AO Finance – 0% Interest

0% interest is essentially the instalment plan with an offer added on top. This means you’ll spread the cost of your appliance by paying a fixed monthly amount. By paying the agreed amount every month, you won’t have to pay any interest costs and your balance will be paid off by the end of the 0% period.

This offer won’t be available to everyone. The plans that you’re offered depend on the result of your credit check and on NewDay’s assessment of your details. It’s also worth noting that this offer is only available as part of a promotion, so it won’t be available all year round.

Yes, we can only offer the 0% interest offer on products costing £200 or more.

With this offer, you’ll be paying a set amount each month that’s been agreed by NewDay, which will clear your balance by the end of the 0% period. If you’ve bought another product separately using the flexible credit payment plan, the minimum total you’ll have to pay for this product will be added to the set payment amount for your 0% plan.

To start paying off your balance, simply visit your NewDay Online Account Manager or call NewDay on 0333 220 2598. Then, you can either make standalone payments each month, or you can set up a direct debit.

The only other payment that could be applied to your account is a late payment fee. But, if there are any other costs, you can find more information about them in your Credit Agreement.

If you can no longer afford to make the contractual monthly payments, your 0% interest offer will be cancelled and you’ll be moved to a flexible credit account. This means that you’ll start being charged the standard interest rate, and you’ll need to start paying the monthly minimum amount. This will either be £5 (or the full amount you owe, if you owe less than £5), or 1% of the full amount you owe, including interest and fees – whichever is higher. Then, you can just make extra payments towards your balance when you can afford it, to pay the total faster.

Your first payment will be due one month after you buy from AO. You’ll get an email from NewDay when your eStatement’s ready, and you can make a payment or set up a direct debit on your NewDay Online Account Manager or by calling NewDay on 0333 220 2598.

To keep your 0% interest offer, you must keep your AO Finance plan up to date. You can do this by making your monthly payments on time and by staying within your credit limit.

If you have a direct debit, your monthly instalment payment will be taken each month. But, please note that:

• If you have set up a full balance direct debit, your next direct debit payment will clear your statement balance, including the whole instalment plan balance. If you want to make the most of the monthly instalment payments, you’ll need to amend your direct debit.
• If you have a fixed amount direct debit and the amount isn’t enough to cover the monthly instalment payment, NewDay will increase your direct debit that month to make sure they collect at least your contractual monthly payment and your monthly instalment payment.
• If you’ve set up another type of direct debit, the amount NewDay takes will include your monthly instalment payment.

To make any changes to your direct debit, please log into your NewDay Online Account Manager, or call NewDay’s customer service line on 0333 220 2598.