Credit Card Instalment Loan Guide: How To Split You Bill With Low Fees

Credit Card Instalment Loan Guide: How To Split You Bill With Low Fees

Credit card installment loans can be your lifesaver when it comes to big purchases, especially when you don’t have enough cash. With credit card installments, you can easily split your credit card transactions or statement balance into 6-60 monthly installments.

In case you don’t know much, MoneySmart has already done the legwork and compiled a comprehensive guide to compare the repayment periods, interest rates, and handling fees of various installment payment credit cards from different banks. So you don’t have to sift through multiple articles or websites to find the information you need. Let’s kick things off!

Table of Contents

  1. Credit card installment loan comparison
  2. HSBC credit card spending installment loan
  3. Hang Seng Bank credit card installment loan
  4. Standard Chartered Bank credit card installment loan
  5. DBS credit card installment loan
  6. Mox spending installment loan
  7. Notes on applying for credit card installment payments
  8. Credit card installment payment vs. personal loan vs. balance transfer: Which is more cost-effective?
  9. Should I apply for debt consolidation loans or credit card installment payments for my card debts?
  10. FAQ: Credit card spending installment loan

Credit card installment loan comparison

If you need a quick financial boost for short-term expenses like education fees, the cost of moving to a new flat, or a big purchase, credit card installment plans (but not smart for impulsive purchases!) can be a good option to save the day.

Here is the credit card installment plan comparison in Hong Kong.

Credit Card Installment Plans Comparison in Hong Kong
Bank Plans Installments Monthly Handling Fee One-off Installment Fee Note Credit Cards Available
HSBC Spending Installment Plan 6-60 months 0.18% Depends on eligibility Apply via HSBC HK App, the Reward+ app, or by phone at +852 2233 3052 HSBC Red Credit Card
Hang Seng Bank One-off Handling Fee Plan 3, 6, or 12 months 3-month installment plan with no handling fee for new customers. Available to customers who do not have a outstanding balance Hang Seng MMPower Credit Card, Hang Seng enJoy Card
Hang Seng Bank Monthly Handing Fee Plan 3-60 months 0.18% Apply via Hang Seng Personal e-Banking or by hotline 852+2998 6868.
Standard Chartered Bank Credit Card Statement Installment Plan 6-60 months 0.15% Apply via mobile app Standard Chartered Smart Card
DBS Flexi Shopping: One-off Handling Fee 3-60 months Depends on eligibility Apply via DBS Card+ app or hotline at +852 2233 1888 DBS Live Fresh Credit Card, DBS Black World Mastercard
DBS Spending Installment Plans 3-24 months 0% HK$0 Apply via DBS Card+ app or hotline at +852 2233 1888
MOX Split Purchase 3-60 months 0% HK$0 It costs what you split. No extra cost charged. Mox
Information Updated as of June 28, 2023

A quick tip: keep in mind that these credit card installment plans are often advertised as “interest-free” or “low-interest.” Still, in reality, they often come with handling fees and one-time administrative fees. So, don’t forget to read the terms and fees carefully before applying.

HSBC credit card with installment loan

If you need to stretch out your credit card expenses over a longer period of time, HSBC’s Spending Installment Plan has got you covered. With a minimum application amount of HK$1,000, you can convert multiple transactions into installments that you can repay over 6 to 60 months.

Repayment Period Annualized Percentage Rate Handling Fee
6 months 3.76% Depends on eligibility
12 months 4.04%
18 months 4.13%
24 months 4.17%
30 months 4.19%
36 months 4.20%
42 months 4.20%
48 months 4.20%
54 months 4.20%
60 months 4.19%
Information Updated as of June 28, 2023

Take an example to better illustrate how the interest is calculated: if you pay HK$50,000 in 12 monthly installments, you’ll pay back HK$51,080 in total. The annual percentage rate (APR) for this HSBC plan is 4.04%.

Note: The fees and rates may vary depending on the customer’s eligibility. The rate may be different for a cardholder or additional cardholder under different accounts or primary card accounts.

How to apply for a HSBC credit card loan? Apply via the HSBC HK App, the Reward+ app, or by phone.

