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Masterata – instalments

With Masterata credit card you can buy regardless of your current account balance, whether you are in Serbia, abroad or you are making a purchase via the Internet. The possibility of repayment in equal monthly instalments without interest is the main advantage of our Masterata.

Why is it good to use Masterata?

Step into the new world of shopping! Use Masterata and enjoy shopping with a number of benefits:

The first installment is due for payment only after 30 days, and the limit can be up to 6 monthly earnings.

  • Masterata Payment in installments without interest and commission can be used for transactions at ours POS terminals with partners with whom the Bank has concluded a cooperation agreement.

  • For any Online payment with Masterata credit card, Masterata will function according to the 2nd or 3rd repayment model (depending on the amount you pay). Please find the details of these repayment models below, in this section How does Masterata Work.

  • With Masterata you also have the possibility of early repayment of all the instalments.  Whether you are paying for the purchase in instalments without interest at our partners’ points of sale or with a 5% fee in other stores, you can early repay all your instalments via e-banking.

  • If you wish to repay early the revolving part of your Masterata credit card purchase, you don’t have to come to the branch! E-banking and M-banking allow you to repay early all your dues.

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How does Masterata work?

Three repayment models

1. Without interest and fee at Masterata partners’ points of sales regardless of the amount

When you use the Masterata credit card at our POS terminals at merchants with whom we have a cooperation agreement, you can pay the entire amount you spend in equal installments, at no additional cost. The number of installments is determined by you and you announce it to the merchant when paying. The number of installments can be from 2 up to 24, depending on the Masterata partner where you made payments.

For the List of Masterata partners and the maximum number of instalments into which you can break down your purchase at their stores, click here.

At our partners’ stores (except for online payments), the total amount spent is entirely free of interest and fees!

For any Online payment with Masterata credit card, Masterata will function according to the 2nd or 3rd repayment model (depending on the amount you pay). Please find the details of these repayment models below, in this section How does Masterata Work.

[1] If you do not declare the number of installments that you want in order to pay for the purchase, the payment will be executed according to the modality number 2.

 

Representative example of paying with Masterata credit card at Masterata partners' points of sales
The amount of purchase made in 24 instalmentsRSD 50,000
Instalment amount (RSD 50,000/24 instalments)RSD 2,083
NIR annual0%
Instalment payment service fee 0%
Monthly card maintenance feeRSD 250
Total monthly payment for the model without interest calculation (instalment amount + monthly card maintenance)RSD 2,333
Expenses related to credit card approval, known at the moment of publishing
Bill of exchangeRSD 50
Credit Bureau basic reportRSD 246
EIR annual14,08 %
The total amount paid by the client during the repayment periodRSD 56,000
EIR calculated on 19/06/2019

The calculation of EIR includes: the cost of card maintenance that is paid on a monthly basis, as well as the cost of bill of exchange and Credit Bureau that is paid on a one-time basis upon approval of the Masterata credit card.

2. Interest-free instalments in the country and abroad for payments exceeding 3.000 RSD

If you use the card at POS terminals abroad or in the country at the retailers’ we have not concluded cooperation agreement with, the spent amount exceeding 3.000 RSD can be paid in minimum 3 and maximum 6 equal monthly instalments, in accordance with a defined scale given below. According to this model, one-time fee is charged in the amount of 5% of the amount spent, which will also be broken down into instalments.[2]

Number of instalments against the amount

  • In 3 monthly instalments for amounts from 3.000 RSD to 9,999.99 RSD
  • In 4 monthly instalments for amounts from 10.000 RSD to 14,999.99 RSD
  • In 5 monthly instalments for amounts from 15.000 RSD to 19,999.99 RSD
  • In 6 monthly instalments for amounts exceeding 20.000 RSD

 

Representative example of paying with Masterata credit card at non-partner sellers and for online payments in the country
The amount of purchase made in six instalments from domestic non-partnersRSD 50,000
Instalment amount (RSD 50,000/six instalments)RSD 8,333
NIR annual0%
Instalment payment service fee 5% of the amount of the transaction (RSD 2,500)
Monthly card maintenance feeRSD 250
Total monthly payment for the model without interest calculation (instalment amount + fee broken down in instalments + monthly card maintenance)RSD 9,000
Expenses related to credit card approval, known at the moment of publishing
Bill of exchange50 RSD
Credit Bureau basic report246 RSD
EIR annual 36.37%
The total amount paid by the client during the repayment periodRSD 54,296
EIR calculated on 19/06/2019

The calculation of EIR includes: the cost of card maintenance that is paid on a monthly basis, instalment payment service fee, as well as the cost of bill of exchange and Credit Bureau that is paid on a one-time basis upon approval of the Masterata credit card.

