Installment Service for Credit Cardholders
As part of Housing and Development Bank’s commitment to delivering the best banking services, and in line with our efforts to offer added value to our credit cardholders, we are pleased to introduce a new Purchase Installment Service with the lowest administrative fees and flexible repayment periods of up to 36 months, with the first installment due in the third month following the purchase.
About the Service:
This service allows both new and existing primary and supplementary credit cardholders to convert their purchase transactions into installments at any local or international merchant, without requiring a merchant agreement with Housing and Development Bank.
To use the service, customers simply need to call our Customer Service Hotline at 19995 after completing a purchase transaction of not less than EGP 500. The installment request must be made after the purchase has been successfully posted to the credit card.
Service Benefits:
- Competitive interest rates on installment plans.
- Full grace period plus the selected installment period.
- During the grace period, the customer is NOT required to pay the full transaction amount—only the minimum due is required (5%).
- The service applies to any merchant, with no need for a prior agreement between the merchant and the bank. → This means customers can benefit from merchant discounts and then still request an installment plan, even if the merchant is not affiliated with the bank.
Example on the service:
If a customer makes a purchase of EGP 1,000 on February 1st and requests to convert it into 6 monthly installments on February 5th, the following will occur:
Refund of the original transaction amount (EGP 1,000) will be processed within the same month.
An installment fee of 7.43% of the transaction amount (EGP 74.3) will be charged during the next billing cycle and must be paid by March 26th.
The first installment payment of EGP 166.67 (EGP 1,000 ÷ 6) will be due starting from the third month (May 26th), effectively giving the customer 3 additional grace months on top of the installment period.
Terms and Conditions of the service:
- This service allows Housing and Development Bank (HDB) credit cardholders to convert purchase transactions into installments according to the following terms and conditions:
- The installment service is available for HDB credit cardholders by calling the bank’s hotline (19995) after making a purchase transaction at any merchant, whether inside or outside Egypt.
- The minimum transaction amount eligible for installment is EGP 500.
- Installment periods range from 3 to 36 months (3 – 6 – 9 – 10 – 12 – 18 – 24 – 30 – 36 months).
- Only purchase transactions that have been posted on the credit card account as retail purchases are eligible. Cash transactions are not allowed.
- There is no maximum limit on the number of installment requests, provided they remain within the customer’s approved credit limit.
- The monthly installment amount will be included in the credit card statement, in addition to the minimum due amount.
- The installment service is available for all credit card types, including primary and supplementary cards.
- The full amount of the purchase transaction must be converted to installments; partial installment is not allowed.
- The installment request can only be processed if the credit card account is active. Requests will not be processed if the account is suspended for any reason.
- The installment service is only available through the bank’s hotline and cannot be requested at any branch.
- Purchases made both locally and internationally can be converted into installments. Installment amounts and related fees will be calculated based on the equivalent value in Egyptian Pounds.
- The installment fee will be charged in the month following the approval of the installment request. The first installment is due before the 26th day of the month following the fee payment month.
- Installment requests must be submitted by calling the Contact Center only, between 12:00 a.m. and 8:00 p.m. daily.
- The installment fee is determined based on the chosen installment period and is calculated according to the rates in the table below.
