0% interest instalment payment plans

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

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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
KrisFlyer UOB Credit Card
25.9%
Earn 3 KrisFlyer miles per S$1 when you spend with Singapore Airlines, Scoot, SilkAir or KrisShop and and 1 KrisFlyer miles per S$1 on all other spend.
S$0 annual fee for 1 year - S$192.60 thereafter
S$30,000
Apply today and enjoy up to S$100 in cash credits and 3,000 KrisFlyer miles. T&C apply.
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 1 year - S$256.80 thereafter
S$30,000
Apply today and enjoy up to S$100 in cash credits. Plus, complimentary personal accident coverage and emergency medical assistance of up to S$500,000.
UOB PRVI Miles World Mastercard Card
25.9%
6 air miles for every S$1 spent through Expedia, Agoda and UOB Travel.
S$0 annual fee for 1 year - S$256.80 thereafter
S$30,000
Apply today and enjoy up to S$100 in cash credits. Plus, complimentary personal accident coverage and emergency medical assistance of up to S$500,000.
UOB Lady's Card
25.9%
10X UNI$ (or 20 miles) per S$5 spent on chosen category with no min. spend required.
S$0 annual fee for 1 year - S$192.60 thereafter
S$30,000
Get up to S$180 comprises of S$100 cash credit when you apply for a new Credit Card and S$80 cash credit when you open an account online. T&C apply. Ends 29 Feb 2020.
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 1 year - S$256.80 thereafter
S$30,000
Apply today and enjoy up to S$100 in cash credits. Plus, complimentary personal accident coverage and emergency medical assistance of up to S$500,000.
UOB Delight Credit Card
25.9%
Up to 8% rebate at Cold Storage, Market Place, Jasons, Giant and Guardian
10% off over 4,000 house brands at Cold Storage, Giant and Guardian
Up to 3% rebate on contactless transactions and recurring bills
0.3% rebate on all other spend
S$0 annual fee for 1 year - S$85.60 thereafter
S$30,000
UOB One Card
25.9%
Up to 10% cashback on Grab and UOB Travel transactions; up to 6% for your Singapore Power bill; and up to 5% back on all other spending.
S$0 annual fee for 1 year - S$192.60 thereafter
S$30,000
Apply today and enjoy up to 10% cashback on Grab and UOB Travel transactions, including up to 24% off fuel at SPC and up to 20.8% off at Shell.
UOB Yolo Card
25.9%
Enjoy up to 8% cashback on dining, travel, shopping and entertainment. Plus, a further 3% cashback on online travel bookings and fashion shopping.
S$0 annual fee for 1 year - S$192.60 thereafter
S$30,000
Apply today and enjoy up to 8% cashback on dining, travel, shopping and entertainment. Plus, a further 3% cashback on online travel bookings and fashion shopping.
Standard Chartered Unlimited Cashback Credit Card
26.9%
1.5% cashback on all spend with no cap and no minimum spend
S$0 annual fee for 2 years - S$192.60 thereafter
S$30,000
Get S$80 cashback with activation of card within 30 days upon approval. Existing cardholders will receive S$20. Ends 31 March 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 2 years - S$192.60 thereafter
S$30,000
Get S$80 cashback with activation of the card within 30 days upon approval. Existing cardholders will receive S$20. Ends 31 March 2020.
American Express True Cashback Card
25.9%
1.5% cashback on all purchases with no minimum spend and no cap
S$0 annual fee for 1 year - S$171.20 thereafter
S$30,000
Receive 3% Cashback bonus and up to S$150 Cashback when you spend S$5,000 in the first six months.
HSBC Visa Platinum Card
25.9%
5% cash rebate on groceries, fuel and dining
S$0 annual fee for 2 years - S$192.60 thereafter
S$30,000
Get free Samsonite T5 68cm Spinner luggage with built-in scale worth S$560 or S$150 cash back when you spend S$800 in qualifying transactions from card approval to the end of the following month. Receive an additional S$20 worth of grab rides when you apply online with MyInfo via SingPass. T&Cs apply. Ends 31 March 2020.