Representative example of payment with Masterata credit card abroad in EUR currency
The amount of purchase made abroad in 6 instalments EUR 400 (RSD 48,257)*
Instalment amount (RSD 50,000/six instalments)RSD 8,043
NIR annual0%
Instalment payment service fee 5% of the amount of the transaction (RSD 2,413)
Monthly card maintenance feeRSD 250
Total monthly payment for the model without interest calculation (instalment amount + fee broken down in instalments + monthly card maintenance)RSD 8,695
Expenses related to credit card approval, known at the moment of publishing
Bill of exchangeRSD 50
Credit Bureau basic reportRSD 246
EIR annual37,05 %
The total amount paid by the client during the repayment periodRSD 52,466
EIR calculated on 19/06/2019

The calculation of EIR includes: the cost of card maintenance that is paid on a monthly basis, instalment payment service fee, as well as the cost of bill of exchange and Credit Bureau that is paid on a one-time basis upon approval of the card. *When purchasing abroad in EUR currency, the account is debited in RSD at the Bank's cash selling rate. In the representative example, the exchange rate valid on June 19, 2019, the day of the calculation of the example, was applied.

3. For amounts less than 3.000 RSD and cash withdrawals - repayment under revolving model

If you use the card for an amount less than 3.000 RSD, as well as for cash withdrawals at all ATMs in the country and abroad, the instalments will come due with 5% of monthly repayment of the outstanding amount with accrued interest.

Representative example of Masterata card revolving repayment
Card limitRSD 100,000
Monthly repayment percentage5% of debit amount
Minimum amount of instalmentRSD 1,000
NIR annual27%
EIR annual 31.41%
The total amount paid by the client during the repayment periodRSD 171,125
EIR calculated on 19/06/2019

The calculation of EIR includes: NIR, the cost of card maintenance paid 250 RSD on a monthly basis, as well as the cost of bill of exchange (RSD 50) and Credit Bureau (RSD 246) that is paid on a one-time basis upon approval of the Masterata credit card.

Fees for approval and use of Masterata credit card

 

  1. Monthly maintenance of the card with salary transfer: 250 RSD
  2. Credit Bureau report: 246 RSD
  3. Bill of exchange: 50 RSD
  4. Payments made for goods and services abroad: 5% for repayment in equal instalments
  5. Interest on revolving repayment: 2,25% a month
  6. Cash withdrawal in the country and abroad: 3% of the amount of the transaction (min. 300 RSD)
  7. For any Online payment with Masterata credit card, Masterata will function according to the 2nd or 3rd repayment model (depending on the amount you pay). Please find the details of these repayment models below, in this section How does Masterata Work.
  8. Balance inquiry at our ATMs in Serbia is free
  9. If you do not have enough funds in the account to repay the instalment, it will automatically switch to revolving repayment (instalment due date is the 10th of each month).

The Bank reserves the right to determine the final limit of the card, as well as to request additional documentation. The limit is unique for each card and is determined in accordance with the credit ratio of each client.

Payments by Masterata in instalments without interest and fee at all Tempo and Maxi stores

At all stores of Tempo, Maxi, Tempo Express, Mini Maxi and Shop & Go, Maxi Online, you can use a credit card to pay in 2 or 3 equal monthly instalments, without interest and additional costs.  The first instalment is due 30 days from the transaction date, and each of the following instalments will come due 30 days after the previous one.

Repayment models at Tempo and Maxi stores
  • For payments in 2 or 3 instalments without interest and fee on transactions, regardless of the amount of costs for purchased goods – the card owner must note at cash register that he/she wants to break the amount down into 2 or 3 instalments. In the period from 23:45 pm to 00:45 am it is not possible to conduct the transaction in instalments.
  • If the buyer of goods who is the user of Masterata card, does not opt for the number of instalments at POS terminal, or if he/she does not want to pay in 2 or 3 instalments, payments shall be conducted under previously valid model. In this case, the purchase amount will automatically be broken down into a certain number of instalments, up to 6, depending on the amount, plus the fee.

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