If you can afford to pay a fixed monthly amount for your product, this is a great offer to help you save some cash while you’re using finance. It means you won’t have to worry about interest costs getting out of hand for up to 1 year depending on the promotion, so you can focus on paying back the cost of your appliance.
But, before you jump into it, here are a few frequently asked questions to help put your mind at ease.
Representative 19.9% APR (variable). Interest rate: 19.94% per year (variable). Assumed credit limit: £1,200.
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. If you want to choose this 0% interest offer, the total cost of your basket must be at least £200. This can include the cost of more than one product, as well as any services you need.
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:
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.
NewDay’s customer service line is 0333 220 2598 – it’s open 7 days a week from 8am to 9pm. Please remember that calls will be charged at the standard national rate, and the cost may vary for mobile phone companies and operators. Calls may also be recorded or monitored for training and security purposes.