0% Instalment Payment Plan Terms & Conditions

Paying for HRDC Training Courses or HRDC Corporate Training can be a significant investment. To ease this burden, many banks in Malaysia offer a 0% Instalment Payment Plan (IPP) for credit card payments. This plan allows customers to spread the cost over several months without incurring interest. Understanding the terms and conditions of this plan is essential before committing to it. This article explains the key points of the 0% Instalment Plan, focusing on eligibility, tenures, approval, cancellations, and general rules, especially for those using Senangpay for HRD Corp payments.

Eligibility for the 0% Instalment Plan

The 0% Instalment Plan is designed to make payments more manageable, but it comes with specific eligibility criteria:

• Credit Card Holders Only

The plan is available exclusively to credit card holders from participating banks in Malaysia. Debit cards and prepaid cards are not eligible for this option.

• Minimum Purchase Amount

To qualify, the transaction must be at least RM500. This minimum ensures the instalment plan is practical for both the customer and the merchant.

• Applicable Transactions

Only credit card transactions qualify for the instalment plan. This means when paying for HRDC Training Courses or HRDC Corporate Training via Senangpay, ensure you use a credit card issued by a participating bank.

Understanding these eligibility requirements helps avoid confusion during checkout and ensures a smooth payment experience.

Tenures and Fees

One of the main advantages of the 0% Instalment Plan is the flexibility in payment duration and the absence of interest charges. Here’s what you need to know:

• Available Tenures

Customers can choose from instalment periods of 3, 6, 12, or 24 months. The available tenures depend on the total transaction amount and the card-issuing bank’s policies.

• No Interest Charges

The plan offers a 0% interest rate, meaning you only pay the original purchase price divided over the chosen months.

• Merchant Processing Fee

While customers do not pay interest, merchants may incur a one-time processing fee. This fee does not affect the monthly instalment amount shown on your credit card statement.

For example, if you purchase an HRDC Corporate Training package costing RM2,400 and select a 12-month tenure, your monthly instalment will be RM200, with no additional interest charged to you.

Approval and Processing

The instalment plan is not automatic. It requires approval and specific processing steps:

• Bank Approval Required

After you select the instalment option during payment, your card-issuing bank must approve the application. Approval depends on your credit limit and bank policies.

• Credit Limit Blocking

Once approved, the full purchase amount is temporarily blocked on your credit card limit. This means the amount is reserved and cannot be used for other transactions.

• Progressive Release

As you pay each monthly instalment, the blocked amount is gradually released back to your available credit limit.

For instance, if you enroll in an HRDC Training Course costing RM1,200 with a 6-month instalment plan, RM1,200 will be blocked initially. Each month, after paying RM200, your available credit limit increases by that amount.

Cancellation and Refunds

It is important to understand the rules around cancelling or refunding instalment plans:

• No Cancellation or Amendment via Merchant

Once the instalment plan is processed, the merchant cannot cancel or change it. Any early settlement or termination requests must be handled directly with your card-issuing bank.

• Refund Process

If you request a refund for your HRDC Training Course or HRDC Corporate Training, the merchant will refund the amount to Senangpay. However, your bank may still charge processing fees or adjust interest if applicable.

• Bank Liability

Customers remain responsible for any fees or penalties imposed by their bank, even after refunds.

For example, if you decide to cancel your HRDC Corporate Training after paying two instalments, you must contact your bank to settle the remaining balance or discuss termination options.

General Terms and Conditions

Several general rules apply to ensure fair use of the 0% Instalment Plan:

• Fraud Prevention

SKILL FUTURE ACADEMY reserves the right to disqualify any transaction suspected of fraud or violation of the terms.

• Late Payment Responsibility

SKILL FUTURE ACADEMY and Senangpay are not responsible for any late payment fees or penalties charged by your bank if you miss monthly instalments.

• Use for HRD Corp Payments

This instalment plan is particularly useful for those paying for HRD Corp-approved training courses, allowing easier budgeting without upfront full payment.

By following these guidelines, customers can enjoy the benefits of the instalment plan without unexpected issues.

Final Thoughts on Using the 0% Instalment Plan

The 0% Instalment Payment Plan offers a practical way to manage payments for HRDC Training Courses and HRDC Corporate Training. By spreading the cost over several months without interest, it makes professional development more accessible. Using Senangpay for Credit Card Payment simplifies the process, but it is crucial to understand the eligibility, tenure options, approval process, and refund policies.