Auto Balance Conversion Maybank
The monthly instalment amount from auto balance conversion is rm505 and 100 of instalment amount is demanded.
Auto balance conversion maybank. The conversion is done automatically without a processing fee and there is also no cancellation fee incurred for early settlement. According to cimb the auto balance conversion feature allows credit cardholders to enjoy a lower interest rate of 13 p a. Calculate the total amount you d have to pay in the end.
The rates are for your reference only. Your auto balance conversion will start upon successful enrollment which will be communicated to you via sms or email notification to your registered mobile number or electronic direct mailer edm the outstanding balance on credit card i will be reviewed on your statement date to verify if it meets the minimum criteria for conversion. Monthly payment due illustration auto balance conversion interest rate management charge 13.
See how long it takes to repay your credit card balance. The amount you intend to owe. Auto balance conversion is a credit card programme available to eligible cardmembers to automatically convert the outstanding balances into smaller instalments if the cardmembers meet the eligibility criteria.
For cimb islamic credit card the outstanding amount statement balance that will be converted into auto balance conversion is outstanding principal amount only. Calculate the total credit card interest payable. Charged on unpaid credit card balances.
Upon enrolment the outstanding statement balance will be converted 2 days before statement cycle date. Maybank will auto enrol eligible customers. A late payment charge of 1 on the outstanding balance of the balance conversion monthly payment subject to a minimum of rm10 and maximum of rm100 will be charged if you fail to do so.
Eligible credit cardholders who have not made a full payment for their outstanding balance for the past 12 months and with average credit repayment of not more than 10 of the outstanding balance over the past 12 months would be automatically enrolled for abc. Outstanding balance rm 10 000. Enter the credit card interest rate in percentage.
Instead of the usual 15 18 p a. To obtain our latest rates please call 1800 maybank 1800 629 2265 or 65 6533 5229 overseas. Balance conversion monthly payments must be paid in full by the credit card due date for each month.
Minimum conversion amount of rm1 000 will be converted into an instalment plan at 13 p a. The star in 2019 banking institutions introduced a similar repayment programme known as auto balance conversion abc.
