The Best 0% Interest Installment Plans in the Philippines (2022)

best 0 zero Interest installment plans in the philippines 2022

Planning to buy a big-ticket item? Well, if you’re like most people, you’re always looking for ways to save money. One of the most important is ensuring that you’re getting the best deal on every purchase, whether it’s a small one or a big one.

That’s why finding the best 0% interest installment plans in the Philippines can be so helpful. You can avoid paying any extra interest on your purchases, and you may even be able to get some bonuses or rewards for using your card.

So if you’re looking for a new credit card, or you’re already an existing cardholder, then carry on. We have listed some of the best 0% interest installment plans that you can avail of from your card issuer. Let’s get the ball rolling, shall we?

What’s a 0% interest installment plan?

A 0% interest installment plan is a type of payment plan that allows you to pay off your purchase over time without accruing any additional interest. This can be a great option if you need a little extra time to pay off your purchase or if you want to avoid paying any extra interest.

Many credit cards offer 0% interest installment plans, so be sure to check with your favorite stores before purchasing.

How does a 0% interest installment plan work?

With a 0% interest installment plan, you will typically be given anywhere from three to 12 months to pay off your purchase. You will make fixed monthly payments during that time, and you won’t have to pay any additional interest on the purchase.

Most installment plans require paying at least the minimum amount due each month to keep your account active. You also have to pay a minimal fee to process your request. However, keep in mind that you should have good credit standing when you request, as banks may approve or reject it.

Compare the 0% installment plans 2022

Bank Payment Terms Processing Fee
AUB Up to 36 months P500
BDO Up to 36 months P300
China Bank Up to 24 months P500 or 5% of the remaining balance whichever is higher
EastWest Bank Up to 24 months P500
HSBC Up to 36 months P500
RCBC Bankard Up to 3 months P250
Security Bank Up to 24 months P500

AUB 0% installment plans 2022

Are you an AUB credit cardholder? Then you might want to check the FlexiPay 0% Installment Program, where you get up to 36 months of flexible installment terms 0% interest for a minimum spend of at least P3,000. Fortunately, AUB has partnered with several brands and outlets nationwide.

What are the terms and conditions of the FlexiPay 0% Installment Program?

  • Valid on a single receipt transaction for at least P3,000.
  • The available payment terms are 3, 6, 9, 12, 18, 24, and 36 months or otherwise specified by the brand or outlet.
  • The cash price and the credit price of the item are the same for the 0% installment transaction.
  • If you want to terminate the payment terms early, you need to pay P500 as a pre-termination fee.
  • The brands include Ace Hardware, Our Home, SM Hypermarket, Toy Kingdom, Uniqlo, and more. Visit the complete list of outlets for more details.

BDO 0% installment plans 2022

BDO offers an Absolutely 0% interest with the BDO EasyPay Installment program when you purchase items from over 10,000 partner stores nationwide. You can choose from any flexible payment terms 3, 6, 9, 12, 18, 24, and 36 months as long as the minimum single receipt is at least P3,000 or unless described or stated by the merchant.

However, keep in mind that you must also read the terms and conditions of this plan:

  • If you want to avail of the 0% interest plan, ask the merchant their terms and conditions and the minimum purchase required.
  • Payment terms are up to 36 months.
  • It only works for cardholders who pay the monthly installments on time.
  • The pre-termination fee cost P300.
  • Crate & Barrel offers the 0% installment plan if your minimum single-receipt transaction is P15,000. For items not included in the 0% offer, BDO’s regular add-on interest rates apply.
  • Other brands that offer 0% installment plans are Ace Hardware, Our Home, Baby Company, Crocs, and more. Here’s a list of brands you can check.

China Bank 0% installment plans 2022

If you’re a China Bank credit cardholder, you can also avail the 0% percent Merchant Installment Program as long as you have a good credit standing. The payment terms are up to 24 months or depending on the terms and conditions of the partner merchants locally.

Here’s what you need to know in case you want to avail it.

  • The 0% installment plan is available on selected items in partner merchants with payment terms of 3, 6, 9, 12, 18, and 24 months.
  • The minimum spend required with a single-receipt transaction to qualify for the plan varies from one merchant to another.
  • The shortest term you can avail of is three months.
  • Always read the fine print of the merchant before you avail of the plan and if you’re eligible based on the amount of transaction.
  • The pre-termination fee is 5% of the remaining balance or P500, whichever is higher.
  • You can use the 0% installment plan on spending categories such as beauty and wellness, computers and electronics, grocery, appliance and furniture, hospital and healthcare, and more. Check out the complete list of brands and merchants nationwide.

