Please be informed effective 2nd October 2019, all Cardholders with instalment plan are required to pay the monthly instalment amount in full as part of the Minimum Payment Due as specified in the credit card statement. This is only applicable to new Instalment Plan which is approved on 2nd October 2019 onwards.
The below monthly instalment payment amount is for illustration purpose. The actual monthly instalment might be different from the below illustration.
Example 1: Cardholder signed up for Smart Instalment 0%
| Sign up Date | Smart Instalment 0% | Other Purchases | Minimum Amount Due| Purchase Amount | Monthly Instalment (12 months) | Before 2nd Oct 2019 | Effective 2nd Oct 2019 | | |||
|---|---|---|---|---|---|---|---|---|---|---|
| Sign Up 1 | 30 Nov 2018 | 3,600 | 300 | 1,000 | 65.00* | 65.00* | ||||
| Sign Up 2 | 4 Oct 2019 | 3,600 | 300 | 1,000 | 350.00** | |||||
* Calculation of minimum payment: (300 + 1,000) x 5%
** Calculation of minimum payment: 300 + (1,000 x 5%)
Example 2: Cardholder signed up for CashXcess Plan
| Sign up Date | CashXcess Plan (Monthly Instalments) | Other Purchases | Minimum Amount Due| Principal | Interest/ Management Fee | Before 2nd Oct 2019 | Effective 2nd Oct 2019 | | |||
|---|---|---|---|---|---|---|---|---|---|---|
| Sign Up 1 | 30 Dec 2018 | 500 | 10.00 | 550 | 53.00* | 53.00* | ||||
| Sign Up 2 | 4 Nov 2019 | 500 | 10.00 | 550 | 537.50** | |||||
* Calculation of minimum payment: (500 + 10 + 550) x 5%
** Calculation of minimum payment: (500 + 10) + (550 x 5%)
The minimum payment due will be:
a) 5% of Outstanding Balance (comprising of retail transactions, balance transfer, cash advance amount, finance charges/management fees and other fees, if any) and
b) All monthly instalments due (contracted Easy Payment Plan, Balance Transfer Plan, CashXcess Plan and all other instalment plans available from time to time, if any) signed up from 2 October 2019, and
c) The contracted monthly term loan instalment for any Automatic Balance Conversion (ABC) if any, and
d) Any unpaid minimum payments specified in the preceding month’s statement (if any) and
e) Amount in excess of the Card Limit during the statement month (if any) and
f) Card Service Tax and any other value added taxes imposed
Or
g) A minimum amount of RM50 from the outstanding balance, whichever is higher.
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