UBL Installment Plan makes buying your favourite product on Daraz easier!
UBL has partnered with Daraz to launch Easy Monthly Installments on the e-commerce platform. This move will allow UBL customers to access a smoother installment process, that is now available for a broader range of products.
Currently, UBL offers its installment plans, but those are limited to a small range of brands. This move will not only ease the provision of a monthly installment service but also open it up to a wide range of products available on the Daraz store.
UBL Installment Plan Procedure
To activate the easy monthly installment plan, simply follow these steps:
- Select a product with a value of over PKR 10,000
- Add to cart after confirming that product is from a genuine seller
- Select Easy Monthly Installment Plan at checkout
- Pay Now using your UBL Credit Card
Plan Terms & Conditions
UBL offers three tenures for the easy monthly installment plan. All three have a flat markup of 0%. Processing fees are also the same across the board at 1.5% or PKR 1,500, whichever higher.
Therefore, if we want to purchase a Haier 1.5 Ton Inverter Air Conditioner, the details work out as follows. Paying upfront, the product costs PKR 78,999. This leads to a per month cost of PKR 26,333 for the three-month tenure, PKR 13,166 for the six-month tenure, and PKR 6,583 for the twelve-month tenure.
| Tenure | Markup | Fees |
|---|---|---|
| 3 Months | 0% | 1.5% or 1,500 |
| 6 Months | 0% | 1.5% or 1,500 |
| 12 Months | 0% | 1.5% or 1,500 |
Since the product costs PKR 78,999, the processing fees will be PKR 1,500 as that is higher than 1.5% of the product cost.
As such, the total cost at the end of tenure will work out to PKR 80,499.
In addition to UBL, MCB also has very competitive rates. To compare the terms of all five banks partnering with Daraz for easy monthly installments, read our in-depth comparison.
