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citi paylite for banking transaction

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

Unlock your funds
Unlock your funds

Convert big transactions of RM1,000 and above from your Citibank Current/Savings account into cash instalment plan with small monthly instalments

Instant credit
Instant credit

Upon successful application, the approved amount will be instantly deposited to your Citibank Current/Savings Account from which the transaction originated

Simple and hassle-free
Simple and hassle-free

Enjoy flexible cash flow management with a few taps, no documents required

How it works


citibank

John transfers RM7,000 from his Citibank Savings account to his contractor for his home renovation.

citibank mobile

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.

citibank

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.

citibank

RM7,000 will be disbursed to John’s Citibank Savings Account (from which the transaction originated) instantly.

Frequently asked questions

  • What is Citi PayLite for Banking Transaction?

    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(%) Equivalent Flat Interest Rate(%) Tenure(Months)
    Up to 17.9%p.a. Up to 10.57%p.a. depending on the Effective Interest Rate & tenure applied for 6, 12, 18, 24, 30, 36, 48 or 60 months

    *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.

  • What type of transactions can be converted into Citi PayLite for Banking Transaction?

    You can convert bill payments, cash withdrawals, fund transfers or debit card purchases in Ringgit Malaysia (RM) with a minimum amount of RM1,000 into a cash instalment plan on your credit card, subject to the availability of the corresponding combined credit limit on your credit card. The following transactions are not eligible for conversion under Citi PayLite Banking Transaction: purchases of insurance and investment products, cryptocurrency purchases, gambling, payment of deposit for purchase of vehicle(s) and property(ies), fund transfers to your own banking accounts, loans and credit card payments, foreign currency transactions, payment for government services, fines and tax(es). For the full list of excluded transactions, please refer to here.

  • 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?

    The Citi PayLite for Banking Transaction amount offered will be up to your Citibank Credit Card available combined credit limit.

  • Do I earn any rewards points, miles or cash rebates for the transactions I convert?

    No rewards points, miles or cash rebates will be awarded to your Citibank Credit or Debit Card for transactions that are converted.

  • What happens if I have multiple Citibank Current/Savings accounts? Can I select a particular account where funds will be deposited?

    After you have converted a transaction into Citi PayLite for Banking Transaction, the funds will be deposited via electronic funds transfer to your Current /Savings account from which the transaction originated.

  • Which credit card will the instalment be charged to if I have multiple credit cards with Citibank?

    The instalment plan will be charged to the credit card with the highest available credit limit.

  • Is there any processing fee charged for this?

    There is no processing fee that will be charged.

  • Can I convert transactions in foreign currency into Citi PayLite for Banking Transaction?

    At the moment, you can only convert transactions in (Ringgit Malaysia).

  • Can I make early repayment in full?

    Subject to Citibank’s approval, you may at any time cancel your Citi PayLite for Banking Transaction or elect for an early settlement of the Citi PayLite for Banking Transaction amount. Upon such cancellation or early termination, you are required to pay Citibank 5% of the total outstanding principal along with the total outstanding principal under the Citi PayLite for Banking Transaction instalment plan.

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 to view Citi Credit Cards Terms and Conditions (under the "Fixed Payment Options and Other Special Promotions or Citi Credit Card Products" Section)

7. Please click here for Citi PayLite Product Disclosure Sheet.