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.