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A women is using laptop and drinking coffee in the living room; image used for HSBC Malaysia Amanah Auto Balance Conversion page.

Auto Balance Conversion

Pay off your credit card balances at lower effective management fee of 13% p.a. with Auto Balance Conversion

Auto Balance Conversion let you enjoy a peace of mind even when managing bills

Auto Balance Conversion programme automatically converts eligible customer’s credit card-i outstanding statement balances into a 36 months instalment plan, at a lower effective management fee of 13% p.a.

Benefits

  • Lower effective management fee at 13% p.a.
  • Payment tenure of 36 months
  • No processing fee
  • No early termination fee

Eligibility

  • For Malaysian only.
  • Annual income of  ≤ RM60,000
  • Payment ratio of ≤ 10% 
  • (Payment ratio = Total payment / Total statement Balance) in the past 12 months
  • Credit card-i must be active
  • Minimum outstanding balance of RM1,000

Upon enrolment for this programme, your credit card-i outstanding balance will be assessed after payment due date and converted into 36 months instalments upon meeting the eligibility criteria every 12 months.

Timeline of how the process works:
Step
Date
Awareness notice
25 Jul 2019
Enrol date
25 Aug 2019
Statement date
1 Sep 2019
Payment due date
21 Sep 2019
Conversion date
26 Sep 2019
Next cycle eligible for conversion
Sep 2020 Statement
Timeline of how the process works:
Step
Awareness notice
Date
25 Jul 2019
Step
Enrol date
Date
25 Aug 2019
Step
Statement date
Date
1 Sep 2019
Step
Payment due date
Date
21 Sep 2019
Step
Conversion date
Date
26 Sep 2019
Step
Next cycle eligible for conversion
Date
Sep 2020 Statement

The Tables below are illustration of minimum payment due with and without the Auto Balance Conversion with the following assumption:

  • Customer makes minimum payment due (5% of statement balance) monthly.
  • There is no new retail spend or cash advance following the conversion.
  • The outstanding balance consists of retail spend only and revolves at 17% p.a.
  • The monthly instalment amount of Auto Balance Conversion is RM320 and 100% of the instalment amount is to be paid in full as part of the minimum payment due.
With Auto Balance Conversion – Effective management fee (13% p.a.)
With Auto Balance Conversion
Month 1
Month 2
Month 3
Oustanding Balance (RM)
10,000
     
Auto Balance Conversion (RM)
9,500
     
Minimum Payment Due (RM)
500
320
320
Auto Balance Conversion Balances (RM)
   9283
9063
With Auto Balance Conversion – Effective management fee (13% p.a.)
With Auto Balance Conversion
Oustanding Balance (RM)
Month 1
10,000
Month 2
  
Month 3
  
With Auto Balance Conversion
Auto Balance Conversion (RM)
Month 1
9,500
Month 2
  
Month 3
  
With Auto Balance Conversion
Minimum Payment Due (RM)
Month 1
500
Month 2
320
Month 3
320
With Auto Balance Conversion
Auto Balance Conversion Balances (RM)
Month 1
  
Month 2
9283
Month 3
9063
Without Auto Balance Conversion – Based on Current Credit Card-i management fee (17% p.a.)
Without Auto Balance Conversion
Month 1
Month 2
Month 3
Outstanding Balance (RM)
10,000
9635
9281
Minimum Payment Due (RM)
500
482
464
Without Auto Balance Conversion – Based on Current Credit Card-i management fee (17% p.a.)
Without Auto Balance Conversion
Outstanding Balance (RM)
Month 1
10,000
Month 2
9635
Month 3
9281
Without Auto Balance Conversion
Minimum Payment Due (RM)
Month 1
500
Month 2
482
Month 3
464

Things you should know

  • No application is required for Auto Balance Conversion Programme. You will be automatically enrolled and be given notice if you meet the eligibility criteria. 
  • You are allowed to opt-out from each Auto Balance Conversion within the stipulated period stated in the notification. 
  • For 1st time conversion, there is a 30 days grace period to cancel after conversion. Subsequent cancellation will result in total outstanding principal to become immediately due and payable.