Credit cards or Debit cards has many uses. But, how many of them are aware that you can shop online using your credit/debit cards and pay later i.e on Installments? There are a few E-commerce websites in UAE, where you can buy a product and pay in installments using your Debit/Credit Cards. Souq.com is one of those E-commerce websites which are well known for payment in Installments mode.
Banks in UAE have started providing EPP i.e Easy Payment Plan on their respective Credit Cards in UAE and Debit Cards for no interest. Souq.com has tied up with the banks in order to provide these offers to Emiratis. One need not get a separate Credit/Debit card to make use of this. They can use their existing cards by activating this plan and purchase required things and pay in installments for 0% interest.
How does this work?
This involves just a few simple steps:
- Put the products you want into the shopping bag.
- Give your contact information
- Confirm the products before you checkout
- In the payment mode, Select “Installments” option
- You need to select your bank in which you have your Debit/Credit Card and give the required details
- Select the number of installments you want to clear the bill.
- Submit Payment
Banks providing 0% Easy Payment Plan are?
1. First Abu Dhabi Bank(FAB)
There are several credit/debit cards provided by FAB and you can activate 0% Easy Payment Plan(EPP) by following the steps below:
- Purchase the products you want to, by selecting “Installments” mode and give your FAB credit card details.
- Call 800 2211 or send “EPP” to 2050 and ask for converting your purchase mode to EPP for a particular tenure 3 or 6 months.
- FAB will convert as per your request and you would receive an acknowledgment in the monthly statement.
Terms and Conditions:
- Minimum purchase of AED 1000 is required.
- For 3 months tenure, 1% of the total amount will be charged as processing fees by the bank.
- For 6 months tenure, 2% of the total amount will be charged as processing fees by the bank.
2. Mashreq Bank
Activate this on your Mashreq bank Credit Card UAE by following the steps below:
- Purchase the products you want to, by selecting “Installments” mode and give your Mashreq Credit Card details.
- Call 044244449 and get your payment converted to 0% EPP else SMS “EASY” to 4250, the bank executives will call you back and process your request.
Terms and Conditions:
- 1% processing fees will be charged by the bank.
- Minimum purchase of AED 1000 is required.
- Tenure is 3 months or 6 months.
3. Abu Dhabi Commercial Bank (ADCB)
Activate this on your ADCB Credit Card by following the steps below:
- Purchase the products you want to by selecting “Installments” mode and give your ADCB Credit Card details.
- Call 800 2030 to get 0% EPP activated.
- Call within 24hrs the transaction is made or anytime before the next billing cycle.
Terms and Conditions:
- Minimum purchase of AED 1000 is required.
- Tenure is 3 months or 6 months.
4. Emirates NBD
Activate this on your Emirates NBD Credit Card by following the steps below:
- Purchase the products you want to by selecting “Installments” mode and give your Emirates NBD Credit Card details.
- Call Emirates NBD customer care and give the required details like
Merchant Name:
Order ID:
Date of Transaction:
Transaction amount:
Tenure:
Terms and Conditions:
- Tenure is 6 months or 12 months.
- Minimum purchase of AED 1000 is required.
- Processing fees AED 49 will be charged by the bank.
5. Samba
Samba provides 0% Samba Installment Plan(SIP) on Samba Credit Card. Follow the steps provided below to get 0% SIP:
- Buy the products required using your Samba Credit Card.
- Email the invoice of your purchase to sip@samba.com with the details like Name, mobile number, transaction details, and order ID asking for the 0% SIP activation.
- The bank representative will call you and process the request.
Terms and Conditions:
- 0% Samba Installment Plan is not available on Samba Al Khair Credit Cards.
- Tenure is 3 months or 6 months.
- Minimum purchase of AED 1000 is required.
- For more details contact 80055000.
6. Emirates Islamic Bank
To activate 0% Easy Installment Plan on Emirates Islamic Credit Card follow the given steps:
- Call 600599995 and provide the required details.
Terms and Conditions:
- Call within 3 days after the purchase is made.
- Processing fees of 2% will be applicable.
- Minimum purchase of AED 1000 is required.
- Tenure is 3 or 6 months.
Points to be noted:
- A customer has to call their bank as soon as after the purchase made else your purchase won’t be considered as 0% EPP.
- If the customer doesn’t call the bank within 1day or before the next billing cycle for the EPP activation banks and souq.com will not convert it into 0% EPP.
You may purchase any product you like, from cosmetics to electronics etc.; the requirement to be eligible for EPP is a purchase of 1000 AED or more than that. Apart from Souq.com, there are few other websites like Homecentre.com, etc where you can get household products, electronics and much more for purchase on installments at 0% EPP. Now citizens in UAE need not worry about the expensive products which they are dreaming of owning it. One can purchase all the things they love and pay in portions for no extra charges.
About the author
Nikitha is a Senior Analyst at MyMoneySouq.com. She has been writing about personal finance, credit cards, mortgage, and other personal finance products in the UAE. Her work on Mortgage loans has been featured by the GulfNews and other popular Financial Blogs in the UAE.
