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Citibank Balance Conversion Plan

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Now expenses can be easily managed by converting outstanding balance on the Citibank Credit Card.

Features and Benefits of Citibank Balance Conversion Plan

Choosing the Citibank balance conversion plan comes with a number of benefits. A few of the perks have been mentioned as under:

  • A minimum balance of RM1000 on the outstanding balances of Citibank credit card, into smaller amounts
  • Flat interest rates applicable for effective interest rate (EIR) are between 9.84%-9.99% per annum
  • The total or a portion of the outstanding balance can be converted

Interest Rates of Citibank Balance Conversion Plan

The outstanding balance can be converted easily in a phone call and the EMI is as low as RM36 per month. Here are the rates of interest equivalent by tenure:

EIR (Effective Interest Rate) 12 months 18 months 24 months 30 months 36 months
17.9% p.a. 9.96% flat p.a. 9.84% flat p.a. 9.85% flat p.a. 9.91% flat p.a. 9.99% flat p.a.

Balance Conversion Amount (RM)

Monthly Repayment Amount (RM)

12

18

24

30

36

1,000

91.63

63.76

49.88

41.59

36.10

2,000

183.26

127.52

99.75

83.18

72.20

5,000

458.16

318.79

249.38

207.95

180.51

10,000

916.32

637.58

498.76

415.90

361.02

How to Apply for Citibank Balance Conversion Plan

Applying for Citibank’s balance conversion plan is very simple. Here are the steps given below:

  • In case you have an outstanding balance of at least RM1000 on your statement, decide on the amount to be converted.
  • Call 03-2383 1100 (office hours 9.00am - 6.00pm between Monday - Friday except Public Holidays).
  • The first instalment will reflect in the next statement.

FAQ’s for Citibank Balance Conversion Plan

Q. What is Balance Conversion Plan?

A. Balance Conversion (BC) allows selected customers to convert their outstanding credit card into a monthly instalment plan. This instalment plan does not apply cash and cash based transactions, instalment amounts payable under other Citibank programs such as Citibank Easy Pay Plan (EPP), Dial For Cash, annual fees, past due amount and other charges charged by Citibank.

Q. What is the benefit of availing the Balance Conversion Plan from Citibank?

A. With Citibank’s Balance Conversion Plan you will be able to manage your expenses effortlessly by converting outstanding balance on your Citibank credit card into affordable monthly instalments.

Q. What is the minimum amount required for conversion?

A. You should have at least RM1000 as an outstanding balance in your statement in order to convert the amount into easy monthly instalments.

Q. Are there any fees or charges that I have to pay?

A. No. There are no charges levied on the plan. However, in case you fail to fulfill the payment obligations or early settle before maturity, you may have to pay a nominal fee. The amount will be determined by the bank based on your outstanding amount.

Q. What if I fail to fulfill my payment obligations?

A. The instalments are due in full for 3 consecutive months. However, in case of lapse or failure to pay instalments, all monies due and owing under the Balance Conversion plan will be entitled to demand from the customer. The dues comprise total outstanding Balance Conversion monthly instalment and the total unbilled principal. There will also be a finance charge or interest applicable on other monies.

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  • Citi Clear Card
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  • Shell-Citi Credit Card
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  • Standard Chartered Visa Platinum
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