"BTI" means the Balance Transfer Program via Instalment Plan offered by Citibank, which allows a Cardholder of good credit standing to transfer the whole or part of his/her Outstanding Balance (as defined below) to any Citibank Card Account held by the Cardholder and convert it to a monthly instalment plan together with the applicable interest and fees.

"Outstanding Balance" means the outstanding balance (including fees, accrued interest, finance charges and other charges) as shown in the latest account statement(s) from any principal card account of any credit card held in the Cardholder’s name issued by Other Licensed Institution (as defined below).

"Other Licensed Institution" means any other licensed banks, financial institutions and credit card issuers situated in Malaysia which issues credit cards apart from Citibank.

"Amount Transferred" means the whole or part of the Outstanding Balance that is transferred by Citibank to the Cardholder's Card Account by debiting the Cardholder's Card Account pursuant to the BTI.

"Instalment Limit" means a new credit limit given to the Cardholder for BTI only which may be varied by Citibank at any time, and which is subject to all laws, regulations, directives and guidelines governing the Card.

You agree to the following terms and conditions:

1. The BTI is made available to the Cardholder subject to these Terms and Conditions. Citibank has the right to transfer the whole or part of the Outstanding Balance as applied by the Cardholder.
2. Only Cardholders who have complied with the Citibank Card Agreement and who are of good credit standing meaning to say that they have not defaulted in any payment on Payment Due Date, who have not exceeded their respective Card credit limits and/or who have not defaulted in any other facilities granted by Citibank are eligible for the BTI.
3. Unless waived by Citibank, the Cardholder must submit the latest bank statements and other documents that may be required by Citibank to process the application for BTI.
4. If approved by Citibank, the Outstanding Balance will be transferred within 14 days of Citibank's receipt of the relevant documents. However, Citibank may postpone or refuse the application for BTI on grounds such as the following:
   1. if the Outstanding Balance to be transferred exceeds the Cardholder's available credit limit under the Cardholder’s Card Account,
   2. if the Outstanding Balance does not meet the minimum prescribed BTI amount (currently at RM1,000, unless determined otherwise by Citibank),
   3. if the Cardholder has committed or is suspected of committing any fraudulent or wrongful acts in relation to the use of his/her Card, or
   4. any circumstances beyond Citibank's control.
5. Citibank will notify the Cardholder within 14 days of receipt of the application if the application is successful. If the Cardholder does not receive such notification, it will be considered that the application has not been approved. In carrying out the BTI, Citibank will not be responsible to the Cardholder for any penalty, fees, interest or any other charges incurred by the Cardholder to the Other Licensed institution caused by a delay or failure of Citibank in paying the Outstanding Balance. Citibank will not be responsible for releasing the Cardholder from his/her responsibilities towards the Other Licensed Institution (if any).
6. The Cardholder may either receive the Instalment Limit which can be utilized for the BTI or use his/her existing Card credit limit for the BTI.
7. Unless the Instalment Limit is granted, a debiting of the Cardholder’s Card account with the Amount Transferred will be considered to be a utilization of his/her existing available credit limit, This credit limit will be made available to the Cardholder again upon a repayment of the amount.
8. The Amount Transferred is subject to an effective interest rate as determined by Citibank (“BTI Interest”) throughout the BTI Tenure (as defined below) which is calculated on a reducing balance repayment method. The effective interest rate payable by the Cardholder will be calculated from the date of approval of the Amount Transferred. Depending on when the BTI is approved, interest for the first monthly instalment will pro-rated as interest for the first monthly instalment will be calculated from the date of such approval to the date of the next statement and after that, interest will be calculated from the date of one statement to the other.

Illustration:


BTI AMOUNT : RM10,000 EFFECTIVE INTEREST RATE: 9.9% per annum TENURE (MTHS) : 12 MONTHLY INSTALMENT : RM 87.87
Month	Outstanding Principal (Beginning) (RM)	BTI Monthly Instalment (RM)	BTI Interest (RM)	Principal Deduction (RM)	Outstanding Principal (Ending) (RM)
0					1,000.00
1	1,000.00	87.87	8.25	79.62	920.38
2	920.38	87.87	7.59	80.28	840.1
3	840.1	87.87	6.93	80.94	759.17
4	759.17	87.87	6.26	81.61	677.56
5	677.56	87.87	5.59	82.28	595.28
6	595.28	87.87	4.91	82.96	512.32
7	512.32	87.87	4.23	83.64	428.68
8	428.68	87.87	3.54	84.33	344.35
9	344.35	87.87	2.84	85.03	259.32
10	259.32	87.87	2.14	85.73	173.59
11	173.59	87.87	1.43	86.44	87.15
12	87.15	87.87	0.72	87.15	0

9. For avoidance of doubt, if there are any changes to the applicable interest rates after the approval of the Cardholder’s BTI application, the BTI will still be charged with the BTI interest rate locked-in at the point of the Cardholder’s BTI approval.
10. The Cardholder must select the tenure (“BTI Tenure”) for the repayment of the Amount Transferred together with the BTI Interest in accordance with these Terms and Conditions. The choice of the BTI Tenure is as follows subject to any changes (or any other period) that may be made by Citibank :      
    
    

    Amount Transferred	Choice of BT Tenure
    RM1, 000 and above	6, 9, 12, 18, 24, 30, 36 months

    During the BTI Tenure, the Amount Transferred in aggregate with BTI Interest (defined above) must be paid by way of equal monthly instalments, “BTI Monthly Instalment”). The Cardholder is not at liberty to change the BTI Tenure and/or the BTI Monthly Instalment.