American Express Singapore Airlines KrisFlyer Credit Card
25.9%
For every S$1 spent, get up to 1.1 KrisFlyer miles on all eligible purchases, 2 miles in foreign currency spent overseas (June and December) and 3.1 miles on Grab Singapore transactions (up to S$200 spend in each calendar month).
S$0 annual fee for 1 year - 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 KrisFlyer miles with minimum spend of S$5,000 in the 4th to 6th month of membership. Ends 30 April 2020.
HSBC Revolution Credit Card
25.9%
Up to 5X Rewards points (2 miles per S$1 spent) on online, dining and entertainment purchases
S$0 annual fee for 2 years - S$160.50 thereafter
S$30,000
Get free Samsonite T5 68cm Spinner luggage worth S$560. Simply make S$800 in qualifying transactions in the first month of your account. Ends 31 March 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 a free Samsonite luggage (worth S$600) and 1-night stay at Swissotel The Stamford Singapore (worth S$529) when you pay the annual fee in the first statement and spend S$4,500 in the first 3 months. T&Cs apply. Ends 31 March 2020.
American Express Singapore Airlines KrisFlyer Ascend Credit Card
25.9%
For every S$1 spent, get up to 1.2 KrisFlyer miles on all eligible purchases, 2 miles in foreign currency spent overseas (June and December) and 3.2 miles on Grab Singapore transactions (up to S$200 spend in each calendar month).
S$337.05 annual fee
S$50,000
Earn 16,000 KrisFlyer miles when you spend S$10,000 within the first three months and an additional 12,000 KrisFlyer miles based on 1.2 KrisFlyer miles per S$1 spent locally. Ends 30 April 2020.
HSBC Advance Credit Card
25.9%
Up to 3.5% cashback on all purchases with no minimum spend
S$0 annual fee for 1 year (permanently waived for HSBC Advance banking customers) - S$192.60 thereafter
S$30,000
Get free Samsonite T5 68cm Spinner luggage with built-in scale worth S$560 or S$150 cash back when you spend S$800 in qualifying transactions from card approval to the end of the following month. Receive an additional S$20 worth of grab rides when you apply online with MyInfo via SingPass. T&Cs apply. Ends 31 March 2020.
Citi Cash Back Card
26.9%
Earn up to 8% cash back on dining, groceries and petrol worldwide.
S$0 annual fee for 1 year - 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. Ends 31 January 2021.
Citibank SMRT Card
26.9%
Up to 5% savings on groceries, fast food, movies, and coffee; up to 3% savings on online shopping.
S$0 annual fee for 2 years - S$192.60 thereafter
S$30,000
Receive a welcome gift of S$120 cash back when you spend S$1,200 in the first 3 months. Ends 31 January 2021.
Citi Rewards Credit Card
26.9%
10X Rewards on your shopping spend (local and overseas) and online purchases (except mobile wallet and travel-related transactions), plus 1X Rewards Points on all other spend, no cap or minimum spend required
S$0 annual fee for 1 year - S$192.60 thereafter
S$30,000
Receive 30,000 Citi Thank You points when you spend S$3,000 in the first 3 months. Ends 31 March 2020.
Citi PremierMiles Visa Card
26.9%
2 Citi Miles for every S$1 spent overseas and 1.2 Citi Miles per S$1 spent locally.
S$0 annual fee for 1 year - S$192.60 thereafter
S$30,000
Receive 37,300 miles when you spend S$9,000 in the first 3 months and pay the annual fee. Terms and conditions apply. Ends 31 March 2020.
Citi Prestige Card
26.9%
Earn 5 ThankYou Points (2 Miles) per S$1 overseas spend and 3.25 ThankYou Points (1.3 miles) per S$1 local spend.
S$535 annual fee
S$120,000
Receive a welcome gift of 62,500 Citi ThankYou Points (25,000 Miles) or Gadget Welcome Gift. Ends 31 March 2020.
American Express CapitaCard
25.9%
Earn 3X STAR$ when you shop at participating CapitaLand malls, 1X STAR$ on all other purchases and additional 10X STAR$ at participating outlets in CapitaLand Malls.
