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FAQ on Citibank Repayment Assistance Program

Updated as of 22 January 2021

Please check here regularly for the latest updates.

This program is open to all Citi customers who are not in B40, M40 group and microenterprises.

If you are a B40/M40/Microenterprise customer, please refer to Expanded Targeted Repayment Assistance Program.

Table of contents:

1. Repayment Assistance Program for Loans/Financing

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No Question Answer

Repayment Assistance Program for Loans/Financing

1 What options are available under this Repayment Assistance Program?

The following Repayment Assistance programs are available, subject to the affected customers’ financial circumstances and submission of appropriate documentary evidence:

Important Notes:- 1) For Program 1, the same terms and conditions will apply as those loan/

financing accounts offered under the Citibank Deferment Program (effective on 1 Apr 2020).

2) The following loan/financing products are not eligible for Program 2:

Citibank Home Financing-i

Amortizing Revolving Mortgage & Overdraft Loans

Citibank Ready Credit 3) For joint borrower(s) loan/ financing account, in the event either one of the

borrower has become unemployed / has a reduction in their income they can opt for the above program.

4) Both programs are not applicable to Credit Cards. If you require assistance on your credit card debt, please contact us for options.

5) Please note that interest/ rental/ profit will be charged and accrued but will not be compounded for Program 1. The same will also apply to all applicable Citi Instalment Loans and Unsecured Term Loans products and Citibank Home Partner-i with exception to Mortgage Loan (non-Islamic) products under Program 2 where interest will be compounded in the event customer do not pay their monthly interest due. As a result, the interest cost/ finance charges payable during the tenure of your loan/ financing will be higher.

Program Eligibility Repayment Assistance Program

1 Individuals who became unemployed, and remain unemployed at time of application

Extension of 3 months deferment program

2 Individuals whose incomes are reduced due to COVID-19

Citi Instalment Loans and Unsecured Term Loans Reduction of monthly loan instalment by 50% for a period of 6 months Mortgage Loan/Financing products Interest/ Rental payment only for a period of 6 months and/ or loan/ financing tenure extension

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2 Who is eligible under this Repayment Assistance Program?

The Repayment Assistance Program is open to individuals who are affected by the following:

Job/business income loss

Individual income reduction Note: For account currently enrolled under AKPK Debt Management Program, you are advised to contact AKPK for further assistance. If you are a B40 customer / M40 customer / Microenterprise, please submit your application for the Expanded Targeted Repayment Assistance Program here. Or refer to here for the FAQ on Citibank Expanded Targeted Repayment Assistance Program for more details

3 Which Citi loan/ financing products qualify for the Repayment Assistance Program?

The Repayment Assistance Program is available for the following products:

Citibank Mortgage Products (Residential Loan/ Financing and Commercial Property Loan) and Overdraft Loans

Conventional Term Loan Citibank Housing Loan Citibank FlexiHome Loan Citibank ShopHouseLoan

Islamic Home Financing Citibank Home Partner-i Citibank Home Financing-i (only Program 1)

Amortizing Revolving Mortgage & Overdraft Loans

Citibank Homecredit 1 Citibank Homecredit 2 Citibank Mortgage Power 1 Citibank Mortgage Power 2 Citibank Business Power Citibank Overdraft against Time Deposit (ODTD)

Citibank Instalment Loans (also known as Citi Personal Loans)

Citibank Unsecured Term Loans

Citibank Ready Credit (only Program 1) Please note that the eligibility of the program on the abovementioned product differs. Refer to Q1 for details.

4 Will I still be eligible if I was enrolled in automatic deferment program (Moratorium)?

Yes, if you were enrolled in the automatic deferment program, you remain eligible for the Repayment Assistance Program if you have met the eligibility criteria and your facility is not in arrears exceeding 90 days as at the date of application. However, you are required to enroll for Repayment Assistance Program not later than 30 June 2021 to be eligible.

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Kindly refer to Q5 on methods of how to opt-in.

