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Mortgage Plus Package Terms and Conditions by shuifanglj

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									Mortgage Plus Package Terms and Conditions


Note, the terms and conditions for the different products that make up the Mortgage Plus
package will be set out in the standard terms and conditions for that product, for example,
the Mortgage Plus Package Credit Card has the usual Citibank credit card terms and
conditions. This document just deals with the interest rate discounts and other benefits
that are exclusive to Mortgage Plus Package customers. If you take up our Mortgage Plus
Package the text in this document will be part of your Home Loan Facility Agreement (if
you take out a new loan) or your Home Loan Facility Variation Agreement (if you have an
existing loan). Mortgage Plus Benefits, eligibility criteria, terms and conditions and fees
vary from time to time. Ask your Citibank representative for the current ones or call 1300
361 922.

Definitions used in this document:
Customer, you (or you) means the person or persons named in the Home Loan Facility
Agreement Details as “Customer(s)”. If there are more than 1, these terms refer to each of them
separately and every 2 or more of them jointly.
Us or we or Citibank means Citigroup Pty Limited (ABN 88 004 325 080). Our takes a
corresponding meaning.
[settlement date] / [Effective Date] means (for Mortgage Plus Packages sold with new loans)
the date we lend you the principal part of the standard loan amount of credit for a standard loan
and the date we make the revolving credit limit available to you for a revolving loan; and (for
Mortgage Plus Packages sold as a variation to an existing loan) the date that we nominate after
receiving the signed Home Loan Facility Variation Agreement.


Overview of the Mortgage Plus Package
In your Home Loan application or Home Loan Variation request you applied for a Mortgage Plus
Package. The Package includes:
    • for the Home Loan Facility Customer who is the first individual borrower named in your
        Home Loan Facility application, or who separately agrees to be the Credit Card account
        owner, a Citibank Mortgage Plus Credit Card account;
    • for the Credit Card account owner, and if a joint account is required, other individual
        Home Loan Facility Customers, a Citibank Plus every day Transaction account;
    • for other Home Loan Facility individual Customers or other persons nominated (for the
        Credit Card account) by the Credit Card account owner, or (for the Transaction account)
        by its owners, the ability to operate on the Credit Card account and the Transaction
        account (the Mortgage Plus Accounts) as an additional cardholder or cardholders
        and/or electronically; and
    • for your Home Loan Facility account(s) and the Mortgage Plus Accounts a set of special
        interest rate discounts and other benefits (the Mortgage Plus Benefits).

To receive the Mortgage Plus Benefits you must pay the Package Fees disclosed in the ”Credit
fees and charges” and “Ongoing fees and charges” sections above. We will debit the Package
Fees to one of your Home Loan Facility accounts on the date you enter your Package and
annually on the anniversary of that date. The date you enter your Package will be the settlement
date or Effective Date.

The Credit Card account owner, together with in the case of a jointly owned Transaction account
its other owners, is the owner of the Mortgage Plus Accounts and is responsible for all debts on
them including debts created by additional cardholders.

These terms and conditions set out your and Citibank’s rights and obligations with respect to the
availability of Mortgage Plus Benefits.




Citigroup Pty Limited ABN 88 004 325 080 AFSL No. 238098                         Version.2.7 – June 2010
                                             Page 1 of 4
Mortgage Plus Package Terms and Conditions

Mortgage Plus Package other terms and conditions
The Mortgage Plus Package has separate terms and conditions for each of the main financial
products included in it (the Credit Card account and the Transaction account), the “Non-Cash
Payment Facilities” that you will use to access the accounts and the Mortgage Plus Benefits
described in the next section. Terms and conditions about the Package Fees and the availability
of the Mortgage Plus Benefits are contained in this section of the Home Loan Facility Agreement
– Details or Facility Variation Agreement. Some Mortgage Plus Benefits may have additional
terms and conditions. We will send the Credit Card account owner a copy of all relevant terms
and conditions before you enter into the Package and they are also available at
www.citibank.com.au.

Your Mortgage Plus Credit Card account will have the same functionality and terms and
conditions as one of our standard credit cards, but with the Mortgage Plus Benefit terms and
conditions overlayed. Our standard credit cards are issued in a number of benefit packages, with
names like “platinum”, “gold” and “silver”. These packages have their own eligibility criteria and
different types of benefits, for example, credit limits, transaction limits, rewards programs and
insurance products. Successful Mortgage Plus package applicants will be issued with a credit
card that they are eligible for. That may be a different credit card package to that depicted in our
advertising. Credit card package benefits may also have separate terms and conditions.

Mortgage Plus Benefits
The Mortgage Plus Benefits are:

a) Home Loan Facility interest rate discount(s). The discount(s) and the interest rate(s) that
   include the discount(s) applicable to your Home Loan Facility accounts are disclosed in the
   Annual percentage rate section above. If the annual percentage rate applicable to any loan
   under your facility is not a variable interest rate, the interest rate discount will not apply but all
   other Mortgage Plus Benefits will apply.

