Best 0% Instalment Plan Credit Cards in Singapore 2020

Convert big purchases into small instalments with these 0% interest instalment plan credit cards. Read More
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Standard Chartered logo
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Unlimited Cashback

Standard Chartered Unlimited Cashback Credit Card

Minimum Amount
S$500
Processing Fee
5%
Tenure
6 or 12 Months
MoneySmart Exclusive: Get a pair of Sony wireless noise cancelling headphones WF-1000XM3 worth $349 delivered to your doorstep when you apply and activate your card! For new-to-bank cardholders only. Valid till 13 Jul 2020.
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DBS logo
Online Promo
Online Shopping

DBS Woman's Card

Minimum Amount
S$100
Processing Fee
0% (Valid till 31 Dec 2020)
Tenure
3 to 12 Months
Online Promo: Flash Deal Up to S$220 Cashback on Shopping & Dining! Use promo code "SHOP220". Valid till 10 Jul 2020.
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POSB logo
Online Promo
Earn Cash Rebates that Never Expire

POSB Everyday Card

Minimum Amount
S$100
Processing Fee
0% (Valid till 31 Dec 2020)
Tenure
3 to 12 Months
Online Promo: Flash Deal Up to S$220 Cashback on Shopping & Dining! Use promo code "SHOP220". Valid till 10 Jul 2020.
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CIMB logo

CIMB Visa Signature

Minimum Amount
S$500
Processing Fee
3% to 5%
Tenure
6 to 24 Months
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HSBC logo
Cashback on Big Expenses

HSBC Advance Credit Card

Minimum Amount
S$500
Processing Fee
3% to 5%
Tenure
3 to 12 Months
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CIMB logo

CIMB Platinum Mastercard

Minimum Amount
S$500
Processing Fee
3% to 5%
Tenure
6 to 24 Months
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DBS logo
Online Promo
Earn Miles That Never Expire

DBS Altitude Visa Signature Card

Minimum Amount
S$100
Processing Fee
0% (Valid till 31 Dec 2020)
Tenure
3 to 12 Months
Online Promo: Flash Deal Up to S$220 Cashback on Shopping & Dining! Use promo code "SHOP220". Valid till 10 Jul 2020.
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CIMB logo

CIMB Visa Infinite

Minimum Amount
S$500
Processing Fee
3% to 5%
Tenure
6 to 24 Months
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Standard Chartered logo
MoneySmart Exclusive
Earn Points on Dining & Travel

Standard Chartered Rewards+ Credit Card

Minimum Amount
S$500
Processing Fee
5%
Tenure
6 or 12 Months
MoneySmart Exclusive: Get a pair of Sony wireless noise cancelling headphones WF-1000XM3 worth $349 delivered to your doorstep when you apply and activate your card! For new-to-bank cardholders only. Valid till 13 Jul 2020.
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CIMB logo

CIMB World Mastercard

Minimum Amount
S$500
Processing Fee
3% to 5%
Tenure
6 to 24 Months
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Standard Chartered logo
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No Minimum Spend for Cashback

Standard Chartered Spree Credit Card

Minimum Amount
S$500
Processing Fee
5%
Tenure
6 or 12 Months
MoneySmart Exclusive: Get a pair of Sony wireless noise cancelling headphones WF-1000XM3 worth $349 delivered to your doorstep when you apply and activate your card! For new-to-bank cardholders only. Valid till 13 Jul 2020.
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DBS logo
Online Promo
Online & Visa Contactless Spend

DBS Live Fresh Card

Minimum Amount
S$100
Processing Fee
0% (Valid till 31 Dec 2020)
Tenure
3 to 12 Months
Online Promo: Flash Deal Up to S$220 Cashback on Shopping & Dining! Use promo code "SHOP220". Valid till 10 Jul 2020.
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Best 0% Interest Instalment Plan Credit Cards

Credit CardProcessing FeeTenure
DBS Woman's Card0%3 to 12 Months
Standard Chartered Spree Card5%6 or 12 Months
CIMB Visa Signature Card3% to 5%6 to 24 Months
HSBC Advance Credit Card3% to 5%3 to 12 Months
Standard Chartered Unlimited Cashback Card5%6 or 12 Months
POSB Everyday Card0%3 to 12 Months

What are Credit Card 0% Instalment Plans?

If you are planning to purchase big-ticket items, it is worthwhile to look into credit cards offering 0% instalment plans. This is a way for you to split a large purchase into smaller repayments over several months. You will not be charged interest on the outstanding portion of your bill. 0% instalment plans are definitely a better option compared to just paying the minimum on your credit card bill (and letting the unpaid balance accrue tons of interest!).

How Do Credit Card 0% Instalment Plans Work?

If your credit card offers a 0% instalment plan, it will be offered only for selected credit card charges that are above a minimum amount (e.g. S$100). You can choose from a few repayment tenures (e.g. 3 months, 6 months, 12 months) and there is usually a one-time processing fee (e.g. 3%) you need to pay to start the instalment plan. Once it starts, you will need to commit to the instalment plan. If you choose to repay the amount early, you may have to pay a penalty for that.

Are 0% Instalment Plans Available at My Favourite Store?

Credit card issuers may work with selected retail partners, such as electronics stores and luxury boutiques, to offer special instalment plans. Below are some examples.

Apple 0% Instalment Plan

If you spend at least S$500 at the Apple Store, you can convert your purchase into instalments at 0% interest. This is valid with a DBS, OCBC, UOB, Citibank, HSBC or Standard Chartered credit card. The instalment plan period can be 12 or 24 months, depending on the bank.

Challenger 0% Instalment Plan

Challenger offers a 0% instalment plan if you pay by DBS or UOB credit card. The minimum spend is S$500 and you can choose from 6- or 12-month instalment plans; if you spend at least S$800, you can also opt for 24 months.

Harvey Norman 0% Instalment Plan

With a minimum spend of at least S$500 online on Harvey Norman’s website, you can convert your purchase into 12- or 24-month 0% interest instalments with a DBS, UOB or AMEX credit card. DBS offers a 12-month instalment plan, while UOB and AMEX have 12- and 24-month options.

Can I Get an Instalment Plan Without a Credit Card?

Yes, but there are not many options. Courts’ instalment plan is the best-known example of one that does not require a credit card. You can choose from various repayment periods (up to 60 months) as long as the purchase is at least S$150. However, you need to pay the first month’s instalment upfront, plus a processing fee. Your instalments will also be subject to very high interest (as high as 33.99% p.a.!). If you have a credit card, it is better to opt for the credit card 0% instalment plan instead.

FAQ

What happens to my credit limit on a 0% instalment plan?

With a 0% instalment plan, the credit card pays the merchant for your purchase in full first. This means that the full purchase amount will be deducted from your credit limit. In other words, you credit limit will be reduced while you are still on the plan.

Can I earn rewards points/cashback on my 0% instalment plan?

Most credit cards do not award any points, miles or cash rebates on 0% instalment plan repayments (you will find it in the list of general exclusions). However, there may be special promotions that do allow points to be earned.

What if I want to shorten the instalment plan tenure?

In the first place, it is best to pick the shortest tenure you can manage. You can cut short your instalment plan by repaying the outstanding amount early, however, there is usually a penalty fee for this. You also cannot cancel your credit card while repaying the instalment plan, and may have to pay the annual fee if it comes up.