BALANCE CONVERSION

Play it your way. Convert your balance on your terms.

Manage your expenses by converting the outstanding balance on your Citibank credit card into affordable monthly instalments.

Paying your credit card bill has just gotten easier with Citibank Balance Conversion. Whether it's for many outstanding bills, one big purchase or many small transactions, you can now break your payments into smaller, easier instalments. All it takes is one phone call to put your mind at ease.

Benefits
  • Convert your Citibank credit card outstanding balances (minimum balance of RM1000) into smaller amounts.
  • Flat Interest Rate between 9.84%- 9.99% p.a. for Effective Interest Rate (EIR) of 17.9% p.a.
  • Convert a portion of your total outstanding balance
  • Try the Balance Conversion Calculator

    Just key in the amount of your transactions (minimum RM1,000)

    • Amount (RM)
    • Tenure
    • Monthly Instalment (RM)

    Interest rate is fixed at 17.9% p.a.

Convert your outstanding balance and pay from as low as RM36 per month.

Flat Interest Rate Equivalent by tenure

EIR 12 months 18 months 24 months 30 months 36 months
17.9% p.a 9.96% Flat p.a 9.84% Flat p.a 9.85% Flat p.a 9.91% Flat p.a 9.99% Flat p.a
Balance Conversion Amount (RM) Monthly Repayment Amount (RM)
12 18 24 30 36
1,000 91.63 63.76 49.88 41.59 36.10
2,000 183.26 127.52 99.75 83.18 72.20
5,000 458.16 318.79 249.38 207.95 180.51
10,000 916.32 637.58 498.76 415.90 361.02

*The effective annual interest rate will vary from 5.9% p.a. to 17.9% p.a. **Balance Conversion does not apply to cash and cash based transactions, instalment amounts payable under other Citibank programs such as EasyPay, Dial-For-Cash, annual fees, carry forward balances and other charges.

How To Apply
  • Have an outstanding balance of at least RM1,000 on your statement.
  • Decide how much you want to convert into instalments.
  • Call 03-2383 1100 03-2383 1100 (office hours 9.00am - 6.00pm between Monday - Friday except Public Holidays).
  • And it's done! Your first instalment will be shown in your next statement.
  • Not a Citibank cardmember yet? Apply Now!
  • Citibank Online Convenient, secure & efficient banking at your fingertips!

Terms and Conditions: Citibank Balance Conversion Plan (BC) (BC booked on 1 December 2017 onwards)

The word "Card" means all credit cards issued by Citibank Berhad ("Citibank") and the word "Cardmember" means the holder of a Card participating in the Balance Conversion program or BC (defined below). These terms and conditions will apply in conjunction with the provisions set out in the Citibank Card Terms and Conditions, which will apply here with necessary changes having been made, having substituted new terms and with respective differences taken into consideration but where there is any inconsistency between the two, these terms and conditions will prevail to the extent it applies to the Balance Conversion Plan or BC (defined below). All expressions here will have the same meanings as set out in the Citibank Card Terms and Conditions except where the context otherwise requires or where express stated to the contrary.

"BC" means the Balance Conversion plan offered by Citibank which allows selected Cardmembers to convert their outstanding Current Balance or a portion of it which has not passed its Payment Due Date to a monthly instalment plan with applicable interest and other fees as stated in these terms and conditions.

"Card Account" means the Card account of the Cardmember.

