Sorry for the delay in replying.
OK. Here goes.
I have spoken (on the telephone) to
three -- YES, 3 different offices @ 1800 438 3333 with regard to my original query.
Their replies are all consistent -- but, of course -- like in any help desk, they have a standard procedure book
(a) Say I am interested in acquiring an LG 42" LCD Full HD TV.
Original retail price $5,999
OCBC EasiCredit price: $359 x 11 plus $350 x 1
= $4,299
* for the sake of this e.g/argument., let's assume that $4,299 is indeed a very attractive price
(b) OCBC will deduct the instalment amount on a said (fixed) day of the month. As long as I
stay "positive (balance, ie, above $359) before that said date for the month, I do not
incur any interest, hidden charges, admin fees, whatever, etc
I have been having this facility for more than 10-yrs (originally called the Keppel Prestige Credit)... just applied then for emergency purposes (why not) and just maintain the account with a positive balance of 10-cents.
Guess it's about time I activate it!