What is the fee for Grab PayLater 12 months?

Grab PayLater 12-Month Installment Plan: 1.5% Processing Fee

Grab PayLater offers a flexible 12-month installment plan that enables users to make large purchases without breaking the bank. However, it’s important to understand the associated fees before using this service.

Processing Fee

Grab PayLater charges a 1.5% processing fee per installment on 12-month installment plans. This fee is applied to the total transaction amount. For example, if you purchase an item worth RM1,000 using the 12-month installment plan, you will pay a total of RM1,018 in installments (RM1,000 + RM18 processing fee).

Additional Terms and Conditions

The following additional terms and conditions may apply to the Grab PayLater 12-month installment plan:

• Minimum transaction amount: The minimum purchase amount to qualify for the 12-month installment plan is RM10.
• Maximum transaction amount: The maximum purchase amount for the 12-month installment plan varies and is subject to creditworthiness.
• Late payment fees: Late payment of any installment may incur additional fees.

Benefits of Using Grab PayLater 12-Month Installment Plan

Despite the processing fee, the Grab PayLater 12-month installment plan offers several benefits:

• Convenience: Allows users to spread the cost of larger purchases over 12 months, making them more manageable.
• Flexibility: Offers a flexible payment schedule, with the option to choose the monthly due date.
• Budget Management: Helps users stay within their budget by providing a structured payment plan.

Conclusion

The Grab PayLater 12-month installment plan provides a convenient and flexible way to make larger purchases. However, users should be aware of the 1.5% processing fee per installment before using this service. By carefully considering the benefits and fees associated with the plan, users can determine if it is the right choice for their financial needs.