Apply today and enjoy an affordable loan rate of 0% p.a. interest with 1.58% service fee
Citibank Balance Transfer Loan
- With Citibank Balance Transfer, you can enjoy 0% p.a. interest rate for 6 months with just 1.58% upfront service fee
- Cash in hand for your well-deserved holidays or pay off your outstanding balances with other banks
- Flexibility in monthly repayment
Welcome offer for new customers: 0% p.a interest for 6 months with 1.58% service fee with Citibank Balance Transfer. Welcome offer rate applies for minimum loan amount of S$500
Loan Review
Citibank is giving a Welcome offer of 0% p.a interest for 6 months with 1.58% service fee with Citibank Balance Transfer for new Citibank customers who apply for Citibank Ready Credit account with S$500 minimum loan amount
- EIR 3.60% p.a (Citibank Ready Credit)
- EIR 3.65% p.a (Citibank Credit Cards)
The flexible payments allow you to pay a minimum amount every month.
For Ready Credit: Pay a minimum of 3% of the transfer amount or S$45, whichever is higher throughout the loan tenure.
For Credit Card: Pay a minimum of 1% of the transfer amount or S$50, whichever is higher throughout the loan tenure.
Loan Details
- I agree that my balance transfer program (“Program”) is governed by these terms and conditions (“Terms”). I agree that the balance transfer (“BT”) interest rate as communicated by Citibank Singapore Limited (“Citibank”) to me is only applicable to the funds transferred pursuant to this Program for the tenure as communicated by Citibank to me (“Tenure”) and as set out in my confirmation letter.
- I will continue to be bound by the Citibank Ready Credit (“CRC”) Customer’s Agreement (“CRC Agreement”) and all terms and references used, defined or construed in the CRC Agreement and not otherwise defined in these Terms shall have the same meanings and construction when used in these Terms. In the event of any inconsistency between these Terms and the CRC Agreement, these Terms shall prevail in so far as they relate to this Program.
- This Program shall not be revocable by me without the prior written approval of Citibank.
- Approval of this Program is subject to Citibank’s discretion. Citibank is entitled to reject this Program without providing anyreason. Citibank may amend these Terms, including the BT interest rate applicable to funds transferred by this Program, at anytime without prior notice.
- This balance transfer amount shall be for at least S$500 and must be in Singapore dollars.
- Approval of this Program is subject to:
- (a) my CRC Account being in good standing;
- (b) review and approval by Citibank; and
- (c) the outstanding balance on my CRC, including amounts transferred and service fees chargeable (where applicable) pursuantto this Program, not exceeding 90% of the permanent credit line assigned for my CRC Account.
- Citibank shall effect this Program within a minimum of five banking days (excluding Saturdays and Sundays) from the date it receives this application. This balance transfer amount will be credited to my designated account five banking days after it hasbeen charged to my CRC Account.
- If this Program is approved, the service fee (if applicable) will be charged upfront, and will be subject to interest charges at the BTinterest rate.
- If I do not make the minimum monthly payment stated in my monthly statement of account when due, late charges shall apply.
- The monthly minimum interest payable for any outstanding balance in my CRC Account is S$5.00.
- This Program cannot be made to credit another Citibank unsecured credit facility account.
- Interest is computed as follows:
- (a) subject to paragraph 13, during the Tenure, interest shall accrue on a daily basis on the funds transferred pursuant to this Program at the BTinterest rate with effect from the date that the funds are charged to my CRC Account pursuant to this Program until the day before the date when full payment of the outstanding amounts in respect of this Program is received; and
- (b) after the Tenure, interest shall continue to accrue on a daily basis on all outstanding balances on my CRC Account (whether pursuant to this Program or otherwise) at the prevailing interest rate until the day before the date when such full payment of such outstanding balances is received.
- If I default on any payments due to Citibank or if the current balance on my CRC Account exceeds the permanent credit line assigned for my CRC Account or if I am in breach of any of my obligations to Citibank, the BT interest rate will cease to apply, and all outstanding balances in my CRC Account (whether pursuant to the Program or otherwise) will be charged interest at the prevailing interest rate on a daily basis until the day before the date when full payment of all outstanding balances is received.
- Citibank in its absolute discretion is entitled to apply and appropriate all payments received in such manner or order of priority as it deems fit, notwithstanding any specific appropriation of such sums from me or any third party. Without prejudice to the generality of the foregoing, Citibank may apply payments received in the following order of priority:-
- (a) all unpaid interest and fees pursuant to any Citibank Ready Credit PayLite programs;
- (b) all unpaid principal pursuant to any Citibank Ready Credit PayLite programs;
- (c) all other unpaid interests, fees and charges;
- (d) all unpaid principal pursuant to any Citibank balance transfer programs (subject to Clause 15);
- (e) all unpaid transactions effected by way of drawing CRC cheques, or by using my Citibank Ready Credit Card and/orATM/Debit Card or via GIRO; and
- (f) all unpaid transactions effected via Citibank direct debit banking system.
- Payments made to my CRC Account will reduce the amount transferred pursuant to the last effected balance transfer program (after it has been reflected in my statement of account) before reducing any balances transferred pursuant to previous balance transfer programs.
- If I have signed up for CreditShield previously on my CRC Account, please note that the prevailing CreditShield premium rate would be computed based on your current and outstanding balances which includes any outstanding and unbilled instalment principal and interest as reflected in the relevant Statement of Account for this CRC Account. CreditShield is an insurance plan underwritten by Manulife (Singapore) Pte. Ltd. (Reg No. 198002116D). For more information on CreditShield, please visit http://www.citibank.com.sg/creditshield.
- I acknowledge that my application to participate in this Program will take time to process. I will continue to observe my payment obligations for my other bank account(s). I will not hold Citibank liable for any interest or any overdue payment or any other finance charges or any other fees, costs, charges and damages incurred whatsoever as a result of my failure or delay in making such payment.
- Without prejudice to the generality of the foregoing, where Citibank is a member of, or subscriber for the information sharing services of, any credit bureau recognised by the Monetary Authority of Singapore (“MAS”) under or pursuant to the Banking Act (Chapter 19), I expressly authorise:
- (a) Citibank to transfer and disclose to any such credit bureau; and
- (b) any such bureau to transfer and disclose to any fellow member or subscriber as may be recognised as such by MAS,
any information relating to me and/or my CRC Account and/or any of my account(s) with Citibank (and for such purposes) as may be permitted under or pursuant to the Banking Act (Chapter 19).
- Citibank’s decision on all matters relating to this Instruction shall be final and binding.
Lender Details
Citibank Singapore Ltd is a wholly-owned subsidiary of Citigroup, one of the world’s largest financial services organisations. By combining local expertise with the strength of Citibank’s worldwide consumer banking network, we offer some of the world’s leading range of financial services including deposit accounts, foreign currency deposits and investments as well as credit cards, mortgages, insurance and charge cards.
Citigroup Inc.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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