Citibank Interest Free Installment Payment Plan

Citi offers two interest-free instalment plans to help you convert your high-value retail purchases into small, manageable instalment payments, free of cost, and stretch every dollar you spend.

This helps you have more disposable cash in your account for your other necessities in life. The options available are:

  • Equal Payment Plan
  • Paywise

Key Features and Benefits

Equal Payment Plan

  • Instalment payments are flexible.
  • More than 1,000 merchants offer this plan.
  • Application process is easy and convenient.
  • Payment can be spread over 24 equal instalments.
  • No interest is charged if the instalment is paid in full by due date.


  • It helps you manage your purchases better.
  • It helps you enjoy more liquidity.
  • It helps you reduce your cost burden and get bang for the buck.
  • Payment can be made over 6 monthly instalments.
  • A low one-time processing fee and EIR applies.

How It Works

How the Instalments Are Split

Equal Payment Plan (EPP)

You can opt for this plan only if the value of your purchase is more or equal to the minimum amount as decided and notified by the bank from time to time.

Let us assume that you have purchased a dress worth S$1,200 from one of the participating merchants. If you decide to split the payments over 24 instalments using the EPP, you’ll have to pay S$50 per month within the due date mentioned on your card statement.

However, the amount may turn out to be higher if the bank levies a one-time processing fee and other fees. This would mean that actual interest rate (EIR) would be higher than the advertised rate of 0%. Check with the bank or the merchant for these details before you sign up for the plan.


  • You can opt for this plan only if the purchase amount is at least S$500.
  • An upfront processing fee of 5% would apply.
  • An EIR of 25.18% p.a. would apply.

Let us assume that you have bought an item worth S$1,200. With Paywise, you can split your payment over 6 monthly instalments, which means that you will be paying S$200 per month.

Since a processing fee of 5% has to be paid upfront, your payment for the first instalment would be S$(200+5/100x1,200) =S$260.

If you make payments on time, no other charge would be imposed. However, if you fail to do so, an EIR of 25.18% p.a., late payment fees as decided by the bank, and other charges might apply.

Note: The numbers used here are for representation purposes only. Check with your bank for actual the numbers.

How the Instalments Have to Be Repaid

  • As soon as you opt for one of these interest-free instalment plans, a portion of your credit limit, equal to the total purchase value, gets blocked.
  • The instalments will be reflected in your monthly statement.
  • With every successful instalment payment, a portion of the credit limit of citi card will get restored.
  • No reward points will be awarded for such payments.
  • Your payment per instalment would depend on your chosen repayment tenure. Check with the merchant for the specifics when signing up.
  • The tenure and instalment once locked can’t be altered.
  • You’ll be obligated to pay under any of these plans in accordance with the terms and conditions of the cardholder’s agreement.
  • If you don’t pay on time, interest would be charged at a higher rate. Other penalties may also be levied. The bank also reserves the right to cancel your plan.

Interest Rates

The EPP and Paywise plans are 0% interest plans. However, for Paywise, a one-time processing fee and an EIR at 25.18% p.a. would apply.

Get in touch with the bank to check for the actual interest rate and fees for EPP.

Fees and Charges

The following fees may apply on your chosen plan, depending on the value of your purchase and the tenure.

  • One-time processing fee.
  • Early redemption fee.
  • Late payment fee.

Contact your bank for more information.

How to Apply


  • Fill in the relevant fields on the bank’s website.
  • Details required include your name, contact details and NRIC/Passport number.
  • Check the box which specifies that you have read and understood the terms and conditions.
  • Submit the details online.
  • The bank will get in touch with you.

Equal Payment Plan (EPP)

  • Check for a display sign saying “interest-free instalment with Citi credit cards”.
  • Check with a store to see whether it is a part of this plan or not.
  • Also, keep a watch for different Citi promotions and information in relation to this plan propagated through different public forums and media.
  • You can opt for this plan directly at a merchant counter during payment.
  • If you decide to join this plan after your payment has been processed, you’ll have to request the merchant to reverse the transaction and help you sign up for this plan.
  • Charge the transaction to your Citi credit card to start the plan.
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