COVID-19 Insurance and Relief Measures

Your well-being is of utmost importance to us at Citi. Amid ongoing concerns around COVID-19, Citi is closely monitoring the evolving situation and has taken a number of precautionary measures to protect our clients and colleagues. As a valued Citi customer, we are here by your side to support you through this time and provide you with peace of mind with the following relief measures and initiatives.

Special Financial Relief Programme (Unsecured) for Citibank Credit Card and/or Ready Credit customers

Our relief programme allows eligible existing clients to convert their outstanding amounts on their unsecured facilities to a term loan of up to
5 years with effective interest rate of 8% p.a., repayable on a monthly basis.

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Extended Support Scheme (ESS) for Property Loans

Our existing customers have the option to apply for the ESS which allows you to repay 60% of your monthly instalment for up to 9 months, or until
31 December 2021 (whichever is earlier). Please note that existing customers enrolled in the Special Financial Relief Programme (SFRP) may also apply for ESS.

This programme offers the option for you to extend the tenure of your mortgage to lower your monthly instalment amount following resumption of regular monthly instalments.

However, you should keep in mind that reduced instalment plan and loan tenure extension mean that you will be paying more interest in total.

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Relief Measures for Citi Debt Consolidation Plan (DCP) Customers

Our relief measures allow eligible existing Citi DCP customers to extend their DCP loan tenure for up to 5 years to help reduce the amount of their monthly repayments.

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Relief Measures for CitiBusiness (SME) Customers

Our existing customers may apply for various relief programs to cope with cash flow.

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Relief Measures for Citi Commercial Bank (SME) Customers

To support our existing SME clients, we are offering the option to defer payment of the principal in respect of your secured term loans (i.e. interest only payments). To find out more, please call your Relationship Manager.

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Complimentary insurance coverage against COVID-19 from AIA

AIA is offering eligible clients complimentary insurance that covers S$1,000 hospitalisation income and S$25,000 death benefit against COVID-19 from now till 31 Dec 2020 or 30 days after the Disease Outbreak Response System Condition (DORSCON) level has officially stepped down to green – whichever is earlier. T&Cs apply. All eligible clients will automatically benefit from this free coverage. No action required.

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10 Teleconsultations and insurance benefits

AIA COVID-19 Support Programme

This Support Programme will extend the grace period for payment of premiums due up to 180 calendar days for clients who are financially affected by COVID-19, subject to applicable terms and conditions.

Policies eligible for the Support Programme are individual life and health insurance policies with a policy renewal or premium due date from 1 Apr to 30 Sep 2020.

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Terms and Conditions

Please refer to full disclaimers and terms and conditions applicable to relevant products and services.

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Options	Current Monthly installment	Monthly installment during Deferment Period	Monthly installment after Deferment Period	Total Interest accrued/ paid over the Deferment Period	Total Interest payable for the remaining loan tenure without Deferment [A]	Total Interest payable for the remaining loan tenure with Deferment [B]	Additional Interest payable due to Deferment [B] – [A]
1. Defer Principal + Interest Repayment with no tenure extension	S$6,298	S$0	S$6,630	S$11,334	S$133,618	S$140,260	S$6,642
2. Defer Principal-Only Repayment with no tenure extension	S$6,298	S$1,417	S$6,556	S$11,334	S$133,618	S$138,815	S$5,198
3. Defer Principal + Interest Repayment with tenure extension of 8 months	S$6,298	S$0	S$6,370	S$11,334	S$133,618	S$146,465	S$12,848
4. Defer Principal-Only Repayment with tenure extension of 8 months	S$6,298	S$1,417	S$6,298	S$11,334	S$133,618	S$144,951	S$11,334

Scenarios	Joint Borrowers of Property Loan	Income in Janurary 2020 (S$)	Income in October 2020 (S$)	Combined Income in Janurary 2020 (S$)	Combined Income in October 2020 (S$)	Reduction in Combined income (%)	Meet Eligibility Criteria of at least 25% reduction in combined income?
1	Borrower 1	8,000	7,500	11,000	8,500	2,500/11,000 = 23%	No
1	Borrower 2	3,000	1,000	11,000	8,500	2,500/11,000 = 23%	No
2	Borrower 1	8,000	6,000	11,000	7,000	4,000/11,000 = 36%	Yes
2	Borrower 2	3,000	1,000	11,000	7,000	4,000/11,000 = 36%	Yes

	Without ESS	With ESS
	Without ESS	No loan tenure extension	Loan tenure extension of 9 months
Outstanding loan principal	1,000,000.00	1,001,527.30⁽²⁾
Monthly Installment during Reduced Installment Period (S$)	3,229.61	1,940.80⁽³⁾	1,903.51⁽³⁾
Monthly Installment after Reduced Installment Period (S$)	3,229.61	3,269.81	3,206.24
Remaining Loan tenure (months)	374	374	383
Estimated interest payable over remaining loan tenure (S$)	207,921.93	209,419.83	214,736.71

	Without ESS	With ESS
	Without ESS	No loan tenure extension	Loan tenure extension of 9 months
Outstanding loan principal	1,000,000.00	998,650.79⁽⁴⁾
Monthly Installment during Reduced Installment Period (S$)	3,229.61	1,935.23⁽³⁾	1,898.04⁽³⁾
Monthly Installment after Reduced Installment Period (S$)	3,229.61	3,260.42	3,197.03
Remaining Loan tenure (months)	374	374	383
Estimated interest payable over remaining loan tenure (S$)	206,841.68	208,818.35	214,119.96

⁽¹⁾	This refers to: (a) the overdue and unpaid monthly instalment amount of S$2840 (S$500 in interest and S$2340 in principal) for December 2020 ("December Monthly Instalment"), (b) the late payment fee of S$160 and (c) S$34.15 in accrued interest on the outstanding principal amount. You have the option to add the interest component of the December Monthly Instalment and the accrued interest amount (together, the “Existing Arrears and Accrued Interest”) to the outstanding loan principal amount or to repay the Existing Arrears and Accrued Interest before taking up ESS.
⁽²⁾	This is the outstanding loan principal amount after adding: (a) the Existing Arrears and Accrued Interest and (b) the interest charges in respect of the outstanding loan principal amount which have accrued for the period from after application date to prior to commencement of ESS.
⁽³⁾	This is 60% of your monthly instalment amount which is computed based on the outstanding loan principal amount referred to in note ⁽²⁾ or note ⁽⁴⁾ (as the case may be) over the remaining loan tenure.
⁽⁴⁾	This is the outstanding loan principal amount after adding the interest charges in respect of the outstanding loan principal amount which have accrued for the period from after application date to prior to commencement of ESS.