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[SPayLater] What is Early Payment Profit Waiver?
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Eligible users can now enjoy a Profit Waiver by paying their SPayLater bills earlier. This feature is currently available to selected users only and will be progressively made available to more users soon.
1. What is a profit waiver for early bill payment?
Profit Waiver is a feature that allows you to enjoy a waiver of the remaining profit charges on your SPayLater instalment plan when you make a full early payment of your entire outstanding SPayLater bill (including all upcoming instalments) in one payment.
The profit waiver is calculated based on profit charges on the outstanding principal balance after deducting any previous instalment payments made towards your transaction, purchase, or order. The remaining profit charges and outstanding balance are calculated using the reducing balance method, based on the Effective Profit Rate (EPR).
For more information on the Profit Rate, please refer to the details provided here.
2. Which SPayLater instalments are eligible?
Orders, transactions, or purchases confirmed on or after 22 October 2026, and that fulfil all of the conditions below. Orders confirmed before this date are charged profit in full, even if you pay early.
3. What do I need to do to get the waiver?
You need to meet three conditions:
Pay all remaining instalments of the order/purchase/transaction in one payment. Paying only some of the remaining instalments early does not qualify.
Have no overdue bills. If you have any, pay them first.
Make the payment before or on your nearest bill due date. The Profit Waiver applies to instalments due after your nearest due date. The instalments due on your nearest due date, as well as instalments from previously settled bills, are not eligible for a Profit Waiver. Refer to Example 1 Scenario 3 below for more details.
4. How much profit will be waived?
Profit is waived on all remaining instalments after your nearest due date, which is charged as usual.
The exception is paying on the same day your order is confirmed. In that case, profit is waived on every instalment. Refer to Example 1 Scenario 1 below for more details.
5. How does the Profit Waiver work?
Example 1 - One Transaction/Purchase/Order In A Bill
On 5th January 2027, you use SPayLater for a transaction/purchase/order of a product/service for RM137.65 and choose a 6-month tenure.
Principal amount (Price of Product/Service): RM137.65
Instalment plan: 6 months
Nominal Profit Rate: 1.5% per month
Effective Profit Rate: 30.23% per annum
Total Profit Amount: (RM137.65 × 1.5%) x 6 months = RM12.35
Total Amount Payable: RM137.65 + RM12.35 = RM150
Monthly Instalment Amount: RM150 ÷ 6 = RM25
Assuming your Billing Date is the 21st of every month, and your Due Date is the 1st of the next month (To understand your billing and due dates, refer to this article here)
The profit amount and outstanding balance for each instalment are calculated as below:
Bill Due Date | Transaction, Purchase or Order 1 (RM150) | Bill Amount (RM) | ||||
Instalment | Monthly Instalment Amount (RM) | Monthly Principal (RM) | Monthly Profit Amount (RM) | Remaining Total Principal (RM) | ||
1 Feb 2027 | 1 | 25.00 | 21.54 | 3.46 | 137.65 | 25.00 |
1 Mar 2027 | 2 | 25.00 | 22.08 | 2.92 | 116.11 | 25.00 |
1 Apr 2027 | 3 | 25.00 | 22.64 | 2.36 | 94.03 | 25.00 |
1 May 2027 | 4 | 25.00 | 23.21 | 1.79 | 71.39 | 25.00 |
1 Jun 2027 | 5 | 25.00 | 23.79 | 1.21 | 48.18 | 25.00 |
1 Jul 2027 | 6 | 25.00 | 24.39 | 0.61 | 24.39 | 25.00 |
Total | 150.00 | 137.65 | 12.35 | 0.00 | ||
Depending on the timing of your bill payment, the Profit Waiver are calculated as below:
Scenario | Bill Payment Date | Bill Paid | Transaction/ Purchase/ Order Eligible for Profit Waiver? | Total Profit Waiver (RM) | Total Amount Payable (RM) |
|---|---|---|---|---|---|
[1] Full settlement on the transaction, purchase, or order confirmation date | 5 Jan 2027 (Order Confirmation Date) | All 6 bills (Feb – Jul 2027) | Yes. All 6 instalments are eligible for a full Profit Waiver. | RM12.35 | RM137.65 (Principal only) |
[2] Partial settlement on the confirmation date | 5 Jan 2027 (Order Confirmation Date) | 5 out of 6 bills (Feb – Jun 2027) | No. Partial settlement does not qualify for a Profit Waiver. | RM0.00 | RM125.00 (5 × RM25.00) |
[3] Full early settlement after paying the first 2 instalments | 28 Mar 2027 (After settling the February and March 2027 bills) | All 4 remaining bills (April–July 2027) | Yes, partially. Only instalments due from 1 May to 1 July 2027 are eligible. The instalment due on 1 April 2027 is not eligible as it falls within the current billing cycle. | RM3.61 (RM1.79 + RM1.21 + RM0.61) | RM96.39 (RM100.00 − RM3.61) |
[4] Partial early settlement after paying the first 2 instalments | 28 March 2027 (After settling the February and March 2027 bills) | 3 out of 4 remaining bills (April–June 2027) | No. All remaining instalments must be fully settled to qualify for a Profit Waiver. | RM0.00 | RM75.00 (3 × RM25.00) |
Example 2 - Multiple Transaction/Purchase/Order In A Bill
On 5th January 2027, you also use SPayLater for another transaction/purchase/order of a product/service for RM236 and choose a 12-month tenure.
