Like every other Malaysian, you’re probably trying to make the best of your finances and constantly looking for cost-efficient opportunities. FinCrew offers you a platform through which you can access all the relevant information you need to secure the best easy payment plans for you! Now, you don’t have to take on excessive debt if you don’t want to. With the right easy payment plan, you can get a comfortable 0-interest repayment monthly installment plan! Here’s everything you need to find the most affordable installment payment plans in Malaysia and how FinCrew can help you get these packages!
What Are Easy Payment Plans In Malaysia?
Also commonly referred to as a credit card Flexi payment plan, an easy payment plan or EPP is a relatively new program that allows customers to convert rather large purchases into smaller installment payment units over a specific time frame. While you would typically have to make these big purchases out of your bank account balance and possibly deplete your available funds considerably, you don’t have to go that far anymore. Instead, you can rely on a Flexi payment plan to get what you want without stretching yourself too thin. Similarly, you won’t have to max out your credit cards on these purchases and then manage an overly large outstanding balance earlier at the end of the month. As this card installment plan would’ve kicked in, you’ll have more flexibility to get the things you want without having to stress yourself when making the payments for your purchase.
But having established this, there are terms that you need to remember before leveraging any program like this. The most important is that many 0 installment interest rate packages change if a consumer cannot meet the minimum amount their payment plans stipulate monthly. When this happens, a credit card easy payment plan can quickly end up costing you more than paying for the item(s) with a credit or debit card would. As such, you must know as much as possible about which easy payment plan or EPP to use before moving forward with your purchase. It is why FinCrew comes in.
Why Use FinCrew To Compare EPP?
As there are several 0%-interest rate installment plans you can take advantage of, you might assume that it’s all the same, no matter which 0 easy payment plans you go for. However, that isn’t always the case. Each Flexi payment plan has unique parameters and terms and conditions that govern its use. Consequently, it’s relatively easy to go for a package that might not suit you well. But with the FinCrew Flexi credit card comparison tool, you can eliminate any uncertainty on this front. As you’ll be able to get a concise breakdown of the features of each of these payment plans with FinCrew, you’ll know just what each program has to offer. Then, guided by this knowledge, you’ll be able to identify the best plan to suit your needs more accurately.
Getting The Best Credit Card Easy Payment Plan In Malaysia
In addition to using the FinCrew comparison tool, there are some other factors you should pay close attention to when deciding on which 0-interest rate plan to opt for. These include:
Confirming That The Plan Truly Offers a 0 Interest Rate Plan
In Malaysia today, more than a few programs that claim to offer 0 easy payment interest end up charging an extra fee for their service. Often, these providers charge between 3 to 4% of the amount borrowed. Assuming that you get a high-end laptop that costs RM 7 000 on a 4% extra fee plan, you’ll be paying an additional RM 280. That’s a significant sum by any measure. So, you must confirm that whatever method you’re getting won’t come with hidden fees or charges.
What Happens In The Event Of Late Payment
What tends to get a lot of publicity is the fact that a credit card installment plan doesn’t come with any interest charges attached. However, many merchants and banks tend not to mention that there are particularly grievous implications to not making the monthly payments when due. So, even when you get a legit 0-interest easy payment, you should also make sure you find out what happens should you miss the minimum monthly payment. In most cases, if you miss an installment payment, your provider reserves the right to withdraw their 0 interest rate offering and replace it with the standard 18% p.a. interest rate that most credit cards come with. Should this happen, you could find yourself in a lot more debt. As such, it’s vital always to know what to expect here.
The Minimum Spending Limit
To become eligible for an EPP, you must first meet a specific spending limit. This limit differs between banks and merchants. However, you can use FinCrew to find this information and prepare accordingly. So, get started finding the best 0-interest installment payment plan for you here!
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You plan to shop online for the best auto insurance policy when you get home. After that, you’ve also got to start shopping for a provider with the best interest rate as you plan on applying for a personal loan or SME loan soon. And oh, your medical insurance will be lapsing soon, and you need to renew it before it expires. It reminds you of the home insurance you’ve been putting off for so long! How will you ever manage with so many financial services to attend to at once? How will you ever manage?! We are introducing the new and improved FinCrew! You don’t have to dash from one tab on your browser to the next anymore! With our newly optimized user interface, you now have all the financial products and services you could need.
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