Monday, 16 July 2018, 3 Zulkaedah 1439H Solat Time:
KL Imsak 5:38 | Subuh 5:48 | Syuruk 7:10 | Zohor 1:22 | Asar 4:46 | Maghrib 7:30 | Isyak 8:45

Installment Payment Plan (IPP)


  1. The Installment Payment Plan (IPP) is opened to all Principal & Supplementary ofBank Islam Visa & MasterCard Cardmembers (“Cardmembers”) (except Visa Debit) residing in Malaysia with a valid Card Account. The Cardmember’s account must be in current status and with sufficient financing limit for the execution of IPP.
  2. The Cardmembers can choose up to 36 months installment plan (depending on the agreement of the individual participating merchant partners with Bank Islam Card Centre (BICC) subject to the minimum amount (in single receipt) as follows:
    IPP(in months) Minimum Amount (RM)
    03 150
    06 300
    12 600
    18 900
    24 1,200
    36 1,800
  3. Upon approval of IPP application, the full installment plan amount will be blocked at the point of application. BICC will debit Cardmember’s Card Account with the installment payable on a monthly basis, for the duration as stipulated above. Cardmember’s available financing limit will be provisionally reduced by earmarking an amount, equivalent to the Purchase Amount which will not be available to Cardmembers, but will be progressively restored on a monthly basis as payment of each installment amount is made.
  4. The Cardmembers who are subscribed to IPP shall be bound by the terms and conditions governing the use and operation of the Bank Islam Card Account, in addition to the terms and conditions herein.
  5. The merchant partners appointed by BICC as principal merchant(s) are responsible in making available the products and/or services (items) on IPP and be responsible for the sale and delivery of the respective item(s). BICC will not be responsible for any loss or damage arising from late or non-delivery. BICC is only providing means of payment for these goods and/or services via the usage of Bank Islam Card.
  6. BICC shall effect the necessary payments and/or periodic payments by charging the Bank Islam Card of the Cardmember for all payments pursuant to this plan, to the respective principal merchant(s). BICC disclaims any liability or duty relating to the item(s), which is/are sold and supplied to the Cardmember by the principal merchant(s) who is/are solely responsible for all obligations and liabilities relating to the supply, sale, merchantability, warranty and all ancillary services whatsoever in respect to the item(s).
  7. The details and particulars provided by the Cardmember in the Order Form shall be deemed final and irrevocable.
  8. Fulfillment of the purchase order is subject to stock availability, sufficient Financing Limit in the Card Account of the Principal Cardmember and acceptance by BICC and the principal merchant(s).
  9. Upon acceptance of the order, BICC shall debit the Financing Limit for the purchase price of the item(s) which shall be charged to the Cardmember’s Card Account of the Principal Cardmember. The transaction details will appear on the card monthly statement of account of the Cardmember.
  10. Cardmember shall pay for all the items in a single payment or in 3, 6, I2, 18, 24 or 36 equal monthly installments as provided by BICC under IPP.
  11. The installments, if not settled on or before the payment due date, shall be subject to the normal Profit Charge rate of 13.5% – 17.5% per annum, calculated on daily rest imposed on all outstanding balances from the stipulated Due Date.
  12. For payment of the item(s) by installments, upon acceptance of the IPP, the Cardmember hereby agrees with BICC as follows:
    1. BICC is authorised by the Cardmember to make payment to the principal merchant(s) immediately on acceptance of the IPP;
    2. The monthly installment shall be charged & included in the Bank Islam Card monthly statement on the date of approval until full settlement of the IPP. The monthly installment is inclusive in the outstanding balance of Bank Islam Card and the Cardmember shall pay the minimum payment of 5% from the outstanding balances (if any). The monthly installment is treated as a normal retail transaction where 20 days profit free from the date debited to card statement and normal profit rate of 13.5% to 17.5% be applied on the monthly installment should the remaining balance remain unpaid; and
    3. In the event that the Financing Limit of the Cardmember has exceeded when the installment payable is charged to the Cardmember’s Card Account as aforesaid, the Cardmember shall take all necessary actions to regularise the Card Account before the next monthly installment is due. Failing which, all outstanding installments or balance of monies owing under the arrangement herein shall immediately become due and payable by the Cardmember and shall be charged to the Card Account without further reference to the Cardmember.
