Hooray, Malaysian private vehicle owners! You can now renew auto insurance on Bjak with Grab PayLater and SPayLater by Shopee.
We’ve added two more options to our Buy Now Pay Later (BNPL) list launched in 2021 with Atome. With more instalment payment methods, the insurance renewal process is much easier, more flexible and safer.
Two new payment methods
As you may already know, Bjak has had BNPL with Atome for the past few years. This method allows customers to make payments in 3 instalments without worrying about any interest charges.
Now, adding two new payment methods gives more liberty to how you can pay for your car insurance. These methods have longer instalment periods that can certainly be of benefit to users.
Grab PayLater on Bjak
PayLater by Grab is a post-payment service that allows users to perform financial transactions at a later period, as the name suggests.
The idea is to allow people to have financial freedom when making purchases. They can decide to make the payment in full the next month or in 4 monthly instalments with no extra charges, as shown below:
Benefits of using Grab
- Four monthly instalments
- No interest
- No additional charges for on-time payment
- Simple, safe & secure
*Note: There’s a flat RM10 admin fee if you missed a scheduled payment and for the reactivation of your suspended PayLater account.
Who is eligible for PayLater by Grab?
People who are eligible for PayLater should be:
- An existing Grab user for at least six months
- Aged 21 years or above
- The Grab account has been fully verified
- Platinum, Gold, or Silver GrabRewards tier member
- The Grab app has been updated to the latest version
SPayLater on Bjak
SPayLater is a payment method that provides users with flexibility via a seamless digital experience. It allows users to purchase something with the choice of paying for their purchases later.
Users can choose from payment schemes ranging from one month up to a maximum of twelve months. SPayLater by Shopee comes with a 1.5% processing fee on the total payment or order amount. You can refer to the table below for all the available payment plans.
Benefits of SPayLater
- Flexible payments
- Up to 12-month instalment
- Low processing fees
*Note: Shopee charges a late fee of RM10 for users who fail to complete a scheduled payment. Their account will be temporarily frozen until the payment is cleared.
How to use SPayLater?
1. Activate SPayLater
Open your Shopee App > Activate SPayLater by going to the Me tab > Click Activate Now > Fill in the One-Time Password sent to your registered mobile number > Click Continue > Fill in your MyKad details and other required information > Start Facial Verification > Start PayLater.
2. Pay with SPayLater
Select SPayLater during your checkout:
Go to Payment Option > Select SPayLater > Click Pay Now > Redirect to Shopee App > Fill in your ShopeePay PIN> Click Continue.
Buy Now Pay Later services
Renewing your car insurance and road tax annually can be a hassle, especially when running short of cash. But Bjak’s BNPL creates a golden opportunity for vehicle owners to manage their financials better.
There are so many benefits to using the BNPL option to renew your motor insurance. You can learn more about the benefits of using Bjak’s BNPL by clicking the link below. Alternatively, you can also get your free quote from us to compare prices.
Bjak is one of Malaysia’s biggest insurance comparison websites, offering policies from over 10 brands. Get your free insurance quote from Bjak today!