Credit Cards Installment Payment Plan Terms & Conditions
Installment Payment Plan is a service which allows our customers to convert credit card purchases using CIB Credit Cards into installments with zero interest based on the tenor agreed upon with Souq.com
- CIB credit cardholders enjoys the option to pay in interest-free installments up to 6 months.
- The offer of interest-free installments over 6 months is valid till 9th of June 2021.
- The service is provided through Souq.com website and application
- The credit cardholder has to click the zero interest installments box on the merchant website before processing the transaction
- The minimum transaction amount is 500 EGP
- The zero interest installments tenors are 6 months
- There are no maximum number of enrollments in Installment Payment Plan service as long as they are within the card’s credit limit
- The first installment is due on the next month of enrollment. Example: if the customer applied for Installment Payment Plan in March the first installment will be due in April
- The installment is posted as part of the amount due, which is the installment/s plus the minimum amount due out of total non-enrolled balance in Installment Payment Plan-if any
- The cardholder should abide with the monthly installments as if the principal amount of the Installment Plan is settled before maturity date, the service will be automatically cancelled
- This service will not be available if the card is over limit and/or delinquent and/or suspended cards, while active services might be automatically cancelled for the same reasons
- The transaction may not be eligible for installment based on the terms and conditions of CIB installment payment plan
- The refunded transactions do not cancel the enrolled transactions in the installment plan. The customer must contact the call center on 19666 to proceed with the cancellation process
- Apply now for a CIB card and enjoy the offers here