5 How do I apply for the Repayment Assistance program?

You may opt-in for the Repayment Assistance Program via the below options: 1) Initiate the Repayment Assistance Program request via www.citi.asia/RR. 2) You may call Citibank Contact Centre from 8.00 a.m. to 10.00 p.m.

6 When is the last date of the application for this Repayment Assistance Program?

To ensure you are promptly enrolled into the program, please ensure any application is received by us prior to 30 June 2021.

7 What are the documents required for the Repayment Assistance Program application?

The required documents are as follows:-

Program

Post Moratorium Repayment Assistance Program

Documents Required

1 Extension of 3 months deferment program

Salaried Individual

Letter from employer/termination letter

Latest EPF statement Self-employed

Latest 3 months bank statement and minimum 1 month bank statement between Jan 2020 to Mar 2020

2 Citi Instalment Loans and Unsecured Term Loans Reduction of loan instalment by 50% Mortgage Loan/Financing products Interest/ Rental payment only for a period of 6 months and/ or loan/ financing tenure extension

Salaried Individual

Letter from employer (confirming reduction); or

Latest salary slip + Previous salary slip pre-salary reduction; or

Latest EPF statement Self-employed

Latest 3 months bank statement and minimum 1 month bank statement between Jan 2020 to Mar 2020

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8 How do I check on my application status?

You will receive a SMS stating that your application have been successful and your specific loan/ financing product that has been enrolled. Please ensure you update your registered mobile details with the bank.

9 If I do not fall under any of the eligibility criteria specified above, can I still apply for the Repayment Assistance Program?

No, however if you are facing difficulties in servicing your monthly commitment, please reach out to us to discuss on other repayment assistance options.

10 Can I request the length of Repayment Assistance Program to be longer than the period stipulated in the options available above?

No, the allowable period is fixed at 3 months (for Program 1) and 6 months (for Program 2).

11 Will the extra payment made into my Mortgage loan/ financing account for the purpose of interest/ rental payment be treated as pay-ahead (i.e. used to fulfill my future interest/ rental payment)?

No. If your Mortgage loan/ financing account is approved for interest/ rental payment only for a period of 6 months, any extra payment made into your loan/ financing account during the program period will be used to reduce your principal outstanding balance.

12 For Program 2 (i.e. Interest/ Rental payment only for a period of 6 months and/ or loan/ financing tenure extension), how will my interest/ rental be computed?

Your interest/ rental payment amount will be pre-determined based on the below formula: [Loan/ Financing outstanding balance] x [Prevailing Interest/ Financing Rate Rate] x [Number of days in a month (i.e. 31 days)] / [Number of days in a year (i.e. 365 days)] Note:

The above amount may differ from the debit interest reflected in your statement. Any extra payment made into your loan/ financing account during the program period will be used to reduce your principal outstanding balance.

In the event there is BR/ BLR/ BFR change or insurance/ other fees debited into the loan/ financing account during the program period, interest/ rental will be recomputed accordingly.

For monthly interest that is paid after the payment due date, interest outstanding will be added into the loan for re-computation of the next month interest due. (This is not applicable to Citibank Home Partner-i product).

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13 Can a bankrupt individual apply for the Repayment Assistance Program?

No, individuals under this category is not eligible for the Post Moratorium Repayment Assistance Program.

14 If I apply and enroll for the Repayment Assistance Program, would this impact my CCRIS record adversely?

Your CCRIS record will not adversely affected and/or classified as restructuring/ rescheduling (R&R) if you enroll for the Repayment Assistance Program.

15 What would happen to my account during and by end of the Repayment Assistance Program?

Please refer to the details in table below for respective products

Mortgage Loan/Financing and Overdraft products

Category Applicable Products Extension of 3 Months Deferment Program

Interest/ Rental payment only for a period of 6 months and/ or loan/ financing tenure extension

Conventional Term Loan

Citibank Housing Loan

Citibank FlexiHome Loan

Citibank ShopHouse Loan

Upon expiry of the deferment program, your monthly loan installment amount will be revised upwards to include the deferred principal repayment and interest accrued during the deferment period.

