<h1>Offer Customers a Savings Plan to Buy Your Products</h1>
<p><strong>Savings Plan for WooCommerce</strong> helps users save for products you sell. When the buyer saves the total purchase price, it alerts them.</p>
<h2>Types of Savings Plans</h2>
<p><strong>Fixed Installment</strong></p>
<p>The user saves a fixed amount for a specified period.</p>
<p><strong>Fixed Duration</strong></p>
<p>The user saves for a product within a defined period. The user can save any amount, any number of times.</p>
<p><strong>Indefinite Duration</strong></p>
<p>In this Savings Plan type, there is no time limit. The user saves any amount any number of times.</p>
<h2>Benefits</h2>
<p><strong>Convert potential prospects to customers</strong></p>
<p>Offering a convenient way to save for future purchases within your site can help to convert potential prospects to customers.</p>
<p><strong>Gain insights into future sales</strong></p>
<p>Customers saving for purchases reveal future purchase intent. Track savings for products to predict purchase trends.</p>
<p><strong>Attract new customers</strong></p>
<p>Customers who benefit from savings plans may refer new users to your site.</p>
<h2>How does it work?</h2>
<p><strong>Fixed Installments Savings Plan</strong></p>
<ul>
<li>A user lands on a single-product page.</li>
<li>If the user wants to purchase the product, they click the Add-to-Cart button.</li>
<li>If the user wants to save for the product, they have to select the Save-for-this-Product checkbox.</li>
<li>Once enabled, the available savings plans display in a dropdown menu.</li>
<li>Once a savings plan is selected, the following details will be displayed:
<ul>
<li>Number of installments</li>
<li>Installment amount and installment frequency</li>
<li>Plan the start date and end date</li>
</ul>
</li>
<li>When the user selects the Pay-First-Installment button, the product will add to the cart. Once payment is complete, the savings plan opens.</li>
<li>Your users can access their savings plan from their My Account Page > My Savings Plan.</li>
<li>The user will manually pay the remaining installments. You can optionally enable Automatic Payments when your users pay using WooCommerce Stripe Payment Gateway.</li>
</ul>
<figure style="width: 1080px" class="wp-caption alignnone"><img src="https://woocommerce.com/wp-content/uploads/2021/04/single-product-page-fixed-installment.png" alt="" width="1080" height="608" /><figcaption class="wp-caption-text"><strong>Fixed Installment Dates without Deposit<br /></strong></figcaption></figure>
<figure style="width: 1080px" class="wp-caption alignnone"><img src="https://woocommerce.com/wp-content/uploads/2021/04/single-product-page-fixed-duration.png" alt="" width="1080" height="608" /><figcaption class="wp-caption-text"><strong>Fixed Installment Dates with a Deposit</strong></figcaption></figure>
<p><strong>Fixed Duration Savings Plan</strong></p>
<ul>
<li>A user lands on a single product page.</li>
<li>If the user wants to purchase the product, they click the Add-to-Cart button.</li>
<li>If the user wants to save for the product, they enable the Save-for-this-Product checkbox.</li>
<li>Once enabled, the available Savings Plans will display in a dropdown menu.</li>
<li>Once a Savings Plan is selected, the following details will display.
<ul>
<li>Plan start date and end date</li>
<li>A field to input the savings amount</li>
</ul>
</li>
<li>When the user selects the Pay-First-Installment button after inputting the savings amount, the product will add to the cart. The savings plan opens when the payment is complete.</li>
<li>Your users can access their savings plan from their My Account Page > My Savings Plan.The user will manually pay the remaining installments.</li>
<li>The Fixed Duration Savings Plan requires that the user saves for their chosen product within a defined time period. The user can save any amount, any number of times. You can optionally restrict the minimum or maximum amount of the savings plan.</li>
</ul>
<figure style="width: 1080px" class="wp-caption alignnone"><img src="https://woocommerce.com/wp-content/uploads/2021/04/single-product-page-indefinite-duration.png" alt="" width="1080" height="608" /><figcaption class="wp-caption-text"><strong>Fixed Duration with a Deposit and Indefinite Payments</strong></figcaption></figure>
<p><strong>Indefinite Duration Savings Plan</strong></p>
<ul>
<li>A user lands on a single product page.</li>
<li>If the user wants to purchase the product, they click the Add-to-Cart button.</li>
<li>If the user wants to save for the product, they enable the Save-for-this-Product checkbox.</li>
<li>Once enabled, the available savings plans will display in a dropdown menu.</li>
<li>Once a savings plan is selected, the following details will display:
<ul>
<li>Plan start date</li>
<li>A field to input the savings amount</li>
</ul>
</li>
<li>When the user selects the Pay-First-Installment button after inputting the savings amount, the product will add to the cart. The savings plan opens when the payment is complete.</li>
<li>Your users can access their savings plan from their <strong>My Account Page > My Savings Plan</strong>.The user will manually pay the remaining installments.</li>
<li>In the Indefinite Duration Savings Plan type, there is no time limit. The user can save any amount, any number of times. You can optionally place a restriction on the minimum or maximum amount saved.</li>
</ul>
<p><strong>Product Fulfillment Process</strong></p>
<ul>
<li>Once all installments are paid, the user is notified by email. The emails contain links directing users to checkout pages.</li>
<li>On the checkout page, the user can review their shipping address and make changes if needed. Users can agree to pay shipping costs, if applicable, and place their orders.</li>
<li>Savings Plan for WooCommerce helps users to save for products sold in your shop and purchase them once they save the total price.</li>
</ul>
<figure style="width: 1080px" class="wp-caption alignnone"><img src="https://woocommerce.com/wp-content/uploads/2021/04/savings-plan-email.png" alt="" width="1080" height="608" /><figcaption class="wp-caption-text"><strong>Savings Plan Completed Email</strong></figcaption></figure>
<figure style="width: 1080px" class="wp-caption alignnone"><img src="https://woocommerce.com/wp-content/uploads/2021/04/savings-plan-product-fulfillment.png" alt="" width="1080" height="608" /><figcaption class="wp-caption-text"><strong>Product Checkout After Saving the Money<br /></strong></figcaption></figure>
<h2><strong>Requirements</strong></h2>
<p>Minimum PHP version: 5.6</p>

