Zip Pay
Zip Pay is always interest free!* Your purchases through Zip Pay will never incur interest.
Zip Plus
No interest charged on owing balances of $1,500 or less at the end of each calendar month.
Zip Money
Zip Money is an interest-bearing account, but every Zip Money purchase comes with its own interest-free period.
What interest-free periods are offered with Zip Money?
A purchase made with Zip Money can receive an interest-free period of 3 to 60 months. The interest-free period that applies to your purchase will depend on:
- the purchase price of the item
- the promotion offered by the merchant (or by Zip for periods up to 3 months)
- your minimum monthly payment (MMP), which is set according to your credit limit
Each purchase on your account has its own interest-free period. It may differ from your other purchases and is not based on your overall credit limit.
What happens if I don’t repay my purchase within the interest-free period?
If a balance remains after your interest-free period ends, the remaining amount will begin to accrue interest at the standard variable rate of 25.9% per annum** (as at 1 June 2023).
You can find your interest rate on your most recent statement.
How can I keep track of my interest-free periods?
The Zip App provides a clear breakdown of your:
- balance currently in an interest-free period
- balances that will move to interest-bearing within the next 60 days
- total interest-bearing balance
This makes it easier to plan your repayments and avoid interest.
*Minimum monthly repayments are required. A monthly account fee of $9.95 applies and is subject to change. Pay your closing balance in full by the due date each month and we’ll waive the fee. Available to approved applicants only and subject to completion of satisfactory credit check. Other charges may be payable. T&Cs apply.
**Available to approved applicants only and subject to completion of satisfactory credit check. Minimum monthly repayments are required. Paying only the minimum monthly repayment amount will generally not repay the purchase within the interest free period. A monthly account fee of $9.95 will also apply and a one-off establishment fee may apply for new customers. Any balance outstanding at the expiry of the interest free period will be charged at the standard variable rate, 25.9% per annum as at 1 May 2023. Other charges may be payable, see T&Cs. Interest, fees and charges subject to change. Terms & Conditions apply and are available on application. See your contract for further details. Credit provided by ZipMoney Payments Pty Ltd (ABN 58 164 440 993), Australian Credit Licence Number 441878).