TLDR: ~$0.60 for 20,000 QFF Points
UPDATE: It seems the interest rate offer is different for different people. The only change this will have is the month ‘0’ interest repayment will be slightly higher, and the succeeding months repayments will be slightly higher.
First glance seems like a terrible deal but read below, reviewed the T&C’s thoroughly and confirmed with Qantas Money operator.
“Earn 10,000 Qantas Points when you set up a Statement Instalment Plan of $2,500 or more and make your first three consecutive payments on time. Offer is limited to one Statement Instalment Plan set up per month until 31 March 2025. Additional criteria applies, see terms and conditions.”
T&C’s state “You can also make additional repayments, or choose to pay off the instalment plan at any time, at no extra charge.”, I have just set up an instalment plan yesterday for the minimum required amount of $2500. For month ‘0’ there is an interest only repayment of $16.01 (reduced to $0.06 when the instalment plan balance is $10) for $2500 over a 12 month plan, which is the lowest for each instalment period. You are able to make additional instalment plan repayments as soon as the plan is set up, with no limit on how much the additional repayment is.
Any questions I’ll try to answer, have spent almost an hour in total talking to operators to confirm all information, so can likely help you out!
Within month ‘0’ transfer an amount you seem appropriate to lower the repayments for the following repayment periods. Confirmed with operator that succeeding months instalments will be reduced automatically based on Instalment Plan balance. I have transferred $2490 as an additional repayment to lower balance, which results in an interest repayment of approx. $0.89 over remaining 12 months.
After the third month instalment plan payment has been made, repay the remaining balance.
Thus approx. $0.30 for 10,000 QFF points. This can be repeated in the month of March in the same manner. Total of 20,000 QFF for $0.60.
Extra repayments can be done via the same payment method used for paying your statement balance, existing statement balance takes priority, however if you only wish to pay the instalment plan balance, make the payment, and call Qantas Money to change the full amount to the instalment plan.
Have a + for doing the math