Transaction Instalment Plan

An instalment plan is defined in the Credit Card Terms and Conditions and Other Important Information as a Fixed Payment Option (FPO). Your instalment plan offers are subject to eligibility and only available if your account is and remains in good standing (for example - your account is not in default, suspended or closed). Your instalment plan uses part of your existing credit limit. As you pay off your instalment plan, the amount you pay off will become available for you to use again as part of your credit limit at the standard annual percentage rate (APR) applicable to your account.

A fee may apply to set up an instalment plan.

During the cycle in which an instalment plan is set up, you will be charged an initial interest charge which will be included in the minimum payment due on your next statement (not applicable if the FPO APR is 0%). Subsequent statements will include an instalment for each month of the term.

While you have an instalment plan, payments will be applied to your initial interest charge or monthly instalment before all other balances, even if they attract a higher rate of interest.

If you fail to pay the minimum payment due or any other amount by its payment due date, we charge interest on any unpaid instalment, FPO fee or initial interest charge component (and any interest calculated on any of them, and any interest on that interest) from the day after the payment due date. It will be calculated using the daily retail rate and the daily calculation method until they are repaid in full. We may also cancel the instalment plan(s).

We will tell you if an instalment plan amount is overdue before we cancel the instalment plan(s). If your instalment plan is cancelled, the full outstanding balance of your instalment plan will revert to retail purchase interest rate (for Statement Instalment Plan and Transaction Instalment Plan) and the cash advance rate (for Cash Instalment Plan).

For the full terms and conditions that apply to instalment plans, please refer to the Credit Card Terms and Conditions and Other Important Information.

National Australia Bank Limited (ABN 12 004 044 937, AFSL and Australian Credit Licence 230686) ("NAB") is the credit provider and issuer of Citi branded credit products. NAB has acquired the business relating to these products from Citigroup Pty Limited (ABN 88 004 325 080, AFSL and Australian Credit Licence 238098) ("Citi") and has appointed Citi to provide transitional services.

"Citi", "Citibank", "Citigroup", the Arc design and all similar trade marks and derivations thereof are used temporarily under licence by NAB from Citigroup Inc. and related group entities.

Citi instalment plan is defined in the Unsecured Credit Terms and Conditions and Other Important Information as a Fixed Payment Option. Fixed Payment Option offers are subject to eligibility and only available if your account is and remains in good standing (for example – your account is not in default, suspended or closed). Your Fixed Payment Option uses part of your existing credit limit. As you pay off your Fixed Payment Option, the amount you pay off will become available for you to use again as part of your credit limit at the standard Annual Percentage Rate (APR) applicable to your account.

A fee may apply to set up a Fixed Payment Option.

During the cycle in which a Fixed Payment Option is set up, you will be charged an initial interest charge which will be included in the Minimum Payment Due on your next statement (not applicable if the FPO APR is 0%). Subsequent statements will include an instalment for each month of the term.

if you request a Citi FlexiBill instalment plan, we will convert the retail purchases included in the closing balance from your latest statement first, before converting any cash advances. We may limit the amount that can converted to Citi FlexiBill.

While you have a Fixed Payment Option, payments will be applied to your initial interest charge or monthly instalment before all other balances, even if they attract a higher rate of interest.

If you fail to pay the minimum payment due or any other amount by its payment due date, we charge interest on any unpaid instalment, instalment fee or initial interest charge component (and any interest calculated on any of them, and any interest on that interest) from the day after the payment due date. It will be calculated using the daily retail rate and the daily calculation method until they are repaid in full. We may also cancel the instalment plan. We will tell you if an FPO amount is overdue before we cancel the FPO. If your Fixed Payment Option is cancelled, the outstanding balance of your Fixed Payment Option will revert to the APR applicable for retail purchases for Citi PayLite and Citi FlexiBill and the APR applicable for cash advances for Citi Quick Cash.

For the full terms and conditions that apply to Fixed Payment Options, please refer to the  Unsecured Credit Terms and Conditions and Other Important Information.