EastWest 0% installment plans 2022

EastWest Bank offers 0% interest as the latest promos, which are valid until next year. If you’re a credit cardholder with a good credit standing, you can enjoy flexible payment terms up to 24 months with a minimum purchase of P3,000.

The terms and conditions vary from one partner merchant to the other such as the payment terms and minimum required per transaction. So here are some of the things you should know.

  • All transactions are subject to EastWest Bank’s approval.
  • Enjoy 0% interest for up to 24 months with a minimum purchase of P3,000, whether single or multiple purchases on gadgets and appliances.
  • Get 0% interest for up to 24 months at Abenson, SM Store, MemoXpress, Fone Style, Globe, and Power Mac Center. For the complete list of promos, visit the link here.

HSBC 0% installment plans 2022

HSBC credit cardholders can also check the great deals if you plan to reward yourself with big-ticket items such as gadgets, appliances, and more. Enjoy up to 36 months of payments with 0% interest when you swipe the card at participating partner merchants and retailers.

Here are the terms and conditions you should know and some of the promos valid until next year.

  • The minimum purchase required differs from one store to another. Make sure to ask and confirm the installment plan with the merchant or retailer.
  • HSBC cardholders with good credit standing can use the 0% installment plan.
  • A cancellation fee of P500 if you wish to terminate the installment plan before the end of its term.
  • 0% interest up to three months at IKEA store with a minimum spend of P5,000.
  • 0% interest in Our Home stores for 24 months with a minimum spend of P50,000.
  • 0% interest on gadgets at Switch for 24 months with a minimum purchase of P12,000.
  • You can check HSBC’s complete list of merchants, online stores, and retailers.

RCBC Bankard 0% installment plans 2022

RCBC Bankard offers a 0% installment plan for up to three months where you can convert your purchases to installments. If you choose longer payment terms of up to 36 months, you need to pay the add-on rate.

Here are the things you should know before you convert your big purchases.

  • Convert your straight purchases (no minimum amount required) to 0% installment for three months.
  • There’s no minimum amount required, and you can do this as many times as you like. There’s no maximum limit for the conversions.
  • If your purchases are worth below P10,000, the processing fee is P100. Transactions from P10,000 to P30,000 will be charged P200 for the processing fee.
  • For P30,000 worth of transactions, you can convert them directly using the RCBC online banking mobile app.
  • For transactions above P30,000, you can call the customer service hotline, and the processing fee is 1% of the requested transaction amount.
  • If you request a conversion via the customer service hotline or email, the processing fee is P250.
  • You won’t earn any rewards, rebates, or air miles once you convert your transaction.

Security Bank 0% installment plans 2022

Security Bank 0% ChargeLight Installment program lets you avail of 0% interest up to 24 months when you use your credit card at partner merchants and retailers.

Remember that the terms and conditions may vary from one brand to another, such as the payment terms and minimum amount required for eligibility.

You can check out some promos if you need to buy new gadgets, appliances, furniture, and more. Here are some of the things you should know.

  • Use the 0% ChargeLight at Robinsons Appliances with payment terms up to 24 months with a minimum single transaction of P3,000. This promo is valid until December 31, 2021, only.
  • Use your card at SM Stores for a minimum single receipt of P5,000 and pay 0% interest for up to three months. This promo is valid until December 31, 2021.
  • Shop at Rustan’s for a minimum spend of P10,000 and get 0% interest installment payable for six months. This promo is valid until January 31, 2022.

Final thoughts

A 0% interest installment plan is a great way to pay for big purchases without paying for them in cash immediately. The idea behind this type of financing is that it’s designed to help you purchase expensive items and afford them with smaller monthly payments rather than paying everything in full right away.

Even though these types of plans can sound like they may not be worth it because there isn’t any upfront cost but what most people don’t realize is how much money they could save over time by paying less each month on their loan or credit card balance if their finances are tight.

However, you need to manage your finances well and exercise self-discipline when using the 0% installment plan. Just because there’s no interest, it doesn’t mean that it’s always beneficial for you. Remember only to buy the items you think you can afford.

Have you availed of any of the 0% installment plans mentioned above? What do you think? Will this type of payment make you more moneysmart? Let us know in the comments below.