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What is the HSBC Credit Card Instalment Plan?

The HSBC Credit Card Instalment Plan lets you pay credit card purchases made at accredited merchants in fixed monthly instalments with 0% interest over a certain number of months. This repayment period is also commonly called a "tenor" or "term."

Who is eligible for the plan?

All HSBC credit cardholders in good credit standing are eligible to use the HSBC Credit Card Instalment Plan.

What does 0% interest mean?

When you use the HSBC Credit Card Instalment Plan you don't pay any additional interest or finance charges on the item you purchased. You only need to pay the fixed monthly amount. You can figure out this amount by dividing the purchase price by the number of months in your repayment tenor, which could be up to 36 months.

What happens if my instalment transaction amount cannot be divided equally over the chosen tenor or term?

We'll make the necessary adjustment on the last monthly instalment amount. For example, an instalment transaction amount of PHP10,000 payable over a 3-month tenor would be:

1st of 3 instalments = PHP3,333.33

2nd of 3 instalments = PHP3,333.33

3rd of 3 instalments = PHP3,333.33

Is there a minimum transaction to be eligible for HSBC Credit Card Instalment Plan?

Each of our merchants have tset their own minimum transaction amount to qualify for the HSBC Credit Card Instalment Plan. Some merchants will let you combine several items in order to reach the minimum purchase amount. Ask the merchant for full details on the minimum amount, and whether they allow you to combine items or not.

What tenors are available?

The shortest repayment tenor we offer is 3 months. Some stores offer longer instalment tenors, such as 6 months, 9 months, 12 months, 18 months and above, up to 36 months. Please ask the merchant about your options before making a purchase.

Are all the items in stores available for purchase on instalment?

Our partner stores determine which items may be purchased on instalment. Please ask the merchant about your options before making a purchase.

Will my monthly instalment be shown in my credit card statement?

Yes, you'll see it on your monthly statement just like a regular purchase. It will show the monthly amount to be paid as well as which instalment it is, such as the 3rd of 12 instalments. There's also a special instalment summary section on your statement.

What happens if I can't pay my monthly instalment?

If you're unable to pay the monthly instalment amount by the due date, your account will be past due and will be charged finance and late fees.

If I owe money from other purchases on my card, but I've repaid my HSBC Credit Card Instalment Plan in full, will I be charged interest on my plan?

No. When you make your credit card payments, your plan instalments are paid off first. Any additional money you've paid will then go towards your other transactions.

Can my supplementary cardholders use the HSBC Credit Card Instalment Plan?

Yes. Just remember that any instalment purchases made on your supplementary cards will be posted and/or charged to your credit card account.

How much of the instalment amount counts towards my available credit limit?

You do not have a separate credit limit for your instalment plan, so the entire outstanding amount of the purchase would count towards your credit limit. That means that with each monthly instalment you pay, your credit limit will be replenished by that amount.

Can I earn bonus points for my instalment transactions?

Yes. You earn the bonus points from the time you made the purchase.

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Pay 0% interest for up to 36 months when you use your HSBC credit card at any of our participating merchants.

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HSBC's Card Instalment Plan ("HIP") is the instalment facility of The Hongkong and Shanghai Banking Corporation Limited ("HSBC"), which allows an HSBC credit cardholder ("Cardholder") to purchase select goods and services from accredited HIP merchants in the Philippines using their HSBC credit card ("the Card") and pay for the same, together with applicable interest and other fees, on instalment basis. In certain instances or promotions, HSBC may, at its sole discretion, allow the Cardholder to convert into instalment transaction purchases made using the Card at non-accredited HIP merchants.
The Cardholder agrees that HSBC may at its option require a minimum purchase amount to qualify for HIP.
The Cardholder agrees that the beneficial title to the goods purchased through HIP, including any and all replacements, accessions and accessories thereto, shall remain with HSBC until the total HIP instalment price is paid in full. The Cardholder shall, in the meantime, possess and hold the same in trust for HSBC.
The Cardholder agrees not to alter, return, pledge, mortgage, sell, assign, pawn, lease or part with the possession of the goods without the prior written consent of HSBC and until and unless the Cardholder shall have paid the total HIP instalment price including all other charges that may arise out of the purchase.
The Cardholder acknowledges that the total HIP instalment price plus any Interest ("Handling Fee") from the instalment purchase shall be deducted from the available credit limit on the HSBC credit card account at the time of approval, but shall be posted at Statement billing / cut-off date in fixed equal monthly instalment amounts on each statement of account. The entire monthly instalment amount shall form part of the Minimum Amount Due on each statement of account. The Cardholder shall have the option to pay the Minimum Amount Due, every month. If he does so, or if the Cardholder revolves any portion of the Total Amount Due in any given month, this shall be included in the computation of the Finance Charge and Late Payment Charge (if applicable) for that month. The Cardholder shall be liable to pay these charges, plus any applicable taxes and charges required by the government thereon, over and above the applicable interest due on the instalment transaction. We charge interest starting from the date of the statement cut-off date and is calculated each day until such amount is paid off. We work out interest on a daily basis and add it to the account on your monthly statement date. We charge fees and charges from the date of each transaction that is charged to your account until such amount is paid off.
The use of the Card in connection with HIP shall be subject to the Terms and Conditions governing HSBC's Credit Card Products to the extent not inconsistent herewith.
The Cardholder's availment of HIP shall be considered his/her acceptance of and agreement to be bound by these terms and conditions and such amendments hereof as may be made by HSBC and advised from time to time.
HIP cannot be availed of in conjunction with ongoing HIP Merchant, other HSBC credit card and/or government promotions.
HIP is available in select branches and over select items of the HIP merchant. The HIP Merchants listed in this material are current as of print date. HSBC reserves the right to change the line-up of HIP Partner Merchants participating in the HIP program from time to time. The latest list of HIP merchants may be found at HSBC's website www.hsbc.com.ph. The items included in the 0% Interest Instalment Plan shall be identified in the price tag of the item.
In case of pre-termination or cancellation of the HSBC Card Instalment Plan transaction before the end of the chosen repayment period, HSBC reserves the right to charge to the cardholder's account a processing fee of Five Hundred Pesos (P500).
In case of inconsistency or conflict related to the promo and/or HSBC's Card Instalment Plan, HSBC's decision will prevail.

Updated as of July 2013.

Card Instalment Plan