Does it have an early repayment fee? If you pay back the amount early, you will need to pay an early redemption penalty, which includes:

  • the monthly handling fees for the remaining period under the installment plan
  • any interest for the same period
  • an administration fee of HK$300

HSBC Visa Signature Card

HSBC logo
Min. Annual Salary
Cash back on local spend
Up to 3.6%
Miles Conversion (local spend)
HK$2.78 = 1 Mile

How can we miss Red Hot Rewards of Your Choice when it comes to HSBC credit cards? Simply put the extra 5X RewardCash and the extra 3X RewardCash of this card into a certain spending category, and you can earn up to 3.6% cash rebates or HK$2.78/mile with no minimum spend.

HSBC Red Credit Card

HSBC logo
Min. Annual Salary
Cash back on Online purchases
Cash back on Supermarket purchases

HSBC Red Credit Card is the card you need for online shopping. You can enjoy up to 4% ultimate RewardCash rebate for online spending and 2% RewardCash rebate for spending at the supermarket. RewardCash could be used to redeem air miles or offset monthly spending and single transactions. Plus, a perpetual annual fee waiver is here for you.

Hang Seng Bank credit card with installment loan

Hang Seng Bank’s Credit Card Installment Loan has two plans to offer: the one-off handling fee plan and the monthly handling fee plan. Here is the breakdown of each plan:

One-off handling fee plan

Hang Seng Bank offers a one-off handling fee plan for selected customers who have not held any installment plan, i.e., have no outstanding balance with Hang Seng Bank. With instant approval, you can repay the loan in either 3, 6, or 12 months. And the loan is available until July 24, 2023.

Here is the breakdown of the one-off fee plan’s charges:

Hang Seng Bank Credit Card Installment Loan: One-off Handling Fee Charges
Approved Installment Amount One-off Handling fee For 3-Month Plan One-off Handling Fee for 6-Month Plan One-off Handling Fee for 12-Month Plan
HK$800-HK$2,999 HK$0 HK$20 HK$40
HK$3,000-HK$5,000 HK$0 HK$50 HK$100
HK$5,001-HK$10,000 HK$0 HK$100 HK$200
HK$10,001-HK$20,000 HK$0 HK$150 HK$300
HK$20,001-HK$30,000 HK$0 HK$250 HK$500
HK$30,001-HK$40,000 HK$0 HK$300 HK$600
HK$40,001-HK$50,000 HK$0 HK$400 HK$800
HK$50,001-HK$60,000 HK$0 HK$500 HK$1,000
HK$60,001-HK$80,000 HK$0 HK$600 HK$1,200
Information Updated as of June 28, 2023

Monthly handling fee plan

Hang Seng Bank’s monthly handling fee installment plan with a personalized monthly handling fee as low as 0.18% is available to all qualifying customers. The plan offers a longer repayment period of 3-60 months and is available until July 24, 2023.

How to apply? If you are interested, you can easily check if they are eligible either through Hang Seng Personal e-Banking or by calling 852+2998 6868.

Hang Seng MMPOWER World Mastercard

Hang Seng Bank logo
Get 5% +FUN dollars on designated spending
Annual fee
Perpetual annual fee waiver
+FUN Dollars rebate on selected spending categories
+FUN Dollars rebate on online retail transaction

The brand new MMPOWER World Mastercard is offering 5% +FUN Dollars rebate on online retail transactions and a 5.4% +FUN Dollars rebate on selected spending categories: Mobile payment, Dining, travel, foreign currency, electronics, and Entertainment. It’s the perfect card for daily expenses.

Hang Seng enJoy Card

Hang Seng Bank logo
Up to 4x Points to spend as cash
Annual fees
Perpetual annual fee waiver
Cash back on local spend
Welcome Offer
Up to 120,000 yuu Points

Hang Seng enJoy Card targets daily spending rebates. You can earn 4X Points (equivalent to 2% rebate) at Pizza Hut, PHD, KFC, and designated Maxims Group restaurants and outlets; 3X Points (equivalent to 1.5% rebate) at Wellcome, Mannings, IKEA, and 7-Eleven; and 2X Points (equivalent to 1% rebate) at GNC, Shell, and other designated Maxims Group restaurants and outlets.