Your revised repayment amount will be based on the principal amount deferred and interest accrued during the deferment period, current interest rate and remaining loan tenure.

Your loan tenure will not be increased/extended automatically. Please note that the consequential extension of tenure beyond the contractual loan tenure arising from the deferment program is allowed upon request and will result in higher interest cost/ finance charges arising from such extension.

Example: Refer to Appendix 1

Principal loan amount deferred during the 6 months will be added into the loan account for re-computation of monthly installment at the end of 6 months (in this case the monthly installment will be revised upwards after 6 months) based on your remaining loan tenure.

In the event there is BR/ BLR/ BFR change or insurance/ other fees debited into the loan, during the program period, interest will be recomputed accordingly.

Your loan tenure will not be increased/extended automatically. Please note that the consequential extension of tenure beyond the maximum loan tenure arising from the deferment program is allowed upon request and will result in higher interest cost/ finance charges arising from such extension.

Example: Refer to Appendix 2

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Islamic Home Financing

Citibank Home Partner-i

Citibank Home Financing-i

All payments deferred during the deferment period will be made payable by you at the end of your financing tenure.

For Home Partner-i, in the event there is a change in the Base Rate (BR)/ Base Financing Rate (BFR) or Takaful fee debited into your account (if applicable), your monthly payment will be revised to include the principal amount deferred and rental accrued during the deferment period. (Note: This is not applicable to Home Financing-i as it is a fixed financing product repayment schedule.)

Your financing tenure will not be automatically increase. Please note that the consequential extension of tenure beyond the contractual financing tenure arising from the deferment program is allowed upon request and will result in higher interest cost/ finance charges arising from such extension (where applicable).

Example: Refer to Appendix 1

Principal financing amount deferred during the 6 months will be added into the financing account for re-computation of monthly payment at the end of 6 months (in this case the monthly payment will be revised upwards after 6 months) based on your remaining financing tenure.

In the event there is BR/ BLR/ BFR change or insurance/ other fees debited into the financing account during the program period, rental will be recomputed accordingly.

Your financing tenure will not be increased/ extended automatically. Please note that the consequential extension of tenure beyond the maximum financing tenure arising from the deferment program is allowed upon request and will result in higher interest cost/ finance charges arising from such extension.

Example: Refer to Appendix 2 Note: This option is not applicable for Citibank Home Financing-i product.

Amortizing Revolving Mortgage

Citibank Homecredit 2

Citibank Business Power

Upon expiry of the deferment period, the amount to be amortized during the deferment period will be readjusted based on the remaining loan tenure.

The monthly interest amount accrued during the deferment period will not be compounded, but will be added into the principal loan outstanding balance for re-computation of interest upon expiry of the deferment program.

The deferment applies to the usage amount within the approved line limit

Not applicable.

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as well as the balance in excess of the approved limit (if any) as at 1 April 2020 in view that the excess amount is contractually due for full repayment.

There is no change in the maturity date of your loan facility. Please note that the consequential extension of tenure beyond the contractual loan tenure arising from the deferment program is allowed upon request and will result in higher interest cost/ finance charges arising from such extension.

Example: Refer to Appendix 1

Overdraft Loans

Citibank Homecredit 1

Citibank Mortgage Power 1

Citibank Mortgage Power 2

Citibank Overdraft against Time Deposit (ODTD)

The deferment applies only to the balance in excess of the approved limit, as the excess amount is contractually due for full repayment.

The monthly interest amount accrued during the deferment period will not be compounded, but will be added into the principal loan outstanding balance for re-computation of interest upon expiry of the deferment period.

Upon expiry of the deferment period, any excess limit amount and the interest accrued during the deferment period will be payable as a lump-sum payment.

There is no change in your loan tenure. Please note that the consequential extension of tenure beyond the contractual loan tenure arising from the deferment program is allowed upon request and will result in higher interest cost/ finance charges arising from such extension.

Example: Refer to Appendix 1

Not applicable.