  1. The Cardmember will either receive a separate credit limit called Instalment Limit to enjoy only BC and/or the Cardmember may, at Citibank's discretion, use their existing Card credit limit to enjoy BC. For the avoidance of any doubt, Cardmembers are not eligible for temporary increase in their existing Card credit limit in the next 6 months once the Citibank approves the Cardmember’s application. Citibank has the right to, as it deems fit, increase, decrease or amend the Cardmember's Instalment Limit at any time and the Instalment Limit assigned to Cardmembers will be subject to all laws, regulations, directives and guidelines governing the Card.
  2. Only Cardmembers with of good standing or whose Card Accounts are not in default or in breach of the Citibank Card Terms and Conditions or are in over limit are eligible to apply for BC. The Cardmember must meet the minimum acceptance criteria as determined by Citibank when applying for BC.
  3. In making an application for BC, the Cardmember must specify to Citibank, the Outstanding Current Balance or a portion of the Outstanding Current Balance, which the Cardmember wishes to convert under BC ("BC Amount"), provided the Payment Due Date for that Outstanding Current Balance has not passed. BC does not apply to cash and cash based transactions, instalment amounts payable under other Citibank programs such as Citibank Easy Pay Plan (EP), Dial For Cash (DFC), annual fees, carry forward balances and other charges charged by Citibank under the Citibank Card Terms and Conditions.
  4. The minimum BC Amount is RM1, 000 and must not exceed the available credit of the Card. This limit may be varied by Citibank at any time from time to time.
  5. BC will not earn Rewards Points and/or Cash Back accumulation.
  6. Cardmembers must pay interest ("BC Interest") on the BC Amount and for the BC Tenure (defined below). The applicable interest rate will be charged on the BC Amount and will be computed based on a reducing balance basis. The effective interest rate will be calculated based on the actual number of days from the date of approval of the BC Amount to the next immediate statement cycle date. Effective interest rate on Balance Conversion Plan is computed on a 360-day year throughout the tenure. For avoidance of doubt, the first month’s interest will be pro-rated from the approval date to the next immediate statement cycle date and will be reflected (together with any fees or charges) in the next immediate monthly statement. Thereafter, the first monthly instalment (comprising of principal and interest) payable will be reflected in the subsequent statement. For subsequent months, the effective interest rate on each instalment will be charged from one statement cycle date to the next statement cycle date, until the end of the tenure. For the avoidance of further doubt, the first and subsequent payment/instalments forms part of the Monthly Minimum Payment which must be settled by you on or before Payment Due Date.

  7. Illustration:

    Loan Amount : RM10,000
    Effective Interest Rate: 17.9%
    Tenure : 12 Months
    Month Outstanding Loan (RM) Instalment (RM) Interest (RM) Principal Repayment (RM)
    0 10,000.00 74.58
    (Interest only)
    74.58 -
    1 10,000.00 916.32 149.17 767.16
    2 9,232.84 916.32 137.72 778.60
    3 8,454.24 916.32 126.11 790.21
    4 7,664.03 916.32 114.32 802.00
    5 6,862.02 916.32 102.36 813.97
    6 6,048.06 916.32 90.22 826.11
    7 5,221.95 916.32 77.89 838.43
    8 4,383.52 916.32 65.39 850.94
    9 3,532.59 916.32 52.69 863.63
    10 2,668.96 916.32 39.81 876.51
    11 1,792.44 916.32 26.74 889.59
    12 902.86 916.32 13.47 902.86
  8. The Cardmember must choose a tenure for the repayment of the BC Amount together with the BC Interest ("BC Tenure"). The choice of the BC Tenure is as follows but subject to any changes as may be made by Citibank from time to time:

    BC Amount Choice of BC Tenure
    RM1,000 and above 12, 18, 24, 30, 36 months

    Save for the immediate instalment after approval date as per Clause 6 above, during the BC Tenure, the BC Amount together with BC Interest will be billed by way of equal monthly instalment ("BC Monthly Instalment") and will appear in the Cardmember’s monthly statement of account. The BC Tenure and/or the BC Monthly Instalment cannot be varied, extended or modified unless Citibank expressly agrees to such variation, extension or modification.

