Best 0% Instalment Credit Cards 2018

Whether you are making a big purchase or planning for a wedding, you can benefit from using a credit card that can divide your financial burden into smaller pieces without incurring massive fees. Here, we compare the best credit cards with 0% interest instalment payment plans available in Singapore.

Table of Contents

Best Cashback Card for Big Purchases: Standard Chartered Unlimited Cashback Card

Consider this if you want unlimited amount of cash rebate on all expenses and can spend more than S$5,000 per month

Annual Income Requirement S$30,000
Foreigner Income Requirement S$60,000

Standard Chartered Unlimited Cashback Card is one of the best cashback cards that come with a 0% interest instalment plan. Standard Chartered is one of the few banks that actually reward cashback or miles on instalment plans. Not only that, this card's 1.5% of cash rebate is unlimited. Therefore, this card is quite ideal for earn rebates on large purchases. Lastly, Standard Chartered's 0% instalment plan charges no fee for up to 36 months, which is the longest fee-exempt period we've seen in the market.

Highlights

  • Annual fee: S$192.6, 2 Year Waiver
  • 1.5% unlimited cash back on all your expenditure
  • Foreign exchange transaction fee: 3.5%
  • No minimum spend requirement
  • 0% instalment payment plan: no fees and earn rewards for up to 36 months
  • Up to 24% discount on petrol at Caltex
  • 20% cashback and more on Grab rides globally
  • EZ-Link compatible
  • Promotion: Up to S$100 in cashback for new customers (S$20 for existing customers)
  • Read Our Full Review

Best Miles Credit Card for Weddings: Standard Chartered Visa Infinite Card

Consider this if you travel overseas frequently for business or shopping

Annual Income Requirement S$150,000
Foreigner Income Requirement S$150,000

Standard Chartered Visa Infinite Card is a great credit card to use for various wedding expenses like wedding banquet and honeymoon. Because cashback cards tend to cap the amount of rebate one can earn in a given period, miles credit cards tend to be much better for earnings rewards on large expenses like wedding. Secondly, SC Visa Infite Card is the only credit card that provides miles on 0% interest instalment payments. Not only that, its miles rewards are the highest in the industry, with 1.4 miles awarded for S$1 spent locally and 3 miles reward for S$1 spent overseas.

It also comes with a lot of luxurious benefits particularly useful for hotel bookings and honeymoon, such as a complimentary Hilton HHonor Gold status, VIP lounge access and discounts on Grab rides and golf clubs. Although its annual fee is rather high at S$588.6, the rewards you can earn on a large expense like wedding plus the extra 35,000 welcome bonus miles when you get the card are more then plentiful enough to compensate.

Highlights

  • Annual fee: S$588.6 and no waiver
  • 1.4 miles and 3 miles for every S$1 spent locally and overseas, respectively.
  • Hilton HHonor Gold status, complimentary VIP lounge access & travel insurance, discounts for golf clubs, yachts and private jets
  • 0% instalment payment plan: no fees and earn rewards for up to 36 months
  • 20% cashback and more on Grab rides globally
  • Promotion: Welcome bonus of 35,000 miles (or 15,000 miles and a Samsonite 28" luggage)
  • Read Our Full Review

0% Instalment Plan for Medical Bills: POSB Everyday Card

Consider this if you are a busy homemaker who want to maximise savings on groceries, cosmetics, pharmaceutical, medical and petrol bills

Annual Income Requirement S$30,000
Foreigner Income Requirement S$45,000

POSB Everyday Card is a decent card for families to earn savings while maintaining their health. Due to its 3% rebate on medical bills and 0% instalment plan that doesn't charge any fees for up to 12 months, this card can be especially useful for those who need to pay relatively large amounts to hospitals and other medical clinics. On top of this, this card helps families save money on other daily necessities like petrol (2%), groceries (5%), cosmetics and pharmaceutical needs (3%), and various monthly recurring bills (1%). Because it provides a large amount of rebate on spending areas that compose the largest part of a typical family's budget, we recommend this card for mothers who need to take care of both their families and themselves. Its annual fee is S$192.6 and POSB waives the first year's fee.

