The instalment fee is calculated at 1% of the transaction value at checkout.
For example, a $600 purchase with a default interest free period of 3 months is extended to 6 months interest free.
1% of $600 is $6, this fee is then multiplied by the 3 month extension period, giving a total of $18.
The $18 extension fee will be split evenly across all instalments meaning you only pay an additional $3 per month if on a monthly schedule.
If you are on a fortnightly or weekly repayment, fees will be automatically adjusted to match the schedule.
If you decide to opt out of instalments early please note that previous instalment fees placed on the account are not eligible for a refund, although any upcoming fees will be forfeited.