IMPORTANT: The Instalments feature will no longer be available for new purchases made from 12 August 2025. From this date, all new purchases will be placed on the Flex repayment schedule. Existing Instalment plans will continue, and you must keep making repayments as usual. For more information on these changes, please visit here.
Zip Money repayment schedules have been simplified to help you manage your purchases in a way that suits you:
1. Zip Money Flex Schedule:
The Flex Schedule gives you control over how often you make repayments —by choosing weekly, fortnightly, or monthly, depending on what works best for you.
This schedule applies to:
- All purchases under $300
- Gift Cards
- Any purchases where you have opted out of instalments.
Your Flex Schedule is aligned with the date of your first Zip Money purchase. For example, if your first purchase was on 15 January, your minimum monthly repayment (MMP) will be due on the 15th of each following month.
Important: Extra repayments or one-off repayments won’t count towards your Flex minimum for the month unless you use the "Pay Now" feature. To make an additional repayment that counts toward your monthly minimum amount, use "Make an extra repayment" in the app or web portal.
2. Instalments Schedule
Instalments Schedule helps you avoid interest by automatically splitting eligible purchases (over $300) into equal fixed monthly instalments during the interest-free period of your purchase.
For eligible purchases:
- We'll split the cost of your purchase equally into manageable monthly instalments.
- The schedule will ensure your purchase is fully repaid before the interest-free period ends.
You can also repay an instalment repayment early using the "Pay Now" option. Once repaid early, your schedule will move forward to the next due date, giving you greater flexibility.
How Repayments Work
Repayments for both schedules are automatically debited from your default payment method.
You'll see two separate repayments on your Zip account and bank statement: one for Flex and one for Instalments.
Your Flex repayment will also cover any account fees or charges.
If your scheduled Flex repayment is more than your outstanding balance, we’ll only deduct what you owe.
Interest-Free Periods & Fees
If you repay your Instalment purchases or your Flex balance within their respective interest-free periods, you won’t pay any interest.
After the interest-free period for a purchase ends, a standard interest rate of 25.9% p.a. applies to any remaining balance (check your Zip contract for merchant-specific rates).
The best part is If you have no balance, there are no fees to keep your Zip Money account open!