Highlights

  • Annual fee: S$192.6, waived for 1 year
  • Rebates: 5% on groceries, 3% on health, beauty and medical expenses, 1% rebate on monthly telco, SP services, cable and broadband bill
  • 0% interest payment plan with no fees for up to 12 months
  • Up to 20.1% discount on petrol at SPC
  • 0.3% cashback on all other spend
  • Promotions: 20% cash rebates on online food delivery and 10% cash rebates on dining (half for existing customers)
  • 1 chance to win 2 SIA suites class tickets for every S$500 spend (5x for travel bookings)
  • Read Our Full Review

Best No-Fee 0% Instalment Credit Card: OCBC Cashflo Card

Consider this if you want to earn rebates on your 0% instalment payments

Annual Income Requirement S$30,000
Foreigner Income Requirement S$45,000

If you are looking for a no-fee credit card with 0% instalment plan, OCBC Cashflo Credit Card is likely your best bet. This is the only card with a 0% instalment payment plan that provides an annual fee waiver: its fee of S$160.5 is waived for the first 2 years, and then waived in subsequent years for people who spend at least S$10,000 on the card annually. This card also rewards up to 1% of rebate on all of your purchases, including those made with the instalment plan.

Highlights

  • Annual fee: S$160.5, waived for 2 years & subsequently if you spend at least S$10,000 annually
  • 1% cash rebate with monthly bill of at least S$1,000
  • 0.5% cash rebate with monthly bill below S$1,000
  • No fee 0% instalment payment plan: earn rewards, pay over 3 months when you spend below S$1,000, over 6 months when you spend above S$1,000
  • Min annual income: S$30,000 (S$45,000 for foreigners)
  • Promotion: S$50 cashback when you apply for 2 OCBC credit cards online
  • Read Our Full Review

Best Cross-border Online Shopping Rebate Card: Standard Chartered SingPost Spree Credit Card

Consider this if you do a lot of cross-border online shopping

Annual Income Requirement S$30,000
Foreigner Income Requirement S$60,000

Standard Chartered SingPost Spree Credit Card is a great cashback card to use for making large purchases online, including those in foreign currencies. First, this card provides 3% rebate on foreign currency online transactions and 2% rebate on local transactions. This benefit also applies to all payments made via Standard Chartered's 0% instalment plan. Also, this card doesn't come with any monthly spending requirement, making it quite useful for people who shop online infrequently. If you like to buy big-ticket items from overseas e-commerce sites like Amazon or Taoba, this card's additional benefits like online price guarantee and 3% rebate on vPost transactions can be of great value to you.

Highlights

  • Annual fee: S$192.6, waived for 2 years
  • Rebates: 3% foreign currency online purchases & vPost transactions, 2% on local online transactions, 1% on other retail transactions
  • No monthly minimum spend & Online price guarantee
  • 0% instalment payment plan: no fees and earn rewards for up to 36 months
  • 20% cashback (at up to $50 per customer) on Grab rides globally (monthly min. spend of $900)
  • Promotion: Up to S$100 in cashback for new customers (S$20 for existing customers)
  • Read Our Full Review

Best Cashback Card for Online Shoppers: DBS Live Fresh Card

Consider this if you shop online frequently and have many opportunities to pay with mobile wallets

Annual Income Requirement S$30,000
Foreigner Income Requirement S$45,000

For shoppers who spend most of their money online or via mobile payments, DBS Live Fresh Card is likely the best credit card they can get in Singapore. This card can provide up to 10% of cashback on online purchases and mobile transactions (i.e. Visa payWave, Apple Pay, etc): 5% of cashback on online and mobile payments is doubled to 10% for the first 6 months of account opening. Although this card requires S$600 of monthly spend to be eligible for these benefits, DBS Live Fresh Card can help save up to S$60/month on your online transactions. It also comes with a 0% interest payment plan with no fees up to 12 months, although its rebates won't be applied to the amount paid through this mechanism.

Highlights

  • Annual fee: S$128.4, waived for 1 year
  • 5% cashback on online transactions and mobile payments
  • 0.3% cashback on all other spend
  • 0% interest payment plan with no fees for up to 12 months
  • Automatic enrollment for EZ-Reload
  • Promotions: S$100 cashback for new customers (S$50 for existing)
  • Read Our Full Review

Best Miles Card for Big Purchases: DBS Woman's World Card

Consider this if you need to make a large purchase that you can't immediately afford

Annual Income Requirement S$80,000
Foreigner Income Requirement S$80,000

DBS Woman's World Card is an excellent way to earn miles on shopping expenditures while also having a means to make a big purchase without incurring huge additional costs. First, it provides a mile reward of 4 miles per S$1 spent online. On top of this, DBS Womn's World Card provides a 0% interest payment plan that doesn't charge any fees for up to 12 months. Although you can't earn any miles on purchases made with this plan, the absence of a processing fee still makes this card a worthwhile consideration for those who want to earn miles on shopping and need to make a relatively large payment every now and then.

