Wednesday, 25 April 2018, 9 Sya'ban 1439H Solat Time:
KL Imsak 5:37 | Subuh 5:47 | Syuruk 7:04 | Zohor 1:14 | Asar 4:29 | Maghrib 7:20 | Isyak 8:31

RSVP Program


  1. The Bank Islam Credit Card-i (BICC) Retail Spread Value Plan (RSVP) Program (“the Program”) shall commence on 17 January 2013.
  2. RSVP is open to all BIC Card member including Supplementary. However the request must be made by Principal Card members only. Card member account must be in current status without any delinquent in payment, and with sufficient available Financing Limit for the execution of the RSVP profit charge
  3. By virtue of the Card member applies for the RSVP Program, the Card member accepts and agrees to the Terms & Conditions of this RSVP program.
  4. RSVP is applicable for retail purchases only, with minimum purchase of RM1, 000.00 in a single receipt transacted at not on-us terminal/merchant. Not on-us terminal/merchant refers to terminal/merchant not acquired by Bank Islam.
  5. Every application by the Card member to participate in the RSVP Program must be made by the telephone call to the Customer Service of Bank Islam Card Centre at 03 2726 7799 or Bank Islam Contact Centre at 03 26900 900 or such other method as may be prescribed by the Bank from time to time. The details of purchase or retail transaction which the Card member intends to pay installments must be made known to the Bank between three (3) days after the purchase is made and before the next statement date, provided that the BIC account has been debited with the purchase or retail transaction. Otherwise the transaction shall not qualify for the RSVP Program.
  6. RSVP Program is not applicable to cash transaction/withdrawal, outstanding balances of Mail Order/Telephone Order (MOTO) / Installment Purchase Plan (IPP) transactions, Balance Transfer, and any other installment schemes from other financial institutions.
  7. The tenure of installment for the RSVP is 6,9 or 12 months, and a one-time handling fees of 4.77% (The fee/charges are inclusive of 6% GST) of the transaction amount will be charged in the same month as the RSVP application is approved , together with the first scheduled monthly installment payment and will be reflected in the same month BIC card statement.
  8. Card member will not be charged with additional fees and charges for the second payment up until the end of installment payment of RSVP. The equal amount of monthly installments shall be payable by the Cardmember to his/her own BIC card without any deduction whatsoever.Example: Retail purchase of RM1, 200.00 on 01February 2013. Card member should notify BICC earliest by 05 February 2013 or 5 days before next statement date. Payment simulation as follows:
    Installment No Installment One Time Handling Fees Total Payment
    1 RM100 RM57.24 RM157.24
    2 RM100 - RM100
    3 RM100 - RM100
    4 RM100 - RM100
    5 RM100 - RM100
    6 RM100 - RM100
    7 RM100 - RM100
    8 RM100 - RM100
    9 RM100 - RM100
    10 RM100 - RM100
    11 RM100 - RM100
    12 RM100 - RM100
  9. The RSVP payment cannot be altered.
  10. Should the Card member want to settle off early his/her RSVP installment, BICC shall not charge Card member any early settlement fee and no refund will be made on profit charge.
  11. The BIC account shall be reduced by the aggregate amount of the outstanding RSVP amount due. However, the amount equivalent to the payment amount made by Cardmember shall be restored to the BIC account accordingly.
  12. The RSVP installment shall be included in the BIC monthly statement on the approval date of the RSVP and every month thereafter until full settlement of the installments. The RSVP monthly installment is inclusive in the outstanding balance of BIC and the Card member shall pay minimum payment of 5% from the outstanding balances (if any).
  13. However, Card member are encouraged to pay the RSVP monthly installment on top of the minimum monthly payment of 5% or RM50 whichever is higher.
  14. RSVP monthly installment is treated as a normal retail transaction where 20 days profit free from the date debited to card statement.
  15. Notwithstanding any other terms herein contained, in the event of any delay or failure to pay minimum payment of 5% or RM50 whichever is higher on or before the payment due date specified in the card member statement of account (which is considered as delinquent) all monies due and owing under RSVP, comprising of the RSVP monthly installment and the total unbilled principal of the RSVP will result to the imposition of normal profit charge on the RSVP amount.
  16. If the Cardmember only pays minimum payment of 5% or RM50 whichever is higher from the outstanding balances (if any), without paying the monthly RSVP installment amount, then the respective RSVP monthly installment amount will be subject to normal profit charges as below:
    Transaction Types Annual rate
    Normal Profit Rates Purchases & Balance 13.5%(Tier 1) With prompt settlement of the minimum payment due for 12 consecutive months.
    16.0%(Tier 2) Make 10 or11timesprompt payments in the last 12 month.
    17.5%(Tier 3) Make 9or less prompt payments in the last 12 month
  17. Card member may apply for more than once, subject to the availability of BIC Financing Limit in the Card member, BICC account.
  18. Should the BICC account turns delinquent, the installment plan will be automatically canceled and the balance of the transaction will be debited/charge into forthcoming BIC account statement.
  19. The payment for RSVP is not entitled for BIC Cash Rebates or any rewards whatsoever.
  20. In addition, the Late Payment Compensation profit charge (ta’widh) of 1% of the Outstanding Balance as at statement date shall apply i.e. a minimum of RM5.00 and capped to a maximum of RM50.00, whichever is higher as decided by Bank Negara Malaysia.
  21. 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.
  22. In the event the Card member (participating in this RSVP program) instructs the Bank to cancel the existing BICC membership or the existing BICC membership is terminated by the Bank due to any reason as stated in the BICC Agreement, the Cardmember is liable to settle in full all of the outstanding balances, including fees and charges which may be imposed by Bank Islam, upon closure of the BICC Account in accordance with the BICC Agreement.
  23. The Terms and Conditions herein are in addition to and without prejudice to the Terms and Conditions stated in the BICC Agreement. In the event of a conflict between the Terms and Conditions herein and the Terms and Conditions in the BICC Agreement, these Terms and Conditions shall prevail in so far as they apply to the RSVP program.
  24. The Bank reserves the right to cancel, terminate or suspend this RSVP program with adequate notice. For the avoidance of doubt, cancellation, termination or suspension by the Bank of this Program shall not entitle the Cardmember to any claim or compensation against the Bank for any losses or damages incurred by the Cardmember as a direct or indirect result of the act of cancellation, termination or suspension.
  25. The Bank reserves the right, sole and absolute discretion to amend the Terms and Conditions herein at any time with prior notice to the Cardmember and the duly amended terms and conditions shall become effective on such a date as may be determined by the Bank.
  26. The Bank reserves the right to end the RSVP program at any time with adequate notice to the Card member and without assigning any reason whatsoever.
  27. The Terms and Conditions herein shall be governed by and construed in accordance with the laws of Malaysia.

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