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Welcome to Wing Bank’s Digital Installment! Discover a new, flexible way to manage your purchases with ease and convenience. Our Digital Installment service allows you to buy now and pay later with our flexible installment plan called “Digital Installment” making it easier than ever to acquire the products you need without immediate financial strain.
Whether you are eyeing the latest tech gadgets, home appliances, or essential tools for your daily life, Wing Bank's Digital Installment provides a hassle-free solution that empowers you to shop confidently. With instant approval, no upfront deposit, and flexible payment plans, our service is tailored to fit your financial needs and lifestyle.
Embrace the freedom of making high-value purchases without the worry of upfront costs, and manage your payments effortlessly through the Wing Bank app. Experience the new standard of shopping with Wing Bank’s Digital Installment and take control of your purchasing power today.
Key Benefits
Spread your payments over time to manage your finances better.
Get approved on the spot with no lengthy paperwork.
Start shopping without needing to put down a deposit.
Manage your installments easily through the Wing Bank app.
Features
Easy Application
Simple and quick application process directly through the Wing Bank app.
Wide Acceptance
Use Digital Installment at a variety of partner stores.
Transparent Terms
Clear and straightforward terms with no hidden fees.
Real-Time Notifications
Stay informed with real-time notifications about your payment status.
Fee Charges
- Interest Rate: Competitive interest rates apply based on the repayment period.
- Late Payment Fee: A small fee for late payments to encourage timely repayments.
- No Hidden Fees: Transparent pricing with no hidden charges.
How to get Start
- Choose Your Product: Select your desired item from any of our partner stores.
- Select Digital Installment: At checkout, choose the Digital Installment option in the Wing Bank app.
- Instant Approval: Get instant approval without the need for lengthy paperwork.
- Flexible Payments: Enjoy your purchase and pay in easy installments over time.
Earn Your Eligibility
If you find that you are not currently eligible for the Digital Installment service, don’t worry! Follow these steps to gradually earn your eligibility:
- Use the Wing Bank App regularly: Frequent use of the app helps build your profile.
- Make KHQR payments, bill payments, and top-ups: Engaging in these transactions through the app provides extra benefits.
- Maintain a higher balance: Keeping more funds in your account can enhance your eligibility.
- Open a Term Deposit: This not only helps you save but also increases your chances of becoming eligible.
Ready to start shopping smarter with Wing Bank’s Digital Installment?
Download the Wing Bank app today and experience the convenience of buying now and paying later!
FAQ
1. What is Digital Installment loan?
Digital Installment is an installment credit line that allows customers to make purchases upfront and pay for the bills or items later over time (loan tenure) with a lower interest rate, lower fees, higher loan limits, and longer loan tenures than Wing Digital Loan.
2. Who is eligible to apply for a Digital Installment loan?
All customers aged 18 to 65 years old.
3. How can I apply for Digital Installment loan?
You can apply for a Digital Installment loan via the Wing Bank App when you have an insufficient balance in the following situations :- Make a bill payment (excluding the Finance function) in the Wing Bank App
- Top up your mobile phone in the Wing Bank App
- Purchase items in Wingmall and select Wing Bank as the payment method
- Scan the offline KHQR of a Wing Bank Merchant with the Wing Bank App
4. Can I ask a Wing Agent to apply for a Digital Installment loan for me?
No, you cannot ask a Wing Agent to apply for a Digital Installment loan for you.
5. What is the loan interest rate?
The interest rate is starting from 12% p.a.
6. What is the loan tenure?
The loan tenure varies from 3 months to 24 months depending on the customer's profile.
7. What is the maximum loan amount?
The maximum loan amount varies depending on the customer's profile.
8. Does Digital Installment require collateral or a guarantor?
No collateral or guarantor is required
9. Do I have to pay any fees?
The fee charged ranges from 0% to 3%, depending on the customer's profile.
10. How long does it take to receive the status of the Digital Installment loan application?
You will receive an instant notification of the status. The loan will be disbursed into your Wing account upon approval and automatically transferred to the merchant or biller’s account.
11. Can I ask for the Digital Installment loan to be disbursed into my own account?
No, you cannot disburse the Digital Installment loan into your own account. However, if you need to disburse a loan into your own account, you can apply for a Wing Digital Loan instead.
12. How can I pay off the Digital Installment loan?
You can pay off the loan via the Wing Bank App by tapping on the loan icon, then selecting your active loan, and finally tapping on 'Payoff'.
13. Will Wing Bank check CBC for the Digital Installment loan application?
To comply with regulations, Wing will perform a CBC check on your Digital Installment loan application. You must give your consent for the CBC check before submitting the application.
14. For late payments, will it affect my CBC credit history?
Yes, it will affect your CBC credit history. We encourage you to make prompt repayment to keep a good credit history.
15. Is there any penalty for late payment?
You are encouraged to repay on time to maintain a good credit history. However, a late payment penalty of 2.25% per month will be imposed on the installment amount.
16. If I have more questions about Digital Installment loan, whom should I contact?
You can contact Wing Customer Service via: - 023 9999 89 - 012 999 489 Alternatively, you can visit the nearest Wing Bank branch.
17. How can I view my Digital Installment loan repayment schedule?
You can tap the 'Loan History' button on the Instant Loan Offering screen and select the loan to view your repayment schedule.
18. How will I know if my application is approved?
You will receive an app notification when your loan is approved. You can also check your application or loan status by tapping the 'Loan' button in the Wing Bank App and viewing your application or loan details.
19. What documents are required to apply for the loan?
No documents required