In addition to the Home Loan Facility interest rate discounts, the other Mortgage Plus Benefits
are:

b) any application fee for your Home Loan Facility is waived but you are required to pay an
   annual Package Fee as disclosed above;
c) any account keeping fee or facility fee of your Home Loan Facility is waived;
d) any fee for splitting any loan(s) within the Home Loan Facility is waived;
e) any fee for switching from the Home Loan Facility to another eligible loan product or interest
   rate type is waived;
f)   the Credit Limit increase fee for increasing your Home Loan Facility is waived;
g) the annual fee for the Citibank Mortgage Plus Credit Card is waived. However, we will not:
     •   refund any annual fee already paid; or
     •   waive any annual fee due on any existing credit card; and

h) any other benefits, including discounts and waivers, that we may offer to you from time to
   time as part of the Mortgage Plus Package.

Mortgage Plus Benefits operate as described above. They do not change terms and conditions of
the product other than as described above. For example while the fee for splitting loan facilities is
waived, the number of account splits that you can have is still limited by the Home Loan Facility
Agreement terms and conditions, and while switching fees may be waived, other fees may be
payable as a consequence of a switching request, for example early repayment and deferred
establishment fees. And Mortgage Plus Benefits apply only while your products are eligible to be
part of the Package.

Citigroup Pty Limited ABN 88 004 325 080 AFSL No. 238098                              Version.2.7 – June 2010
                                               Page 2 of 4
Mortgage Plus Package Terms and Conditions

Loss of Mortgage Plus Benefits
The Mortgage Plus Benefits will not apply, in part or in whole, if any of the events listed in the left
hand column occurs. The second column describes when the benefit is lost.

All benefits are lost if:
 a) your Home Loan facility does not proceed to                 When we determine that your Home
    settlement.                                                 Loan facility will not proceed to
                                                                settlement.
 b) all loan account(s) in your Home Loan facility are          When we close the last loan account in
    closed.                                                     your Home Loan facility.
 c) you switch your Home Loan facility to another loan          When you switch your Home Loan
    product or interest rate type that is not eligible to       facility.
    receive Mortgage Plus Benefits.
 d) you are in default under any Citibank facility where        When we commence court action.
    you receive a Mortgage Plus Package interest rate
    discount or other benefit and we commence court
    action against you to recover amounts due or
    enforce any security for amounts due or do both.
 e) You notify us that you would like the Mortgage              The final date that you advise us. See
    Plus Package to end.                                        below.


Benefits that depend on your having that account are lost if:
 f)   the Citibank Mortgage Plus Credit Card account is         When the account is closed or we
      not activated or is closed.                               determine that it will not be activated.
 g) the Citibank Plus Transaction account is not                When the account is closed or we
    opened or does not remain open.                             determine that it will not be opened.


If ”all benefits are lost”, we will, effective as at the date that is at least 30 days after we notify you
that all benefits are lost:
a) remove the Home Loan Facility interest rate discount(s);
b) reinstate any account keeping fee or facility fee applicable to your Home Loan Facility;
c) reinstate the annual fee for the Citibank Mortgage Plus Credit Card; and
d) remove any other Mortgage Plus Benefits, including discounts and fee waivers, that you may
   be enjoying as part of the Mortgage Plus Package.

In most cases if all benefits are lost, you have paid your Package Fee, and you request a refund,
part of your Package Fee will be refunded. The refund will be automatic if your Home Loan facility
does not proceed to settlement. There is no Package Fee refund for benefits not received
because you did not activate or keep open a credit card or transaction account.

Any refund of part of a Package Fee will be the lesser of A) 10/12’s of the Package Fee paid for
the year all benefits were lost and B) an amount calculated by multiplying the fee paid by the
number of whole months left in your fee year after the date the benefit was lost, divided by 12.
Any refund due will be credited to your Citibank Home Loan account, or if no Citibank Home Loan
account is available, another account as directed by you.




Citigroup Pty Limited ABN 88 004 325 080 AFSL No. 238098                                Version.2.7 – June 2010
                                                Page 3 of 4
Mortgage Plus Package Terms and Conditions

Variations and discontinuation
We may, at any time, introduce, vary or discontinue any Mortgage Plus Benefit term or condition,
including the terms and conditions of Mortgage Plus Benefits like the interest rate discounts and
the terms and conditions of the Package Fee.

We may do this in the same way that we may introduce, vary or discontinue the fees, charges
and other terms and conditions of your Home Loan Facility Agreement.

You may discontinue your Mortgage Plus Package at any time by notifying us in writing. You
must tell us the date that you would like the Mortgage Plus Package to end (final date) and give
us at least 14 days’ written notice. If the final date is on or before the next Package Fee due date
you will not be charged that next Package Fee and may continue to enjoy all of the Mortgage
Plus Benefits up until that final date.




Citigroup Pty Limited ABN 88 004 325 080 AFSL No. 238098                          Version.2.7 – June 2010
                                             Page 4 of 4

								
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