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How Easy Instalments work.

Read time 6 min
An Easy Instalments plan helps you pay off an eligible purchase or credit card balance in manageable monthly instalments. You can set them up in the app.

Easy Instalments

An Easy Instalments plan can help you pay off an eligible purchase or a credit card balance in manageable monthly instalments. There are two types of Easy Instalment plans: Purchase Plans and Balance Plans.

The two types of Easy Instalments

Purchase Plans

Purchase Plans help you spread the cost of up to five eligible purchases over four manageable monthly instalments. If you have an eligible purchase, you’ll get an offer in the Bankwest App.

Balance Plans

Balance Plans help you pay off all or part of your purchase balance over an agreed term at a lower rate. If you’re eligible for a plan, you’ll get an offer in the Bankwest App. From there, you can apply for the plan that best suits you.

Eligibility

To be eligible you ll need to be the primary cardholder, and not have exceeded your limit or be in default.

How Easy Instalments work

Purchase Plans

1. Make a purchase

Any eligible purchase between $100 and $10,000 will work.

2. Set up your plan

Log in to the app, and search ‘Offers’. You can set up a plan if you have an eligible purchase and at least one of your five plans available.

3. Keep up to date

Track your Easy Instalments in the app to see how much you’ve already paid and how much you’ve got left to pay.

Balance Plans

1. Choose your instalments

Tell us how much you can comfortably pay each month.

2. Get a lower interest rate

The purchase balance you put on your plan will have a lower interest rate for the length of your plan.

3. Track your progress

See how much you’ve already paid and what’s left to pay off in the app.

What to pay each month

Each month when your new statement is issued, we’ll calculate your different repayment options in the app. You’ll still need to meet your current and future monthly minimum payment.

To keep your interest free days

You’ll need to pay the following by the payment due date:

  • Your monthly instalment amount (for plans created before 25 March 2025, this includes any instalment amounts that are outstanding)
  • Any closing balance not part of an Easy Instalments plan
  • Any balance that is not a promotional or introductory balance transfer.

To stay on top of your plan

Pay your monthly instalment and your minimum monthly payment by the payment due date — we’ll tell you this amount in the app.

How we apply payments

If you have accepted an offer for an Easy Instalments plan, we’ll apply your credit card payments first towards your monthly instalment amount (for plans created before 25 March 2025, this includes any that are outstanding).

This means any other amounts that attract a higher interest rate (like a cash advance and any purchase not on a plan) may be repaid later, which could result in you paying higher interest charges.

Common questions

No, your credit limit won’t change if you set up an Easy Instalments plan.

We'll send you an email within two business days through Bankmail in online banking, where the details of your plan will be confirmed.

You will need to make the minimum monthly payment (plus any ‘Amount due immediately’) for your credit card (found on your statement) to avoid a late payment fee.

Plans created before 25 March 2025: Any instalments that you don’t pay by the end of the plan term will revert to your Annual Purchase Percentage Rate.

Plans created on or after 25 March 2025: Any instalments that you miss or don’t pay in full by the due date will revert to your Annual Purchase Percentage Rate when your next statement issues.

Please refer to the Easy Instalment Terms and Conditions for more information.

Any scheduled payments you have won’t change automatically, but you can update them to include your instalments. If you've chosen the full closing balance payment option for your scheduled payments, you’ll need to update them, otherwise the Easy Instalment plan amount will also be paid off. For further guidance, message us in the Bankwest App.

You can, but if you have any balance that’s not on a plan, your payments will go towards paying that down first.

You can find your plan repayment options, plus the due dates for your payments in the Bankwest App. Remember, you’ll also see your plan details on your monthly statement.

Purchase Plans − common questions

If the purchase you've chosen for your Easy Instalment plan is in your last credit card statement, and you haven't paid the closing balance for that statement, make sure you deduct that Easy Instalment plan amount from your closing balance when paying it off to keep your plan active.

Not all purchases are eligible — things like balance transfers, cash advances, purchases on a current promotional offer, gambling transactions and purchases made more than 30 days prior can’t be put on a plan. Only the full purchase amount can be put on a plan. If you've started paying back your credit card, you'll only be able to choose purchases that are less than your outstanding balance. Your transactions will appear in order from newest to oldest.

If you’ve recently made a purchase, it might still be marked as ‘authorisation only’, so it’s best to check back in once the purchase has been fully processed.

Yes, you can have up to five Purchase Plans on a credit card account at any one time. Once the eligible amount is repaid or the plan term expires for one of the purchase plans, you can set up a new one once it re-appears in your 'Offers and options' section.

Balance Plans − common questions

The portion of your purchase balance that you put on the plan will be charged at a lower interest rate, so you’ll pay less interest on that amount for the life of the plan.

It’s the combination of purchases and interest currently on your credit card. It doesn’t include balance transfers or cash advances.

This will accrue interest at your credit card’s current purchase rate subject to any interest free period on purchases which may apply.