0% interest instalment payment plans

Pay off purchases with a 0% interest instalment payment plan from your credit card provider.

Updated

If you have a large upcoming expense, a 0% interest instalment payment plan might allow you to break the cost down into controllable monthly repayments. Over each month of your plan, you’ll pay the same amount towards the initial purchase. This allows you to maintain control over budgeting and take your time in paying off debt.

Read on to break down 0% interest instalment payment plans and compare credit cards that offer them.

Compare cards offering 0% interest instalment payment plans

Name Product Interest Rate Reward Annual Fee Min Income - Singaporean and PR
DBS Woman's Card
26.8%
Up to 10X DBS Points (or 20 miles) per S$5 spent on online and overseas purchases
S$0 annual fee for the first 1 year and S$160.50 thereafter
S$30,000
Get AirPods or S$200 cashback when you sign up by 30 June 2020.
UOB PRVI Miles Visa Card
25.9%
6 air miles for every S$1 spent through Expedia, Agoda and UOB Travel
S$0 annual fee for the first 1 year and S$256.80 thereafter
S$30,000
Apply today and enjoy up to S$150 in cash credits. Plus, free travel cover.
UOB PRVI Miles World Mastercard
25.9%
6 air miles for every S$1 spent through Expedia, Agoda and UOB Travel
S$0 annual fee for the first 1 year and S$256.80 thereafter
S$30,000
Apply today and enjoy up to S$150 in cash credits. Plus, free travel cover.
DBS Live Fresh Card
26.8%
Up to 10% Cashback on online and contactless spend (including SimplyGo rides)
S$0 annual fee for the first 1 year and S$192.60 thereafter
S$30,000
Get AirPods or S$200 cashback when you sign up by 30 June 2020.
UOB Delight Credit Card
25.9%
Up to 8% rebate at Cold Storage, Market Place, Jasons, Giant and Guardian.
S$0 annual fee for the first 1 year and S$85.60 thereafter
S$30,000
DBS Live Fresh Student Card
26.8%
Get an AirPods with charging case (worth S$239) or S$40 worth of foodpanda vouchers when you sign up by 30 June 2020 and meet the minimum spend requirement.
S$0 annual fee for the first 5 years and S$192.60 thereafter
N/A
Get an AirPods with charging case (worth S$239) or S$40 worth of foodpanda vouchers when you sign up by 30 June 2020. Plus, stand to win a pair of Marshall headphones with a custom pouch with every S$20 spent online.
UOB Yolo Card
25.9%
Wide range of discounts. Plus, complimentary travel insurance
S$0 annual fee for the first 1 year and S$192.60 thereafter
S$30,000
Apply today and get up to S$230 in bonus cash credits. T&Cs apply.
DBS Altitude Card
26.8%
Earn up to 4 miles per S$1 spend, with no expiry
S$0 annual fee for the first 1 year and S$192.60 thereafter
S$30,000
Get AirPods or S$200 cashback when you sign up by 30 June 2020.
Get fee waiver for the first year and up to S$192.60 thereafter, with 10,000 bonus miles.
UOB One Card
25.9%
Up to 10% cashback on Grab and UOB Travel transactions; 6% for your Singapore Power bill; and 5% back on all other spending
S$0 annual fee for the first 1 year and S$192.60 thereafter
S$30,000
Apply today and get up to S$230 in bonus cash credits. T&Cs apply.
Citi Lazada Card
0%
Earn 10x rewards on eligible Lazada purchases and 5x rewards on qualifying dining, entertainment and travel purchases
S$0 annual fee for the first 1 year and S$192.60 thereafter
S$30,000
UOB Lady's Card
25.9%
10X UNI$ (or 20 miles) per S$5 spent on chosen category with no min. spend required
S$0 annual fee for the first 1 year and S$192.60 thereafter
S$30,000
Apply today and get up to S$230 in bonus cash credits. Plus, 0% interest on some purchases for up to 12 months.
KrisFlyer UOB Credit Card
25.9%
Earn 3 KrisFlyer miles per S$1 when you spend with Singapore Airlines, Scoot, SilkAir or KrisShop and 1.2 KrisFlyer miles per S$1 on all other spend.
