Instalment Plans

An instalment plan lets you spread the cost of eligible purchases or expired 0% balance transfers over a fixed period. It’s a simple way to make regular monthly payments on transactions you don’t want to pay off all at once. You will not pay interest towards your instalment plan but you will pay a set monthly fee for each instalment plan you take out (up to 8 plans at any time)

Setting up an instalment plan doesn’t involve a credit check and typically won’t affect your credit score. Make sure you at least pay the minimum payment on your credit card each month as missing it might affect your credit score.

You can set up an instalment plan quickly and easily in the Ulster Bank mobile app. Just select any eligible transactions between £50 and £3000, choose your repayment term between 3, 6, 12 and 24 months, and confirm the plan. All costs and monthly payments will be shown before you commit.

To move a balance onto an instalment plan, the Balance Transfer (held with NatWest Bank, Royal Bank of Scotland or Ulster Bank) offer period must have expired. If you are eligible to set up an instalment plan we will let you know via the mobile app.

You can only set up one instalment plan on each working day.

You can group up to five eligible purchases between £50 and £3000 into one instalment plan when setting it up in the mobile app. Simply select the transactions you want to include and follow the steps to confirm. The grouped plan can’t exceed £3000. You can have up to 8 active instalment plans at any given time no matter how many purchases/transactions there are in one plan.

You’ll always be able to see how much we’ll collect from your Direct Debit, and when, on your monthly statement.

If you’ve set your Direct Debit to pay the card minimum each month, we’ll increase it automatically to include your instalment plan payment and fee.

If your Direct Debit is set to pay the full card balance, it will cover your monthly spending plus your instalment plan payment and fee – but it won’t pay off the full instalment plan early. So, you can still repay the plan over the agreed time. 

If your Direct Debit is set to pay a fixed amount that’s less than your minimum payment plus your instalment plan payment and fee, we’ll increase it to cover these. You’ll see this on your statement. If you haven’t spent anything that month, and you don’t have any other outstanding balances we’ll only take the instalment plan payment and fee, which may be less than your fixed amount. 

If you’ve set up a Direct Debit, there are certain times just before your payment due date when you won’t be able to start a new instalment plan. This makes sure your Direct Debit is calculated correctly before it’s claimed from your bank.

You can view all your active instalment plans in the Royal Bank of Scotland mobile app, including details like monthly payments, remaining balance, and end date. You can also view full details in your monthly credit card statement.

An instalment plan could be a good option if you want to manage your spending by spreading the cost of purchases or expired balance transfers over time. It offers predictable monthly payments and may help you pay off your balance faster than making minimum payments alone.

To decide if a plan is right for you, you need to think about; 

• If you can afford the monthly repayments, as well as your minimum monthly payment.
• If the term you choose is affordable for the purchase you’re making.
• If there might be other ways to borrow with us on our website.

Learn more

There could be a few reasons including:

• No eligible transactions available.
• Maximum number of instalment plans already active (8).
• Not enough available credit on your credit card.
• You have a cash balance on your credit card.
• You’ve already set up one instalment plan in the working day.
• Transactions that you are trying to group are not in the same statement period.
• Transactions combined exceed the maximum plan limit of £3000.
• Purchases/Transactions combined exceed the maximum number of purchases/transactions you can have in One instalment plan (5).
• How you manage your finances and maintain your account.
• Your account may not currently meet the eligibility criteria.

Check the mobile app for more details or contact us for support.

You’ll pay a fixed monthly fee for each instalment plan, and it will always be cheaper than your credit card’s standard interest rate. This fee is already included in your monthly payment—no hidden costs, no surprises.

You won’t pay interest on the balance in your plan, but there is a fixed monthly fee based on the term you choose. You’ll pay the same amount each month for the duration of the plan.

You can pay your instalment plan in the following ways:

1. Set up a direct debit to include your monthly minimum payment plus instalment plan
2. Log into the mobile app and select ‘make a payment’
3. Log into Online Banking and select ‘payment and transfers’ 

Every month, you’ll pay the following in this order:

• The minimum payment on your credit card balance.
• The instalment plan fee.
• The instalment plan payment. 

