of the plan from the bank’s website
- Submit the form via fax within 10 days of receiving the credit card statement
To apply for the Maybank EzyPay plan, cardholders have to fill an Order Form or sign a charge slip that they receive from the bank’s EzyPay terminal.