When you sign up with Zip, your repayment schedule is automatically set to cover your minimum monthly repayment which is determined by your credit limit.
Your minimum repayment is either the amount stated on your contract or 3% of your owing balance (whichever is greater).
Please note, if your minimum monthly repayment increases your schedule will not increase automatically. However, you can change the frequency of your payments to weekly, fortnightly or monthly. Choose what works best for you!
To do so, start by logging into your Zip account using the Zip App, or sign-in via a web browser.
Once you've logged in:
- Select the YOUR ZIP tab.
- Select your account tile.
- Select CHANGE MY SCHEDULE.
- Select the frequency (weekly, fortnightly, monthly).
- Select the date you wish to have the schedule run.
- Enter the amount you wish to pay. Please Note: You cannot reduce the schedule below your contracted minimum amount.
- Select SAVE.