SurePay instalment plans. Digest acquisitions or balance

SurePay instalment plans. Digest acquisitions or balance

Take solid control of the bank card repayments and break straight down a charge card purchase or stability into fixed monthly instalments over a collection term.

Qualities & advantages

Breakdown a purchase or your bank card balance. You decide on the quantity you’d love to pay back in line with the term and just how much you really can afford every month.

Versatile access

We all know that the circumstances can alter. Whenever you want, you can cancel or pay down your plan early.

Freedom to possess plans that are multiple

You’ll have around 10 active plans at the same time, for each qualified bank card. No additional credit checks are expected.

How works that are surePay

Pick from 3 kinds of plans

  • Card purchase: to settle an one-off purchase of $100 or even more, manufactured in the very last week or two. For example yearly insurances or resources, house things like furniture and white products, electronic devices or unanticipated expenses.
  • Card stability: to settle all or element of your balance that is card of600 or higher within a group time. Excludes payday loans, transfers of balance and existing instalment plan balances.
  • Cash balance that is advance to settle all or section of your hard earned money advance stability of $600 or higher within a set time. Advance loan deals consist of ATM withdrawals and transactions considered equivalent to cash e.g. traveller’s cheques.
  • Pick your balance or purchase

    You’ll need certainly to select an qualified purchase or balance to put a plan on.

    Choose your instalment that is monthly re payment

    Begin your payments that are monthly

    Every detail of one’s plan together with your month-to-month instalment quantity and deadline, will likely be shown on your own next month-to-month declaration once you put up an idea. This can include the new payment choices and a directory of your plan progress. You are able to monitor your progress any amount of time in NetBank or perhaps the CommBank application.

    You’ll be asked in order to make your SurePay instalment that is monthly on your regular declaration deadline every month.

    Missed payments and cancelled plans

    In the event that you skip a month-to-month instalment repayment your plan won’t be cancelled. Any instalment that is unpaid for the month will likely to be moved back again to the purchase balance (or cash loan stability for cash loan plans) and charged during the standard purchase (or cash loan) rate. In the event that you cancel an idea this can additionally affect any outstanding balance.

    Keep in mind: once you arranged an instalment plan you are going to nevertheless want to meet your overall and future minimum that is monthly.

    Interest & your instalments

    Exactly How interest works closely with SurePay

  • The attention rate will likely to be fixed when it comes to term that is full of plan
  • Any interest-free duration on acquisitions will not connect with the purchase or balance you move into the SurePay plan
  • You’ll nevertheless qualify for interest free durations on acquisitions maybe not in an agenda if every month, you pay back all non-instalment balances along with your monthly instalment payment/s by the date that is due month.
  • SurePay re payments

    If you have a SurePay instalment plan, your instalments to your charge card shall be reproduced the following:

  • Current month-to-month instalment payment/s (if you’ve got numerous plans re payments are used from highest to lowest interest, if interest levels are exactly the same on all plans from oldest to latest)
  • Cash loan balances (if relevant)
  • Buy balances
  • Other balances such as for example transfers of balance (if relevant)
  • The following instalment that is monthly any staying instalment balances.
  • This means your overall instalment that is monthly are often compensated first, even though you have other balances with higher interest levels (such as for instance payday loans or acquisitions maybe perhaps not in an idea). If this no further you prefer, you might cancel your plan whenever you want.

    Creating a plan

    SurePay can be obtained on qualified credit that is personal and Business Awards cards.

    To create a plan up:

  • In NetBank go to Settings >Set up/manage SurePay plan
  • Within the CommBank application go to Accounts > charge card account > Manage account > plans that are surePay
  • Instead, contact us on 13 2221, or go to your branch that is nearest.

    Wish to know about the newest provides?

    You can update your message preferences in NetBank if you’d like to hear about the latest SurePay program offers. Simply log in, get to ‘Settings’, choose ‘Message preferences’, and opt in to get direct advertising provides under ‘Special provides, products & offers’.

    Things you need to know

    You will not have the ability to submit an application for an instalment plan if you have exceeded your limit or if you are in default) if you don’t meet our criteria (e.g.. Instalment plans are not available on CommBank Neo, non-Awards company Cards, business cards or transfers of balance.

    The regards to the bank card Conditions of good use associated with instalment plans (part 5) will use.

    We apply your credit card payments first to your current monthly instalments while you have an instalment plan. This may use even though you’ve got other card balances with an increased interest, such as for instance payday loans and acquisitions instead of a strategy.

    Any period that is interest-free acquisitions will not apply after the purchase is placed on a plan.

    You are able to cancel your instalment plan whenever you want. Whenever a termination is prepared, the instalment that is outstanding is going to be transferred to your acquisitions balance (or cash loan stability for cancelled advance loan plans) and accrue interest from the transfer date at the standard purchase or money interest price relevant on your own account.

    In the payday loans Alaska event that you skip a payment your plan won’t be terminated and you may continue steadily to make any remaining monthly premiums due up towards the end of the selected term. Nonetheless, in the event that you miss an instalment re payment, the unpaid amount will be used in your acquisitions stability (or cash advances balance if the instalment plan had been a advance loan plan). It will then accrue interest in the acquisitions (or cash loan) price.

    Commonwealth Bank of Australia ABN 48 123 123 124 AFSL and Australian credit licence 234945.

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