S$0 annual fee for 1 year - S$171.20 thereafter
S$30,000
Add supplementary cardholders and get S$20 worth of CapitaVouchers for each approved member (up to two cardholders). Ends 30 April 2020.
Standard Chartered Spree Credit Card
26.9%
Up to S$60 cashback monthly with no minimum spend
S$0 annual fee for 2 years - S$192.60 thereafter
S$30,000
Get S$80 cashback with activation of card within 30 day upon approval. Existing cardholders will receive S$20. Ends 31 March 2020.
Maybank Business Platinum Mastercard
20%
Earn 1 TREATS Points per dollar spent
S$0 annual fee for 2 years - 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%
Earn 1% cash rebate on all spend
S$0 annual fee for 2 years - S$20 thereafter
N/A
Get an Adidas wristwatch worth S$120 when you use your card in the first month. Offer limited to the first 500 successful applicants.
Maybank Platinum Visa Card
15%
Up to 3.33% cash rebates on local spend
S$0 annual fee for 3 years - S$80 thereafter
S$30,000
Receive an American Tourister Linex 66/24 Luggage TSA (worth S$260) when you charge to your card or withdraw from your CreditAble account with a minimum of S$300 within the first 2 months.
Maybank Family & Friends Card
25.9%
8% cash rebates on groceries, dining, transport and selected merchants with S$800 min. monthly spend
S$0 annual fee for 3 years - S$180 thereafter
S$30,000
Receive an American Tourister Linex 66/24 Luggage TSA (worth S$260) when you charge to your card or withdraw from your CreditAble account with a minimum of S$300 within the first 2 months.
Maybank Manchester United Platinum Visa Card
25.9%
Receive a 10% discount at United Direct Online Megastore and 5 TREATS Points for every dollar spent when Manchester United wins a Premier League match.
S$0 annual fee for 2 years - S$80 thereafter
S$30,000
Receive an American Tourister Linex 66/24 Luggage TSA (worth S$260) when you charge to your card or withdraw from your CreditAble account with a minimum of S$300 within the first 2 months.
Maybank DUO Platinum Mastercard
25.9%
5% cash rebate on petrol in Singapore and Malaysia and 1.5% cash rebate in foreign currency.
S$120 annual fee
S$30,000
Receive an American Tourister Linex 66/24 Luggage TSA (worth S$260) when you charge to your card or withdraw from your CreditAble account with a minimum of S$300 within the first 2 months.
Maybank FC Barcelona Visa Signature Card
25.9%
1.6% unlimited cash rebate on all local spend
S$120 annual fee
S$30,000
Receive an American Tourister Linex 66/24 Luggage TSA (worth S$260) when you charge to your card or withdraw from your CreditAble account with a minimum of S$300 within the first 2 months.
Maybank Visa Infinite Card
25.9%
Earn up to 5X TREATS Points (2 air miles) for every S$1 spent on foreign currency transactions, 3X TREATS Points (1.2 air miles) for every S$1 spent on local spend,
S$0 annual fee for 1 year - S$600 thereafter
S$150,000
Get up to 8 complimentary single-trip airport limousine transfers. T&Cs apply. Ends 31 Dec 2020.
Maybank Horizon Visa Signature Card
25.9%
Up to 3.2 Air Miles (8X TREATS Points) for every S$1 spent on dining, transport and hotel bookings via Agoda.com/horizon
S$0 annual fee for 3 years - S$180 thereafter
S$30,000
Receive an American Tourister Linex 66/24 Luggage TSA (worth S$260) when you charge to your card or withdraw from your CreditAble account with a minimum of S$300 within the first 2 months.
Maybank World Mastercard
25.9%
10X TREATS Points (4 air miles) on every S$1 spent at selected merchants.
S$0 annual fee for 1 year - S$240 thereafter
S$80,000
Receive an American Tourister Linex 66/24 Luggage TSA (worth S$260) when you charge to your card or withdraw from your CreditAble account with a minimum of S$300 within the first 2 months.
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 2 years - S$192.60 thereafter
S$30,000
Get S$80 cashback with activation of card within 30 day upon approval. Existing cardholders will receive S$20. Ends 31 March 2020.

Compare up to 4 providers

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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