OCBC Cashflo MasterCard
Auto-converts spend above RM500 into 0% instalments of 3 or 6 months.
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Eligibility
Minimum Monthly Income
RM 4,000 (RM 48,000 annually)
Min. Age
Cardholder: 21 years old
Supplementary Cardholder: 21 years old
Resident Status
Anybody
Documents required to apply:
You will need to provide several documents such as (varies between different banks):
Salaried Employees (Malaysian)
- A copy of your IC (both sides)
- Latest 1-3 months salary slip
- Latest 3 months bank statement
- Latest EPF statement (3 months)
- Latest B/BE Form/E-Filing with official tax receipt
Self-Employed (Malaysian)
- A copy of your IC (both sides)
- Form 24/ 29/ 49
- A&D Form (Business Registration / Trade Licence)
- Latest B/BE Form with official tax receipt
- Latest 6 months bank statements
Fees & Charges
Interest Rate
15% - 18%
Annual Fee
RM 0
Free*
Annual Fee Waiver
Yes
Free for first year and spend a minimum of RM20,000 for the subsequent years to get annual fee waiver
Late Payment Fee
RM 50 or 5% of the outstanding amount, whichever is higher
Interest Rate
15%
Features
Convert big purchases into manageable instalments, with a one-time handling fee as low as 2% for tenures of up to 20 months.
Transfer credit card balances from other banks to an OCBC card with interest rates as low as 2.88%, with no one-time processing fee.
Benefits
Benefits of the OCBC Cashflo Mastercard
- Eligible purchases of RM500 to RM999 are automatically converted into three monthly instalments.
- Eligible purchases of RM1,000 or more are automatically converted into six monthly instalments.
- Enjoy 0% interest on eligible Auto-IPP instalments, subject to OCBC's terms and repayment requirements.
- No separate enrolment or approval is needed for Auto-IPP.
- Continue using your available credit limit while making monthly instalment payments.
- Access exclusive Mastercard privileges and promotions from participating merchants.
Product review by CompareHero
What Is the OCBC Cashflo Mastercard?
The OCBC Cashflo Mastercard is an instalment credit card that automatically converts eligible retail purchases of RM500 or more into 0% interest instalment plans, with no separate application or approval required. Purchases between RM500 and RM999 are automatically split into three monthly instalments, while purchases of RM1,000 or more are split into six monthly instalments.
Instead of paying for larger purchases in one lump sum, you can spread the cost over several months while enjoying predictable monthly repayments. This makes the card suitable for everyday spending on higher-value purchases, whether you're shopping online, buying household appliances, or paying for travel.
How Auto-IPP Works
The OCBC Cashflo Mastercard features an Automatic Instalment Payment Plan (Auto-IPP) that converts eligible retail purchases into interest-free monthly instalments once the transaction is posted to your account.
Purchases between RM500 and RM999 are automatically divided into three equal monthly payments, while purchases of RM1,000 or more are divided into six equal monthly payments.
For example, if you purchase a laptop costingRM2,400, the transaction will automatically be converted into six monthly instalments of RM400. The first instalment will appear in your next credit card statement, followed by the remaining monthly instalments until the balance is fully paid.
To continue enjoying the 0% interest benefit, you should make your repayments according to OCBC's terms and conditions. Finance charges may apply if the repayment requirements aren't met.
Eligible Auto-IPP Transactions
Auto-IPP applies to most eligible retail purchases of RM500 or more, including local and overseas retail spending, online purchases, recurring payments, mail orders, telephone orders, and other qualifying retail transactions.
Auto-IPP doesn't apply to non-retail transactions such as Easy Payment Plan (EPP), Balance Transfer, Call for Cash, cash advances, government-related payments, Great Eastern insurance premiums, JomPAY, DuitNow QR transactions, annual fees, finance charges, or other fees and charges. Refunded, reversed, disputed, or fraudulent transactions are also excluded.
Fees and Charges
The principal and supplementary cards enjoy a first-year annual fee waiver. From the second year onwards, the annual fee is waived when you meet OCBC's annual retail spending requirement, subject to the bank's prevailing terms and conditions.
- Annual fee (principal): RM188 per year.
- Annual fee (supplementary): RM68 per year.
- Government service tax: RM25 per card upon activation and every anniversary thereafter.
- Cash advance: Interest is charged at 18% p.a. from the transaction date, together with a cash advance fee of5% of the amount withdrawn or RM20, whichever is higher.
- Minimum monthly payment: The higher of RM50 or 5% of your new balance plus 100% of any contracted instalment amounts, including instalment plans and balance transfers.
- Late payment fee: 1% of your outstanding retail and cash advance balance, or RM10, whichever is higher, capped at RM100.
- Overseas transaction fee: 1.00% on top of the Mastercard currency conversion rate.
Eligibility Requirements
To apply for the OCBC Cashflo Mastercard, you must:
- Be at least 21 years old.
- Earn a minimum annual income of RM48,000.
Required Documents
The documents you'll need depend on your employment status. If OCBC is unable to verify the documents you've submitted, it may request additional supporting documents before processing your application.
Salaried employees at multinational companies, publicly listed companies, government-linked companies, or government agencies
- MyKad (front and back), or passport with a valid work permit for foreigners.
- Latest one month's salary slip (fixed income), or latest three months' salary slips (variable income).
Alternatively:
- Latest EPF statement with at least three months' contributions.
- Latest Borang B/BE or e-Filing with proof of tax payment.
Salaried employees at other companies
- MyKad (front and back), or passport with a valid work permit for foreigners.
- Latest three months' salary slips.
- Latest three months' supporting bank statements.
Alternatively:
- Latest EPF statement with at least three months' contributions.
- Latest Borang B/BE or e-Filing with proof of tax payment.
Self-employed applicants (more than two years in the current business)
- MyKad (front and back), or passport with a valid work permit for foreigners.
- Form 24/29/49.
- Business Registration certificate or printout from SSM, CTOS, or CBM.
- Latest Borang B/BE or e-Filing with proof of tax payment.
Depending on your income:
- Six months' salary slips and supporting bank statements (except sole proprietors).
- Six months' principal business bank statements (shareholding above 50%).
- Latest EPF statement with at least three months' contributions (except sole proprietors).
Commission earners
- MyKad (front and back), or passport with a valid work permit for foreigners.
- Six months' commission statements and supporting bank statements.
Great Eastern agents should instead submit an HR confirmation letter together with their latest Borang B/BE or e-Filing with proof of tax payment.
Foreigners and Malaysians working overseas
- Salaried applicants: latest three months' salary slips and supporting bank statements, or CPF statement (Singaporeans and Malaysian PRs in Singapore), plus a valid work permit or Permanent Resident ID.
- Self-employed applicants: latest tax assessment from the country of employment, plus a valid work permit or Permanent Resident ID.
How to Apply
If you meet the eligibility requirements, prepare the required supporting documents before submitting your application.
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