Spread the cost of your larger credit card purchases using a credit card instalment plan.
The examples show the costs and savings of repaying using a typical instalment plan, compared to repaying it over the same period without an instalment plan.
Example 1
This shows how much you could pay - and save - by repaying the amount shown on an instalment plan, over the period shown, compared to repaying it over the same period without an instalment plan.
| Instalment plan |
No instalment plan |
|---|---|
| Fees | Interest |
| £120 Total monthly fees (6% of the plan amount) |
£222.31 Total interest on purchases (based on fixed monthly payments) |
| The equivalent annual interest rate to the fees is 10.9% |
The simple annual rate used to work out interest is 20% This assumes the credit card APR is 21.9% |
| Monthly payment : £176.66 Including monthly fee |
Monthly payment : £185.19 Fixed payment including interest |
| Total amount to pay: £2,120.00 |
Total amount to pay: £2,222.31 |
| Instalment plan |
Fees |
|---|---|
| No instalment plan |
Interest |
| Instalment plan |
£120 Total monthly fees (6% of the plan amount) |
| No instalment plan |
£222.31 Total interest on purchases (based on fixed monthly payments) |
| Instalment plan |
The equivalent annual interest rate to the fees is 10.9% |
| No instalment plan |
The simple annual rate used to work out interest is 20% This assumes the credit card APR is 21.9% |
| Instalment plan |
Monthly payment : £176.66 Including monthly fee |
| No instalment plan |
Monthly payment : £185.19 Fixed payment including interest |
| Instalment plan |
Total amount to pay: £2,120.00 |
| No instalment plan |
Total amount to pay: £2,222.31 |
Using this example, you’d save £102.31 with an instalment plan.
The above example is for illustrative purposes only. Your actual saving may be more or less than the amount shown, depending on your plan.
There may be a small adjustment to the final monthly payment to reach the ‘Total amount to pay’.
The example may not reflect the standard purchase rate which applies to your account, or the fees which would apply to your instalment plan.
It assumes the following:
- Payments are made in full and on time each month.
- If you don’t have an instalment plan, the same balance is repaid over the same period by making equal monthly payments and there’s no other spend on your card. The amount of interest you actually pay will depend on the rate which applies to your account and the payments you make (when you make them, and their value). For example, if you only make the minimum payment each month, it will take you longer and cost you more to repay the same amount.
Example 2
This shows how much you could pay - and save - by repaying the amount shown on an instalment plan, over the period shown, compared to repaying it over the same period without an instalment plan.
| Instalment plan |
No instalment plan |
|---|---|
| Fees | Interest |
| £30 Total monthly fees (3% of the plan amount) |
£58.51 Total interest on purchases (based on fixed monthly payments) |
| The equivalent annual interest rate to the fees is 10.2% |
The simple annual rate used to work out interest is 20% This assumes the credit card APR is 21.9% |
| Monthly payment : £171.66 Including monthly fee |
Monthly payment : £176.42 Fixed payment including interest |
| Total amount to pay: £1,030.00 |
Total amount to pay: £1,058.51 |
| Instalment plan |
Fees |
|---|---|
| No instalment plan |
Interest |
| Instalment plan |
£30 Total monthly fees (3% of the plan amount) |
| No instalment plan |
£58.51 Total interest on purchases (based on fixed monthly payments) |
| Instalment plan |
The equivalent annual interest rate to the fees is 10.2% |
| No instalment plan |
The simple annual rate used to work out interest is 20% This assumes the credit card APR is 21.9% |
| Instalment plan |
Monthly payment : £171.66 Including monthly fee |
| No instalment plan |
Monthly payment : £176.42 Fixed payment including interest |
| Instalment plan |
Total amount to pay: £1,030.00 |
| No instalment plan |
Total amount to pay: £1,058.51 |
Using this example, you’d save £28.51 with an instalment plan.
The above example is for illustrative purposes only. Your actual saving may be more or less than the amount shown, depending on your plan.
There may be a small adjustment to the final monthly payment to reach the ‘Total amount to pay’.
The example may not reflect the standard purchase rate which applies to your account, or the fees which would apply to your instalment plan.
It assumes the following:
- Payments are made in full and on time each month.
- If you don’t have an instalment plan, the same balance is repaid over the same period by making equal monthly payments and there’s no other spend on your card. The amount of interest you actually pay will depend on the rate which applies to your account and the payments you make (when you make them, and their value). For example, if you only make the minimum payment each month, it will take you longer and cost you more to repay the same amount.
Example 3
This shows how much you could pay - and save - by repaying the amount shown on an instalment plan, over the period shown, compared to repaying it over the same period without an instalment plan.
| Instalment plan |
No instalment plan |
|---|---|
| Fees | Interest |
| £15 Total monthly fees (3% of the plan amount) |
£16.53 Total interest on purchases (based on fixed monthly payments) |
| The equivalent annual interest rate to the fees is 17.9% |
The simple annual rate used to work out interest is 20% This assumes the credit card APR is 21.9% |
| Monthly payment : £171.67 Including monthly fee |
Monthly payment : £172.18 Fixed payment including interest |
| Total amount to pay: £515.00 |
Total amount to pay: £516.53 |
| Instalment plan |
Fees |
|---|---|
| No instalment plan |
Interest |
| Instalment plan |
£15 Total monthly fees (3% of the plan amount) |
| No instalment plan |
£16.53 Total interest on purchases (based on fixed monthly payments) |
| Instalment plan |
The equivalent annual interest rate to the fees is 17.9% |
| No instalment plan |
The simple annual rate used to work out interest is 20% This assumes the credit card APR is 21.9% |
| Instalment plan |
Monthly payment : £171.67 Including monthly fee |
| No instalment plan |
Monthly payment : £172.18 Fixed payment including interest |
| Instalment plan |
Total amount to pay: £515.00 |
| No instalment plan |
Total amount to pay: £516.53 |
Using this example, you’d save £1.53 with an instalment plan.
The above example is for illustrative purposes only. Your actual saving may be more or less than the amount shown, depending on your plan.
There may be a small adjustment to the final monthly payment to reach the ‘Total amount to pay’.
The example may not reflect the standard purchase rate which applies to your account, or the fees which would apply to your instalment plan.
It assumes the following:
- Payments are made in full and on time each month.
- If you don’t have an instalment plan, the same balance is repaid over the same period by making equal monthly payments and there’s no other spend on your card. The amount of interest you actually pay will depend on the rate which applies to your account and the payments you make (when you make them, and their value). For example, if you only make the minimum payment each month, it will take you longer and cost you more to repay the same amount.