Santa Claus comes around just once a year. In the meantime, there are Credit Cards.

    Citibank, founded in 1812, offers a wide range of products to its customers, including credit cards. The CitiPay Lite is a new name given to the provision of ‘Dial/Click-an-EMI' Installment Program which was among the major benefits of holding a credit card.

    With the help of the Citi PayLite provision, cardholders can convert their purchases made with their credit card to EMIs. With the help of this program, any purchase which amounts to more than Rs.2,500 can be converted into an EMI scheme.

    Steps to Convert Transactions to EMI using Citi PayLite

    To convert various transactions to EMI purchases on the Citi Mobile Application, here are the steps to be followed:

    Step 1: Choose the option of ‘Convert credit card transactions to EMI’.

    Step 2: Check the eligible transactions from the list.

    Step 3: Select the purchase you wish to convert into an EMI purchase.

    Step 4: Choose the tenure range.

    Step 5: Once done, the selected purchase will be converted into an EMI transaction.

    Charges to Use Citi PayLite

    To book PayLite, Citibank charges a one-time transaction fee of 2.5% or the converted transaction or Rs.200 (whichever is higher). This fee will be charged for every purchase converted into an EMI. Along with this, GST will also be added on the applicable interest rate of the EMI repayment facility.

    Citibank will allow you preclose your loans as there is no fixed lock-in period. However, a prepayment fee of 3% will be charged on the unpaid principal amount along with taxes applicable.

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