Savings Plan

<p>Savings Plan for WooCommerce helps users to save for products sold on your shop and receive them once the amount has been saved.</p>

<ul class="wccom-tick-list-primary">
<li><strong>Offer payment options</strong></li>
<li><strong>Define and customize payment plans</strong></li>
<li><strong>Increase customer satisfaction</strong></li>
<li><strong>Reduce cart abandonment</strong></li>
</ul>
<hr class="wccom-product-heading__hr" />
<p><strong>Payment Plan Suite</strong> allows you to sell more products by offering different payment plans.</p>
<h2>Benefits</h2>
<p><strong>Reduces cart abandonment</strong><br />
Customers often abandon their purchases because of budget constraints. Offer them easy ways to purchase expensive products and reduce the chances of cart abandonment.</p>
<p><strong>Attract new users</strong><br />
Existing users who benefit from purchasing products through payment plans are sure to refer new users to your site.</p>
<h2>Features</h2>
<h3><strong>Product-level deposit plans</strong></h3>
<p>If you sell made-to-order products in your Woo store, you can charge a deposit when customers place their orders, and they can pay the balance later.</p>
<figure id="attachment_18734003046270" aria-describedby="caption-attachment-18734003046270" style="width: 1123px" class="wp-caption alignnone"><img class="wp-image-18734003046270 size-full" src="https://woocommerce.com/wp-content/uploads/2023/10/Deposite-Plan-Suite-product.png" alt="" width="1123" height="666" /><figcaption id="caption-attachment-18734003046270" class="wp-caption-text"><strong>Deposit Details Displayed on Product Page</strong></figcaption></figure>
<h3><strong>Product-level payment plans</strong></h3>
<p>Users can pay for expensive products in multiple small installments of the product’s total price.</p>
<figure id="attachment_18734003046271" aria-describedby="caption-attachment-18734003046271" style="width: 1132px" class="wp-caption alignnone"><img class="wp-image-18734003046271 size-full" src="https://woocommerce.com/wp-content/uploads/2023/10/Product-Level-Payment-Plan-Suite.png" alt="" width="1132" height="800" /><figcaption id="caption-attachment-18734003046271" class="wp-caption-text"><strong>Payment Plan Details Displayed on Product Page</strong></figcaption></figure>
<h3><strong>Cart-level payment plans</strong></h3>
<p>Users can pay for their orders by converting cart subtotals into smaller installments.</p>
<figure id="attachment_18734003046269" aria-describedby="caption-attachment-18734003046269" style="width: 1156px" class="wp-caption alignnone"><img class="wp-image-18734003046269 size-full" src="https://woocommerce.com/wp-content/uploads/2023/10/Cart-Payment-Plan-Suite.png" alt="" width="1156" height="1296" /><figcaption id="caption-attachment-18734003046269" class="wp-caption-text"><strong>Payment Plan Selection on Cart Page</strong></figcaption></figure>
<h3><strong>Automatic payment support with Stripe</strong></h3>
<p>You can charge your users automatically for their installment payments using the Stripe payment gateway.</p>
<h3><strong>Specific due dates for payment plans</strong></h3>
<p>You can create payment plans with payment dates you define.</p>
<h3><strong>Collect all installment payments on the same day</strong></h3>
<p><strong>Payment Plan Suite</strong> includes an option for site admins to assign the same pay date for all installment payments. For example, all your customers can pay their installments on the first of each month.</p>
<h3><strong>Mixed payment options at checkout</strong></h3>
<p>Site admins can allow users to purchase products with alternate payment and immediate payment plans in a single transaction.</p>
<h3><strong>Customizable initial payment charging time</strong></h3>
<p>Site admins can decide when users must make initial payments.</p>
<h3><strong>Reminder emails</strong></h3>
<p>Site admins can send payment-reminder emails to users.</p>
<h3><strong>Customizable due dates and due amounts</strong></h3>
<p>Site admins can modify the due dates and amounts of upcoming payments.</p>
<h3><strong>Coupon support</strong></h3>
<p><strong>Payment Plan Suite</strong> includes an option for shoppers to use coupons with their payment plan purchases.</p>
<h3><strong>Additional customization options</strong></h3>
<ul>
<li>Select Box and Radio button field types.</li>
<li>Multiple positions to display payment plan options on your store’s frontend.</li>
<li><strong>Payment Plan Suite</strong> can calculate payment plans (based on percentages) from regular prices or sale prices.</li>
<li>For downloadable products, site admins can give file access during the initial order or upon final payment.</li>
<li>Site admins can reduce stock during the initial order or upon final payment.</li>
</ul>

Payment Plan Suite

<p>Offer customizable payment plans and reduce cart abandonment.</p>

Savings Plan vs Payment Plan Suite