Loan Details

1. You agree that your participation in our Paywise program (“Paywise”) will be governed by these terms and conditions (”Terms”), and any other rules, procedures or instructions which we, Citibank Singapore Limited (“Citibank”), may from time to time issue.
2. You will also continue to be bound by the Citibank Cardmember’s Agreement applicable to your Citibank Credit Card and all terms and references used, defined or construed therein and in our materials shall have the same meanings and construction in these Terms. Accordingly, you will still be required to pay the interest, charges and fees provided for in the relevant Citibank Cardmember’s Agreement.
3. The transaction amount (“Paywise Transaction Amount”) set out in your Paywise Application is subject to your Citibank Credit Card account being in good standing as Citibank may determine in its absolute discretion and is subject to review and approval by Citibank.
4. Approval of your Paywise application is subject to our discretion. Citibank is entitled to reject this Paywise application without providing any reason.
5. Approval of your application is also subject to, amongst other things, the following conditions:
   • (a)  Your Paywise Transaction Amount must be for an amount not less than the minimum transaction amount, as prescribed byCitibank from time to time;
   • (b)  The available combined credit limit in your Citibank Credit Card account(s), excluding any temporary credit line increase, mustbe sufficient to cover the Paywise Transaction Amount;
   • (c)  You must not be in breach of any Citibank Cardmember’s Agreement; and
   • (d)  Your Citibank Credit Card account(s) outstanding balance not exceeding 90% of the permanent combined credit limit of all yourCitibank Credit Card account(s).
6. The Paywise Transaction Amount shall be repaid by way of equal monthly instalments over a tenor of either 6 or 12 months (each an”Approved Instalment” and collectively the “Approved Instalments”). We have the discretion to vary the tenor and/or the amount ofeach Approved Instalment without notice to you.
7. A one-time service fee equivalent to 4.5% (for Paywise transactions repayable over 6 months) or 10% (for Paywise transactionsrepayable over 12 months) of your Paywise Transaction Amount (or such other amount as we may determine in our discretion) will be charged upfront upon approval of each Paywise transaction. The effective interest rate is 22.55% p.a. for 6 months and 23.72% p.a. for 12 months. The Approved Instalment (instalment amount and tenor) and service fee may be varied at our discretion without notice to you. The service fee will be subject to interest charges at Citibank’s prevailing rate if it is not paid in full by the relevant payment due date.
8. Your available combined credit limit will be progressively restored by an amount equivalent to each Approved Instalment as each Approved Instalment is paid and to the extent that actual payment is received by us.
9. If you have an existing GIRO arrangement to pay the outstanding balance reflected in your Statement of Account in full, the full amount of the current balance for your Citibank Credit Card Account (including the Paywise Transaction Amount set out in this Paywise Application) or the minimum amount due, as the case maybe, as reflected in your Statement of Account issued immediately before the date of your Paywise instruction, will be paid via GIRO on the relevant payment due date. You accept that in this case, reversal of the Paywise Transaction Amount earlier paid in full by GIRO and your first Approved Instalment will be reflected only in the next statement cycle.
10. Paywise applications must be made no later than 14 days from the date of your monthly statement of account (“Statement of Account”) for your Citibank Credit Card(s).
11. Paywise is not applicable for any Cash Advance, Balance Transfer, Citibank Equal Payment Plan and Quick Cash transactions and such other promotions and transactions as Citibank may determine. Paywise transactions will not earn any rewards under Citibank’s loyalty programmes.
12. Without prejudice to any of our other rights under any Cardmember’s Agreement, Citibank shall be entitled to demand immediate repayment of all outstanding sums owed under the Paywise transaction upon the occurrence of any one or more of the following events:-
    • (a)  you are in breach of any of these Terms or any provision of any Cardmember’s Agreement;
    • (b)  you default in the payment of any sums due under these Terms or any Cardmember’s Agreement;
    • (c)  Citibank terminates or suspends your Credit Card account used for Paywise;
    • (d)  you terminate your Credit Card account used for Paywise;
    • (e)  you terminate this Paywise transaction;
    • (f)  your death, bankruptcy or other legal disability; or
    • (g)  any provision herein is held by any judicial or competent authority to be void, voidable or otherwise unenforceable.

    The outstanding amount will be reflected as a charge in your Statement of Account and shall be payable by you in accordance with the terms of the relevant Citibank Cardmember’s Agreement.

13. If full payment of the minimum payment amount stated in your monthly Citibank Credit Card Statement of Account is not received by the payment due date, the relevant late charges shall apply and all your transactions listed in that statement (including the relevant Approved Instalment) would be subject to the then prevailing card interest rate.
14. Each Approved Instalment will be reflected in your Statement of Account as a normal charge to your Citibank Credit Card account and be payable by you in accordance with the terms of the relevant Citibank Cardmember’s Agreement. If we do not receive payment from you by the payment due date of the minimum amount billed for 2 consecutive months, this Paywise program will be terminated and any outstanding balance will be billed to you in your upcoming statement.
15. If we do not receive payment from you by the payment due date of the minimum amount billed for 2 consecutive months, this Paywise program will be terminated and any outstanding balance will be billed to you in your upcoming statement.
16. If you have signed up for CreditShield/ CreditShield Gold previously on your Credit Card Account, please note that the prevailing CreditShield/ CreditShield Gold premium rate would apply to the outstanding balance (current balance and outstanding instalment amounts) as reflected in the relevant Statement of Account for your Credit Card Account. CreditShield/ CreditShield Gold is an insurance plan underwritten by Manulife (Singapore) Pte. Ltd. (Reg No. 198002116D). For more information on CreditShield/ CreditShield Gold, please visit http://www.citibank.com.sg/creditshield.
17. Citibank exercises no control and is not liable for any Paywise Applications not successfully submitted due to disruption in this service regardless of the cause of disruption.
18. Citibank reserves the right at our absolute discretion to terminate Paywise or vary, delete, add to or in any way amend these Terms in its discretion from time to time without notice.
19. Our decision on all matters relating to Paywise shall be final and no correspondence shall be entertained.

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.