Instalment Plans (Fixed Payment Options)
A Fixed Payment Option allows you to make your repayments in monthly instalments at a fixed rate over a set term.
You can use a Fixed Payment Option in two ways:
- Receive cash from $500 up to your available credit limit. Repay in Monthly Instalments at fixed rate over a set term.
- Convert your eligible purchases at Kogan.com into monthly instalments which you can repay over a fixed term.
Click here to learn more about our Instalment Plans.
- For Cash Instalment Plans the minimum is $500 and the maximum amount is up to 90% of your available credit limit.
- For Transaction Instalment Plans, the minimum is $50.
Yes. You can have more than one Fixed Payment Option as long as the combined total is within your available credit limit.
The Fixed Payment Option uses part of your existing credit limit. As you pay off your Fixed Payment Option amount, the amount(s) you pay off will become available for you to use again as part of your credit limit.
Yes, you may still be eligible if you pay the closing balance on your statement by the Payment Due Date each month (excluding any Instalment Plan balance which isn’t due for payment by that Payment Due Date).
During the cycle in which the Fixed Payment Option is set up, you will be charged an initial interest charge on the main Fixed Payment Option balance. Subsequent cycles will have an instalment for each month of the term. Interest will be charged on Fixed Payment Option from when the Fixed Payment Option is created until it is cancelled or repaid in full.
Your Instalment Plan repayment appears on your monthly statement and is included in your Minimum Payment Due. You pay it in the same way you make a regular payment, with the ways you can do this shown on your monthly statement.
Yes. If you’d like to make an additional repayment on your Instalment Plan, simply chat with us now by logging into the Kogan Money Credit Cards Mobile App and clicking ‘Chat with us’ located under the ‘Help’ tab and allow up to two working days for us to process your request. Once you receive a confirmation from us, you can make an additional repayment to your Kogan Money Instalment Plan.
Yes, you may be able to change it to a shorter or longer term. To enquire about a change, simply chat with us now by logging into the Kogan Money Credit Cards Mobile App and clicking ‘Chat with us’ located under the ‘Help’ tab.
Yes, you can pay off your Kogan Money Instalment Plan any time, without early repayment fees. Simply chat with us now by logging into the Kogan Money Credit Cards Mobile App and clicking ‘Chat with us’ located under the ‘Help’ tab.
