Auto Balance Conversion is a credit card programme available to eligible cardmembers to automatically convert their outstanding balances into smaller instalments if the eligibility criteria are met. If your outstanding statement balance meets a minimum required amount of RM1,000, it will be converted into an instalment plan at 13% per annum for 36 months. You may choose to opt-out of this programme at any time.

The benefits of Auto Balance Conversion are:

• Lower effective interest rate of 13% per annum versus the existing 15% per annum to 18% per annum on your credit card
• Hassle-free conversion — your outstanding statement balances will be automatically converted to 36 months upon meeting the eligibility criteria (annual assessment)
• No processing fee
• No early termination fee — flexibility to settle your instalment plan early
• Flexibility to opt-out from future conversions

You are eligible for the Auto Balance Conversion upon meeting the following eligibility criteria:

• Malaysian;
• Monthly income =< RM5,000 or annual income =< RM60,000 (per your income record with OCBC);
• Did not make full payment on credit card outstanding balances over the past 12 months
• Have made an average repayment of =< 10% of credit card outstanding balances in the past 12 months

Eligibility will be assessed annually.

You will be automatically enrolled into the programme upon meeting the eligibility criteria every 12 months.

Upon auto enrolment to the programme, your credit card statement balance will be assessed on the payment due date + payment grace period (which varies for each credit card issuer). If your outstanding statement balance (excluding payment made) meets the criteria of a minimum of RM1,000, it will be converted into an instalment plan per the agreed interest rate and tenure. Auto Balance Conversion will not be granted for a delinquent account of which no minimum payment is made past the due date. Subsequent conversions will be offered to eligible customers at a 12-month interval via an advance notice.

Auto Balance Conversion will not happen. The re-assessment will happen in the following month.

You can opt-out from each balance conversion offer by contacting our OCBC Contact Centre at +603-8317 5000.

There is a 30-days grace period for cancellation post conversion for the first time conversion. If you opt to cancel the instalment plan after this period, you will have to repay the outstanding principal in full. For subsequent conversions, if you choose to cancel the instalment plan after it has commenced, you will have to repay the outstanding principal in full.

To cancel your ABC instalment payment plan, you may do so by contacting our OCBC Contact Centre at +603-8317 5000.

You may at any time settle the Auto Balance Conversion instalment amount early without any termination fee. You are required to pay the total outstanding unpaid principal in full.

The Auto Balance Conversion instalment amount must be paid in full every month. The monthly instalment amount will be calculated from the date when the conversion happens using a reducing balance payment method. The effective interest rate is 13% p.a. and the tenure is 36 months. The first instalment (comprising principal and interest) payable will be reflected in the subsequent credit card statement.

Unfortunately, you will not be earning rebates for your Auto Balance Conversion instalment.

If you fail to pay your monthly instalments by the due date, treatment of the outstanding balances will follow the current practices for credit card. For more details, please refer to OCBC Credit Card Product Disclosure Sheet and Cardmember's Agreement.

Upon a successful Auto Balance Conversion, the amount converted will be booked on your existing credit card limit. Each monthly instalment you repay will incrementally restore your available credit limit or in full once the Auto Balance Conversion is fully repaid.