The Citi PayLite for Banking Transaction is an option that allows you to apply for a Citibank Credit Card cash instalment plan based on eligible transactions from your Citibank Current/Savings account for an amount up to the banking transaction amount or your available combined credit limit under Citibank Credit Card, whichever lower. You may view the interest rate offered and choose your preferred tenure during the application process. Once application is approved, the available combined credit limit on your Citibank Credit Card will be reduced based on the approved amount. The same approved amount will be disbursed into your Citibank Current/Savings account where the original banking transaction was debited from. Your first month’s instalment will be included in your next statement.
*Effective Interest Rate is calculated based on a monthly reducing balance repayment method whereby the interest per month reduces progressively across the tenure of the loan as the original loan amount is repaid.