How to Convert Credit Card Outstanding Balance to Installments?

Frequently Asked Questions:

1. What is the Outstanding Installment facility? The Outstanding Installment allows you to convert your remaining credit card balance (outstanding balance) — including settled retail transactions, cash advances, and billed installment principal — into monthly installments with a fixed amount throughout the selected tenor. The application for the Outstanding Installment can be made via OCTO App or via 14041.
2. Can components such as interest, late fees, and other charges be converted into installments together with the Outstanding Installment application? Interest, late fees, and other charges included in the outstanding balance of the credit card are not eligible to be converted into installments.
3. What is the minimum total outstanding balance that can be applied for under the Outstanding Installment facility? The minimum total outstanding balance that can be converted into installments follows the applicable terms for converting credit card/sharia credit card transactions into installments.
4. Are interest or administrative fees for the Outstanding Installment application counted as part of the Credit Card limit utilization? Any interest and/or administrative fees (if applicable) arising from the conversion of your credit card’s outstanding balance into installments will be counted toward your credit card limit utilization and may potentially cause an over-limit condition and related fees.
5. What are the basic requirements for applying for the Outstanding Installment facility via the OCTO App? To be eligible for the conversion of a Credit Card outstanding balance into installments, the card must meet the following criteria:
   1. The credit card is not currently blocked.
   2. At least 6 months have passed since the Credit Card was approved.
   3. The credit card status has been “current” for the past 3 months.
   4. The credit card is not under a temporary limit increase, expired or over limit.
   5. The card must be an individual conventional credit card (not Sharia or Corporate).
6. How many times can I apply for the Outstanding Installment facility?The Outstanding Installment application can only be submitted once per credit card per day through any available channel. If there is an active Outstanding Installment on the credit card (not yet fully billed), a new Outstanding Installment application cannot be made.
7. What if I want to make an early repayment for an approved Outstanding Installment If you choose to repay your installment earlier than the approved tenor, you will be charged a cancellation fee of 7.5% of the remaining principal or IDR 380,000 (whichever is higher) for conventional credit cards. For Sharia credit cards, there is no cancellation or early repayment fee. The remaining principal refers to the amount recorded in the bank’s system.
8. What other terms apply? Other terms not stated in this Frequently Asked Questions will refer to the applicable Credit Card Installment Terms and Conditions (https://www.cimbniaga.co.id/id/personal/kartu-kredit/ubah-cicilan-kartu-kredit).