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What is the Equated Installment Plan & how can I avail this? |
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EIP(Equal Installment Plan) is a new payment feature on the Citibank Credit Card through which cardmembers will now be able to pay for big-ticket retail purchases through an easy installment-based payment plan on their card. If you are a Citibank customer, you will be able to avail this facility. |
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Am I required to make purchases at selected merchant outlets? |
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All purchases at any merchant accepting Citibank Visa card will enable you to take advantage of EIP facility. |
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What is a high value purchase & is there a minimum purchase amount to avail the EIP facility? |
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By high value purchase we mean any purchase that is equal to BD 50/- or more. This is the minimum amount of purchase that needs to be made with the Citibank Credit card to avail the EIP facility. |
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Do I have a choice for the installments? |
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Yes. You can choose from 3, 6, 12, 18, 24 or 36 months as your repayment period for the purchase transaction you wish to pay in installments under the EIP program. |
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Do I have to fill any forms or make a downpayment to avail EIP facility? |
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There are no forms to be filled & no down payment to be made to avail EIP facility. |
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Will I be paying more interest for EIP facility? |
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No. You pay an interest rate of 1.1% per month. |
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How do I transfer my high value purchase transaction to installments under EIP? |
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It's simple. Just call our 24-Hour CitiPhone Service on 17582484 (CITI) soon after your purchase & instruct our Customer Service Officer to transfer the purchase transaction to installments under the EIP Program. Your request is processed online by the CitiPhone Officer. |
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Do I have to pay any administrative fees or are there any hidden cost? |
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There are no administrative fees & hidden cost to the EIP Program. |
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Can I choose to repay the pending installments all together in advance? |
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Yes, you can choose to repay the amount charged to the EIP program in advance. Nevertheless, you would need to pay a pre-payment fee of BD 10/-. |
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How will I know that my purchase transaction has been transferred to EIP Program? |
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There are two ways of confirming your transaction. Either you can call our CitiPhone Service on 1758 2484(CITI) or see the same in you monthly bill. |
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Can I have multiple installments transaction on my Citibank Credit card? |
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Yes, you can have multiple number of transactions on installments under the EIP Program provided that the transactions fall within the available credit limit on your Citibank Credit Card. |
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Can I have purchase transaction made abroad on the EIP Program? |
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Yes you can convert all retail purchases above BD50/- or more in equivalent in foreign currency as well to EIP. |
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Do I earn Citi$ points when I transfer my purchase transaction to the EIP Program? |
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Yes, you earn CitiDollar points on the principal portion of the installment. |
