[fred_1]

Is there any catch / admin charges by citibank?

[IceShelterX]

0% installment interest means
1. There is processing fees which likely 6%
2. Repayment within 6-12 months
3. 3% repayment required each month or interest + late payment incurred

[Aleksandr]

Actually I thought its 6 or 12 monthly installments?
Purchase price + interest + processing fee /12 = One instalment

[gigigigi]

I think depends on the store also. CErtain store already have prior arrangement witch citibank, hence can offer longer payment period and no processing fee. Of course most probably margin is already so high that merchant can absorb processing fee with no problem.

I bought some jewelry for my wife from SK, I put it to 24 month installment. Monthy installment = price/24.

[5kyb1ue]

Previously I had renewed my car insurance using citibank 6 month installment. Left 2 months. Intend to settle full payment but was told by CSO that I need to pay penalty of $100 for early settlement. Anyone has encountered this before?

[Cloud_Evolution]

citibank always got penalty for full settlement for installment. i encountered this for my stupid school loan.

[hclee01]

Most banks will charge penalty for early settlement of the instalment plan. This is indicated in their Terms & Conditions:

http://www.citibank.com.sg/SGGCB/APP...i_plan_tnc.htm

8. In the event that you voluntarily close your card account or terminate the FPP transaction, an administrative fee of S$100 (or such other amount as we may from time to time in our discretion determine and notify to you) will be levied for the processing of such accelerated repayment. Such fee will be payable regardless of subsequent revocation of such repayment or your failure to make full repayment and will not be refundable.

[5kyb1ue]

No money pay subject to the late payment changes. Got money to settle full have to pay additional $100 early settlement. really wonder why they have such T&C? but strange CSO say if I cancel my CC, no need to pay the $100.

[HmMmMm]

just a quick question before i apply for ocbc easicredit

let say i withdraw $200 from my easicredit account using the atm card, will i be charge interest straight away? or if i can repay this amt when it reflect on my bill, i will not be charge interest?

[IceShelterX]

HmMmMm wrote:

just a quick question before i apply for ocbc easicredit

let say i withdraw $200 from my easicredit account using the atm card, will i be charge interest straight away? or if i can repay this amt when it reflect on my bill, i will not be charge interest?

The interest is charged on daily basis.
the amount reflect on your bills only is the interest incurred up to billing date (when bill generated from their system); not up to when you pay the bill. So even after full payment; your next month bill will still come with some little interest charges.