It's always a good idea to keep the outstanding balance of your credit card at the lowest interest rate where possible. Which is why Citibank offers you the Citibank Balance Transfer via Instalment Plan!
What is Citibank Balance Transfer via Instalment Plan?
A credit card flexi payment plan that gives you a low and flat interest rate when you consolidate all the outstanding balances from other credit cards to Citibank credit card. You can choose a comfortable repayment period that fits your need, which is between 6 to 36 months.
You have to transfer at least RM1,000 to make this balance transfer work for you, while the maximum you can transfer will depend on your credit limit.
Can I pay more on my monthly repayments?
Citibank Balance Transfer via Instalment Plan offers fixed monthly instalment. So if you make an excess payment, your outstanding debt will not be reduced but will be treated as advance payment.
What if I fail to make my repayments?
In the event that you fail to pay your monthly instalment for 3 months or more, a higher interest rate will be charged upon your outstanding balance. Would you want to risk going back to square one with high credit card interest charges?
Can I settle my credit card debts early?
Yes, you can. There is no early settlement fee for this balance transfer plan!
Am I eligible to collect rewards from balance transfer repayment?
Unfortunately, no rewards or cash back is offered for this balance transfer plan.