An instalment plan lets you repay a set amount in fixed monthly payments over a period of between 3 and 48 months. It’s a good option if you want more certainty about what you’ll pay each month. The minimum amount for a plan is £50, and we don’t charge a fee for setting one up — interest is charged at the same rate as your main account balance. You can have more than one instalment plan running at the same time, and they’re all managed through the Cred app.