Installment Procedure & FAQ
Asters Installment procedure
- All Maldivian citizens are eligible to participate in the ASTERS installment scheme. All eligible customers can purchase any product available at ASTERS Superstore above MVR 5000 on installment.
- Customers who wish to purchase a product on installment must submit installment application form along with the past 6 months bank statement and ID card copies of both the applicant and the guarantor.
- Once submitted ASTERS installment department will review the application and inform the customer within 3-4 working days if the application is approved.
- The customer will be asked to attend ASTERS office at a fixed time convenient for both parties to sign the installment agreement. Customer must come with the guarantor listed in the application form and also bring the down payment in cash and the remaining sum as postdated cheques.
- Once the agreement is signed and down payment and postdated cheques has been submitted to the installment department, the good requested will be released to the customer along with payment receipt, tax invoice and agreement copy. It is the responsibility of the customer at this stage to check for any damages or defects and will be asked by ASTERS to sign a goods delivery note specifying the condition of the good. If any defect or damages are found at this stage ASTERS will replace the good (subjected to availability). If there is no replacement available ASTERS will terminate the agreement or come to a new agreement with the customer.
- If the customer finds any defects or damages after the stage mentioned above in article 5, ASTERS will not be liable for any damages or defects, unless ASTERS has given their warranty card for this particular product. (Currently only available for TV’s)
What items can be purchased through the installment scheme?
Any product above the price of MVR 5000 or several products with the total value above MVR 5000 available at Asters.pvt.ltd
What are the documents required to submit along with the installment application form?
-ID card copy of both the guarantor and the applicant
- 6 months bank statement of the candidate
How many days does it take to process the application and receive the goods?
3- 4 working days.
Can the guarantor be the applicant’s wife or husband?
Can the guarantor and the emergency contact be the same party?
Different individuals are required to be listed as guarantor and emergency contact.
When do I have to pay the down payment?
Down payment is paid in cash during the signing of the installment agreement.
Am I required to present postdate cheque during the signing of the installment contract?
In addition to the down payment, postdated cheques have to be presented for remaining sum.
Can the cheque be in dollars?
We accept both US dollar and Maldivian Ruffiya cheques.
If the monthly payment is paid in cash, is the postdated cheque of the respective month returned?
Yes, if the customer is able to make the payment in cash before the fixed date, the cheque will be returned to the customer.
When signing the contract does the guarantor need to be present?
Yes, it is a must for the guarantor to be present when the contract is signed