Zip Plus offers two repayment options (both require you to meet your minimum monthly repayment):
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Choose your repayments: Choose the repayment schedule that suits your needs by repaying weekly, fortnightly, or monthly. As long as you meet the minimum monthly repayment, you can choose the amount and frequency that works best for you.
If you choose to set a preferred repayment amount above your minimum, this amount will remain consistent each month unless your minimum monthly repayment rises above your set amount. Please make sure your set repayment schedule meets your minimum monthly repayment or we will debit the remining amount to make up your minimum repayment on your Contractual date. This ensures your account does not become overdue.
- Autopay (Avoid fees and interest): Zip will automatically schedule a repayment that repays your closing balance (total amount owing) at the end of each month. This means you won’t be charged interest or the monthly account fee.
Increasing your repayment amount helps you repay your balance faster and may reduce the interest applied to your Zip Plus account.
Understanding your minimum monthly repayment: For more information on how your Zip Plus minimum monthly repayment is calculated please click here.
Managing Your Repayment Methods: Repayments are direct debited from the nominated payment method on your account. You can change your payment method at any time, however, you need to have at least one valid payment method linked to your account at all times.