We are currently upgrading our systems to provide an even better customer experience. As a result, the Pay-in-Parts privilege programme has been discontinued until further notice. Apologies for any inconvenience caused.

The below ‘Important Disclaimers’ and ‘Detailed Terms and Condition’ of Pay-in-Parts Privilege are applicable for American Express cardmembers who are already enrolled in this program.

Pay-In-Parts Privilege

In these Terms and Conditions, the following terms shall have the following meanings:

1. "Credit Card" shall mean an unexpired Credit Card issued by American Express Banking Corp. ("AEBC") in India.

2. "Cardmember" shall mean the holder of a Credit Card.

3. "Pay-in-Parts" shall mean a product wherein purchase(s) above Rs. 5000 are converted into Extended Payment Plan ("EPP") at a rate as communicated at the time of availing the product.

The present Terms and Conditions are to be read in conjunction with, and not in derogation of, the Cardmember Agreement and nothing contained herein shall prejudice or affect the Terms and Conditions of the Cardmember Agreement. Unless otherwise specified, the words and expressions used herein shall have the same meaning as in the Cardmember Agreement.

Important Disclaimers

We wish to highlight that the Extended Payment Plan (EPP) from American Express works in a different manner as compared to various Equated Monthly Installment (EMI) options available in market. Hence, we request you to please go through the important disclaimers and terms and conditions provided below to understand the key differences.

1. Please note that Minimum Amount Due (MAD) / Total Amount Due (TAD) as mentioned in SMS / email alerts pertaining to Statement Generation / Payment Reminder or Interactive Voice Response (IVR) system will include: (a) The monthly installment billed for that particular month and (b) The total outstanding amount to be billed as monthly installments in current month and subsequent months for Pay-In-Parts Plan. To know your monthly installment amount for Pay-In-Parts plan please call our 24 hours Customer Service.

2. Any credit balance (arising either due to amount paid in excess of your full outstanding balance in a particular month or due to any credit entry received or due to any fee or applicable taxes levied), as reflected in your Card Account, will not be applied towards Pay-In-Parts installments due and will remain as a credit balance in your Card Account. Further, any subsequent payment made to your Card Account in case of such credit balance state will also not be applied towards payment of Pay-in-Parts installment. If you wish to apply this credit balance or any incremental payments made to your Card Account towards payment of Pay-In-Parts installment or wish to pre-pay the aggregate of all unbilled Principal Amounts in full, please call our 24 hours Customer Service.

3. In case monthly installment amount for Pay-In-Parts Plan is unpaid for a month, such missed installment amount will continue to remain overdue and will be added to monthly installment amount for the last installment of the Pay-In-Parts Plan. Please call our 24 hours Customer Service to confirm amount payable against such missed installment and to request application of any payment towards such missed installment amount to avoid accrual of any Late Payment Fee / Interest Charges.

4. In case of the Card Account going over limit due to overutilization beyond the default credit limit and in case of scenarios explained in Point No. 3 and 4 above, please call our 24 hours Customer Service to know your Minimum Amount Due (MAD) / Total Amount Due (TAD) and to apply any incremental payments made to your Card Account towards payment of Pay-In-Parts installment.

5. Applicable government taxes, such as Service Tax, are levied on Pay-In-Parts Plan Interest Charges. However such charges are not considered while calculating the monthly installment amount for Pay-In-Parts plan. The shortfall accrued in principal amount to adjust for the inclusion of applicable taxes is calculated and added to the last monthly installment amount. Hence the last monthly installment amount will be incremented by such adjustment amount and applicable taxes and will be higher than that of previous monthly installments.

6. For Pay-In-Parts requests received at Point of Sale, the monthly installment amount mentioned on payment charge slip (at offline merchants) or payment confirmation page (at online merchants) are only indicative and may vary after actual Pay-In-Parts Plan conversion. Please refer to the monthly installment amount for Pay-In-Parts Plan as mentioned in your Card Account.

7. Should you decide to cancel your Card Membership with American Express in future, please remember to call our 24 hours Customer Service to foreclose any Pay-In-Parts Plan running on your Card Account followed by closure of your Card Account.

8. Please note that depending upon the Pay-in-Parts Plan initiation date, the actual tenure of the Pay-in-Parts Plan opted by you may be increased or decreased by up to twenty (20) days from the tenure (6 or 12 months) as chosen by you and consequently, the interest amount and the Monthly Installment Amount will be calculated in accordance with the actual tenure of the Pay-in-Parts Plan

Detailed Terms & Conditions

1. Eligibility

1.1 The Pay-in-Parts Privilege facility is open to select American Express Credit Cardmembers, who are residents of India and whose accounts are in good standing.