Standard Chartered Bank credit card with installment loan

Standard Chartered Bank lends a helping hand to clients in need. With the SC Mobile app or online, you can apply for an installment loan if you fit their requirements:

  • The minimum loan amount is HK$500
  • A tenor period ranging from 6 to 60 months
  • A monthly handling fee of 0.15%
  • Early repayment before the agreed-upon period ends will cost you HK$150 per item.

The interest rate for the loan will depend on the timing of the application. Applying for the loan before the monthly credit card statement is issued can get you a lower interest rate.

Here is the reference for loan interest APR:

Transaction Amount Apply for the installment loan before the issuance of credit card statement Apply for the installment loan after the issuance of credit card statement
6 month 3.12% 3.31%
12 month 0.37% and 3.36% (with and without cash rebate) 0.38% and 3.46% (with and without cash rebate)
18 month 3.44% 3.51%
24 month 3.47% 3.53%
Information Updated as of June 28, 2023

Standard Chartered Bank installment loan cash rebates offer

SCB is offering cash rebates to clients who take out a loan of HK$5,000 or more, but certain requirements apply:

  • Standard Chartered credit card or co-branded cardholders (excluding UnionPay Dual Currency Platinum Credit Card RMB account holders and Corporate Card holders) can apply for the Plan.
  • Each Statement Installment Transaction must be at least HK$500 (only applicable to new retail purchases charged to a single account). Transactions charged to different accounts cannot be applied to the same Plan.
SCB Installment Loan Cash Rebate Offer
Loan Amount Cash Rebate
HK$5,000-HK$14,999 HK$50
HK$15,000-HK$24,999 HK$200
HK$25,000 or above HK$500

Standard Chartered Bank credit card

Standard Chartered logo
MoneySmart Exclusive
5% rebate|Waive foreign exchange fee
Cash back on spending at designated stores of HKTVmall
Cash back on local spend
MoneySmart Exclusive Offer
as high as $3,288
MoneySmart Exclusive:

【SC Smart Card Offer: Total rewards amount is as high as HK$3,288!】 New Cardholders who successfully apply for Standard Chartered Smart Card now via MoneySmart to get extra HK$1,000 Apple Store Gift Card or HK$1,000 PARKnSHOP supermarket vouchers or Samsung Galaxy Tab A9+ (retail value: HK$1,788)From now to 31 December 2023, enjoy 8% cashback at PARKnSHOP and its designated retail stores and PNS eSHOP. 

[Referral Program] After applying for the card, get extra HK$300PARKnSHOP supermarket vouchers by referring each relatives and friends to apply as well! The more you refer, the more rewards you get! 

Valid until 30 Nov 2023

Standard Chartered Bank Smart Card: 3-month interest-free installments

The Standard Chartered Bank Smart Card offers interest-free installments for its cardholders. For any transaction above HK$500, you can split your credit card bill into 3 monthly installments with just a few clicks. There are no interest charges or handling fees for this service.

However, please note that the bank will deduct HK$1 cashback from the 360° Rewards Redemption Platform for every HK$180 installment amount applied. For instance, if you apply for an installment amount of HK$9,000, the bank will deduct HK$50 in cashback. (HK$9,000/HK$180)

DBS credit card with installment loan

Among all installment loan plans, DBS offers the most versatile credit card installment loan plans: Flexi Shopping, Pay in Installments, and Merchant Interest-Free Installment Loan.

DBS Credit Card Installment Loan Plans
Type of Flexi Shopping One-Off Handling Fee Plan Monthly Interest Plan
Transaction Amount HK$500-HK$300,000 HK$2,000 or above
Tenor 3, 6, or 12 months 6 to 60 months^. For transactions of HK$300,000 or below, 18 to 60 months are available. For transaction amounts above HK$300,000, 6- to 60-month installments are available.
Application Channel 1. Via DBS Card+ app
2. Via application hotline: +852 2233 1888*
1. Via DBS Card+ app
2. Via application hotline: +852 2290 8333

DBS Flexi Shopping: One-off Handling Fee Plan

With the DBS Credit Card, you can apply for Flexi Shopping via the Card+ app and enjoy the flexibility of choosing installment plans ranging from 3 to 60 months. You can even combine multiple credit card transactions into a single installment plan. For purchases of HK$500 or more, you can split your payment with a one-off handling fee as low as HK$20.

