Minimum Installment Rate


The financial institution will allow the cardholder to pay the minimum installment determined by the financial institution

‘Minimum installment rate’ is when cutting-off the credit card (bill) and cardholder cannot pay the full amount as agreed upon. Then, the financial institution will allow the cardholder to pay the minimum installment determined by the financial institution. This allows the cardholder not to pay the full amount at once, but there will be some interest due to the fact that the cardholder has yet paid the full amount as agreed initially.