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Ila Bank launches Easy Payment Plan feature

Wednesday 14 February 2024 13:20 CET | News

Bahrain-based ila Bank has introduced the Easy Payment Plan feature to allow clients to split their credit card purchases into instalments.

 

Accessed through the ila Bank app, the EPP service initially offers 0% interest on instalments for a limited period and is applicable to all in-store and online Credit Card transactions amounting to BHD 100 and above. 

Customers can select a preferred tenure of three, six, nine, or twelve months for monthly instalment payments on selected purchases, enabling them to manage payments over time for items that may be financially challenging to settle all at once. The process to use the EPP is straightforward, as ila Credit Card holders can log in to their ila Bank app, navigate to the Credit Card section, click on the EPP icon, and choose the eligible transaction with their desired tenure. 

Representatives from ila Bank talked about this new product launch in the company press release and emphasised that the EPP provides customers with the convenience of making staggered payments towards their purchases. The bank aims to cater to customer needs and financial goals by designing services based on client feedback, ensuring a seamless digital banking experience that aligns with evolving lifestyles. 

ila Bank's Credit Cards, ila Blue and ila Switch offer customers control over card usage along with premium Mastercard benefits. Additionally, ila's Credit Cards have cashback offers and exclusive partner deals with select outlets in Bahrain and beyond.

 

Bahrain-based ila Bank has introduced the Easy Payment Plan feature to allow clients to split their credit card purchases into instalments.

 

Other developments from ila Bank

In September 2023, ila introduced the 'ila Rewards' programme, allowing customers to select their preferred rewards for Credit Card purchases, including an automated Airmiles program, Cashback, or ila Tokens redeemable for airline miles with Gulf Air or Turkish Airlines.

The customisable rewards programme enables customers to redeem rewards in a seamless and instant way through the ila Bank application. ila Bank is one of the first banks in Bahrain to utilise Mastercard’s PwR service and the first issuer in MENA to proceed with full in-app integration to offer credit card holders a personalised end-to-end digital experience journey.

ila Rewards offers customers various compensation options: airline miles, cashback, or ila tokens. Customers can choose the programme they would like to join and are free to switch between them to meet their changing lifestyle needs.


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Keywords: banks, product launch, instalment payments, mobile banking
Categories: Payments & Commerce
Companies: ila Bank
Countries: Bahrain
This article is part of category

Payments & Commerce

ila Bank

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