Why You Should Use Your Credit Card for EPP in Malaysia
Financial literacy is rising among Malaysians. Now more than ever, Malaysian consumers are shopping smarter. As a response, businesses actively look for ways to make spending appealing to price-conscious consumers.
The solution to this issue? Easy Payment Plan (EPP).
This payment option is a smart way for consumers to shop without the burden of high upfront costs. For Malaysian consumers, utilizing a credit card for EPP, such as those offered by RHB Malaysia, provides flexibility, affordability, and financial management advantages.
Still not convinced? Then, we’ll explain to you why EPP is an excellent payment option and how you can maximise your benefits with RHB credit cards/-i.
What is an Easy Payment Plan (EPP)?
An Easy Payment Plan (EPP) is a financial service provided by credit card issuers. Allowing you to break down the large cost of a high-ticket item into smaller, interest/management fee-free instalments.
EPP offers a flexible repayment/payment period, typically ranging from 6 to 24 months. Giving you ease in managing your spending without the strain of lump-sum payments or high-interest loans/high-profit rate financing.
If this sounds amazing to your price-conscious mind, then you should know that RHB credit cards/-i are well-known for their excellent EPP options.
Why Use Your Credit Card for EPP in Malaysia?
Affordability
With an EPP, you can break down large purchases into manageable, 0% interest / management fee instalments. This means you won’t need to worry about racking up interest/management fees, as long as you make timely payments.
Convenience
Converting your transactions to EPP is seamless. When you’re about to purchase, simply choose the EPP option, and the cost is automatically split into monthly instalments with 0% interest / management fee! But make sure you’re shopping with participating merchants.
Rewards and Cashback
Besides a flexible payment scheme, using RHB credit cards/-i for your EPP can earn you rewards and cashback. For example, RHB's Smart Instalment Payment Plan has campaigns that offer instant cash rebates when you purchase from participating vendors. This is especially beneficial for frequent shoppers looking to get more value from their purchases.
No Hidden Fees
Unlike some financial products, EPP comes with no hidden fees—as long as you make your payments on time. Ensuring a transparent, worry-free payment method for you.
Exclusive RHB EPP Offers
You’ll find a variety of promotional campaigns with EPP options at RHB Malaysia. This includes instant rebates for purchases at selected merchants, covering categories such as electronics, health & wellness, home furnishings, and confinement centres.
Key categories where EPP gets you the most benefit:
- Electronics (e.g., purchasing a new smartphone or laptop)
- Healthcare services
- Home furnishings
How to Maximise the Benefits of EPP
Choose the right repayment/payment term
Depending on your financial capability, you can select a shorter or longer instalment period. Shorter terms allow you to clear your balance faster, while longer terms lighten your monthly payment burden.
Keep track of payment deadlines
Set yourself a timely reminder for your monthly instalments. For the sake of your financial future and peace of mind, avoid any late fees. They can rack up quickly without notice!
Combine EPP with cashback benefits
Some cashback credit cards allow you to earn rewards while enjoying the benefits of EPP. By combining these, you can maximise your savings and rewards.
Is EPP Better Than Regular Credit Card Payments?
It is no contest. Between EPP and carrying a balance on your credit card, EPP wins.
If you’re unable to pay the balance in full, monthly, regular credit card payments build interest / management fee over time. The interest charge/management fee isn’t a laughing matter. Many credit card owners live stressful lives burdened by interest.
When you opt for an EPP, you avoid interest / management fees entirely. You only pay the price of purchase in small instalments. Without a doubt, it’s a financially sound choice.
Compared to personal loans / financing-i, EPP is simpler and does not come with any hidden charges. This proves, again, the value of RHB's EPP options for price-conscious consumers.
Get More Shopping Value with Instant Rebates
With RHB’s current promotions, including instant cash rebate, you can get even more value when making purchases in specific categories like electronics, home appliances, and health.
To be eligible, all you need to do is spend the minimum threshold at participating outlets. Automatically, you get rebates that provide more value for every ringgit you spend.
How to Apply for RHB EPP
Setting up an EPP with your RHB credit card is easy. Follow these steps to activate EPP when you purchase:
- Select your item and proceed to the checkout.
- Request the Easy Payment Plan with your RHB credit card.
- Choose your preferred instalment period (e.g., 6, 12, or 24 months).
- Confirm your transaction and start enjoying your purchase with manageable monthly payments.
Conclusion
Using an Easy Payment Plan (EPP) through your credit card, particularly with RHB Malaysia, is a smart way to make large purchases more manageable. EPP offers a range of benefits for financially responsible shopping. Providing you with 0% instalments, cash rebates and more.
Explore RHB’s latest EPP offers today and spend with complete ease of mind!