QIB launches Easy Payment Plan on its mobile app – The Peninsula

QIB launches Easy Payment Plan on its mobile app – The Peninsula

Doha: On the occasion of Qatar National Day, Qatar Islamic Bank (QIB), Qatar’s leading digital bank, announced the launch of a new feature on its award-winning QIB Mobile App.

The Easy Payment Plan (EPP) feature enables QIB Co-Branded, Revolve, and Charge Credit cardholders to convert their transactions to easy installments giving them more financial flexibility.

Available on the QIB Mobile App, the Sharia-compliant Murabaha based Easy Payment Plan (EPP) feature is QIB’s latest addition to the host of innovative features designed to empower its customers and offer them more financial freedom.

With the new feature, QIB Co-Branded, Revolve, and Charge Credit cardholders can convert their single transactions above QR5,000 completed in the last 35 days as installment payments. The transactions can be paid in equal installments over a period of 6, 9, 12, or 24 months with attractive rates and without any processing fees.

Moreover, the installments will be converted to Personal Finance and the funds will be automatically credited to the respective Credit Card from the customer’s account.

QIB Credit cardholders can apply for up to10 EPP and pay in installments without impacting their credit limit an additional EPP can be available by repaying an existing one.

Commenting on the launch of the new feature,