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What is instalment payment
This is a popular financial service offered by banks and payment services that allows you to make purchases by paying for them gradually. How does instalment payment work? The purchase amount is divided into several equal installments. Their size depends on the term and total amount of the loan. How does payment by instalments differ from a conventional loan?
- no overpayment;
- fast processing;
- suitable for purchases both online and in stores.
The buyer can immediately receive the goods or use the service and pay gradually. To avoid additional costs, you only need to make timely payments according to the established schedule.
How GlobusPlus instalment payments work
One of the main advantages of the mobile app is its ease of use. The interface is user-friendly, making it easy to understand what instalment payments are and to use this service. To activate it, you need to:
1. Choose a product in an online store that cooperates with GlobusPlus.
2. Set the desired number of instalments by determining a comfortable monthly repayment amount.
3. Confirm the purchase in the app to complete the setup.
The first payment will be charged to the card immediately, the rest - on the same date each month. Within the specified period, you must top up your card account in a timely manner for the specified amount. Otherwise, the money will be withdrawn from the credit limit. You can also repay the loan early.
How to make a payment by instalments
To make purchases by instalments, you first need to download the GlobusPlus mobile application. The annual interest rate is 0.00001%. The ‘Loans’ section will provide information on the available limit. Payment by instalments is a convenient financial instrument that allows you to receive the goods immediately and pay for them gradually, without interest and commissions. To make a purchase, you just need to follow a few simple steps:
- make sure that the outlet offers the option of purchasing goods by instalments;
- place an order or let the seller know about your preferred payment method during checkout in the store;
- confirm the transaction, enter your card details and agree to the transaction.
For the convenience of users, the schedule of write-offs is displayed in the mobile application. This will help you not to miss a timely payment when using the Payment by instalments service. The process is simple and requires only a few steps. In the app and on the official website, you can find the terms and conditions and a list of partner companies whose networks offer this service.
How to increase your installment payment limit
For each client, the financial institution calculates the maximum amount allocated for lending. This means that any purchases can be made within this range. But if the funds are not enough for the desired purchases, it is useful to learn how to increase the installment payment limit. There are several simple ways to do this:
- avoid overdue payments and outstanding debts, which will convince the institution of the borrower's reliability and solvency;
- actively use the available service: start with small purchases, gradually moving on to larger ones;
- submit a request to increase the limit.
The service is convenient because you don't have to pay a large amount at once, but can make gradual payments. And most importantly, you can choose the optimal loan term by varying the amount of the monthly payment based on your financial capabilities.
How to make a purchase with GlobusPlus Pay by instalments
The service is very easy to use - it takes a few minutes to complete the purchase:
- Check if the seller or service provider is on the list of partners.
- Select the ‘Payment by instalments’ service when placing an order in the online store.
- Choose GlobusPlus bank.
- Specify the desired number of payments.
- Confirm the transaction in the app.
How do I make a payment by instalments directly at the point of sale? The list of actions is identical, you just need to inform the seller about your desire to pay using the service. There are no hidden fees, as shown in the credit calculator.
GlobusPlus partner stores ‘Pay in instalments’
All relevant information is available on the GlobusPlus website and in the mobile application. The list includes:
- Comfy;
- Vodafone;
- Eldorado;
- Citrus;
- Foxtrot;
- Allo.
The list is constantly updated, which allows you to find the best deals and buy household appliances or other categories of goods on favourable terms. And even small but regular purchases will be the best solution for those who are looking for a way to increase their limit. Installment payments let you afford more on favorable terms and maintain financial stability.
