What is a Flexi Instalment Plan?
A Flexi Instalment Plan (FIP) is a great way to get what you need now with your credit card, while spreading the cost over several monthly instalments. It offers:
- a low interest rate
- no processing fees
- no early settlement fees
- repayment from 3 to 36 months
Are there any exclusive plans or offers available?
Yes, for more information and how to apply for these exclusive offers visit our credit card special offers page.
What happens when I apply?
We will evaluate your request based on the most up to date information held on our records, including data available on the Al Etihad Credit Bureau where applicable.
If you're eligible, we’ll let you know how much your equal monthly instalment will be, according to the duration of the plan you apply for. Your monthly instalment will be part of the minimum amount due for payment, and will be outlined on your credit card monthly statement.
The Flexi Instalment Plan is only available to eligible customers based on the information we hold about them, and our internal policies and subject to meeting any minimum amount threshold applicable on a single or multiple transactions.
Will I be charged any fees or interest?
What if I miss a payment?
The monthly instalment amount will form part of your monthly minimum repayment due for your credit card. If you miss a payment, the outstanding instalment amount will become part of the retail outstanding amount on your card. If you fail to pay your credit card minimum repayment by the due date in two consecutive months, the total outstanding plan amount will be added to the total outstanding of your card and will be due in the subsequent monthly statement. The rate will also switch to the applicable purchase rate of the card.
How much of my credit limit will be used as part of the Flexi Instalment Plan?
The flexi instalment amount, any applicable fees and the total interest payable (whether or not this has been billed) as part of this plan will be deducted from your available credit limit.
This means that at any time during the term of the Flexi Instalment Plan your available credit limit must be enough to cover each of these. As each monthly instalment is paid, the respective amount will be restored to your available credit limit.
Can I cancel or early settle the Flexi Instalment Plan? Will I be charged any cancellation or early repayment fees?
You can request a cancellation of the Flexi Instalment Plan within 7 business days of booking the plan. We will cancel the Flexi Instalment Plan and the amount of the plan will be treated as retail spend going forward, as if the Flexi Instalment Plan did not apply. You may be subject to cancelation fees. Please visit our Schedule of Services and Tariffs for all applicable fees and finance charges.
Should you wish to cancel your Flexi Instalment Plan please call us on the number on the back of your card.
You can fully repay the Flexi Instalment Plan before the end of your plan by calling the number on the back of your card and making full payment towards your plan’s outstanding balance. You may be subject to early settlement fees. Please refer to our Schedule of Services and Tariffs for all applicable fees and finance charges.
What are the eligibility criteria to apply for Flexi Instalment Plan?
You must have a HSBC credit card and have made a transaction that you want to convert into a Flexi Instalment Plan.
You may be eligible for Flexi Instalment Plan based on the information we hold on our records and our internal policies. Eligibility is also subject to meeting any minimum amount threshold that might be applicable on a single or multiple transactions.
Criteria may be subject to change.
How can I apply for a Flexi Instalment Plan?
To apply or find out more, you can:
- Log on to the HSBC UAE app.
- Select the credit card you made the transaction(s) with.
- Tap 'Flexi Instalment Plan' and select 'Get started'.
- Select the transaction(s) you want to convert into instalments.
- Choose the repayment plan that works for you and select 'Confirm'.
For our selection of exclusive plans at 0% interest visit the credit card special offers page for more information and how to apply.
I’ve recently applied for a Flexi Instalment Plan and can’t see it on the HSBC UAE app?
It may take up to 5 working days to process and display in your account on the HSBC UAE app. Should you have any queries, please call us on the number on the back of your card.