Auto Balance Conversion

Citibank No Interest Credit Card

This programme is aimed at helping eligible customers pay off their outstanding credit card balances in a shorter period at a lower rate. This will reduce the overall interest to customers.

It is also designed to promote prudent financial management among consumers, i.e. spending within your means and paying your credit card debt faster.

Auto Balance Conversion Programme

Under the Citibank Referral Program, you can earn up to 9,999 by referring your family and friends for the card.; This reward money will be credited to you only if the person referred by you applies for the Credit Card within 120 days from the date on which the referral is made. The eligible amount for conversion is your statement balance after the Minimum Payment, any cash transactions, any dispute transactions, any reverted transactions, any transactions which are converted or eligible for other instalment programs from Citibank, Annual Fee, Joining Fee and other fees stated in Citibank Credit Card Term and Conditions have been deducted. Shockwave installer full. free download.

Low Rate

13% p.a. EIR* vs. 15%-18% p.a. on your credit card unpaid balances

Zero Fee

No processing fee at each conversion and no termination fee when you wish to early settle the instalment plan

Hassle-Free

Auto-convert your unpaid credit card balances every 12 months at a lower rate

Features

Eligible customer will be given advance notice prior to being enrolled into the programme. The customer may decline the offer.
Your unpaid credit card outstanding balances will be converted into 36 monthly instalments at 13% p.a. EIR*
You must pay the instalment in full every month
Minimum convertible amount is RM1,000

* EIR refers to Effective Interest Rate

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Please note that the amount converted will be booked on your existing credit card limit. Each monthly instalment you repay will incrementally restore your available credit limit or in full once the Auto Balance Conversion is fully repaid.

How it works

Upon enrolment for this programme, your credit card outstanding balance will be assessed after payment due date and converted into 36 monthly instalments upon meeting the eligibility criteria every 12 months.

25 Jul 2019

25 Aug 2019

1 Sep 2019

21 Sep 2019

26 Sep 2019

Sep 2020 Statement

Notes:

Dates above to denote timeline of how the process works Card

Citibank will auto-enrol eligible customers
Upon enrolment, the outstanding balances will be converted by payment due date + 4 days (payment grace period)

Citibank Credit Card Payment Locations

Monthly Payment Due Illustration

This is only an illustration of minimum payment due with and without the Auto Balance Conversion with the following assumptions:

Minimum payment due is 5% of statement balance. Customer makes minimum payment due (5%) monthly.
There is no new retail spend or cash advance following the conversion.
The outstanding balance consists of retail spend only and revolves at 17% p.a.
The monthly instalment amount from Auto Balance Conversion is RM320 and 100% of instalment amount is demanded as part of minimum payment due.

Eligibility criteria

Nationality: Malaysian
Monthly Income: Less than or equal to RM5,000 (note that this refers to the latest verified income per Citibank’s record)
Payment History: Payment ratio less or equal 10% (12 previous months’ average)
Payment ratio = Total payment / Total statement balance (12 previous months)
Your card account is current and not delinquent

Notes:

You will not qualify for future auto conversion if your monthly income is above RM5,000.
You will continue to pay down any outstanding instalments from earlier converted balances.
You are encouraged to keep Citibank updated on any changes to your income level.
Please contact Citibank for the details on income update.

Opt-Out or Cancel

Citibank Credit Card Interest Free Installment

Opt-out from this programme by logging on to Citibank Online or call Citibank.
Upon opt-out, Citibank will not convert your credit card balance to an instalment plan at that point in time.
Citibank will inform you of the next balance conversion offer 12 months later if you meet the eligibility criteria.
Upon conversion of your credit card balance, you are allowed to cancel within 30 days from the date of conversion without any termination fee. This cooling-off period only applies to 1st time conversion.
If you opt to cancel/perform early settlement on the instalment plan during the 3-year tenure, you will have to pay the outstanding principal in full. Note that there will be no early termination fee.

Citi Credit Card Interest Rate

Frequently Asked Questions

How To Pay Citibank Credit Card Installment

Auto Balance Conversion is a credit card programme available to eligible cardmembers to automatically convert the outstanding balances into smaller instalments if the eligibility criteria are met. If your outstanding statement balance meets a minimum amount of RM1000, it will be converted into an instalment plan at 13% p.a. for 36 months. You may choose to opt-out of this programme at any time.
You are eligible for the Auto Balance Conversion upon meeting the following eligibility criteria:
- Monthly income = <RM5,000 (latest verified income as per record with Citibank) and
- Payment ratio = <10% of outstanding balances over last 12 months’ average
  (Payment ratio = Total payment over last 12 months / Total statement balance over last 12 months)
  Eligibility will be assessed annually.
You will be automatically enrolled into the programme by Citibank upon meeting the eligibility criteria every 12 months.
How does Auto Balance Conversion work and when does conversion happen?
Upon auto enrolment to the programme, your credit card statement balance wi

Citibank Credit Card Interest Free Instalment