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Unsecured Personal /Term Loans/ Ready Credit products

Category Applicable Products

3 Months Deferment Program 50% monthly instalment for a period of 6 months

Unsecured Personal/ Term Loans

Instalment Personal Loan

Unsecured Term Loans

During the program duration, you do not need to pay any monthly instalments/payments for the Eligible Product under the Deferment Program

Interest will continue to be accrued at the original contracted rates, but will not be compounded. Please note that this will result in higher total interest cost/financial charges for your loan.

Upon expiry of the program, the interest accrued during the deferment period will be added into your loan outstanding balance.

Your monthly loan installment will resume and the monthly instalment amount will be remain the same

Your loan maturity date will be extended to accommodate for the unbilled instalment(s) and interest accrued during the deferment program.

The final amount due for last instalment may be lower than the monthly instalment amount. Any excess from the final payment will be refunded to you

Example: Refer to Appendix 1

During the program duration, your

monthly instalment is 50% of your original monthly instalment and you are expected to pay that amount

Interest will continue to be accrued on the principal amount deferred, but will not be compounded. Please note that this will result in higher total interest cost/financial charges for your loan.

Upon expiry of the program, your monthly loan installment will resume back to the original monthly instalment amount.

The interest accrued during the Repayment Assistance Program period will be billed and form part of the balances outstanding

Your loan maturity date will be extended to accommodate for the reduced monthly instalment and interest accrued during the deferment program.

The final amount due for last instalment may be lower than the monthly instalment amount. Any excess from the final payment will be refunded to you

Example: Refer to Appendix 3

Ready Credit Ready Credit

During the program duration, you do not need to pay payments for the Eligible Product under the Deferment Program.

Upon expiry of the program, the interest accrued during the deferment period will be included in your remaining outstanding balance and minimum monthly payments will resume. Please note that this will result in higher total interest cost/financial charges for your loan.

N/A

Appendix 1 – Example for Extension of 3 months deferment program

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Conventional Term Loan Citibank Housing Loan, Citibank FlexiHome Loan and Citibank ShopHouse Loan

Monthly Instalment Before Deferment Program Monthly Instalment After Deferment Program

RM2,170 RM2,250 (Your monthly instalment will increase by RM80)

Islamic Home Financing

Citibank Home Partner-i

Monthly Payment Before Deferment Program

Monthly Payment After Deferment Program

RM2,170 RM2,170* *Note: There will be no increase in your monthly payment. The rental accrued together with the principal amount deferred during the deferment period will be made payable by you at the end of the financing tenure – given that there is no rate change or Takaful fee debited into your account (if applicable) during the deferment period.

Citibank Home Financing-i

Monthly Payment Before Deferment Program

Monthly Payment After Deferment Program

RM2,170 RM2,170** **Note: There will be no increase in your monthly payment. Total profit accrued during the deferment period will be made payable by you at the end of the financing tenure together with the remaining principal amount. This is a fixed repayment schedule product.

The above illustrations are based on below assumptions:

Loan/ financing amount: RM 500,000

Interest rate: 3.20% p.a. (interest/ rental/ profit is not compounded during deferment period)

Original tenure: 30 years with remaining tenure of 29 years

Principal and interest/ rental/ profit payment deferred during deferment period

No extension of loan/ financing tenure after deferment period and the previous 6 months deferment program (interest/ rental/ profit) has not been added into the principal loan outstanding balance.

Note:

Base Rate/ Base Lending Rate/ Base Financing Rate as of 13 July 2020 is at 2.40% p.a. and 5.55%p.a. respectively.

Amortizing Revolving Mortgage

Interest Payment Before Deferment Program Interest Payment After Deferment Program

RM 14,690 RM12,000 (Savings of RM2,690)

Note: The interest payment before deferment program calculation is with the assumption that customer did not make any payment for a period of 9 months and the utilization amount is still within line limit.

The above illustration is based on below assumptions:

Line amount: RM1,000,000

Amount utilized: RM500,000

Interest rate: 3.20% p.a. (interest is not compounded during deferment period)

Interest payment deferred during deferment period.

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No extension of loan tenure after deferment period and the previous 6 months deferment program interest is not added into the principal loan outstanding balance.

