Credit Cards Easy Installment Plan

The Easy Payment Plan (EPP) allows eligible customers to convert qualifying transactions into equal monthly instalments through Call Centre, subject to these Terms & Conditions and the Bank’s policies.
By applying for or using the EPP service, the customer agrees to be bound by these Terms & Conditions, as amended from time to time.

• The EPP service is available to customers holding an eligible card/account issued by the Bank.
• Only transactions that meet the Bank’s eligibility criteria may be converted.
• The Bank reserves the sole discretion to determine eligibility of customers and transactions.
• The Bank may decline any request without assigning a reason.
• Currently, EPP is available for credit card issued to individuals only. This facility is not available on Corporate Cards.
   

• Only selected retail purchase transactions are eligible for conversion.
• A minimum transaction amount applies for conversion. The Bank may revise the amount at any time.
• The following transactions are generally not eligible (including but not limited to):
  • Cash withdrawals
  • Balance transfers
  • Fees, charges, or interest
  • Reversed or refunded transactions
  • Previously converted transactions
  • Any transactions excluded by the Bank

• Eligible transactions may be converted into equal monthly instalments.
• Available tenures:
  • 3 months
  • 6 months
  • 12 months
  • 24 months
• The Bank may revise available tenures at any time.
• Currently, the plan is offered at:
  • 0% interest
  • 0% processing fee
• 4.5 The Bank reserves the right to introduce or modify interest rates, fees, or charges at any time without prior notice.
• 4.6 Any updates will be published through the Bank’s official channels.
   

• The plan can be requested through Call Centre.
• Once confirmed, the conversion is considered accepted and binding.
• The converted amount will be moved from the original transaction to an instalment plan.
• The Bank is not responsible for duplicate requests submitted by the customer.

• Monthly instalments will be billed as part of the customer’s regular billing cycle.
• The instalment amount will be included in the minimum amount due.
• The customer must ensure timely payment of all dues.
• Failure to pay may result in late payment charges, interest, or other actions per the Bank’s policies.

• The converted transaction amount will remain part of the utilized credit limit until fully repaid.
• Available credit limit will increase progressively as instalments are paid.

• A customer may hold a maximum of three (3) active EPPs at any given time.
• The Bank may change this limit at its discretion.

• The customer may pre-close the plan at any time via Call Centre.
• Upon pre-closure:
  • The remaining outstanding principal will be added to the customer’s utilized balance & will be billed in the next statement as per the ‘Minium Payment Plan’ opted by the cardholder.
  • The amount will become immediately payable.
• Currently, no pre-closure charges apply. The Bank reserves the right to introduce such charges in the future.
   

• If a converted transaction is refunded or reversed:
  • The Bank may adjust the refund against the outstanding EPP balance, OR
  • Credit the refund to the card/account as per internal policy
• The Bank’s decision in such cases shall be final.
   

• New EPP requests will not be allowed on blocked or suspended cards/accounts.
• Existing plans will continue until fully settled.
• The Bank may require full settlement of outstanding EPP amounts before approving card/account closure.

• Failure to pay dues on time constitutes default.
• In case of default, the Bank may:
  • Cancel the plan
  • Add the outstanding balance to the card/account balance
  • Apply interest, fees, or penalties as per applicable terms

• The Bank reserves the right to:
  • Modify, suspend, or withdraw the EPP service at any time
  • Change eligibility criteria, fees, interest rates, or terms
  • Reject or cancel any plan at its discretion
  • Recover any outstanding amounts
• Changes may be implemented without prior notice unless required by law.
• Customers are responsible for reviewing updates published on official Bank channels.

The customer is responsible for:

• Ensuring sufficient funds/limit to meet payment obligations
• Reviewing instalment details before confirmation
• Keeping Mobile Banking credentials secure

The Bank shall not be liable for any loss arising from:

• Customer errors in selecting transactions or tenures
• System downtime beyond the Bank’s control
• Merchant disputes related to the original transaction

These Terms & Conditions shall be governed by the laws and regulations applicable in the Sultanate of Oman.

For assistance, customers may contact the Bank’s Call Center team or visit the nearest branch.

By requesting or using the Easy Payment Plan, the customer confirms acceptance of these Terms & Conditions.