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> question about 11street ezypayment, installment

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TSheavensea
post Jun 22 2018, 07:09 AM, updated 6y ago

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Morning guys,
anyone has experience of using 11street ezypayment (6 months 0% interest installment)

Is there any hidden charges that I'd have aware? Or it's "really" zerp interest and divided by 6 months?

What's the benefit of bank offered such service? It sound too good to be true like charity..
idoblu
post Jun 22 2018, 07:13 AM

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I got 12 months interest free installments free from maybank. Yes really zero interest and no fee
TSheavensea
post Jun 22 2018, 07:21 AM

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QUOTE(idoblu @ Jun 22 2018, 07:13 AM)
I got 12 months interest free installments free from maybank. Yes really zero interest and no fee
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Thanks for the feedback, I gonna use maybank card.
haturaya
post Jun 22 2018, 09:12 AM

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QUOTE(heavensea @ Jun 22 2018, 07:09 AM)
Morning guys,
anyone has experience of using 11street ezypayment (6 months 0% interest installment)

Is there any hidden charges that I'd have aware? Or it's "really" zerp interest and divided by 6 months?

What's the benefit of bank offered such service? It sound too good to be true like charity..
*
Exactly zero fees / interest. Beware though if you don't pay on time - hefty interest charges by your CC. sweat.gif That's how the're making extra money. Many people can't even do proper math with their salary. Eventually can't pay in full. Well known financial 'trap'.
clement5949
post Jun 22 2018, 09:15 AM

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yes, 0% interest for maybank card.

but dont ever cancel your order after u paid, it took u 14days to refund the money and until today 15 days, they refund me. Damn it

even tho i know its my fault but no idea why they need to take so long to refund
TSheavensea
post Jun 22 2018, 12:10 PM

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QUOTE(haturaya @ Jun 22 2018, 09:12 AM)
Exactly zero fees / interest. Beware though if you don't pay on time - hefty interest charges by your CC.  sweat.gif  That's how the're making extra money. Many people can't even do proper math with their salary. Eventually can't pay in full. Well known financial 'trap'.
*
Let's say I purchased with ezypayment by today, the subsequent payment will be coming on every 22nd? Or there's different calculation?

QUOTE(clement5949 @ Jun 22 2018, 09:15 AM)
yes, 0% interest for maybank card.

but dont ever cancel your order after u paid, it took u 14days to refund the money and until today 15 days, they refund me. Damn it

even tho i know its my fault but no idea why they need to take so long to refund
*
Thanks for the useful info.
idoblu
post Jun 22 2018, 12:17 PM

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QUOTE(heavensea @ Jun 22 2018, 12:10 PM)
Let's say I purchased with ezypayment by today, the subsequent payment will be coming on every 22nd? Or there's different calculation?
Thanks for the useful info.
*
My first payment was like 4 or 5 months later. I thought no need to pay but eventually the statement for the first payment came.
TSheavensea
post Jun 22 2018, 12:19 PM

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QUOTE(idoblu @ Jun 22 2018, 12:17 PM)
My first payment was like 4 or 5 months later. I thought no need to pay but eventually the statement for the first payment came.
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wow dragged so long, earned opportunity cost of money.
idoblu
post Jun 22 2018, 12:21 PM

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QUOTE(heavensea @ Jun 22 2018, 12:19 PM)
wow dragged so long, earned opportunity cost of money.
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It’s not normal. Usually the next month, the bill will come
haturaya
post Jun 22 2018, 03:10 PM

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QUOTE(heavensea @ Jun 22 2018, 12:10 PM)
Let's say I purchased with ezypayment by today, the subsequent payment will be coming on every 22nd? Or there's different calculation?
Thanks for the useful info.
*
From my experience, it's based on your purchase date, then repeat till finish the instalment. Maybank Infinite card...
morpheus77
post Jun 22 2018, 03:34 PM

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Mine was 6 months interest free installments free from Maybank. 0% interest and no hidden fee.
TSheavensea
post Jun 22 2018, 07:58 PM

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QUOTE(idoblu @ Jun 22 2018, 12:21 PM)
It’s not normal. Usually  the next month, the bill will come
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Noted. πŸ‘

QUOTE(haturaya @ Jun 22 2018, 03:10 PM)
From my experience, it's based on your purchase date, then repeat till finish the instalment. Maybank Infinite card...
*
How do you pay the installment at such "odd" date? Can set standing instructions?

