CALVINCTY.COM

Every morning turn on the radio(My FM) has heard the advertisement from Maybank about their 0% Balance Transfer Programme, was not really encourage the message of the radio advertisement (the ad said: don’t bother about the outstanding in credit card, just transfer the outstanding to Maybank and you can continue to shop what you want to buy) but yet, it’s still a good plan if you have outstanding to settle without any interest charge.

I’m planning to transfer my Citibank Installment Plan for Ogawa massage chair which I purchased last few months during Mother’s day, was taking 36-months installment period using my Citibank credit card due to an extra discount of RM 100.

After few months was reliaezd 36 months installment is too long for me and I’m planning to call Citibank to waive for RM 50 government tax, if not approved, will thinking to cut the card since I’m not using much on that card also.

Thus, I’m calling to Citibank to cancel the installment plan of the Ogawa massage chair and transfer then balance to Maybank.

Anyway, let’s introduce a little bit about the plan.

So if you are taking a 12-months tenure BT application, the calculation is just divide your outstanding (Ex: RM 3000) into 12 months which is RM 250 and this is what you need to pay every month.

For 6 and 9 months, that’s a reducing-banalnce BT plan, which the interest is charged using the rate and the total outstanding balance on each month accordingly.

For 24 and 36 months, that’s a fixed-rate BT plan, which the interest is charged using the rate and the total outstanding balance you wish to transfer, and mutiply with the total months of your installment

Example: (24 months tenure)

RM 5000 (Total outstanding) + (RM 5000*0.375% * 24) = RM 5450 / 24 = 454.17 per month

** For 6 and 9 months, a new account named with “Balance Transfer” will created under your Maybank2u.com account and you will need to pay to this account every month.

** For 12,24 and 36 months, the outstanding is credited into your credit card every month as like normal expenses using your card, and make payment to this card before the due date

For more details please refer to HERE to check out the T&C and download application form.