Terms and Conditions for Pay in Installments

1. The LANDBANK Credit Card’s Pay in Installments allows the Cardholders to pay for goods and services on installment basis with partner merchants for a specified term according to the Terms and Conditions specified by LANDBANK.
    
2. The Pay in Installments is available to all Principal and Supplementary Cardholders (except for DOSRI and Corporate accounts) whose cards are active, in good credit standing, and have available credit lines.
    
3. LANDBANK Credit Cardholders can enjoy 0% interest on installments in various partner establishments in both Instore or Online stores bearing the Pay in Installments logo. The list of partner merchants is found in the LANDBANK website under Credit Cards menu.
    
4. The Pay in Installments is valid on a single-receipt purchase transaction of at least PhP3,000, payable up to 24-month installment term. However, merchants have sole discretion on the installment terms and minimum spend requirement to qualify for installment which may vary per item and merchant. Partner merchant may set a higher spend requirement which may vary per term, item and outlet. No maximum amount for the transaction as long as it is within the Cardholder’s available credit limit.
    
5. Qualified Cardholders can amortize at 0% interest on the total price of the items purchased under Pay in Installments for the duration of the installment plan, available at 3, 6, 12, and 24-month installment terms or as otherwise specified by the merchant offering Pay in Installments. 
    
6. Applicable installment terms vary per merchant/partner establishment or per outlet or item. It can be applicable on selected items only, at the option of the merchant, and may differ on product models per establishment. 
    
7. LANDBANK does not guarantee the quality of the product or service subject of the installment charge slip or installment contract. Any defect or damage on the product or service shall not affect or excuse Cardholders’ obligation to pay his/her account. 
    
8. The cash price and credit card price for 0% interest on Installment transactions shall be the same.
    
9. All decisions made by LANDBANK Credit Cards or partner merchants regarding transactions made hereunder are considered final. 
    
10. Purchases are subject to approval based on the available credit limit of the Cardholder at the time of purchase. 
     
11. All transactions are subject to LANDBANK Credit Cards’ transaction authorization rules. 
     
12. The approved installment transaction is automatically deducted from the Cardholder’s available credit limit. 
     
13. The first monthly amortization will be reflected on the next cut-off date once the transaction is posted.
     
14. Each monthly installment amount forms part of the Minimum Amount Due on Cardholder’s Statement of Account. 
     
15. The Cardholder incurs no additional fees for using the Pay in Installments. The Cardholder, however, may pre-terminate its availment of 0% interest installment by calling the LANDBANK Customer Care Hotline. In case of pre-termination, Cardholder must settle the full amount of the remaining principal balance, as well as pay a pre-termination fee of 5% of the remaining balance or Php300, whichever is higher. 
     
16. Any two (2) unpaid amortizations shall constitute default and shall result to the remaining unpaid installments to become due and demandable. Any unpaid amount shall incur interest and surcharges in accordance with the Terms and Conditions governing the issuance and use of the LANDBANK Credit Card.
     
17. The Cardholder’s use of Pay in Installment shall be considered as his/her acceptance to be bound by these Terms and Conditions and such amendments hereof as may be made by LANDBANK Credit Cards and advised from time to time.
     
18. LANDBANK Credit Cards Installment purchases are subject to the standard Terms and Conditions Governing the Issuance and the Use of LANDBANK Credit Cards.

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