QUOTE(morpheus77 @ Jun 22 2018, 03:34 PM)
Mine was 6 months interest free installments free from Maybank. 0% interest and no hidden fee.
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Thanks for the feedback, but how do you pay the installment at "odd" date? Can set standing instructions?
haturaya
post Jun 22 2018, 08:22 PM

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QUOTE(heavensea @ Jun 22 2018, 07:58 PM)
Noted. πŸ‘
How do you pay the installment at such "odd" date? Can set standing instructions?
Thanks for the feedback, but how do you pay the installment at "odd" date? Can set standing instructions?
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Pay as before that 21 days grace period after the bank issue the monthly statement. As usual. Like buying things using CC. biggrin.gif Don't have to be on the dot.
TSheavensea
post Jun 22 2018, 08:30 PM

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QUOTE(haturaya @ Jun 22 2018, 08:22 PM)
Pay as before that 21 days grace period after the bank issue the monthly statement. As usual. Like buying things using CC.  biggrin.gif  Don't have to be on the dot.
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πŸ‘
xavi5567
post Jun 22 2018, 08:35 PM

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QUOTE(heavensea @ Jun 22 2018, 07:09 AM)
Morning guys,
anyone has experience of using 11street ezypayment (6 months 0% interest installment)

Is there any hidden charges that I'd have aware? Or it's "really" zerp interest and divided by 6 months?

What's the benefit of bank offered such service? It sound too good to be true like charity..
*
Bcos bank wan u to spend... As long u spend u commit to pay them... If u no pay then they will charge u interest lor... Tat how bank earn... They earn from those that can't control themselves... Gave u credit limit sky high like 30k...giv u opportunity to commit multiple instalment.. But those gullible 1 suffer lor.. Spend beyond their mean... Can pay installment... Defer.. Deferred.. Ini bank suka...
TSheavensea
post Jun 23 2018, 01:09 AM

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QUOTE(xavi5567 @ Jun 22 2018, 08:35 PM)
Bcos bank wan u to spend... As long u spend u commit to pay them... If u no pay then they will charge u interest lor... Tat how bank earn... They earn from those that can't control themselves... Gave u credit limit sky high like 30k...giv u opportunity to commit multiple instalment.. But those gullible  1 suffer lor.. Spend beyond their mean... Can pay installment... Defer.. Deferred.. Ini bank suka...
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As long as u spent with "their" card, there's a chance users are default payment anf that's the time bankers cari makan.
Camillo
post Jun 23 2018, 01:13 AM

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QUOTE(heavensea @ Jun 22 2018, 07:09 AM)
Morning guys,
anyone has experience of using 11street ezypayment (6 months 0% interest installment)

Is there any hidden charges that I'd have aware? Or it's "really" zerp interest and divided by 6 months?

What's the benefit of bank offered such service? It sound too good to be true like charity..
*
mahu beli apa?
TSheavensea
post Jun 23 2018, 01:15 AM

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QUOTE(Camillo @ Jun 23 2018, 01:13 AM)
mahu beli apa?
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Telefon bimbit.
haturaya
post Jun 23 2018, 11:02 AM

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QUOTE(xavi5567 @ Jun 22 2018, 08:35 PM)
Bcos bank wan u to spend... As long u spend u commit to pay them... If u no pay then they will charge u interest lor... Tat how bank earn... They earn from those that can't control themselves... Gave u credit limit sky high like 30k...giv u opportunity to commit multiple instalment.. But those gullible  1 suffer lor.. Spend beyond their mean... Can pay installment... Defer.. Deferred.. Ini bank suka...
*
Exactly. That's how they make money. sweat.gif


QUOTE(heavensea @ Jun 23 2018, 01:15 AM)
Telefon bimbit.
*
I bought my Mi 5 nearly 2 years ago using this 0% scheme. 12 months. thumbup.gif Paid religiously every month without any delay. Truly zero interest. Bank 'hates' me whistling.gif because so many things I bought on 11street using this 'facility'. Till now, still no interest on me. sweat.gif

Simple rule of thumbs - If you can buy cash and have the cash in your wallet, then put that cash in some short term saving scheme. Buy the item that you need using zero interest. Gradually pay it while earning some dividend from that saving. thumbup.gif

If you cant' afford to buy cash, then don't commit to it. Hi chances you'll default the payment and pays hefty interest in return. whistling.gif
TSheavensea
post Jun 23 2018, 07:58 PM

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QUOTE(haturaya @ Jun 23 2018, 11:02 AM)
Exactly. That's how they make money.  sweat.gif
I bought my Mi 5 nearly 2 years ago using this 0% scheme. 12 months.  thumbup.gif Paid religiously every month without any delay. Truly zero interest. Bank 'hates' me  whistling.gif  because so many things I bought on 11street using this 'facility'. Till now, still no interest on me.  sweat.gif

Simple rule of thumbs - If you can buy cash and have the cash in your wallet, then put that cash in some short term saving scheme. Buy the item that you need using zero interest. Gradually pay it while earning some dividend from that saving.  thumbup.gif

If you cant' afford to buy cash, then don't commit to it. Hi chances you'll default the payment and pays hefty interest in return.  whistling.gif
*
Ya, I also thinking the same. I'll take the 6 months installment plan + use it at weekend for bonus cash rebates. biggrin.gif

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