  9. The approval or otherwise of the Cardmember's application will be subject to, among others:-
    1. the status of the Cardmember’s account;
    2. the status of the transaction at the point of conversion; and
    3. the discretion of Citibank as it deems fit in any case.
  10. The BC Monthly Instalment will be billed to the Cardmember’s Card Account commencing on the immediate next statement of account date following Citibank’s approval of the Cardmember’s application.
  11. The BC Monthly Instalment forms part of the Cardmember's Specified Minimum Payment or Minimum Monthly Payment as defined in the Citibank Card Terms and Conditions and specified as due in the Cardmember’s statement of account or any other written Communication given by Citibank. BC Monthly Instalments must be paid in full on or before the Payment Due Date.
  12. If the current balance specified or appearing in the Cardmembers’ statement of account are paid in full on or before the Payment Due Date, finance charges (or such charge) as is applicable to the Ordinary Transactions in accordance with the Citibank Card Terms and Conditions (“Finance Charge”) will not apply to the BC Monthly Instalment amount. Payments by Cardmembers will be applied to settle taxes, followed by balance(s) attracting the highest interest rate to the lowest interest rate (and in the case of same interest rate, the order will start from the earliest to the latest transaction date). If payment received does not settle the current balance in full, any unpaid BC Monthly Instalment will be subject to Finance Charge, calculated from the posting date in the statement of account until full payment is received.
  13. For the avoidance of any doubt, the Cardmember will be deemed to have defaulted on the repayment of the BC Monthly Instalment amount if the Cardmember does not make the Specified Minimum Payment or Minimum Monthly Payment (or only makes partial payment of the Specified Minimum Payment or Minimum Monthly Payment which is insufficient to cover the BC Monthly Instalment amount), on or before the Payment Due Date as specified in the Cardmember’s Statement of Account (“Instalment Default Payment”). In the event of three (3) or more consecutive instalment default payment events, all monies due and owing under the BC, comprising of the total outstanding BC Monthly Instalment and the total unbilled principal of the BC Monthly Instalment, together with the applicable Finance Charge and balance of all other monies due and owing under the BC will be become immediately due and payable by the Cardmember.
  14. Subject to Citibank’s approval, the Cardmember may at anytime cancel his participation in the BC or elect for early settlement of the BC Amount by calling CitiPhone or such other method as may be determined by Citibank from time to time. Upon such cancellation or early termination or in the event the Cardmember cancels the Card, the Cardmember must pay Citibank the total outstanding principal under the BC together with 5% of the total outstanding principal under the BC for such early termination or cancellation.
  15. Without prejudice to the above, if the Cardmember is in breach of any provisions of the Citibank Card Terms and Conditions or these terms and conditions or in the event of cancellation of the Card or termination of the Card Account or the Card Account whether voluntarily or involuntarily closed for whatever reason, all monies due and owing under the BC, comprising of the total outstanding BC Monthly Instalment and the total unbilled principal of the BC together with the applicable finance charges and balance of other monies owing under the BC will immediately become due and payable by the Cardmember and Citibank may as it deems fit, charge it to the Card Account where the Citibank Card Terms and Conditions will apply to all the said instalments or balance remaining without prejudice to the rights and remedies of Citibank under the Citibank Card Terms and Conditions.
  16. The Cardmember may apply more than once for the BC so long as the Cardmember qualifies for the BC in accordance with these terms and conditions.
  17. Despite the provisions relating to respective rates, the manner and time of payment and modes of computation referred to here, Citibank is entitled at any time and from time to time to vary such rates, manner and time of payment and/or modes of computation in any manner by giving notice to the Cardmember. Without prejudice to the provisions set out in the Citibank Card Terms and Conditions on Communications, the manner of notice, time of effect and the effect of such variation would be in accordance with the Citibank Card Terms and Conditions.
  18. The BC is valid only up till the BC Tenure or any other extended date(s) as Citibank may specify from time to time. To avoid doubt:
    1. Nothing contained here will be construed as an obligation on Citibank to extend the tenure of the BC;
    2. Citibank reserves the right to, as it deems fit, vary or change these terms and conditions from time to time with prior notice by way of posting on Citibank Online found at www.citibank.com.my (“Website”), or in any other manner deemed suitable by Citibank. The Cardmembers agree to access the Website regularly to view these terms and conditions and to ensure that they are kept-up to-date with any variation or changes to these terms and conditions. The Cardmembers agree that their participation in the BC will be considered to be their acceptance of these terms and conditions (which may be varied or changed). Citibank also reserves the right to, as it deems fit, replace wholly or in part the BC by another scheme, whether similar or not, or to withdraw in altogether; and
    3. To the full extent permitted by law, Citibank will not be responsible for and disclaims all liability to any actions, claims, damages, costs, charges and expenses which the Cardmember may suffer, sustain or incur by reason of the Cardmember’s enrollment in the BC.
  19. Citibank reserves the right to describe any of the expressions stated here in a different manner in the statement of account and such descriptions in the statement of account will not be construed against Citibank as having a different meaning as stated here.
  20. Any term or condition which is illegal, prohibited or unenforceable under any law or regulation shall be ineffective to the extent of such illegality, voidness, prohibition or unenforceability without invalidating the remaining terms and conditions.
  21. These terms and conditions will be governed by and construed under the laws of Malaysia.

Terms and Conditions: Citibank Balance Conversion (BC) (BC booked before 1 December 2017 onwards)

The word "Card" means all credit cards issued by Citibank Berhad ("Citibank") and the word "Cardmember" means the holder of a Card participating in the Balance Conversion program or BC (defined below). These terms and conditions will apply in conjunction with the provisions set out in the Citibank Card Terms and Conditions, which will apply here with necessary changes having been made, having substituted new terms and with respective differences taken into consideration but where there is any inconsistency between the two, these terms and conditions will prevail to the extent it applies to the Balance Conversion Plan or BC (defined below). All expressions here will have the same meanings as set out in the Citibank Card Terms and Conditions except where the context otherwise requires or where express stated to the contrary.

"BC" means the Balance Conversion plan offered by Citibank which allows selected Cardmembers to convert their outstanding Current Balance or a portion of it which has not passed its Payment Due Date to a monthly instalment plan with applicable interest and other fees as stated in these terms and conditions.