11. The BTI Monthly Instalments will be billed to the Cardholder’s Card Account, starting on the next statement date immediately following Citibank’s approval of the Cardholder’s application.
12. In the event of any delay or failure to pay any BTI Monthly Instalment in full on or before the Payment Due Date specified in the Cardholder’s monthly statement ("Instalment Default Payment"), such charge as is applicable to the Ordinary Transactions in accordance with the Citibank Card Agreement ("Finance Charge") will apply to the BTI Monthly Instalment amount which is outstanding. Any unpaid BTI Interest outstanding on the Payment Due Date specified in the statement may be capitalized on each Payment Due Date and subject to the Finance Charge until full repayment of the outstanding amounts. Notwithstanding and in addition to the above, in the event of three (3) or more consecutive BTI Monthly Instalment Default Payments, all monies due and owing under the BTI, comprising of the total of the outstanding BTI Monthly Instalments and total of any unbilled principal of the Amount Transferred, together with the applicable Finance Charge and balance of all other monies due and owing under the BTI will be due and payable by the Cardholder.
13. Subject to Citibank’s approval, the Cardholder may at any time, by calling CitiPhone at 603-23830000, cancel the BTI and apply for early settlement of the BTI by paying the total of the outstanding BTI Monthly Instalments and total of any unbilled principal of the Amount Transferred. Citibank may provide for any other method of cancellation. If the cancellation termination is made before half of the BTI Tenure has passed, the Cardholder will pay Citibank an additional RM100 early settlement fee (“Early Settlement Fee”). If the BTI Tenure consists of an odd number of months, the term "half of the BTI Tenure" means the next nearest whole month (e.g. For a 9-month BTI Tenure, “half of the BTI Tenure” is 5 months). For the avoidance of doubt, the Early Settlement Fee will be charged on each BTI booked and subsequently terminated before reaching half of the BTI Tenure.
14. Without affecting Clause 12 above, if the Cardholder is in breach of the Citibank Card Agreement or these Terms and Conditions or in the event of cancellation of the Card or termination of the Card Account or closure of the Card Account for whatever reason, all monies owing under the BTI will immediately have to be paid by the Cardholder and will be charged to the Card Account. The Citibank Card Agreement will apply to all the said instalments or balance without affecting the rights and remedies of Citibank under the Citibank Card Agreement.
15. Each BTI Monthly Instalment forms part of the Cardholder's Specified Minimum Payment, as defined in the Citibank Card Agreement, which will be stated as due in the Cardholder’s statement or any other written notice given by Citibank. The applicable charge will be made on any unpaid balance of the BTI Monthly Instalment.
16. Even if there are provisions relating to respective rates, manner and time of payment and modes of computation referred to here, Citibank may, with notice, vary such rates, manner and time of payment and modes of computation without the Cardholder’s consent. The manner of notice, time of effect and the effect of such variation will be in accordance with the Citibank Card Agreement.
17. The BTI is valid only up till the BTI Tenure or any other extended date(s) as Citibank may specify. To avoid doubt:
    1. Nothing here will be considered to be a responsibility of Citibank to extend the term of the BTI;
    2. Citibank reserves the right to change these Terms and Conditions in accordance with the terms and conditions as set out in the Citibank Card Agreement with prior notice. These Terms and Conditions may be changed by posting on its www.citibank.com.my website (“Website”) or in any other manner which Citibank decides is suitable. The Cardholders agree to access the Website regularly to view these Terms and Conditions and to ensure that they are kept-up to-date with any changes to these Terms and Conditions. The Cardholders agree that their participation in the BTI will be considered to be their acceptance of these Terms and Conditions (which may be varied). Citibank also reserves the right, with notice, to replace the BTI with another scheme or to remove it altogether; and
    3. Citibank will not be responsible for and disclaims all liability to any actions, claims, damages, losses, costs, charges and expenses which Cardholders may suffer, sustain or incur by reason of their participation in the BTI.
18. The Amount Transferred in accordance with the BTI will not earn Rewards Points and/or cash rebates even though the Card held by the Cardholder may normally earn Rewards Points or the Card is a cash-back credit card.card.
19. All matters of disputes are subject to the final decision of Citibank.
20. Citibank reserves the right to describe any of the expressions set out here in a different manner in the Statement of Account but such descriptions in the Statement of Account will not affect the meanings of the expressions set out here.
21. These Terms and Conditions will be governed by and interpreted in accordance with the laws of Malaysia.