Flexible ways to
manage your credit card

With BOQ Instalment Plans, you can break your purchases into manageable monthly instalments over a set term from 1-5 years.1

Our Instalment

Statement Instalment

Break your credit card balance into monthly instalments

Ideal for large and seasonal purchases, this lets you convert credit card purchases on your current statement balance into a single Instalment Plan at a personalised fixed rate.

Transaction Instalment

Convert eligible retail purchases into an Instalment Plan

From home essentials to luxury goods and wellbeing packages, break big eligible purchases on your credit card into smaller payments at a personalised fixed rate over a set term.

Cash Instalment

Access cash from your credit card

For big or unplanned expenses, access $500 or more within your available credit limit at a fixed rate and pay it down over a set term.

Benefits of
BOQ Instalment

Easier to budget

Having a consistent repayment amount of your Instalment Plan will help you work out your budget.

More than one Instalment Plan

You can have multiple Instalment Plans on one credit card as long as each request is within your available credit limit.

Keep your interest free days2

You can still enjoy interest-free days on your other purchases made outside the Instalment Plan as long as you continue to pay off your closing balance for the purchases in full each month.

Frequently asked questions

What is an Instalment Plan?
Is the Instalment Plan amount part of my existing credit card limit?
Can I have more than one Instalment Plan?
Is there an Instalment Plan fee?
How do I make the Monthly Instalment repayment?
How does my Instalment Plan appear on my statement?
Do I keep my interest free period with an Instalment Plan?
What happens if I fail to make a Monthly Instalment repayment by the Payment Due Date?
Can I change the term of my Instalment Plan?
Can I cancel my Instalment Plan anytime?

Things you should know
  • 1BOQ Instalment Plans are defined in the Credit Card Terms and Conditions as a Fixed Payment Option. Fixed Payment Option offers are subject to eligibility and only available if your account is and remains in good standing (for example – your account is not in default, suspended or closed). Your Fixed Payment Option uses part of your existing credit limit. As you pay off your Fixed Payment Option, the amount you pay off will become available for you to use again as part of your credit limit at the standard Annual Percentage Rate applicable to your account.

    If you fail to pay the Minimum Payment Due or any other amount by its payment due date, we charge interest on any unpaid instalment, instalment fee or initial interest charge component (and any interest calculated on any of them, and any interest on that interest) from the day after the payment due date. It will be calculated using the daily retail rate and the daily calculation method until they are repaid in full. We may also cancel the Instalment Plan. We will tell you if an instalment amount is overdue before we cancel the Instalment Plan(s).

    For the full terms and conditions of your Fixed Payment Option, please refer to the Credit Card Terms and Conditions and Other Important Information.