A Fixed Payment Option allows you to take advantage of an interest rate lower than the standard Annual Percentage Rate you currently pay on your credit card account for a fixed term of your choice.
You can use a Fixed Payment Option in three ways:
a) Citi Cash Instalment Plan – Lets you set aside part of your existing account credit limit at a lower interest rate. You simply need to tell us the amount you would like at the Fixed Payment Option rate and your preferred available repayment term and we can set up a Fixed Payment Option for you.
b) Citi Statement Instalment Plan – Allows you to convert up to you retail balance less the minimum due amount (as shown on your latest statement) into fixed Monthly Instalments at the interest rate for a term of your choice. Balance Transfers, card fees, interest charges, cash advances and existing Fixed Payment Options are not eligible for conversion.
c) Citi Transaction Instalment Plan – Allows you to convert eligible retail purchase/s equal to a lower rate at your preferred available repayment term.
The Fixed Payment Option is an offer and is subject to your eligibility at the time of processing. Setting up a Fixed Payment Option results in fixed monthly payment amounts that are rolled into the Minimum Payment Due amount on your monthly statement. You pay the Fixed Payment Option off with Monthly Instalment amounts over your chosen term, which means by the end of your fixed term, you will have paid the full amount off entirely provided you’ve made all of your repayments on time.