It’s useful to understand how your monthly instalment plan payments work alongside your credit card balance. 

Each month we'll ask you for your minimum payment plus your monthly instalment plan payment and fee.  See your next statement for all the details, including the due date. Make sure to pay at least these amounts to keep your instalment plan active.

If you pay more than this, the extra goes towards repaying your credit card balance first, so you end up paying less interest. If there's no other spending or balance on your credit card, your minimum payment will only be the instalment plan and fee. If you’ve made recent transactions that haven’t appeared on your statement yet, your extra payment might go towards your Instalment Plan first.

You can make extra payments anytime without any extra charges.

If you do, we’ll use your payment to reduce your main credit card balance first—this helps you save on interest.

Just so you know, if you’ve made recent transactions that haven’t appeared on your statement yet, your extra payment might go towards your Instalment Plan first. And if you have more than one active instalment plan, we’ll start by paying off the ones that finish soonest. 

When setting up a Direct Debit, you can usually choose from:

• Minimum payment – covers the minimum amount due, including your instalment plan payment and fee.
• Fixed amount – you choose how much to pay each month. If your Direct Debit is set to pay a fixed amount that’s less than your minimum payment plus your instalment and fee, we’ll increase it to cover these. You’ll see this on your statement. If you haven’t spent anything that month, and you don’t have any other outstanding balances we’ll only take the instalment and fee, which may be less than your fixed amount.
• Full balance – it will cover your monthly spending plus your instalment plan payment and fee – but it won’t pay off the full instalment plan early. So, you can still repay the plan over the agreed time. 

Choose the option that best suits your budget and how you want to manage your repayments.

There’s no penalty for missed instalment plan payments, but If you miss one payment, we’ll add it to your credit card balance. If you miss two payments, we’ll cancel your plan. You’ll then pay the standard purchase rate on your balance; this will be higher than your instalment plan fee.

Remember, if you miss the minimum payment on your credit card balance; it could have a negative impact on your credit rating. Missing an instalment plan payment won’t impact your credit file, as long as you make the minimum payment on your credit card. 

Please let us know if you’re struggling financially.

We’re here to help, and you can message us 24/7 in the app or call us.

0345 300 4642 Relay UK: 18001 0345 300 4642

You can also get help and advice from us online on our website.

Learn more

Your monthly credit card statement will show your instalment plan payment as part of your overall balance. You’ll see a breakdown of your plan, including how much you’ve paid and what’s left to repay.

When we mention your 'instalment plan payment', we’re talking about the total monthly amount you need to pay for all your active plans. This covers your regular payments plus any plan fees, spread over the term you’ve chosen.

On your credit card statement, you’ll see 'instalment plan + Spend'—this shows your total outstanding balance, excluding any Instalment Plan payments that are due in future months."

You can cancel your instalment plan any time in the app with no extra fees. 
Once cancelled:

• You won’t be charged any more instalment plan fees.
• We can’t refund any fees you’ve already paid.
• If you still owe money, you’ll start paying interest at the standard purchase rate, which is higher than your instalment plan fee. If you make an overpayment before your next statement, it may be used to pay off other instalment plans first."
• You won’t be able to set up a new Instalment Plan for this purchase again.

Once your instalment plan is set up, you can’t change the transactions included or adjust the term. However, you can cancel the plan at any time and set up a new one with different transactions or terms if eligible.

No, once an instalment plan is cancelled, it can’t be reinstated. You can set up a new one with different transactions or terms if eligible.

If you receive a refund for a transaction that’s part of your instalment plan, the refund will go towards your overall credit card balance. Your instalment plan will continue unless you choose to cancel it. 

If there's no spending or balance on your credit card, then the refund will  go towards your instalment plan.  And if there’s more than one active instalment plan, the refund may be allocated to the plans that finishes soonest.

When you cancel your instalment plan, the remaining balance is moved back to your standard credit card balance. It will then be subject to your usual interest rate and repayment terms. Once cancelled, you won’t be charged any more instalment plan fees but we can’t refund any fees you’ve already paid.