Ambank Credit card Income Tax Instalment Plan

Now Ambank credit card members can enjoy up to 12 month installment plan for income tax payment. This program start from 7 March 2012 until 15 April 2012 and available to the Customers of the AmBank whether individual or Corporate who has applied and has been issued with the Principal Card including the Supplementary cardmember. Call Ambank at 03-27188888 to pay your income tax on your behalf.
To participate in this Program, Ambank credit cardmember is required to call AmBank Contact Centre and provide necessary information for income tax payment purposes. The Bank in implementing the Program shall not be liable to the Cardmember for any late payment penalty imposed by Inland Revenue Board of Malaysia causedvby a delay or failure of the Bank in paying cardmember’s income tax on behalf, notwithstanding the Bank’s approval of Cardmember’s application, to Inland Revenue Board of Malaysia concerned due to mandatory informations provided by Cardmember is inaccurate.

The instalment tenure of the Program shall be made available to the Cardmember for the periods of six (6) or twelve (12) months period or such other period as the Bank may specify from time to time at its discretion  with prior notice to the Cardmember.

Cumulative Minimum Amount
6 months = RM1,000
12 months = RM2,500

Cumulative Minimum Amount One time Interest / Management Fee rate
6 months RM1,000 =  3%
12 months RM2,500 =  4%

Example:
For approved amount of RM1,200 over a 6-months Tenure, the monthly instalment is computed as follows:

[RM1,200 +(RM1,200 x 3%)]/6 months = RM206.00 per month

More Ambank Credit card Income Tax Instalment Plan term and condition, refer to Ambank website for more detail.