Note:

Base Rate/ Base Lending Rate/ Base Financing Rate as of 13 July 2020 is at 2.40% p.a. and 5.55%p.a. respectively.

Overdraft Loans – Over limit (i.e. utilization balances in excess of the approved limit)

Loan Outstanding Balance Before Deferment Program (as at 1 April 2020)

Loan Outstanding Balance After Deferment Program

RM500,000 RM517,490 (The lump sum amount which is made payable by you in

December 2020 will be RM32,878 comprising of 9 months deferred interest and the over limit amount of RM20,000)

The above illustration is based on below assumptions:

Approved line limit: RM480,000

Loan Outstanding Balance (as at 1 April 2020): RM500,000 (with over limit amount of RM20,000)

Interest rate: 3.20%p.a. on approved line amount; 9.05%p.a. on over limit amount.

Interest payment will be deferred during deferment period.

No extension of loan tenure after deferment period. Note:

Base Rate/ Base Lending Rate/ Base Financing Rate as of 13 July 2020 is at 2.40% p.a. and 5.55%p.a. respectively.

Unsecured Personal/ Term Loans

Before Feb 2021 During the 3 month deferment period (Feb 2021 – Apr 2021)

After the deferment period (Apr 2021 – End of Loan Tenure)

RM498 RM0 RM498

The above illustration is based on assumptions of the following example:-

Outstanding loan amount of RM15,000 as at 1st February 2021, 12% EIR p.a., Original Loan tenure of 36 months

No repayments are made across the deferment period (from February to April 2021)

The interest accrued across the deferment period is based on the outstanding principal balance as at 1st February

2021, frozen for an additional 3 months. In this scenario, that would be RM15,000 x (12% / 12 months) x 3 months =

RM450

Your monthly loan installment will be remain the same and your loan maturity date will be further extended to

accommodate for the unbilled 3 month instalment and interest accrued during the deferment program. The accrued

interest is not compound across the remaining tenure of your loan

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Appendix 2 – Interest/ Rental payment only for a period of 6 months and/ or loan/ financing tenure extension

Estimated Monthly Interest Payment During Post Moratorium Repayment Assistance Program

RM1,340

Monthly Instalment After Post Moratorium Repayment Assistance program WITHOUT loan/ financing tenure

extension of 6 months

Monthly Instalment After Post Moratorium Repayment Assistance program WITH loan/ financing

tenure extension of 6 months

RM2,190 RM2,170

The above illustrations are based on below assumptions:

Loan/ financing amount: RM 500,000

Interest rate: 3.20% p.a.

Loan tenure: 30 years

Principal and interest/ rental payment deferred during deferment period Note:

Base Rate/ Base Lending Rate/ Base Financing Rate as of 13 July 2020 is at 2.40% p.a. and 5.55%p.a. respectively.

Appendix 3- Example for 50% Monthly instalment for 6 months

Before Feb 2021 During the 50% instalment period (Feb 2021 – Aug

2021)

After the offer duration period (Aug 2021 – End of

Loan Tenure)

RM498 RM 249 RM498

The above illustration is based on assumptions of the following example:-

Outstanding loan amount of RM15,000 as at 1st February 2021, 12% EIR p.a., Original Loan tenure of 36 months,

monthly instalment is RM498

During the program duration, the monthly instalment is RM 249 (50% of RM 498).

Upon expiry of the program, The monthly loan installment will resume back to the original monthly instalment amount

(RM 498).

The loan would continue to follow the loan schedule throughout the tenure, and the additional accrued interest

during the program duration would be based on 50% of the scheduled interest. In this scenario, that would be:

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Term Scheduled Interest as per original loan tenure (RM)

Accrued interest for the program duration (RM)

1 150 75

2 141 70

3 133 66

4 124 62

5 116 58

6 107 53

Your monthly loan installment will be remain the same and your loan maturity date will be extended to accommodate for

the reduced monthly instalment and interest accrued during the program period. The accrued interest is not compounded

across the remaining loan tenure.