Interest Free Explained Interest Free Explained
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Interest Free Payments explained

You've made a fantastic choice buying your new mobile device on Interest Free with Vodafone. This page summarises the essential info, including what is Interest Free, how to pay, how discounts work (if applicable) and how many other Interest Free connections you can add to your account.
Low upfront cost
Low upfront cost
No establishment or annual fees
No establishment or annual fees
One monthly bill
One monthly bill

From 26 November 2020, any Interest Free discount you may receive when you sign up to an Interest Free payment, will be spread over your 12, 24, or 36 month Interest Free term. See below at 4. for more information on how the discount is now applied.

1. What are Interest Free Payments?

With Vodafone’s Interest Free payment options, you can spread the cost of your new mobile phone or tablet in monthly instalments, over a 12, 24 or 36 month term. And it’s available on all new mobile devices valued from $149 and above, with just a $99 upfront deposit. There are no further establishment or annual fees as long as you continue to pay your bill on time.

2. How do I pay for my new phone on Interest Free?

The Interest Free Payment amount is added to your monthly bill, which is emailed to you every month. You can also view your bill from the My Vodafone app.

The easiest way to pay your bill is by setting up a direct debit with a debit/credit card in the My Vodafone app. This can be found under the Essentials section in the app.

It should take around a minute to setup, and then going forward your bill will be charged automatically every month to your nominated card. Setting up a direct debit from a credit/debit card also means you won’t have to pay the 2% convenience charge that applies to one-off card payments. Go you!

3. How can I keep track of my Interest Free Payments?

Your monthly Vodafone bill includes the essential information to keep track of your Interest Free Payment, which can be found under the ‘Current charges summary’ section of the bill. This includes:

a. What you need to pay every month for your Interest Free Payment (less any Interest Free discount if applicable).
b. How many payments are required to pay off the device on your Interest Free term.
c. How much is remaining to be paid on the device over your Interest Free term (excluding any Interest Free discounts that may be applied).
d. Any Interest Free discount credit you are receiving per month, if applicable. GST portion of the credit at 15% is included in the GST component of your bill (see 4 below).

4. How do the Interest Free discounts work?

If applicable, the Interest Free discount you receive will show on your bill as a monthly credit for the duration of the agreed Interest Free Payment term that you signed up to.

The credit is listed as ‘Interest Free discount’ on your bill and this figure excludes GST of 15%.

The GST component of the discount is incorporated into the GST row on your bill. For example, an Interest Free discount of $5 per month will appear as a credit of $4.25 under ‘Interest Free Discount’; and the GST of 75 cents is added to the GST column under ‘GST @ Standard Rate’.

There are a number of potential scenarios which may cause you to stop receiving your monthly Interest Free discount including (but not limited to):

  • Changing to an ineligible plan (e.g. Vodafone Prepay), or change of account holder
  • Cancel/terminating your plan or leaving Vodafone before the Interest Free term has been completed
  • Disconnection of your account for any reason (e.g. breach of Fair Use)

The discount will only apply if you remain on your plan for the whole billing month. If you make any of the changes listed above during your billing month, the Interest Free discount will not apply for that particular month, and will not be applied to your next bill.

If this occurs, you will need to pay back the remaining balance of the device without any Interest Free discount. In other words, you are entitled to receive the full Interest Free discount if you remain for the entire Interest Free term you signed up to (12, 24, or 36 months). If you exit your term early, you are not entitled to receive any remaining Interest Free discount you would have otherwise received, from that point onwards.

5. Do you have any other fees?

After paying the upfront $99 deposit there are no more additional administration/annual fees, as long you continue to make your monthly payments on time. Standard late account payment fees would still apply if you miss a monthly payment. For more information on our late payment fee policy click here.

6. Can I add more than one IFP per account?

It is possible to add an additional Interest Free Payment on your billing account.

Each new Interest Free Payment must be tied to a separate active mobile and/or tablet plan.

For example, if you have two Interest Free Payments, they must be tied to two active eligible mobile/tablet plans.

Before adding another Interest Free Payment to your account you must first pass a credit check. You can contact our staff in store, or chat online to find out more.

7. What happens if I cancel my mobile/tablet plan or want to end my Interest Free Payment early?

In both scenarios, you’ll need to pay back the remaining balance of your device. As mentioned above, the amount required to be paid back would exclude any Interest Free discount that you would have otherwise been entitled to, if you had of remained for the full Interest Free term.

If you leave Vodafone or move to Vodafone Prepay, you will also have to pay any other remaining charges owing on your account.

8. Is there anything else I need to know?

Our full Interest Free Payment terms and conditions can found here:

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