Highlights

  • Annual fee: S$192.6, 1-year annual fee waiver
  • 4 mile for every S$1 on online spend
  • 1.2 mile for S$1 spent overseas
  • 0% interest payment plan with no fees for up to 12 months
  • Promotions: 1 chance to win 2 SIA suites class tickets for every S$500 spend (5x for travel bookings)
  • Read Our Full Review

0% Instalment Cashback Card for Affluent Customers: HSBC Advance Credit Card

Consider this if you either make S$3,500 per month, have S$30,000 of cash savings or have a home loan with HSBC

Annual Income Requirement S$30,000
Foreigner Income Requirement S$40,000

HSBC Advance Credit Card is the best no-fee cashback card for people who can qualify for HSBC's Advance status. For Advance customers, this card perpetually waives its annual fee of S$192.6, and provides a flat rate cashback of up to 3.5%. This card is especially effective for high spenders because its cap on monthly rebate is very high at S$125, compared to S$50-70 for most other cards. It also comes with a no-fee 0% intstalment plan for Advance customers, for up to 12 months. However, this card loses its effectiveness for non-Advance customers, so we highly recommend that you read our detailed review to see if you can qualify for HSBC Advance program.

Highlights

  • Annual fee: S$192.6, waived for Advance Customers
  • Rebate: Up to 3.5% of cash rebate for HSBC Advance Customers (1.5% for non-Advance customers)
  • 0% interest instalments plan with no processing fee for Advance customers (up to 12 months)
  • 16% discount on petrol at Shell and Caltex
  • Welcome Bonus: A Samsonite Astra 55cm luggage (worth S$350) or S$100 cash back for new customers (S$50 for existing customers)
  • Promotion: Save up to S$10,000 with 1,000 Entertainer 1-for-1 deals
  • Read Our Full Review

Highest Cashback on Dining & Online Foreign Currency Transactions: CIMB Visa Signature Card

CIMB Visa Signature

Consider this if you want a specialised dining credit card without an annual fee

Annual Income Requirement S$30,000
Foreigner Income Requirement S$48,000

While it charges no annual fee, CIMB Visa Signature Card is a good cashback card to consider for those who like to dine out because it provides the highest dining rebate of 10%. The 10% rebate is also applied to online foreign currency transactions, which can be helpful for thsoe who like to shop with cross-border e-commerce sites. The only caveat to this card is that its 10% rebate is capped at S$60 per month and requires a monthly spend of S$500 and 8 monthly transactions worth S$30 each. It also provides rebates on its 0% instalment plan called iPayPlan, although it charges a processing fee that ranges from 3% to 5%.

Highlights

  • No annual fee
  • Up to 10% cashback on dining & online foreign currency transactions
  • 1% foreign exchange transaction fee
  • 0% interest iPayPlan: earn rebates, instalments up to 20 months, up to 5% processing fee
  • Read Our Full Review

10% Rebate on Travel, Health and Beauty: CIMB Platinum MasterCard Credit Card

CIMB Platinum Mastercard

Consider this if you want a specialised rebate credit card for health, beauty and travel

Annual Income Requirement S$30,000
Foreigner Income Requirement S$48,000

CIMB Platinum Mastercard Credit Card is basically a carbon copy of CIMB Visa Signature card, except that the 10% rebate is not on dining, but on travel, health, beauty and wellness. Just like CIMB Visa Signature, this card does not have fee or monthly minimum spend. We would recommend choosing a card based on which category comprises bigger expenditure for you. It also provides rebates on its 0% instalment plan called iPayPlan, although it charges a processing fee that ranges from 3% to 5%.

Highlights

  • No annual fee
  • Up to 10% cashback on travel booking, health, beauty & wellness
  • Unlimited 0.2% cash rebate on other things
  • 1% foreign exchange transaction fee
  • 0% interest iPayPlan: earn rebates, instalments up to 20 months, up to 5% processing fee
  • E-commerce purchase protection
  • Read Our Full Review

No-Fee Flat Rate Card: CIMB Visa Infinite Card

CIMB Visa Infinite Card

Consider this if you want a no fee cashback card with no spending requirements

Annual Income Requirement S$120,000
Foreigner Income Requirement S$120,000

CIMB Visa Infinite Card is a no-fee flat rate cashback card rewarding 1% cashback on all local expenses, and 2% cashback on all travel, overseas and online foreign currency expenditures. Other aspects are quite similar to CIMB Visa Signature card. This card can also function as a travel card since because of its low foreign transaction fee and access to Visa privileges that qualifies you for various discounts at stores. It also provides rebates on its 0% instalment plan called iPayPlan, although it charges a processing fee that ranges from 3% to 5%.