"Card Account" means the Card account of the Cardmember.

  1. The Cardmember will either receive a separate credit limit called Instalment Limit to enjoy only BC and/or the Cardmember may, at Citibank's discretion, use their existing Card credit limit to enjoy BC. For the avoidance of any doubt, Cardmembers are not eligible for temporary increase in their existing Card credit limit in the next 6 months once the Citibank approves the Cardmember's application. Citibank has the right to, as it deems fit, increase, decrease or amend the Cardmember's Instalment Limit at any time and the Instalment Limit assigned to Cardmembers will be subject to all laws, regulations, directives and guidelines governing the Card.
  2. Only Cardmembers with of good standing or whose Card Accounts are not in default or in breach of the Citibank Card Terms and Conditions or are in over limit are eligible to apply for BC. The Cardmember must meet the minimum acceptance criteria as determined by Citibank when applying for BC.
  3. In making an application for BC, the Cardmember must specify to Citibank, the Outstanding Current Balance or a portion of the Outstanding Current Balance, which the Cardmember wishes to convert under BC ("BC Amount"), provided the Payment Due Date for that Outstanding Current Balance has not passed. BC does not apply to cash and cash based transactions, instalment amounts payable under other Citibank programs such as Citibank Easy Pay Plan (EP), Dial For Cash (DFC), annual fees, carry forward balances and other charges charged by Citibank under the Citibank Card Terms and Conditions.
  4. The minimum BC Amount is RM1,000 and must not exceed the available credit of the Card. This limit may be varied by Citibank at any time from time to time.
  5. BC will not earn Rewards Points and/or Cash Back accumulation.
  6. Cardmembers must pay interest ("BC Interest") on the BC Amount and for the BC Tenure (defined below). The applicable interest rate will be charged on the BC Amount and will be computed based on a reducing balance basis. The effective interest rate will be calculated from the date of approval of the BC Amount. Effective interest rate on Balance Conversion Plan is computed on a 360-day year throughout the tenure. For avoidance of doubt, the first month’s instalment will be pro-rated on a 360-day year computed from the approval date to the next immediate statement cycle date and billed in the next immediate statement cycle. For subsequent months until the end of the tenure, the effective interest rate will be computed from one statement cycle date to the next statement cycle date.

  7. Illustration:

    Loan Amount : RM10,000
    Effective Interest Rate: 17.9%
    Tenure : 12 Months
    Month Outstanding Loan (RM) Instalment (RM) Interest (RM) Principal Repayment (RM)
    1 10,000.00 916.32 149.17 767.16
    2 9,232.84 916.32 137.72 778.60
    3 8,454.24 916.32 126.11 790.21
    4 7,664.03 916.32 114.32 802.00
    5 6,862.02 916.32 102.36 813.97
    6 6,048.06 916.32 90.22 826.11
    7 5,221.95 916.32 77.89 838.43
    8 4,383.52 916.32 65.39 850.94
    9 3,532.59 916.32 52.69 863.63
    10 2,668.96 916.32 39.81 876.51
    11 1,792.44 916.32 26.74 889.59
    12 902.86 916.32 13.47 902.86
  8. The Cardmember must choose a tenure for the repayment of the BC Amount together with the BC Interest ("BC Tenure"). The choice of the BC Tenure is as follows but subject to any changes as may be made by Citibank from time to time:

    BC Amount Choice of BC Tenure
    RM1,000 and above 12, 18, 24, 30, 36 months

    During the BC Tenure, the BC Amount together with BC Interest will be billed by way of equal monthly instalment ("BC Monthly Instalment") and will appear in the Cardmember’s statement of account. The BC Tenure and/or the BC Monthly Instalment cannot be varied, extended or modified unless Citibank expressly agrees to such variation, extension or modification.