S$0 annual fee for the first 1 year and S$192.60 thereafter
S$30,000
Apply today and enjoy up to 3,000 KrisFlyer miles if you charge at least S$1,500 to your credit card in the first month.
UOB PRVI Miles American Express Card
25.9%
6 air miles for every S$1 spent through Expedia, Agoda and UOB Travel
S$0 annual fee for the first 1 year and S$256.80 thereafter
S$30,000
Apply today and enjoy free transfers to Changi Airport. Plus, 20,000 bonus air miles if you charge S$50,000 to your card in a year.
POSB Everyday Card
26.8%
Enjoy up to 15% cash rebates on daily essentials such as groceries and online food delivery
S$0 annual fee for the first 1 year and S$192.60 thereafter
S$30,000
Get AirPods or S$200 cashback when you sign up by 30 June 2020.
Standard Chartered Unlimited Cashback Credit Card
26.9%
Shopping, travel and lifestyle offers at over 3,000 outlets in Asia
S$0 annual fee for the first 2 years and S$192.60 thereafter
S$30,000
Apply today via MyInfo and receive up to S$170 cashback. Ends 30 June 2020.
Standard Chartered Rewards+ Credit Card
26.9%
Up to 10X rewards points for every S$1 spent in foreign currency on
overseas retail, dining and travel
S$0 annual fee for the first 2 years and S$192.60 thereafter
S$30,000
Apply today and enjoy a range of perks including 1-for-1 movie tickets with Cathay Cineplexes. Plus, complimentary travel medical insurance.
American Express True Cashback Card
25.9%
Enjoy free travel insurance benefits of up to S$350,000
S$0 annual fee for the first 1 year and S$171.20 thereafter
S$30,000
Apply today and get a 3% Cashback bonus when you spend S$5,000 in the first six months.
Standard Chartered Spree Credit Card
26.9%
Up to 24.2% petrol savings at Caltex stations.
S$0 annual fee for the first 2 years and S$192.60 thereafter
S$30,000
Enjoy up to 3% cashback on all online spend in foreign currency and all vPost spend. Plus, up to 25% off on postal services and lots more.
HSBC Visa Platinum Credit Card
25.9%
Earn 1 Reward point for every $1 on all spend.
S$0 annual fee for the first 2 years and S$192.60 thereafter
S$30,000
New cardholders will be awarded with a Samsonite Prestige 69cm Spinner Exp with built-in scale (worth SS670) or S$150 cashback with minimum spend of S$800 within the qualifying spend period. Receive an additional S$20 worth of grab rides when you apply online with MyInfo via SingPass. T&Cs apply. Ends 30 June 2020.
Standard Chartered NUS Alumni Platinum Credit Card
26.9%
Earn 1 Rewards point for every S$1 charged to your card
S$0 annual fee for the first 2 years and S$192.60 thereafter
S$30,000
Apply today via MyInfo and receive up to S$170 cashback. Ends 30 June 2020.
American Express Singapore Airlines KrisFlyer Credit Card
25.9%
Enjoy money-saving offers on Hertz, Grab and at restaurants in Singapore and overseas
S$0 annual fee for the first 1 year and S$176.55 thereafter
S$30,000
Earn 8,000 bonus KrisFlyer miles when you spend S$5,000 in the first 3 months of card membership and additional 8,000 bonus KrisFlyer miles in 4th to 6th month. Ends 30 June 2020.
HSBC Revolution Credit Card
25.9%
Up to 5X Rewards points (2 miles per S$1 spent) on qualifying purchases
S$0 annual fee for the first 2 years and S$160.50 thereafter
S$30,000
New cardholders will be awarded with a Samsonite Prestige 69cm Spinner Exp with built-in scale (worth SS670) or S$150 cashback with minimum spend of S$800 within the qualifying spend period. Receive an additional S$20 worth of grab rides when you apply online with MyInfo via SingPass. T&Cs apply. Ends 30 June 2020.
American Express Platinum Credit Card
25.9%
Up to 50% off your food bill for unlimited visits at hotels around Singapore