Highlights

  • No annual fee
  • Spend S$2,000 in a month to enjoy 2% rebate on travel, overseas and foreign currency transactions
  • 1% rebate on all other retail spends
  • Complimentary 3 lounge visits per year
  • Complimentary travel insurance
  • 1% foreign exchange transaction fee
  • 0% interest iPayPlan: earn rebates, instalments up to 20 months, up to 5% processing fee
  • Read Our Full Review

CIMB World MasterCard Credit Card: No-Fee Credit Card for Golfers

CIMB World Mastercard

Consider this if you want a free credit card with golf benefits

Annual Income Requirement S$120,000
Foreigner Income Requirement S$120,000

CIMB World MasterCard Credit Card is a great no-fee credit card for avid golfers. CIMB World MasterCard offers 1% cashback on all local and overseas spend. On top of this, they also provide complimentary green fees at 40 golf courses around SE Asia. Best of all, you can enjoy all of these benefits without paying a dollar of annual fee. It also provides rebates on its 0% instalment plan called iPayPlan, although it charges a processing fee that ranges from 3% to 5%.

Highlights

  • No annual fee
  • Unlimited 1% rebate in Singapore and overseas
  • Complimentary travel insurance
  • Complimentary green fees at 40 golf clubs in SE Asia
  • 1% foreign exchange transaction fee
  • 0% interest iPayPlan: earn rebates, instalments up to 20 months, up to 5% processing fee
  • Read Our Full Review

Summary of Best 0% Instalment Credit Cards

In case you want a quick look at our picks, here are ValuePenguin's pick of credit cards with the best 0% interest instalment plans.

Shopping Cards0% Instalment PlanRewards on InstalmentsAnnual Fee
Standard Chartered Unlimited CashbackNo fee up to 36 monthsYesS$192.6Learn More
Standard Chartered Visa InfiniteNo fee up to 36 monthsYesS$588.6Learn More
OCBC CashfloNo fee up to 6 monthsYesS$160.5Learn More
POSB EverydayNo fee up to 12 monthsNoS$192.6Learn More
Standard Chartered SingPost SpreeNo fee up to 36 monthsYesS$192.6Learn More
DBS Live FreshNo fee up to 12 monthsNoS$128.4Learn More
DBS Woman's WorldNo fee up to 12 monthsNoS$192.6Learn More
HSBC Advance CreditNo fee up to 12 monthsNoNone for Advance CustomersLearn More
CIMB Visa SignatureUp to 20 months, up to 5% processing feeYesS$0.0
CIMB Platinum MasterCardUp to 20 months, up to 5% processing feeYesS$0.0
CIMB World MasterCardUp to 20 months, up to 5% processing feeYesS$0.0
CIMB Visa InfiniteUp to 20 months, up to 5% processing feeYesS$0.0
Shopping Cards0% Instalment PlanRewards on InstalmentsAnnual Fee
Standard Chartered Unlimited CashbackLearn MoreNo fee up to 36 monthsYesS$192.6
Standard Chartered Visa InfiniteLearn MoreNo fee up to 36 monthsYesS$588.6
OCBC CashfloLearn MoreNo fee up to 6 monthsYesS$160.5
POSB EverydayLearn MoreNo fee up to 12 monthsNoS$192.6
Standard Chartered SingPost SpreeLearn MoreNo fee up to 36 monthsYesS$192.6
DBS Live FreshLearn MoreNo fee up to 12 monthsNoS$128.4
DBS Woman's WorldLearn MoreNo fee up to 12 monthsNoS$192.6
HSBC AdvanceLearn MoreNo fee up to 12 monthsNoNone for Advance Customers

Compare the Best 0% Instalment Credit Cards by Dollar Value

Below is a visual representation of the approximate savings one can earn by using the best credit cards for 0% interest instalment plans in Singapore. These dollar values* represent the approximate amount of rewards a person can earn in cash rebate & air miles when spending S$2,000 per month for 2 years. However, this amount can vary widely depending on what your spending habit looks like and how you redeem your miles.

A graph displaying how the best 0% instalment credit cards compare to one another in terms of their rewards
Best 0% Instalment Credit Cards in Singapore by Estimated 2-Year Dollar Value

*ValuePenguin calculates the dollar value of rewards based on S$2,000 of monthly spending. We sum the value of points, miles and cashback in dollar terms and subtract the annual fee over a 24-month period. The estimates here are ValuePenguin's alone, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Duckju Kang

Duckju is the Senior Vice President of ValuePenguin Singapore. He covers the financial services industry, consumer finance products, budgeting, and investing. He previously worked in the financial services industry, including at such hedge funds as Tiger Asia and Cadian Capital.

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