  9. The approval or otherwise of the Cardmember's application will be subject to, among others:-
    1. the status of the Cardmember’s account;
    2. the status of the transaction at the point of conversion; and
    3. the discretion of Citibank as it deems fit in any case.
  10. The BC Monthly Instalment will be billed to the Cardmember’s Card Account commencing on the immediate next statement of account date following Citibank’s approval of the Cardmember’s application.
  11. The BC Monthly Instalment forms part of the Cardmember's Specified Minimum Payment or Minimum Monthly Payment as defined in the Citibank Card Terms and Conditions and specified as due in the Cardmember’s statement of account or any other written Communication given by Citibank. BC Monthly Instalments must be paid in full on or before the Payment Due Date.
  12. If the current balance specified or appearing in the Cardmembers’ statement of account are paid in full on or before the Payment Due Date, finance charges (or such charge) as is applicable to the Ordinary Transactions in accordance with the Citibank Card Terms and Conditions (“Finance Charge”) will not apply to the BC Monthly Instalment amount. Payments by Cardmembers will be applied to settle taxes, followed by balance(s) attracting the highest interest rate to the lowest interest rate (and in the case of same interest rate, the order will start from the earliest to the latest transaction date). If payment received does not settle the current balance in full, any unpaid BC Monthly Instalment will be subject to Finance Charge, calculated from the posting date in the statement of account until full payment is received.
  13. For the avoidance of any doubt, the Cardmember will be deemed to have defaulted on the repayment of the BC Monthly Instalment amount if the Cardmember does not make the Specified Minimum Payment or Minimum Monthly Payment (or only makes partial payment of the Specified Minimum Payment or Minimum Monthly Payment which is insufficient to cover the BC Monthly Instalment amount), on or before the Payment Due Date as specified in the Cardmember’s Statement of Account (“Instalment Default Payment”). In the event of three (3) or more consecutive instalment default payment events, all monies due and owing under the BC, comprising of the total outstanding BC Monthly Instalment and the total unbilled principal of the BC Monthly Instalment, together with the applicable Finance Charge and balance of all other monies due and owing under the BC will be become immediately due and payable by the Cardmember.
  14. Subject to Citibank’s approval, the Cardmember may at anytime cancel his participation in the BC or elect for early settlement of the BC Amount by calling CitiPhone or such other method as may be determined by Citibank from time to time. Upon such cancellation or early termination or in the event the Cardmember cancels the Card, the Cardmember must pay Citibank the total outstanding principal under the BC together with 5% of the total outstanding principal under the BC for such early termination or cancellation.
  15. Without prejudice to the above, if the Cardmember is in breach of any provisions of the Citibank Card Terms and Conditions or these terms and conditions or in the event of cancellation of the Card or termination of the Card Account or the Card Account whether voluntarily or involuntarily closed for whatever reason, all monies due and owing under the BC, comprising of the total outstanding BC Monthly Instalment and the total unbilled principal of the BC together with the applicable finance charges and balance of other monies owing under the BC will immediately become due and payable by the Cardmember and Citibank may as it deems fit, charge it to the Card Account where the Citibank Card Terms and Conditions will apply to all the said instalments or balance remaining without prejudice to the rights and remedies of Citibank under the Citibank Card Terms and Conditions.
  16. The Cardmember may apply more than once for the BC so long as the Cardmember qualifies for the BC in accordance with these terms and conditions.
  17. Despite the provisions relating to respective rates, the manner and time of payment and modes of computation referred to here, Citibank is entitled at any time and from time to time to vary such rates, manner and time of payment and/or modes of computation in any manner by giving notice to the Cardmember. Without prejudice to the provisions set out in the Citibank Card Terms and Conditions on Communications, the manner of notice, time of effect and the effect of such variation would be in accordance with the Citibank Card Terms and Conditions.
  18. The BC is valid only up till the BC Tenure or any other extended date(s) as Citibank may specify from time to time. To avoid doubt:
    1. Nothing contained here will be construed as an obligation on Citibank to extend the tenure of the BC;
    2. Citibank reserves the right to, as it deems fit, vary or change these terms and conditions from time to time with prior notice by way of posting on Citibank Online found at www.citibank.com.my ("Website"), or in any other manner deemed suitable by Citibank. The Cardmembers agree to access the Website regularly to view these terms and conditions and to ensure that they are kept-up to-date with any variation or changes to these terms and conditions. The Cardmembers agree that their participation in the BC will be considered to be their acceptance of these terms and conditions (which may be varied or changed). Citibank also reserves the right to, as it deems fit, replace wholly or in part the BC by another scheme, whether similar or not, or to withdraw in altogether; and
    3. To the full extent permitted by law, Citibank will not be responsible for and disclaims all liability to any actions, claims, damages, costs, charges and expenses which the Cardmember may suffer, sustain or incur by reason of the Cardmember’s enrollment in the BC.
  19. Citibank reserves the right to describe any of the expressions stated here in a different manner in the statement of account and such descriptions in the statement of account will not be construed against Citibank as having a different meaning as stated here.
  20. Any term or condition which is illegal, prohibited or unenforceable under any law or regulation shall be ineffective to the extent of such illegality, voidness, prohibition or unenforceability without invalidating the remaining terms and conditions.
  21. These terms and conditions will be governed by and construed under the laws of Malaysia.

Click here for Citibank Balance Conversion Plan Product Disclosure Sheet.

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