S$321 annual fee
S$50,000
Get up to 80,000 Membership Rewards points with minimum spend in your first 6 months and when you successfully refer a friend. T&Cs apply.
Standard Chartered Visa Infinite X Credit Card
26.9%
3 miles per $1 spent on foreign currency.
S$695.50 annual fee
S$30,000
Apply today via MyInfo and receive S$20 cashback.
American Express Singapore Airlines KrisFlyer Ascend Credit Card
25.9%
Complimentary stay at a Hilton hotel in Asia Pacific each year. Plus, enjoy four airport lounge passes
S$337.05 annual fee
S$50,000
Earn 16,000 KrisFlyer miles if you spend at least S$10,000 within the first three months. Ends 30 June 2020.
Standard Chartered Manhattan $500 Card
26.9%
N/A
S$0 annual fee for the first 1 year and S$32.10 thereafter
S$18,000
Standard Chartered Priority Banking Visa Infinite Credit Card
26.9%
Earn 2.5 points for every $1 spent on your credit card
S$321 annual fee
S$30,000
Apply today and receive up to S$80 cashback. Ends 30 June 2020.
HSBC Advance Credit Card
25.9%
Enjoy annual fee waivers, up to 20.2% off your fuel, 1-for-1 lifestyle offers, and more
S$0 annual fee for the first 1 year (permanently waived for HSBC Advance banking customers) and S$192.60 thereafter
S$30,000
New cardholders will be awarded with a Samsonite Prestige 69cm Spinner Exp with built-in scale (worth SS670) or S$150 cashback with minimum spend of S$800 within the qualifying spend period. Receive an additional S$20 worth of grab rides when you apply online with MyInfo via SingPass. T&Cs apply. Ends 30 June 2020.
Citi Cash Back Card
26.9%
Get up to 20.88% off fuel. Plus, travel offers in 95 countries
S$0 annual fee for the first 1 year and S$192.60 thereafter
S$30,000
Get a welcome gift of S$120 cash back when you spend S$1,200 in the first 3 months. T&Cs apply. Ends 31 January 2021.
Standard Chartered Prudential Visa Signature Card
26.9%
Up to 10x rewards points on foreign spend, with no minimum spend required
S$0 annual fee for the first 2 years and S$192.60 thereafter
S$30,000
Apply today via MyInfo and receive up to S$170 cashback. Ends 30 June 2020.
Citibank SMRT Card
26.9%
Up to 5% savings on groceries, fast food, movies, and coffee. Plus, 3% savings on online shopping
S$0 annual fee for the first 2 years and S$192.60 thereafter
S$30,000
Get a welcome gift of S$120 cash back when you spend S$1,200 in the first 3 months. T&Cs apply. Ends 31 January 2021.
Citi Rewards Credit Card
26.9%
10X Rewards on certain shopping spend, including online purchases
S$0 annual fee for the first 1 year and S$192.60 thereafter
S$30,000
Get 30,000 Citi Thank You points when you spend S$3,000 in the first 3 months. T&Cs apply. Ends 30 June 2020.
Citi Prestige Card
26.9%
Deals and discounts in more than 90 countries. Also, get six complimentary golf games across Asia
S$535 annual fee
S$120,000
Get a welcome gift of 62,500 Citi ThankYou Points (25,000 Miles) or Gadget Welcome Gift. T&Cs apply. Ends 30 June 2020.
Citi PremierMiles Card
26.9%
Deals and discounts in 95 countries. Plus, 10% off on hotel bookings with Expedia
S$0 annual fee for the first 1 year and S$192.60 thereafter
S$30,000
Get 37,300 miles when you spend S$9,000 in the first 3 months. Annual fee applies. Ends 30 June 2020.
American Express CapitaCard
25.9%
Earn 3X STAR$ when you shop at participating CapitaLand malls, and more
S$0 annual fee for the first 1 year and S$171.20 thereafter
S$30,000
Receive an American Tourister Hypebeat 79/29 Spinner luggage (worth S$239) upon S$3,000 minimum spend within the first 3 months of card approval. Ends 30 June 2020.
Maybank Business Platinum Mastercard
20%
Get your business logo printed on your card. Plus, enjoy a global concierge service
