Masterata – instalments without interest | OTP banka Srbija
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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 on the last day of the month in which the transaction was executed and each subsequent maturity on the last day of the following month.

  • 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 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-bank.

  • 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-bank and M-bank allow you to repay early all your dues.

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If you still do not have a Mastarata credit card, fill out the application form and we will provide you with all the necessary information on how to get it.

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 instalments50.000 RSD
Instalment amount (RSD 50,000/24 instalments)2.083 RSD
NIR annual0%
Instalment payment service fee0%
Monthly card maintenance fee250 RSD
Total monthly payment for the model without interest calculation (instalment amount + monthly card maintenance)2.333,33 RSD
Expenses related to credit card approval, known at the moment of publishing
Bill of exchange50 RSD
Credit Bureau basic report246 RSD
The total amount paid by the client during the repayment period (purchase amount + monthly card maintenance fee + bill of exchange + Credit Bureau basic report)56.296 RSD
Representative example calculated on20.10.2021
2. Interest-free instalments in the country and abroad for payments exceeding 1.000 RSD

If you use the card at POS terminals or ATMs abroad or in the country at the retailers’ we have not concluded cooperation agreement with, the spent amount exceeding 1.000 RSD can be paid in 3, 6  or 12 equal monthly instalments, in accordance with a defined scale given below. According to this model, one-time fee is charged 4% of the amount spent for transactions divided into 2 to 6 installments or  of 5% of the amount spent  for transactions divided to 12 installment which will also be broken down into instalments.[2]

[2]

Number of instalments against the amount

  • 3 installments – transaction in the amount of 1,000 to 8,999 dinars
  • 6 installments – transaction in the amount of 9,000 to 29,999 dinars
  • 12 installments – transaction in the amount of 30,000 to 600,000 dinars (5,000 EUR in dinar equivalent)

 

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 instalments from domestic non-partnersRSD 50,000 (on 3 installments)RSD 50,000 (on 6 installments)RSD 50,000 (on 12 installments)
Instalment amount16.666,67 RSD8333.334.167 RSD
NIR annual0%0%0%
Instalment payment service fee4% from transanction amount (2.000 RSD)4 % from transaction amount (2.000 RSD)5% from transaction amount (2.500 RSD)
Monthly card maintenance fee250 RSD250 RSD250 RSD
Total monthly payment for the model without interest calculation (instalment amount + fee broken down in instalments + monthly card maintenance)17.583,33 RSD8.916,66 RSD4.625,33 RSD
Expenses related to credit card approval, known at the moment of publishing
Bill of exchange50 RSD50 RSD50 RSD
Credit Bureau basic report246 RSD246 RSD246 RSD
The total amount paid by the client during the repayment period53.045,99 RSD53.795,96 RSD55.799,96 RSD
Representative example calculated on20.10.2021
3. For amounts less than 1.000 RSD - repayment under revolving model

If you use the card for the amount of less than 1,000 dinars the installments will be collected with a percentage of repayment of 5% of the monthly debt with accrued interest.

Representative example of Masterata card revolving repayment
Card limit100.000 RSD
Monthly repayment percentage5% of debit amount
NIR annual27%
EIR annual 34.66%
Interest12.906.91 RSD
Total amount of fees3,296 RSD
The total amount paid by the client during the repayment period116.202,91 RSD
EIR calculated on20.10.2021.

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. 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 15th 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 the last day of the month when the transaction was made, and each of the following instalments will  due the last day of the next month.

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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    Lost or stolen card?

    In case of card loss or theft, notify Contact Center of OTP bank in the shortest time possible by dialling the following phone number:  +38111 30 11 555

    Give us a call and your card will be blocked that very moment.

    Do you have any questions?

    Write to us via our online contact form and we will contact you.

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