How to Convert Credit Card Payments into Installments?

Modified on Thu, 25 Jun at 1:45 PM

TimelyBills supports converting credit card payments into installments thereby automatically updating the account balance

Steps to convert a credit card payment into installments:

1. Launch the TimelyBills app on your device

2. Tap on the plus icon (+) button on the Home screen and select Add Expense

3. While adding an account, select Credit Card Account

4. Observe Convert into Installment appears below the Amount

5. Tap on Convert into Installment

6. Fill up details like No of Installments & the Monthly Installment Amount

7. Confirm the auto-calculated interest amount below the monthly installment amount

8. Tap Done ONLY after confirming the Monthly Installment and Interest Amount

9. The Installment Amount will be shown below the amount figure

10. Tap the Checkmark (✓) Icon on the top-right corner to save the transaction

11. A Verification pop-up will appear where you have to tap on Confirm regarding Interest and Monthly Payment Amount

12. You will be redirected to the Transaction screen, where you can view your recently created installments.

The monthly installment amount is editable. The interest amount is automatically generated based on the monthly installment and the transaction's amount.
After confirming the No of Installments and the monthly installment amount, editing is not possible, so we recommend ensuring that all details added are correct.

If you encounter any problem or have a query, please contact support at support@timelybills.app