S$0 annual fee for the first 2 years and S$180 thereafter
N/A
Get up to S$1 million in Travel Accident Insurance when you purchase flights or travel packages using your card.
Maybank eVibes Card - The Student Card
25.9%
Up to 8% off accommodation bookings globally with Agoda.
S$0 annual fee for the first 2 years and S$20 thereafter
N/A
Get an Adidas wristwatch worth S$120 when you use your card in the first month. First 500 successful applicants only.
Maybank Platinum Visa Card
15%
Get complimentary travel cover of up to S$500,000
S$0 annual fee for the first 3 years and S$80 thereafter
S$30,000
Get S$100 cash credit when you apply, charge to your card and withdraw from your CreditAble account with a minimum of S$250 for each of the first two months upon approval. T&Cs apply. Ends 31 Aug 2020.
Maybank Family & Friends Credit Card
25.9%
Earn up to 3X interest on your child's savings with Maybank Family Plus
S$0 annual fee for the first 3 years and S$180 thereafter
S$30,000
Get S$100 cash credit when you apply, charge to your card and withdraw from your CreditAble account with a minimum of S$250 for each of the first two months upon approval. T&Cs apply. Ends 31 Aug 2020.
Maybank Manchester United Platinum Visa Card
25.9%
Chance to win a trip for 2 to watch Manchester United FC every season
S$0 annual fee for the first 2 years and S$80 thereafter
S$30,000
Get S$100 cash credit when you apply, charge to your card and withdraw from your CreditAble account with a minimum of S$250 for each of the first two months upon approval. T&Cs apply. Ends 31 Aug 2020.
Maybank DUO Platinum Mastercard
25.9%
Car servicing vouchers, vehicle merchandise and more
S$120 annual fee
S$30,000
Get S$100 cash credit when you apply, charge to your card and withdraw from your CreditAble account with a minimum of S$250 for each of the first two months upon approval. T&Cs apply. Ends 31 Aug 2020.
Maybank FC Barcelona Visa Signature Card
25.9%
Chance to win a trip for 2 to watch FC Barcelona every season
S$120 annual fee
S$30,000
Get S$100 cash credit when you apply, charge to your card and withdraw from your CreditAble account with a minimum of S$250 for each of the first two months upon approval. T&Cs apply. Ends 31 Aug 2020.
Maybank Visa Infinite Credit Card
25.9%
Complimentary two-way airport limousine transfers. S$3,000 minimum spend per month
S$0 annual fee for the first 1 year and S$600 thereafter
S$150,000
Get S$100 cash credit when you apply, charge to your card and withdraw from your CreditAble account with a minimum of S$250 for each of the first two months upon approval. T&Cs apply. Ends 31 Aug 2020.
Maybank Horizon Visa Signature Card
25.9%
Complimentary access to selected VIP airport lounges. Plus, travel cover of up to S$1,000,000. Ts&Cs apply
S$0 annual fee for the first 3 years and S$180 thereafter
S$30,000
Get S$100 cash credit when you apply, charge to your card and withdraw from your CreditAble account with a minimum of S$250 for each of the first two months upon approval. T&Cs apply. Ends 31 Aug 2020.
Maybank World Mastercard
25.9%
A range of dining, shopping and travel deals - including up to S$1,000,000 of travel insurance
S$0 annual fee for the first 1 year and S$240 thereafter
S$80,000
Get S$100 cash credit when you apply, charge to your card and withdraw from your CreditAble account with a minimum of S$250 for each of the first two months upon approval. T&Cs apply. Ends 31 Aug 2020.
Standard Chartered Platinum Visa Credit Card
0%
Earn 1 Rewards point for every S$1 charged to your card
S$0 annual fee for the first 2 years and S$192.60 thereafter
S$30,000
Earn 1 Rewards point for every S$1 charged to your card.
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What are 0% instalment plans?

