---
title: Instalment Payment Plan (IPP)
description: What is senangPay's IPP and how does it work?
---

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1. [Support Guide](https://guide.senangpay.com/?hsLang=en)
2. [Payment Solutions](https://guide.senangpay.com/payment-solutions?hsLang=en)
3. [Instalment Payment Plan (IPP)](https://guide.senangpay.com/payment-solutions?hsLang=en#instalment-payment-plan-ipp)

# Instalment Payment Plan (IPP)

## What is senangPay's IPP and how does it work?

senangPay's Instalment Payment Plan, or IPP, is a product developed in partnership with Pine Labs that allows customers to pay for their purchases with multiple instalment tenures.​

With senangPay's IPP, you can integrate with multiple banks through a single Merchant ID with only a one-time activation fee.

### A. What partnering banks do senangPay's IPP offer?

Currently, senangPay offers integrations with the following banks, with the following tenures offered:

| **Bank** | **3 months** | **6 months** | **12 months** | **24 months** |
| --- | --- | --- | --- | --- |
| **HSBC Bank** | Yes | Yes | Yes | Yes |
| **Affin Bank** | Yes | Yes | Yes | Yes |
| **AmBank** | No | Yes | Yes | Yes |
| **Standard Chartered Bank\*\*** | Temporarily unavailable. |  |  |  |
| **OCBC Bank** | No | Yes | Yes | Yes |
| **Alliance Bank** | No | Yes | Yes | Yes |
| **RHB Bank** | Yes | Yes | Yes | Yes |
| **UOB** | Yes | Yes | Yes | Yes |

More banks may be integrated at a later time. Any changes to our partnering banks will be updated here. Please stay tuned to our social media channels as we may update the list of banks there as well.

⚠️ \*\*Note: The Standard Chartered Bank Instalment Payment Plan (IPP) option is currently not available. We will update once it's reactivated.

### B. Which senangPay packages can apply for IPP?

Currently, only *Advance* and *Enterprise* package subscribers can apply for senangPay's IPP. If you are a *Starter* package subscriber and wish to upgrade, please refer to [this guide page](https://guide.senangpay.com/how-do-i-upgrade-my-senangpay-package?hsLang=en).

### C. **Merchant eligibility**

- Merchants with an online website; and
- a physical store and office.

This is to reduce the risk of onboarding merchants that plan to use BNPL cash-out services.

### D. What are the documents required to sign up for IPP?

You will be required to submit the same documents as per your normal onboarding process. Please refer to [this page](https://guide.senangpay.com/full-list-of-required-documents?hsLang=en) for more details.

### E. Approval period

The approval period for use of IPP is within two (2) working days.

### F. What are your standard rates?

For our standard go-to-market rates, please refer to the table below. Keep in mind that these rates are not fixed and are open to negotiations on a case-by-case basis.

| **Bank** | **3 Months** | **6 Months** | **12 Months** | **24 Months** |
| --- | --- | --- | --- | --- |
| **Affin Bank** | 3.70% | 4.00% | 5.10% | 7.50% |
| **Alliance Bank** | N/A | 4.00% | 5.10% | 7.50% |
| **AmBank** | N/A | 4.00% | 5.10% | 7.50% |
| **HSBC Bank** | 3.70% | 4.00% | 5.10% | 7.50% |
| **OCBC Bank** | N/A | 4.00% | 5.10% | 7.50% |
| **RHB Bank** | 3.70% | 4.00% | 5.10% | 7.50% |
| **Standard  Chartered** | 3.70% | 4.00% | 5.10% | 7.50% |
| **UOB** | 3.70% | 4.00% | 5.10% | 7.50% |

### G. Minimum product amount

| **Bank** | **3 Months** | **6 Months** | **12 Months** | **24 Months** |
| --- | --- | --- | --- | --- |
| **Affin Bank** | RM500 | RM500 | RM1000 | RM2000 |
| **Alliance Bank** | - | RM500 | RM1000 | RM2000 |
| **AmBank** | - | RM500 | RM1000 | RM1000 |
| **HSBC Bank** | RM300 | RM500 | RM500 | RM2000 |
| **OCBC Bank** | - | RM500 | RM1000 | RM2000 |
| **RHB Bank** | RM300 | RM500 | RM500 | RM500 |
| **Standard Chartered** | RM1000 | RM1000 | RM1000 | RM1000 |
| **UOB** | RM300 | RM500 | RM500 | RM500 |

 

### H. Are there any annual fees or registration fees?

Upon registration, you will need to pay a **one-time setup fee of RM650**. There is no annual maintenance fee.

### I. Settlement schedule

The settlement schedule shall follow the same schedule as for credit cards, which is on Wednesdays and Fridays. Please refer to [this guide page](https://guide.senangpay.com/senangpay-doku-settlement-schedule?hsLang=en) for more information. 

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    - [Buy Now, Pay Later](https://guide.senangpay.com/payment-solutions?hsLang=en#buy-now-pay-later)
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