TERMS AND CONDITIONS

Late Payment Fees & Finance Charges

Late Payment Fees & Finance Charges

To promote sound financial and debt management, cardmembers are encouraged to pay promptly (before the Payment Due Date stated in the Statement of Account) to enjoy our Preferred Tier Rate and not be charged Late Payment Fees.

A. Late Payment Fees

Late Payment Fees
If minimum payment is not made by payment due date, a late payment charge will be levied at 1% of unpaid balances from retail transactions and cash advances, subject to a minimum of RM10, up to a maximum of RM100.

B. Finance Charges.
To the extent permitted by law, the Finance charges are imposed on the portion of balances that relates to finance charges and other fees or charges (excluding late payment charge) that were carried forward from balances posted in previous statements.

Finance charges will be levied on the outstanding balance or Current Balance in your statement at the rates prescribed by Bank Negara Malaysia under its guidelines (including its credit card guidelines, as amended from time to time) (or such other rate that may be lower as determined by us at our discretion and as we deem fit) and subject to the maximum rates for the following categories:-

Tier Description Finance charges
Tier I Cardmembers who promptly settle their Minimum Monthly Payment due for twelve (12) consecutive months. 15% p.a.
Tier II Cardmembers who promptly settle their Minimum Monthly Payment due for ten (10)/ eleven (11) months in the last twelve (12) consecutive months. 17% p.a.
Tier III Cardmembers who make nine (9) months or less prompt payments of their Minimum Monthly Payment in the last twelve (12) consecutive months. 18% p.a.

Frequently Asked Questions

  • What are the tiers for the finance charges?

    Refer to B. Finance Charges shown above.

  • What is the late payment fee?

    Refer to the A. Late Payment Fees shown above.

  • I am a new Citibank credit cardmember, which finance charge rate will apply to me?

    For new Citibank credit cardmembers, finance charges of 18% p.a. will be applied. The applicable tiered finance charges will only be effective until such time when you have the minimum 12 months repayment record with us. Thereafter, the applicable tiered pricing rate will apply (Tiered I to Tiered III).

  • I am an existing Citibank credit cardmember but I do not have 12 months record with Citibank, which finance charge rate will apply to me?

    A finance charge of 18% p.a. will be applied to you until such time when you have the minimum 12 months repayment record with us. Thereafter, the applicable tiered pricing rate will apply (Tiered I to Tiered III).

  • How can I find out about my finance charges?

    The finance charges applicable on your credit card will be reflected in your statements. Cardmembers are encouraged to pay promptly (before the Payment Due Date stated in the Statement of Account) to avoid late payment and finance charges. Enroll to our online e-statements to enjoy the convenience of receiving your statements directly from your email. To find out more, please visit, https://www.citibank.com.my/english/citi-online/citi-online-electronic-statement.htm?eOfferCode=MYULBWU2

  • How will the New Interest Methodology (effective 1 November 2017) affect instalment plans which I am servicing every month, for example, Easy Pay Plan (EPP)?
     

    If the outstanding balances appearing in the credit card statement are settled in full before payment due date, your instalments  (for example, EPP instalment) will not attract finance charges.  You will continue to enjoy a minimum of 20 days interest-free period, provided that the outstanding balances carried forward from the previous month’s statement cycle are settled in full before payment due date. 

    If outstanding balances from the previous month’s statement cycle are carried forward, those balances and any instalments posted on current month’s statement cycle will attract finance charges.  In this case, you will not be able to enjoy the 20-days interest-free period until the subsequent monthly cycle after your outstanding balances are paid in full.

If you require further information, kindly contact CitiPhone at 03-2383 000003-2383 0000 (Kuala Lumpur), 04-296 000004-296 0000 (Penang),
07-268 000007-268 0000 (Johor Bahru) or 1 800 82 10101 800 82 1010 (Sabah & Sarawak).