Instalment plans allow you to pay off a designated amount, usually a one-off purchase, on a structured repayment schedule. Each instalment will be included on your credit card bill.

There are a number of benefits to 0% interest instalment plans, including:

  • 0% interest. As the name suggests, you can pay 0% interest on individual purchases. Purchases can range from luxury items such as televisions and airfares to services such as gym memberships. In contrast to a regular credit card purchase, you won’t be charged any interest on the repayments you have to make.
  • Simple budgeting. As instalment repayments are always the same amount, it’s easy to factor them into your monthly budget. This can aid in financial planning, especially if you’re making a larger, one-off purchase.
  • Variable payment lengths. You can nominate an amount of time, typically between three months and three years, over which to make repayments. This allows you the flexibility to opt for lower repayment amounts over a longer period or higher amounts over a shorter period.

What you need to know before taking out an instalment plan

While the benefits of a 0% instalment plan may be plain to see, there are some additional factors and costs to keep in mind, including:

Your reward points and other benefits may be suspended

Many banks remove reward point earning and other benefits when you sign up for a 0% instalment plan. This is one way in which banks recoup some of the losses incurred by offering an option with 0% interest.

The entire amount is deducted from your credit limit when you pay

Even though you’ll be making smaller repayments via instalments, you’re still charged the full amount of a purchase upfront. Be sure you keep this in mind if the size of your purchase is close to your credit limit. You don’t want to make a purchase and then find you can’t use your credit card for other necessities because it’s already maxed out. The amount you owe may be held against your credit limit every month, meaning you won’t have access to your full credit limit amount until you’ve fully paid off the instalment plan.

You may have to pay fees including early repayment fees and admin fees

While the appeal of a 0% interest instalment plan is obvious, many people get surprised when they’re told of additional fees and charges that need paying. Administration fees are usually calculated as a percentage of the price of your purchase and tend to be applied when a merchant and bank don’t have an existing agreement in place. If you’re able to repay your plan early the bank may also charge you an early repayment fee, which is typically a flat amount.

You can’t cancel your card before you pay off the payment plan in full

This can be important if the terms of your card are set to change over the duration of your instalment plan. For example, if your card offers promotions or waives certain fees for a set amount of time. If you open an instalment payment plan with this card, you won’t be able to cancel it without first paying off the total balance.

How to compare instalment payment plans

Major banks and credit providers such as American Express, BOC, Citibank, DBS, HSBC, Maybank, Standard Chartered and UOB all offer instalment payment plans.

For many people, the easiest option for an instalment payment plan will be to use the plan offered by your current card provider. This will save you any new sign-up costs and time commitments. If you have cards from multiple banks or are looking for a new card specifically for a 0% instalment plan, be sure to consider:

  • Available repayment length options. You’ll be able to apply for instalment plans of varying lengths. This could be anywhere from a couple of months through to three years. Shorter terms have larger repayments, whereas longer terms hold the amount against your credit limit for a more extended period of time. Be sure to choose a repayment length that suits your financial capabilities.
  • Early repayment fees. Some plans will charge you a fee if you pay off the amount borrowed before the designated time. This fee typically ranges from S$100 to S$150. Remember to read the terms and conditions of your plan before signing up.
  • Admin fees. Banks often charge an admin fee when you sign up to an instalment plan. Admin fees generally range from 3–6% of the purchase price. Longer instalment plans tend to attract higher admin fees.
  • Minimum purchase amounts. Banks will often set a minimum amount for a 0% interest instalment plan. This means you can’t sign up for a plan for minor purchases. Minimums vary and can be as low as S$250 and as high as S$500.
  • Existing relationships the bank has with vendors or retailers. Banks often have relationships with vendors that simplify the sign-up process. This may mean you can sign up for a 0% instalment plan in-store. If a bank doesn’t have an existing relationship with the vendor you wish to buy from, the admin cost can be a little higher to account for the establishment of a new bank-vendor relationship.

Bottom line

Making a purchase with a 0% interest instalment payment plan can help you control your spending and save you from paying a major expense all at once. If you’re interested in an instalment plan, compare credit cards above that offer payment plans in Singapore.

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