Principal amount (Price of Product/Service): RM236
Instalment plan: 12 months
Nominal Profit Rate: 1.5% per month
Effective Profit Rate: 31.72% per annum
Total Profit Amount: (RM236 × 1.5%) x 12 months = RM42.40
Total Amount Payable: RM236 + RM42.40 = RM278.40
Monthly Instalment Amount: RM278.40 ÷ 12 = RM23.20
The profit charges and outstanding balance for each instalment, as well as the total bill, are calculated as below:
Depending on the timing of your bill payment, the Profit Waiver are calculated as below:
Scenario | Bill Payment Date | Bill Paid | Transaction/ Purchase/ Order Eligible for Profit Waiver? | Total Profit Waiver (RM) | Total Amount Payable (RM) |
[1] Early payment of 6 bills on the order confirmation date | 5 Jan 2027 (Order Confirmation Date) | 6 bills (Feb–Jul 2027), covering both Order 1 and Order 2. | Yes, Order 1 only. All 6 instalments of Order 1 are fully settled. Order 2 is not eligible because only 6 out of 12 instalments are paid. | RM12.35 (Order 1 only) | RM261.55 (RM273.90 − RM12.35) |
[2] Early payment of all 12 bills on the order confirmation date | 5 Jan 2027 (Order Confirmation Date) | 12 bills (Feb 2027 – Jan 2028), covering all remaining instalments of both orders. | Yes, both orders. All remaining instalments of both orders are fully settled. | RM54.75
(RM12.35 + RM42.40) | RM373.65
(RM428.40 − RM54.75) |
[3] Early payment of 5 bills on the order confirmation date | 5 Jan 2027 (Order Confirmation Date) | 5 bills (Feb – Jun 2027), covering both orders. | No. Neither order is fully settled. Order 1 has 1 remaining instalment, while Order 2 has 7 remaining instalments. | RM0.00 | RM241.00 (5 × RM48.20) |
[4] Early payment of 4 bills after paying the first 2 bills | 28 Mar 2027, after settling the February and March 2027 bills. | 4 bills (Apr–Jul 2027), covering both orders. | Yes, Order 1 only. All remaining instalments of Order 1 are settled, but only instalments due from May to July 2027 qualify. Order 2 is not eligible because it is only partially settled. | RM3.61 (RM1.79 + RM1.21 + RM0.61) | RM189.19 (RM192.80 − RM3.61) |
[5] Early payment of all 10 remaining bills after paying the first 2 bills | 28 Mar 2027, after settling the February and March 2027 bills. | 10 bills (Apr 2027–Jan 2028), covering all remaining instalments of both orders. | Yes, both orders. All remaining instalments are settled. Only instalments due from May 2027 onwards qualify for a Profit Waiver. | RM28.68 (Order 1: RM3.61 + Order 2: RM25.07) | RM303.32 (RM332.00 − RM28.68) |
[6] Early payment of 3 bills after paying the first 2 bills | 28 Mar 2027, after settling the February and March 2027 bills. | 3 bills (Apr–Jun 2027), covering both orders. | No. Neither order is fully settled. Both orders still have outstanding instalments. | RM0.00 | RM144.60 (3 × RM48.20) |
6. Where can I see my profit waiver?
Before you pay: On the Amount to Pay page, under Profit Waiver.
After you pay: On the Bill Details page under Waiver Amount (shown as Early Payment Profit Waiver), and on the Instalment Details page for each instalment.