The following is the Flexi Shopping One-off Handling Fee Overview:

DBS Flexi Shopping One-off Handling Fee
Installment Application Amount 3-Month Installment Period 6-Month Installment Period 12-Month Installment Period
HK$500-HK$2,000 HK$20 HK$40 HK$75
HK$2,001-HK$5,000 HK$45 HK$55 HK$120
HK$5,001- HK$10,000 HK$65 HK$110 HK$220
HK$10,001-HK$20,000 HK$130 HK$220 HK$400
HK$20,001-HK$30,000 HK$210 HK$380 HK$700
HK$30,001-HK$40,000 HK$300 HK$520 HK$950
HK$40,001-HK$50,000 HK$370 HK$640 HK$1,200
HK$50,001-HK$60,000 HK$450 HK$800 HK$1,500
HK$60,001-HK$100,000 HK$650 HK$1,200 HK$2,200
HK$100,001-HK$150,000 HK$1,020 HK$1,800 HK$3,250
HK$150,001-HK$200,000 HK$1,500 HK$2,500 HK$4,600
HK$200,001-HK$250,000 HK$1,800 HK$3,300 HK$6,000
HK$250,001-HK$300,000 HK$2,000 HK$4,000 HK$7,000

DBS Flexi Shopping with a monthly interest fee plan

Flexi Shopping introduces another option—the monthly interest fee plan. This plan allows you to split your spending into 6 to 60 monthly installments, with a personalized preferential monthly rate as low as 0.19%.

How to apply for the monthly interest fee plan? You can apply for this plan when you accumulate as little as HK$2,000 in spending on your credit card statement. Then, apply through the DBS Card+ app or by calling their hotline at +852 2290 8333, and enjoy tenors ranging from 3 to 12 months.

Pay in installments with DBS credit cards

With DBS Credit Cards, you can enjoy the perk of splitting your payments to designated merchants into 3, 6, 12, or 24 monthly installments without any extra charges. So you can continue to live for your passion without overstretching your budget! What makes it special is that you can just pay and go; no extra sign-ups are required!

What makes a purchase eligible for “Pay in Installments”?

  • Pay with DBS Credit cards
  • Any transaction of HK$500 to HK$300,000
  • For in-store and online purchases from designated merchants
    • The Murray Hotel,
    • Private I Salon,
    • Nail Nail,
    • Kids Gallery,
    • Av Home, And
    • Ps Professional Hair Care Centre.

How to apply for Pay in installment with DBS Credit Cards

To pay for your purchases in installments with DBS Credit Cards, all you have to do is tell the shop assistant that you’d like to use Pay in installments. Then, choose your preferred installment period, and voila! Each installment will be debited from your card account just like a regular purchase, and you can settle it in the same manner. It’s that easy!

A quick tip: if you repay your credit card installment loan before the agreed-upon period ends, the bank will levy a HK$150 charge per item. So make sure not to jump the gun and settle early!

Merchant interest-free installment loan

There are interest-free installment loans offered by merchants that offer 0% interest and no handling fees on installment plans ranging from 3 to 24 months.

Check out the following list of merchants that offer interest-free installment loans for DBS credit cards:

Merchants With Interest-Free Installment Loans for DBS Credit Card Holders
Category Merchants
Electronic Appliances & Telecom Fortress, Suning, Wilson Communications, Chung Yuen Electrical, Cheung Mao Kee Electrical, Sony Store, 3HK, SmarTone, Telecom Digital, and CSL
Leisure YATA, SOGO, OTO, OGAWA, OSIM, Tom Lee, Pricerite, TMF, HK School of Motoring, Brand Off, Hannah
Jewellery & Watch Chow Sang Sang, Chow Tai Fook, Luk Fook Jewellery, C.S.S. Jewellery, TSL Jewellery, Prince Jewellery & Watch, Emphasis, King Fook Jewellery, Man Fook Gold & Jewellery, MaBelle, My Jewellery
Health & Beauty DR Reborn, Bella, Oasis Beauty, Glycel, Dermes, Angel Face, Reenex Clinique, Modern Beauty, Elyse Clinique, Ingrid Millet, Slim Beauty, Pure Yoga, Physical (Fitness & Beauty)

