Worry Less with
0% Interest Instalment Plans
Split payments on your car, motorcycle or annual travel insurance
Enjoy Interest-free 12-Month Instalment Plans*
At Budget Direct Insurance, we like to give you options to customise your plans. And that includes how you pay for your insurance. Enjoy 12 months of interest-free premium payments* for your Car, Motorcycle and Annual Travel Insurance.
Instalment plans are available for:
- Customers whose car, motorcycle or annual travel insurance premiums are $200 or more per policy; and
- Customers who pay online or over the phone using a DBS/POSB Mastercard or Visa credit card.
Ready for better value car, motorcycle and travel insurance?
Simply get a quote and select the option to pay by 12 interest-free instalments upon checkout.
You can also contact our friendly Customer Care team for a quote and request for the 12-month instalment plan if you prefer a more personalised service. Call 6221 2111. Mondays to Fridays, 8am to 8pm and Saturdays, 9am to 3pm (excluding public holidays). Or email [email protected] anytime.
Frequently Asked Questions (FAQ)
You can choose to pay in one lump sum, or if your premium is above S$200 then you can pay in instalments by using your DBS/POSB Mastercard or Visa credit card. Just select your preferred payment method before you pay online or over the phone with us. Choose to enjoy a 3% discount on your premium when you make a single premium payment, or simply pay your premium in 12 interest-free monthly instalments. The choice is yours.
We will credit the refund of the pro-rated unused premium (“Refund Credit”) to the same credit card account, in accordance with the terms in your Product Disclosure Document.
Your IPP with the bank will terminate and the balance total outstanding amount under the IPP will be set-off against the Refund Credit, and reflected accordingly in your credit card statement.
You may do so by contacting the bank. However, please note that administrative fees may be imposed by the bank in accordance with its respective terms and conditions in the event of early redemption of the IPP (that is not due to policy cancellation). For more details, you may wish to check with your bank directly.
You may do so by contacting the bank. However, please note that the balance total outstanding amount under the IPP will become payable immediately. Do also note that administrative fees may be imposed by the bank in accordance with its respective terms and conditions in the event of early termination of your credit card account. For more details, you may wish to check with your bank directly.
We will credit the premium to be refunded to the same credit card account, and this will be reflected in your credit card statement for that billing period. There is no change to your monthly instalment amount, which will continue to be charged to your credit card every month, up to the final instalment.
If your premium is above S$200 you can pay in 12 monthly instalments. At the moment this is possible using your DBS or POSB Mastercard or Visa credit cards only. We don’t charge you interest for your premium if you wish to pay in instalments.
At the moment we only accept payment for instalment plans via DBS/POSB Mastercard or Visa credit cards.
In the future we will be bringing in other banks so that our customers have more choice when it comes to paying via instalments. This is currently in the process of being organized. In the meantime, we believe that DBS/POSB banks have one of the largest market shares for consumer banking (personal accounts).
We apologise if this causes any inconvenience to any of our customers and we thank you for your kind understanding and patience on this matter.
- Only vehicles registered in Singapore and only residents of Singapore may be insured under Budget Direct Insurance’s car, motorcycle and travel insurance policies. For other terms and conditions of Budget Direct Insurance’s insurance policies, please refer to the Product Disclosure Document for car, motorcycle and travel insurance policies that are currently published on our website, prior to purchase of such policy.
- This Budget Direct Insurance Instalment Payment Plan (“IPP”) is made available to customers
(each, an “Eligible Customer”):
- who buy a Car, Motorcycle or Annual Travel policy (“Policy”) from Budget Direct Insurance, and premiums are S$200 or more per policy;
- who pay online or over the phone using a DBS or POSB Mastercard or Visa credit card only; and
- whose insurance application must be accepted by Budget Direct Insurance.
An Eligible Customer may choose to apply for IPP before payment of the Policy by:
- (if purchasing online) selecting that option to pay the premium by IPP; or
- (if purchasing over the phone) informing the attending Customer Care Executive of their preference to pay the premium by IPP.
If a Policy which is paid by IPP, is cancelled before the end of the policy term (i.e. early
- the Eligible Customer will receive credit the refund of the pro-rated unused premium (“Refund Credit”) to the same credit card account, in accordance with the terms in our Product Disclosure Document. The IPP with the bank will terminate and the balance total outstanding amount under the IPP will be set-off against the Refund Credit and reflected accordingly in the credit card statement.
- the Eligible Customer will need to check with the bank directly on any administrative fees that may be imposed by the bank in accordance with its respective terms and conditions in such event.
- Budget Direct Insurance shall apply their standard underwriting criteria and requirements to all insurance applications, and reserves the right to reject in full or in part, any insurance application.
- The terms and conditions of the IPP may be amended by Budget Direct Insurance at any time without notice or incurring liability to any party. The decision of Budget Direct Insurance is final. Any updates to these terms and conditions will be published on the website of Budget Direct Insurance at budgetdirect.com.sg.
Our COVID-19 response: If you have been financially impacted by COVID-19 and would like to maintain your insurance protection throughout this time, please call our Customer Care team for a discussion on how we can help, find out more here.