Citibank Malaysia
Terms & Conditions
1. The Plan is available until further notice by Citibank Berhad (“the Bank”).
2. The Progressive Investment Plan (“Plan”) comprises investments in unit trusts and placement of time deposits over a period of time. The investment amount required is a minimum of RM120,000 (“Plan Amount”) and is payable in full upfront and invested in equal portions over a period of 6 months, as selected by you. The first portion is invested into unit trust(s) of your choice (“Investment Account”) and the remaining portions are concurrently placed in several time deposits of equal principal amounts with maturities in consecutive months.
3. Upon maturity of each time deposit, the principal and interest thereof will be transferred into your designated current or savings account (“the Account”). Consequently, you authorise the transfer of the principal amount from the Account to the Investment Account, and this amount shall be used to make payments for your subscriptions in the same unit trust(s) which you have chosen, and all charges that may be payable in respect of or in connection with such subscriptions.
4. The subscription for the relevant unit trust will be made on the same day of the maturity of the time deposit, or if the maturity date is on a Public Holiday, Saturday or Sunday, it will be on the next working day.
5. This Plan is only applicable to all unit trust funds with a minimum 2% sales charge which allows daily subscription.
6. No subscription for any unit trust(s) selected by you shall be made other than on a working day. The Bank shall also be entitled to refuse to effect any transaction through the Plan by giving notice to you.
7. You will enjoy preferential Time Deposit rates. However, these preferential Time Deposit interest rates are subject to change and will be different depending on when you sign up for the Plan. You may refer to your Relationship Manager for the current preferential Time Deposit Interest rates. For avoidance of doubt, the specific preferential Time Deposit interest rate will not change during the duration of the Plan once you have subscribed to the Plan.
8. You should be aware that the Plan will be terminated if:
a) deduction of the relevant amounts to subscribe for unit trust(s) is unsuccessful due to insufficient funds in your Account,
b) any of the time deposit(s) placed pursuant to the Plan is terminated prior to the Plan Maturity and not invested in unit trust(s), or
c) you reduce or withdraw all or any part of the Plan Amount prior to the Plan Maturity.
9. Upon termination of the Plan, all and any fee waivers or any other benefits which may have been granted by the Bank in connection with the Plan at the point of subscription will be withdrawn. For avoidance of doubt, upon termination, the balance of any time deposit(s) (if any) will be credited into your Account and you may only receive partial interest or no interest (depending on the date of cancellation of the time deposits) which will also be credited to your Account (if any).
10. Investors should be aware of the laws in their home countries with regards to their banking with Citibank Berhad. Citibank Berhad shall not be liable for any loss or liability imposed on the investors by their home countries as a result of their non-compliance with any regulations, laws, or legal process of their home countries.
11. The Bank's standard terms and conditions governing Time Deposit Accounts also apply to the Plan.
12. The offer is not available in conjunction with other promotional offers.