  13. In the event of a default of payment of any monies due under the Card Account or breach of any provisions of the Cardmember Agreement and/or any of the terms and conditions stated herein by the Cardmember and/or cancellation of the Bank Islam Card-i and/or termination of the Card Account for any reason whatsoever, the Cardmember agrees as follows:
    1. All outstanding installments or balance of monies owing under the arrangement herein shall immediately become due and payable by the Cardmember and shall at the absolute discretion of BICC be charged to the Card Account whereupon the terms and conditions in the Cardmember Agreement shall apply to all the said installments or balance; and
    2. BICC reserves the right to terminate the monthly installment arrangement.
  14. Goods And Services Tax (“GST”)
    1. In this Clause:-
      1. “GST Act” refers to the Goods and Services Tax Act 2014 and shall include any by-laws, instruments, orders, rules and regulations made thereunder.
      2. Any words and expressions which have a defined meaning in the GST Act shall have the same meaning as the GST Act.
    2. This Clause shall only apply upon the implementation date of the GST Act in Malaysia. It is acknowledged and agreed that this Clause may be subsequently revised by the Bank to be in compliance with the prevailing GST Act at the material time.
    3. Unless otherwise expressly specified in this document/Agreement any sum payable to the Bank, being the consideration under or in connection with this document/Agreement, is exclusive of GST (“GST-exclusive consideration”).
    4. The consideration for such taxable supply shall be increased by an amount calculated as follows:- A x R Where: A is the consideration payable for the taxable supply: and R is the applicable rate of GST prevailing at the time of supply (hereinafter referred to as the “GST Amount”).
    5. If and adjustment arises in connection with any taxable supply nade or deemed to be made under or in connection with this document/Agreement, the GST Amount payable for such taxable supply will be recalculated to reflect the adjustment event and the payment for the difference thereof will be made to the Bank or by the Bank, as the case may be.
  15. For delivery, the Cardmember must stipulate the full details of the address which shall be deemed as confirmation of acceptance. There is strictly no trial period extended for the item(s) purchased. The item(s) will not be delivered to addresses bearing a post office box number and/or an overseas address. Hand collection or delivery to BICC or any Bank Islam branches is not allowed.
  16. BICC shall not take delivery of the item(s) returned by the Cardmember for any reason whatsoever. BICC shall further not be responsible for any item(s) that is/are lost, stolen or damaged whatsoever.
  17. The Cardmember is advised to check with the respective merchant(s) on the conditions of the warranty and the warranty period. A Warranty Card is provided with the item(s), where applicable. BICC makes no representation or warranty in respect of the item(s) in particular, its merchantability, quality, suitability for use and all ancillary services. For services and repairs, the Cardmember shall contact the respective merchant(s) directly.
  18. For returned parcel (unsuccessful delivery), the Cardmember shall be liable for the delivery charges for requests to resend the parcel, by undertaking to authorise BICC to debit the Card Account for the cost of delivery. The Cardmember understands fully that this will be done on a best-effort basis and the Cardmember must accept the item(s) in whatever condition and absolve BICC from all responsibilities should the item(s) be damaged whatsoever in the delivery process. No replacement item(s) will be allowed under any circumstances or for any reason whatsoever.
  19. Delivery will be arranged within the time frame as stipulated by the respective principal merchant(s) from the date of receipt of the Order Form subject to the availability of stock.
  20. The terms and conditions herein are in addition to the terms and conditions in the Cardmember Agreement applicable to the Card Account and in the event of inconsistency between these terms and conditions and the said Agreement, these terms and conditions shall prevail in so far as they apply to the Installment Payment Plan and the purchase of the item(s) by the Cardmember.
  21. BICC reserves the exclusive rights to change, amend, delete or add on to these terms and conditions with prior notice to the Cardmember and the Cardmember agrees and shall be bound by such amendments.
  22. Item(s) offered herein is/are subject to change and/or upgrading of product specifications and price without prior notice
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