DBS Black World MasterCard

DBS logo
MoneySmart Exclusive
Redeem various mileage points without any fee
Welcome Offer
Up to 42,000 miles
Upon meeting local and overseas spending goal*
Miles Conversion (overseas spend)
MoneySmart Exclusive:

From now until 30 November, customers who successfully apply for DBS Blackworld Mastercard via MoneySmart, can enjoy 🆕HK$500 Uber e-voucher/ HK$500 Apple Store Gift Card/ Klook Voucher/ PARKnSHOP Supermarket Voucher! You can also earn the bank welcome offer of up to 42,000 miles at the same time!

Apple fans - Attention!】Shop at Apple Store with Flexi Shopping: Save on handling fees in 6 to 60-month instalments and get a chance to win a 100% cash rebate on Apple Store spending!

Valid until 30 Nov 2023

DBS Black World MasterCard offers you HK$4/mile for overseas spending all-year. Plus, you can redeem air miles such as Asia Miles, Avios, KrisFlyer, and Phoenix Miles for free with the never-expired points. This card gives you discounts at Expedia, Agoda, Zuji, and

Mox spending installment loan

Mox logo
Bank Promo
Min. Rate
Saving Rate
Minimum Initial Deposit

Mox offers more than just a debit card; it has its own Mox Credit that works just as well. This new way of spending allows you to switch spending from your debit account to Mox Credit in just a few clicks. You can enjoy more financial flexibility when it comes to spending on credits with Mox.

More than that, Mox offers two types of spending installment loans: Split purchases and Split Statements, so you can easily split your payments.

Mox Merchant Split Purchase

“Merchant Split Purchase” is the credit card installment payment solution that splits your purchases into 3-60 monthly installments with 0% interest and 0 fees. Plus, you can split as many purchases as you want and enjoy unlimited 1% cashback.

3 steps to apply for a Split Purchase

Need to split your Mox Credit transaction into smaller monthly payments? No problem!

  1. Just open the Mox app
  2. Go to “Activity” session
  3. Select an eligible transaction of HK$400 or more, tap ‘Split now’ and choose the number of months you’d like to spread the cost over. You can even combine multiple transactions!

To ensure everything’s on track, head to the ‘Activity’ page in the app to verify that your Split Purchase has been successfully applied.

Mox Split Statement

Similar to Mox’s Split Purchase, you can split your statement balance of HK$2,000 or more into smaller monthly payments once the statement is released or up to three days before the payment due date.

3 steps to apply for a Split Purchase

  1. Open the Mox app and select “Credit”
  2. Tap “Apply now” next to “Split Your Statement”
  3. Follow the instructions on the screen to finish your application.

To use Mox’s Split Statement service, make sure to apply via the app after the credit statement is released but before the balance is settled.

Notes on applying for credit card installment payments

If you’re considering getting a credit card installment loan, there are a few things you should know:

When to apply for a credit card loan?

Make sure to give your card issuer a buzz 2 to 10 days prior to your bill’s due date to apply for a credit card loan. Once approved, you’ll be able to break down your payment into 6 to 60 monthly installments, but be aware that the interest fees can be a one-off or a monthly plan, depending on your credit card.

Handling fees

Many credit card installment payment plans attract customers with “interest-free” or “low-interest” offers, but in reality, they may charge handling fees and one-time administrative fees. Therefore, before applying, it is best to spend some time comparing platforms such as MoneySmart or calling the bank to understand the relevant charges and avoid exceeding your budget.

Minimum spending amount

Credit card installment payment plans require a minimum spending amount to enjoy the lowest handling fee, and note that the monthly handling fee may change depending on the individual’s credit account status.

Early repayment fees

Some cardholders may plan to repay their loans early to save on interest charges. However, early repayment may not necessarily save money because of early repayment fees. You can first inquire with the bank about early repayment fees and other fees before deciding whether to repay early.

Credit card installment payment vs. personal loan vs. balance transfer: Which is more cost-effective?

