1. Definition

The Installment Payment Plan (“IPP”) allows eligible KBZ Credit Cardholders to convert qualifying purchase transactions into monthly installment repayments, subject to applicable tenure options.

2. Eligibility

• The IPP is available to all active KBZ Credit Cardholders.
• The transaction amount must be 150,000 MMK or more to qualify for conversion into an IPP.
• Must be a valid Domestic/International Purchase Transaction 
• The IPP application must be submitted before transaction is billed
• KBZ reserves the right to approve or reject any IPP request at its sole discretion.

3. Tenure Options

Customers may select from the following available tenures :

• 3 months
• 6 months
• 9 months
• 12 months
  (Availability may vary depending on product type, merchant, or promotion.)

4. Interest Rates and Fees

• The applicable monthly interest for each tenure shall be 1% and will be deducted at the Installment Conversion Date. 
• Processing fees for both onboarding and termination may apply and are non-refundable.
• Late payment charges and interest will apply if the cardholder fails to make the minimum payment due as per standard credit card terms and conditions.

5. Credit Limit Impact

• The full purchase amount of the IPP will be held from the available credit limit at the time of conversion.
• The blocked amount will reduce as monthly installments are paid.

6. Billing & Repayment

• Monthly installment amounts will be billed to the cardholder’s credit card statement.
• Each installment must be paid by the payment due date shown on the credit card statement.
• The cardholder must continue to meet the minimum payment requirement of the credit card statement.
• Failure to make payment may result in applicable interest and late fees under the Bank’s standard Credit Card Terms and Conditions.

7. Early Repayment and Cancellation Policy

• Early repayment is not permitted unless the credit card account is closed.
• Only active IPPs with remaining unpaid installments are eligible for cancellation. IPPs that are fully paid, or where the final installment has already been billed, are not eligible for cancellation.
• Upon cancellation, the remaining principal balance will be posted to the cardholder’s nearest billing statement as a purchase transaction.
• The outstanding amount must be paid by the due date to avoid additional interest. Interest will be charged on the remaining principal starting from the cancellation date.

8. Refunds, Returns, and Disputes

• All refunds and returns are subject to the merchant’s individual policy.
• KBZ shall not be responsible for any disputes arising between the cardholder and the merchant.
• The cardholder remains responsible for all IPP payments unless the IPP is formally cancelled in accordance with these Terms and Conditions.

9. Compliance

Cardholders agree that the IPP must be used for legitimate, lawful transactions in accordance with:

• Bank policies
• Applicable laws and regulations of the Republic of the Union of Myanmar

10. Liability Disclaimer

• KBZ is not liable for product quality, service issues, or merchant disputes.
• Your obligation to pay monthly installments remains unless formally cancelled under these Terms.

11. Amendments to Terms

• KBZ reserves the right to change or update these Terms at any time with prior notice.
• The latest Terms will be published on KBZ website.

12. Acceptance

By converting a transaction into an Installment Payment Plan, the cardholder acknowledges that they have read, understood, and agreed to be bound by these Terms and Conditions.