Lucrative 12-month installment cards – best bank offers

Which banks offer 12-month interest-free installment cards

Currently, there are 4 issuing banks on the installment card market that provide the above-mentioned service. Please note that at this moment we are not considering installments provided on credit cards. In essence, we invite you to apply online and obtain classic 12-month installment cards, which have the generally accepted principle of providing goods in installments and differ from the grace period principle of a credit card (in the latter case, credit cards are full-fledged banking products with certain conditions for using the credit limit in accordance with the selected tariff plan).

1. Qiwi Bank. "Sovest" installment card.
2. Home Credit Bank. "Svoboda" 12-month installment card.
3. Sovcombank. "Halva" card.
4. Alfa-Bank, "Vmestodeneg" card (archived).

Each of the suggested banks has its own card description in accordance with the tariff plan. The maximum allowable credit limit is 300 thousand RUB (350 thousand). An installment term of up to 12 months is available for all banking products. The annual maintenance fee for the card is 0 RUB.

Qiwi Bank – Sovest card with installments up to 12 months

An innovative banking product from Qiwi Bank, which delivers the card exclusively by courier service and only to certain regions. When applying, you must consider the possibility of courier delivery for your region of residence. If the bank client for some reason fails to pay off the installment plan, an interest rate of 10% begins to apply (the lowest in this segment).

• SMS notifications about transactions and payments are free of charge.
• The maximum allowable credit limit does not exceed 300 thousand RUB.
• Installments are provided from 1 to 12 months.
• Cash withdrawals using the card are not provided for by the tariff plan.
• No penalties are charged for early repayment of funds.

Attention! Before applying for the card, check the availability of courier delivery to your city on the official website of the issuing bank.

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"Svoboda" installment card from Home Credit Bank

The Home Credit 12-month installment card "Svoboda" is very popular among borrowers. This is a unique banking product that can be obtained after approval at a bank branch. However, if you are ordering the card for the first time and there is a bank branch in your region, courier delivery of the card directly to your home is available.

• When purchasing goods, a 12-month installment plan is available.
• The maximum approval amount is 300,000 RUB.
• The standard interest rate is 29.8%.
• SMS alerts are free of charge.

However, if you request a card reissue on your own initiative or the banking product is damaged, the reissue fee is 200 RUB. If reissued at the initiative of the credit institution, the fee is 0 RUB.

"Halva" 12-month installment card from Sovcombank

Today, based on customer reviews, the undisputed leader in this segment is the 12-month Halva installment card. This unique banking product is available to a wide range of borrowers who have duly appreciated the benefits of installments from Sovcombank. The main terms of service for the card are:

• The banking product uses the Mastercard payment system standard.
• If you timely repay your debt on the 12-month Halva installment card, no penalties will be applied.
• The maximum credit limit is the highest in this financial services segment, amounting to 350,000 RUB.
• The installment period is 12 months, with installment terms available up to 1.5 years.
• SMS notification is completely free.

The Halva card is one of the installment cards where you can receive not only installments for purchases in stores, but also cashback. Within a month, you can accumulate up to 5,000 points, which is equivalent to 5,000 RUB.

How to get the maximum installment plan

To get the maximum possible 12-month installment plan from the issuing bank using the card, you will need to review the tariff plan and the special conditions of use. Our financial services selection service suggests paying attention to the following points:

• Install the mobile app or register your personal account on a computer.
• Check the "Partner Stores" section for companies that offer 12-month installments in your region.
• Visit a store or make a purchase online.
• Receive a subsequent report showing the amount required for your monthly payment after the purchase.
• Pay for the goods in equal parts over 12 months.
• You are allowed to pay off your existing debt without penalties.
• Enable free SMS notifications to receive messages about upcoming payments and current expenses.

Important! Only by using accurate information about partner stores can you precisely determine which product category and which store will provide you with a 12-month installment plan. The standard installment period ranges from 1 month (more often from 3) up to 12 months.

What to do if you miss a card payment

First of all, you need to read the tariff plan for the installment card of your chosen issuing bank. Some banks allow a few days of delay without charging penalties. For instance, the Halva card features a fixed penalty of 590 RUB for the first delay. The second delay incurs a 590 RUB penalty plus an additional 1% of the debt. The third delay incurs 590 RUB plus an additional 2% of the debt. Thereafter, the standard interest rate for a credit product applies, which is 10%. If conditions are not met, the rate increases to 19%.

Cash withdrawals also incur fees. For example, the same Halva card carries a fee of 2.9% plus an additional 290 RUB. However, there are special offers for the Halva installment card from Sovcombank: you can get up to 6% cashback on every purchase. Additionally, by using your own funds, you can earn interest on the balance at a rate of 5.5% if you make at least one purchase, or 7% if you make 5 purchases totaling at least 10,000 RUB.

Thus, 12-month installment cards are a unique opportunity not only to benefit from your favorite purchases, but also to earn a decent return on purchases and earn interest on your own funds in the card account. The validity period of the banking product depends on the tariff plan; for example, Sovcombank has set a validity period of 10 years for its installment card.