Henry’s Cameras Pay with Grace (0% Interest) FAQ

What is Pay with Grace?
Pay with Grace is a flexible payment plan that offers a 3 or 6-month grace period with 0% interest. This allows customers to pay off their purchases within the grace period without incurring any interest charges.

Why are the installment amounts the same even though it is claimed to be 0% interest?
The installment amounts remain the same to ensure that your payments are evenly distributed across the total payment period. During the 0% interest grace period, you are not being charged any interest. The consistent installment amounts provide a clear and manageable payment structure, making it easier for you to plan your finances. No interest is applied to the payments made within the grace period.

What is the interest rate after the grace period?
After the initial grace period (e.g., 3 months), the interest rate is 3.49% for the remaining payment period.

What is the minimum and maximum purchase amount for Pay with Grace?
For this merchant, the minimum amount to avail 0% Pay with Grace is 5,000 for 3 months and 15,000 for 6 months. This means your purchase amount must be above this minimum to avail grace period.

What happens if my transaction amount is below the minimum purchase amount to avail Pay with Grace?
If the transaction amount does not reach the minimum required amount to avail Pay with Grace, the standard financing plan will be shown at checkout.
How long is the total payment period? The total payment period is 12 months, including the initial 3 or 6-month grace period.

What happens if I pay off the entire amount within the grace period?
If you pay off the entire amount within the 3 or 6-month grace period, you will not be charged any interest.

Can I make partial payments during the grace period?
Yes, you can make scheduled installment payments or pay off the entire balance before the grace period ends, all while enjoying 0% interest.

What if I need more flexibility in payments?
If you need more flexibility, you can follow the regular payment schedule and complete your installments over the 12-month period.

Can I pay off the entire amount after the grace period?
Once the grace period ends, you must follow the scheduled installment payments until the end of the 12-month period. You can also choose to pay all your installments with an interest rate.

Is there a penalty for early payment?
No, there is no penalty for early payment. You can complete your entire installment within the grace period without any additional fees.

Can I change the payment plan after selecting Pay with Grace?
Once you have selected the Pay with Grace plan, you cannot change the payment terms. However, you can choose to pay off the entire balance early within the grace
period without incurring any interest.

What happens if I miss a payment during the grace period?
If you miss a payment, the grace period will end and you will need to pay accordingto the original schedule including penalty fee incurred for late payment.

How will I be notified of my payment schedule?
You will receive a detailed payment schedule via email and you can always check your payment schedule and balance through our mobile app (Installments > Active).

How do I know if my purchase qualifies for Pay with Grace?
You will see the Pay with Grace option at checkout if your purchase meets the minimum. For this merchant, to avail 3 months grace, your minimum purchase
should be PHP 5,000 and to avail 6 months minimum purchase should be PHP 15,000.

What should I do if I have questions about my installment plan?
For any questions or concerns about your installment plan, you can contact our customer support team via chatbot. They will be happy to assist you with any
inquiries regarding your payment schedule or remaining balance.