Credit Card Installment Payment, Personal Loan, and Debt Consolidation Loan Comparison
  Credit Card Installment Payment Personal Loan Debt Consolidation Loans
Purpose Repaying small expenses No restrictions Consolidating debts
Application Time Slower If you need money quickly, personal loans are quicker to approve Slower
Loan Amount Generally ranges from a few thousand to tens of thousands of dollars 10 times or more of the monthly salary 10 times or more of the monthly salary
Interest Roughly 4-5% Roughly 1-8% Roughly 1.1-10%
Application Method No additional documents are required. Applied online/over the phone Identification, address, and income proof are required Identification, address, and income proof are required

Should I apply for debt consolidation loans or credit card installment payments for my card debts?

Dealing with multiple credit card debts can be a daunting task. If paying them off in one go is not feasible, credit card installment payments may seem like a viable option. However, beware of the higher interest rates that come with it. If left unattended, the interest can spiral out of control. In such cases, debt consolidation loans may offer a better solution. The key advantage of debt consolidation loans is that they have lower monthly interest rates than staggering credit interest rates.

So, Which one should you choose? Debt consolidation loans or credit card installment payments?

If you’re dealing with credit card debt, you may be considering whether to use credit card installment payments or debt consolidation loans.

Credit card installment payments can be a suitable option for those with a small amount of debt, but if you have accumulated a significant amount of card debt, debt consolidation loans can save you more interest. Additionally, some debt consolidation loans offer customized repayment plans to make the process of repayment easier than credit card installment payments.

Ultimately, it’s important to carefully evaluate your options and choose the solution that best fits your financial situation.

DBS logo

Monthly Payment


Monthly Payment
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Loan amount up to HK$2,000,000
Total Amount Payable
Total Interest Payable
Monthly Payment
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During Flash Sales (21-30 November), Both new and existing customers who successfully apply and drawdown DBS Debt Consolidation Loan via MoneySmart can get up to HK$18,800 rewards. But that's not ALL! Customers could also get an extra MoneySmart exclusive reward: up to HK$10,500 cash vouchers or [New!] The New iMac 24-in. (M3) or iPhone 15 256GB or iPad Pro 11-in. (4th generation) Wi-Fi 128 GB! With the DBS coupon, the total rewards can be elevated up to HK$31,799!

Valid until 30 Nov 2023
AEON Credit Service logo

Monthly Payment


Monthly Payment
Bank Promo
Total Amount Payable
Total Interest Payable
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Promise logo

Monthly Payment


Monthly Payment
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Total Amount Payable
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WeLend logo

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4 tips for responsible borrowing

Before applying for any types of credit, consider the following tips for responsible borrowing.

  • Know your financial situation, daily expenses, and actual borrowing needs.
  • Assess your ability to repay and avoid borrowing more than you can handle.
  • Always repay outstanding balances on time to avoid late fees and additional interest.
  • To borrow or not to borrow? Borrow only if you can repay it.

FAQ: Credit card spending installment loan

What is a credit card installment loan?

Installment plans are a simple way to spread the cost of larger purchases by repaying them in regular installments over a period of your choice. In simple words, buy now, pay later

A quick tip here is that some banks don’t charge interest for such installment loans, but be aware of the monthly fees instead.

When to apply for credit card installment loans?

Credit card installment loans can be applied for 3 to 10 working days before the due date of the credit card statement after completing the transaction.

Tips: In fact, you can check whether the merchant provides installment payment services before purchasing any product. If the merchant can provide installment services, you only need to choose the installment payment and repayment period when making the payment.

How does a credit card installment loan charge?

Applying for installment loan may require paying additional handling fees and interest, usually charged monthly or as a one-time fee when the bill is cleared. The amount of the handling fee will vary according to the customer’s credit limit and transaction amount. The repayment period ranges from 3 to 60 months.

Related Article

Here is your cash back credit card selection that can save you some dollars while you’re indulging in your shopping spree!

Do you know that credit card annual fee can charge you up to HK$2,000 per year? Wanna get tips to waive your credit card, check out the Best Credit Cards With No Annual Fee.

Wanna stay ahead of the herd? Let’s check out the MoneySmart blog for more financial tips!

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