Manage spending more easily with 'Split purchase' on Mox Credit
Pay just HKD1* to split a purchase of up to HKD8,000 over 3 months
Hong Kong, 28 July 2021 – Mox Bank Limited (“Mox”) launched another new feature on Mox Credit called ‘Split purchase^’. Mox Credit customers can easily split eligible Mox Credit transactions of HKD400 or more authorised from 26 July 2021 onwards into equal monthly instalments, ranging from 3 to 36 months.
3 to 36 months - split purchases easily without stressing over monthly cashflows
As an introductory offer, Mox Credit customers can split an eligible Mox Credit transaction of up to HKD8,000 over 3 months for just HKD1* in total fees and interest. Mox Credit customers can select longer payment timeframes - up to 36 months - and/or split higher Mox Credit transaction amounts and they’ll clearly see the applicable fees and interest in the Mox app before submitting their Split purchase application^. Application response is instant. They can have up to 5 Split purchases active at the same time. Application is also simple - select the eligible Mox Credit transactions you want to split in the Mox app, and follow the instructions.
Deniz Güven, CEO of Mox, said: “Spending with the Mox Card has become very popular. With around 150,000 customers, our Mox Card has been used almost 5 million times. ‘Split purchase’ is another new feature that empowers Mox Credit customers to better plan their spending budgets and take control over their monthly cashflows where they can buy now and pay later. It is easy, convenient and fast. Customers can now make all the right decisions when they spend.”
No documents are required for a ‘Split purchase’ application. Once the application is approved, the one-off fee and each monthly instalment for the ‘Split purchase’ will be charged to Mox Credit and show on the Mox Credit statement.
For more details on ‘Split purchase’, please visit mox.com.
*HKD1 reflects the total fees and interest for the Split purchase, including the one-off fee and all monthly fees. The one-off fee and each monthly instalment for a Split purchase are charged to Mox Credit and will show on your Mox Credit statement. For a Split purchase on a Mox Credit transaction of up to HKD8,000 into 3 monthly instalments, the Annualised Percentage Rate (APR¹) is 0.07% - 1.16%. Please pay your Mox Credit statement balance in full on or before its due date to avoid finance charges (interest). Fees and charges will be reviewed from time to time. Please view the Split Purchase Key Facts Statement in the “Legal documents” section of our website here.
¹The APR is calculated based on the guidelines as set out in the Code of Banking Practice. An APR is a reference rate which includes all applicable basic interest rates, fees and charges of a product expressed as an annualised rate.
^Terms and conditions apply. Please check out the details at mox.com.