1.2 Only Basic Credit Cardmembers can make a request for conversion of a charge into Pay-in-Parts Privilege, irrespective of whether the charge was made by the Basic Cardmember or Supplementary Cardmembers attached to the Basic Card account. The Cardmember can convert any charges above Rs.5,000 included in any statement into Pay-in-Parts Privilege before the Payment Due Date of the statement in which the transaction is billed.

1.3 American Express reserves its absolute right and discretion to approve or decline any request for Pay-in-Parts Privilege. It is further clarified that transactions under certain merchant categories esp. Jewelry transactions cannot be converted into Pay-in-Parts privilege.

1.4 When you make a purchase under Pay-in-Parts Privilege, the available credit on your American Express Credit Card Account shall be reduced by an amount equal to the Principal Amount not with-standing that your account statement for any month will reflect only the Installment amount due from you for that Pay-in-Parts Privilege transaction during that month.

1.5 Cardmembers can, at any point in time, avail upto six charges for conversion into Pay-in-Parts Privilege, subject to availability of credit limit.

1.6 Only the complete charge / transaction amount are eligible for the Pay-in-Parts Privilege and any requests for part of the charge or clubbing of multiple charges into Pay-in-Parts Privilege are not allowed

2. Interest and Installments

2.1 The "Pay-in-Parts Privilege" interest charges on Pay-in-Parts Privilege transaction is charged at a rate communicated to you at the time that you avail the facility. We reserve the right to change the offered Pay-in-Parts Privilege interest rate from time to time and furthermore, reserve the right to simultaneously offer varying Pay-in-Parts Privilege interest rates for purchases and different items and by communication channel and media.

2.2 Regardless of when the date of your purchase falls within your Billing Period, the monthly amount to be paid under the Pay-in-Parts Privilege shall be calculated as the Principal Amount along with the compounded Interest charges for the tenure of the Pay-in-Parts Privilege divided by the Pay-in-Parts Privilege tenure.

2.3 Any change in the Pay-in-Parts Privilege interest rate shall not affect Pay-in-Parts Privilege transactions entered into prior to the effective date of that change.

2.4 Once the Pay-in-Parts Privilege tenure has been notified to you, the same cannot be changed

3. Payment and Prepayment

3.1 The installment amount for each Pay-in-Parts Privilege transaction shall be paid in full each month, notwithstanding the minimum monthly payment requirements stipulated in the Cardmember Agreement. The agreement of all Pay-in-Parts Privilege Installments amounts for any Billing Period will be added to the minimum monthly payment calculated in respect of all other charges or outstanding balances for that billing period. We reserve the right to charge default interest on any unpaid or partially paid Installment Amount.

3.2 Any amount in excess of your full outstanding balance reflected in your current statement, will result in a credit balance lying in your card account and will not be applied to unbilled Pay-in-Parts Privilege installment amounts.

3.3 You may pre-pay the aggregate of all unbilled Principal Amounts in full (but not part) by calling our customer service

3.4 Notwithstanding anything stated elsewhere, the Bank at its sole discretion reserves the right to off-set any credit balance on the card account against any due Pay-in-Parts Installment. This adjustment will reflect on the card member’s statement of account. This action will supersede the condition as laid down under point no. 2 mentioned in Important Disclaimers mentioned above.

4. Cancellation of Pay-in-Parts Privilege facility

4.1 In case your Credit Card Membership is terminated either by you or by us, including the event of delinquency, the aggregate of all unbilled Installments Amounts to be paid by you over the unexpired Pay-in-Parts Privilege term shall become immediately due and payable as one consolidated amount.

4.2 In the event the Cardmember wishes to cancel the Pay-in-Parts Privilege facility, the Cardmember must make the request for cancellation of the Pay-in-Parts Privilege before initial payment due date of that charge.

4.3 In the event of cancellation of Pay-in-Parts Privilege facility, if the balance in the Cardmember's account is revolving, then the above mentioned amount, (remaining Principal amount along with the cancellation fee) shall be added to the revolving balance and shall attract the standard credit card interest charges as specified in the Schedule of Charges.

4.4 Requests by Cardmember for transfer from one Pay-in-Parts Privilege facility to another shall not be entertained by American Express.

4.5 American Express reserves the right to foreclose the Pay-in-Parts Privilege and debit the entire outstanding amount if the earlier payments are overdue

5. Credit Limit Implications

5.1 The Credit Limit on the Credit Card shall be blocked to the extent of the full transaction amount. The Credit Limit will be released as and when the EPP is billed and paid for in subsequent months

6. Prior Agreement

6.1 These installment Payment Plan Terms and Conditions supplement the Cardmember Agreement.

6.2 American Express reserves its absolute right at any time to add, alter, modify or change or vary terms and conditions herein and such amendment(s) / modification(s) shall be binding on the Cardmember.