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

Citibank Credit Card EMI

If paying the monthly bills of your Citibank credit card is a difficult task for you, Citibank has come up with its unique PayLite Program that among other benefits, allows you to convert your credit card outstanding amount into smoothly manageable monthly instalments.

Not only this, the PayLite Program offers you financial independence by enabling you to convert all your purchases above Rs.2,500 which you make with your Citibank credit card into easy EMIs. You can also opt for an instant loan under the same program.

Furthermore, to make it simpler, you don't have to go through any paperwork and there's also no process delays to make matters complex for you. Just sign-up for PayLite Program and avail any one or all the three unique features that it offers. These features are accompanied by low rates of interest, thus cutting down your hassles of paying huge credit card bills.

Types Of Citibank Credit Card Emi Facilities

Citibank, under its PayLite Program, offers 3 distinct credit card EMI facilities that you could avail as per your requirement - Balance Conversion, Purchase Conversion, and Instant Loan. All the three have features that come with their own set of benefits and offers.

Citibank Credit Card Balance Conversion

The credit card balance conversion feature allows you to convert the outstanding amount on your Citibank Credit Card into easy EMIs and enjoy a lower interest rate. Along with the high rates of interest, you also get rid of service fee while enjoying the luxury of paying small monthly amounts.

Fees And Charges On Balance Conversion

Rate of interest

Anywhere between 18% and 24% reducing per annum, depending on various factors.

Processing fee

Rs.300 or 2.5% of the loan amount availed (whichever is higher)

Pre-closure penalty

3% of the outstanding principal amount

How To Opt For Citibank Credit Card Balance Conversion Facility?

To opt for the Citibank Credit Card Balance Conversion facility.

  1. Just visit www.online.citibank.co.in/portal/newgen/cards/tab/finish-it.htm
  2. Fill in the form at the bottom of the page with your personal details like name, Citibank credit card number, and mobile number.
  3. Click on 'Submit'.

Once you submit the details, you will be contacted by a Citibank representative who will help you to avail the facility. Alternatively, you can call 24X7 CitiPhone banking at 1860 210 2484 or +91 22 4955 2484 (for people calling from outside of India).

Citibank Credit Card Purchase Conversion

The Purchase Conversion facility allows you to convert any of your credit card purchases above Rs.2,500 into convenient EMIs through a click of your computer mouse, a phone call, or the Citi Mobile. You can opt for the repayment plan that is most convenient for you. Furthermore, there's a lot of savings in the form of low-interest rates and service charges.

Fees And Charges On Citibank Credit Card Purchase Conversion

Rate of interest

24% reducing per annum, depending on various factors.

Processing fee

Rs.200 or 2.5% of the purchase conversion amount (whichever is higher)

Preclosure penalty

3% of the outstanding purchase amount.

How To Opt For The Citibank Credit Card Purchase Conversion Facility?

To check your eligibility for this feature, login to your Citibank net banking account on Citi Mobile or Citibank Online using your Citibank user ID and IPIN. If you are eligible, you need no documentation to avail the feature. Alternatively, you can call 24*7 CitiPhone banking at 1860 210 2484 or +91 22 4955 2484 (for people calling from outside of India).

Citibank Credit Card Instant Loan

The third feature of the PayLite Program is the Instant Loan, a facility that allows you to avail a loan against the cash or credit limit of your credit card. The process is impressively simple and can be carried out with a phone call or a click of your computer mouse. Moreover, depending on your credit history and a few other factors, you can get a loan that is higher than your credit limit. You also get enough flexibility to repay the loan as you can opt for a repayment period of 6, 12, 24, 36, or 48 months. You will receive your draft of the loan within 3 working days of its approval.

Fees And Charges On Loans Against Citibank Credit Card

Rate of interest

Anywhere between 12% to 22% reducing per annum, depending on various factors.

Processing fee

Rs.300 or 2.5% of the loan amount availed (whichever is higher)

Preclosure penalty

3% of the outstanding principal amount.

How To Opt For The Citibank Credit Card Instant Loan Facility?

To check your eligibility for this feature, login to your Citibank internet banking account on Citi Mobile or Citibank Online using your Citibank user ID and IPIN. If you are eligible for the loan, you need no documentation to book it.

Alternatively,visit www.online.citibank.co.in/portal/newgen/cards/emi/loanurcard.html, and enter your personal and card details under the 'Loan On Call' option. Then select 'Call Me' and you will be instantly contacted by a Citibank representative for discussing the loan details with you. This service is available from Monday to Saturday (10:00 a.m. to 6:30 p.m.) and isn't available on major public and national holidays.

Faqs On Citibank Credit Card Emi

  1. What's the highest purchase amount that can be converted into EMI?

    The highest amount that can be converted into EMI is Rs.1.5 lakh.

  2. What's the maximum number of transactions that can be converted into EMI?

    The maximum number of transactions that can be converted into EMI is 10.

  3. Can I convert my purchases into EMIs at the merchant location (point of sale) itself?

    Yes, you can convert your purchases at the merchant location at select merchant outlets. These conversions are called Merchant EMI transactions. For carrying out the conversion, interest is charged on the monthly reducing balance and it would be informed to you at the time of making the purchase. You can opt for merchant EMI conversion on the transactions through your Citibank credit card at select merchant outlets.

  4. How do I pre-close a 'Merchant EMI' transaction?

    To pre-close a 'Merchant EMI' transaction, please contact Citibank at 1860 210 2484 or +91 22 4955 2484 (for people calling from outside of India).

  5. What are the costs and charges for converting my purchases into EMIs at the merchant location?

    The rate of interest depends on the EMI tenures and would be anywhere between 13% and 15% reducing per annum. There is no processing fee and no pre-closure fee involved in Merchant EMI transactions. However, GST will be levied on interest component of the EMIs and also on all fees and other charges.

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