The Basics
What does buying on installments mean?
Buying on installments means paying for a product over a scheduled period instead of paying the full amount at once. A plan can include an advance payment followed by monthly installments for a defined tenure.
Pay upfront
Some plans require an advance payment.
Pay monthly
The remaining amount is paid according to the plan schedule.
Complete tenure
Payments continue until the selected plan is completed.
The Process
How an IQSATI installment journey works.
Choose a product
Browse IQSATI and select the product you want from a participating merchant.
Compare installment plans
Review advance payment, monthly installment, tenure and total payable before choosing.
Submit your application
Provide the information requested for the selected plan and send your application to the merchant.
Merchant review
The participating merchant reviews your application according to its own approval requirements.
Complete the purchase
If approved, complete any required initial payment, fulfilment steps and begin your payment schedule.
Know The Terms
Six numbers and terms worth understanding.
Cash Price
The listed product price before installment-related charges or plan costs are added.
Advance Payment
The amount paid upfront at the beginning of the installment purchase.
Tenure
The number of months over which the installment plan is scheduled.
Monthly Installment
The amount scheduled to be paid each month under the selected plan.
Markup / Plan Cost
Additional cost charged under a merchant's installment plan. The exact structure depends on that merchant and plan.
Total Payable
The full amount you are expected to pay across the advance and scheduled installments.
Compare Before You Apply
Do not compare plans by monthly payment alone.
A lower monthly installment can look attractive, but the full cost depends on advance payment, tenure and total payable.
Advance
How much do I need to pay before receiving the product?
Monthly payment
Can I comfortably afford this amount every month?
Tenure
How long will I be making payments?
Total payable
What will the product cost me over the full plan?
Merchant terms
What are the approval, fulfilment, late-payment and return conditions?
Example Calculation
Read the complete plan, not just one number.
Important
This is an educational illustration only. Actual merchant plans can use different pricing, advance amounts, charges, schedules and conditions.
Marketplace Responsibilities
Understand the role of IQSATI and the merchant.
IQSATI
- • Helps customers discover marketplace products.
- • Presents plan information for easier comparison.
- • Supports the digital application journey.
- • Provides customer and merchant account tools.
Participating Merchant
- • Provides the product and installment plan.
- • Sets applicable prices and plan terms.
- • Reviews and decides customer applications.
- • Handles fulfilment and merchant-specific obligations.
Common Questions
Installment guide FAQ.
Does IQSATI provide the installment financing itself?
IQSATI is designed as a marketplace that connects customers with participating merchants and presents installment plan information. The merchant remains responsible for its products, plan terms, approval and fulfilment.
Is the lowest monthly payment always the cheapest plan?
No. A lower monthly payment can come with a longer tenure or different total payable. Compare the complete plan, not only the monthly amount.
Can advance payment be zero?
Some merchant plans may offer zero advance, while others require an upfront payment. Availability depends on the specific product, merchant and plan.
Does every merchant use the same approval process?
No. Merchant requirements may differ. Review the plan and merchant information shown during the application journey.
What should I check before applying?
Check the cash price, advance, monthly payment, tenure, total payable and the merchant's applicable terms before submitting an application.