Unlock your funds for future needs
Convert your banking transactions into cash instalment plan with Citi PayLite for Banking Transaction
Manage your cash flow flexibly with Citi PayLite for Banking Transaction.Product Disclosure Sheet
Convert big transactions of RM1,000 and above from your Citibank Current/Savings account into cash instalment plan with small monthly instalments
Upon successful application, the approved amount will be instantly deposited to your Citibank Current/Savings Account from which the transaction originated
Enjoy flexible cash flow management with a few taps, no documents required
How it works
John transfers RM7,000 from his Citibank Savings account to his contractor for his home renovation.
He receives an SMS offer to convert his fund transfer into cash instalment on his Citibank Credit Card, for an amount up to RM7,000 or his available combined credit limit, whichever lower.
He accepts the offer with just a few taps. Once completed, RM7,000 will be deducted from his available combined credit limit and booked as a monthly instalment plan with his preferred tenure.
RM7,000 will be disbursed to John’s Citibank Savings Account (from which the transaction originated) instantly.
Frequently asked questions
Frequently asked questions
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What is Citi PayLite for Banking Transaction?
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What type of transactions can be converted into Citi PayLite for Banking Transaction?
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If my available credit limit is lower than the banking transaction amount, what is the Citi PayLite for Banking Transaction amount I am eligible for?
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Do I earn any rewards points, miles or cash rebates for the transactions I convert?
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What happens if I have multiple Citibank Current/Savings accounts? Can I select a particular account where funds will be deposited?
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Which credit card will the instalment be charged to if I have multiple credit cards with Citibank?
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Is there any processing fee charged for this?
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Can I convert transactions in foreign currency into Citi PayLite for Banking Transaction?
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Can I make early repayment in full?
Terms & Conditions
1. Citi PayLite for Banking Transaction is an option which allows you to convert eligible banking transactions from your Citi Current/Savings Account (excluding joint account) to a fixed monthly instalment plan on your Card, which will be repaid together with the interest over it. The converted amount will be deemed as a form of Cash Advance drawn from your Card (subject to available combined Credit Limit) and will be deposited via electronic funds transfer to your CASA from which the transaction originated.
2. The Citi PayLitefor Banking Transaction Amount will be considered to be utilisation of my existing available Credit Limit. For the avoidance of doubt, your Credit Limit will be made available to you again upon repayment of the monthly instalment amount.
3. Your credit card account(s) or other facility or loan account(s) (if any) must be valid and in good standing (including not being overdue in payment), with the application subject to Citibank's approval.
4. The Citi PayLite for Banking Transaction instalments form part of the Minimum Monthly Payment which must be settled by you on or before Payment Due Date. The Citi PayLite for Banking Transaction instalments are billed to the credit card account monthly similar to a normal retail transaction and are subject to usual Finance Charges if you pay or had paid less than the outstanding balance appearing on your current or previous monthly statements by the Payment Due Date.
5. Upon cancellation or early settlement of the Citi PayLite for Banking Transaction amount, you must pay the total outstanding principal together with 5% settlement fee (or any prevailing early settlement fee) of the total outstanding principal.
6. Please click here for Citi PayLite for Banking Transaction Terms and Conditions.
7. Please click here for Citi PayLite Product Disclosure Sheet.