(Welcome offer for new to bank customers)
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From meeting your urgent financial requirements to making personal and business investments, Citibank personal loans can be used for various purposes. Citibank Ready Credit Account holders can convert their credit line into an easy installment personal loan. Alternatively, the credit limit on your Citibank Credit Card can also be converted into an easy installment loan with flexible repayment options for a loan tenure of 12 to 60 months at competitive interest rates.
Atleast 21 years
Below 62 Years
Salaried or self-employed with regular income
Earn more than the minimum income required
Minimum income required Singaporean/PR - S$30,000
Max loan amount - Depends on Income
EMIs of other loans lower your eligibility
|Interest Rate (for new customers)||4.55% p.a. (3 years)|
|Minimum Income||S$30,000 p.a.|
|Min Loan Amount||S$1,000|
|Loan Tenure||1-5 years|
|EIR||8.50% p.a. (3 years)|
Here are a few reasons why you should opt for personal loans offered by Citibank:
Here are the different personal loans that Citibank offers its customers:
Enjoy up to 4 times your monthly income as your credit limit with an interest rate as low as 1.663% per month.
Enjoy a credit limit of up to 4 times your monthly income with a tenure of up to 60 months (5 years). You can get your loan approved within an hour.
Enjoy low monthly repayments with a loan tenure for up to 7 years. Apply for this plan and receive complimentary protection insurance cover (maximum coverage up to S$160,000).
Enjoy 0% interest for the first 6 months with a low processing fee of 1.58% (this translates to EIR of 3.6% p.a.) on your Citibank Ready Credit. The minimum loan amount is S$500.
Convert your retail purchases of at least S$500 into monthly instalments with a low processing fee.
Here are the features and benefits of Citibank Personal Loan products:
The minimum loan amount for a personal loan is S$1,000 and for balance transfers and Paywise, the minimum loan amount is S$500.
New customers of Citibank will enjoy promotional interest rate offers on various personal loan products.
Personal loan tenures start from 6 months and extend up to 60 months.
Pay low service fees to get your personal loan product application processed.
Enjoy personal loan approval in 1 hour upon meeting the terms and conditions.
Upon approval of your Citibank personal loan, the approved loan amount will be deposited into a Citibank account within the next business day and into a non-Citibank account within 5 business days.
Here are some common eligibility criteria applicable to Citibank Personal Loans:
All personal loan products are applicable to Singapore citizens and Permanent Residents. Foreigners are eligible to Apply for select personal loan products .
The minimum age to apply for a personal loan product with Citibank is 21 years.
The minimum income requirement for Singapore citizens and Permanent Residents is S$30,000 per year and for foreigners is S$42,000 per year.
|Loan tenure||Nominal Interest Rate||Effective Interest Rate|
|12 months||4.94% p.a.||9.00% p.a.|
|24 months||4.82% p.a.||9.00% p.a.|
|36 months||4.55% p.a.||8.50% p.a.|
|48 months||5.72% p.a.||10.50% p.a.|
|60 months||5.79% p.a.||10.50% p.a.|
|Loan tenure||Nominal Interest Rate||Effective Interest Rate|
|12 months||6.06% p.a||11% p.a.|
|24 months||5.65% p.a.||10.50% p.a.|
|36 months||5.39% p.a.||10% p.a.|
|48 months||6.75% p.a.||12.25% p.a.|
|60 months||6.85% p.a.||12.25% p.a.|
The Citibank Personal Loan Calculator is available to new and existing customers on the bank’s website. Here is how to use this calculator:
You can apply for a Citibank Personal Loan through our website. All you have to do is to click on Check Eligibility and provide a few pieces of basic information
Q. Can I apply for the 1 Hour Loan Approval Program if I’m a foreigner?
A. No, you can’t apply for the 1 Hour Loan Approval Program if you’re a foreigner. Only Singaporeans and Singapore Permanent Residents can apply for this promotion.
Q. What is the maximum age before which I can apply for the 1 Hour Loan Approval Program?
A. You have to be below 62 years of age to qualify for the 1 Hour Loan Approval Program.
Q. When does the one-hour period start for the 1 Hour Loan Approval Program?
A. The one-hour period shall start from the time the bank confirms receipt of the loan application form along with completed account opening documents through call-back. The relevant documents and the application form must have been submitted before 5 p.m. on the same day.
Q. Will I incur any additional interest charges if the minimum payment is not made in full by the due date of payment for Ready Credit facility?
A. Yes, an interest charge will be applicable on the unpaid amount at the prevailing rate of interest if minimum payment is not made by the due date. This additional interest will be applicable until if you have repid the payment in full.
Q. What will happen if I have failed to make the minimum payment in full for two consecutive months for Ready Credit facility?
A. If you have failed to make minimum payments in full for two consecutive month, Citibank will terminate the loan without any notice. In this case, you have to pay all the outstanding bill amount.
Q. Will I be eligible to earn any rewards under any of the Citi loyalty programs when applying for Citibank Ready Credit PayLite Program?
A. No, you will not receive any rewards under any of the Citi loyalty programs when you apply for Citibank Ready Credit PayLite Program.
Q. Can I use Ready Credit facility to subscribe for wealth management products offered by Citi?
A. No, you can’t use Ready Credit facility to subscribe for wealth management products offered by Citi.
Q. Can I make partial pre-payment for Citibank Ready Credit PayLite facility?
A. No, you can’t pre-pay this facility partially.
Q. Do I have to give a notice to Citibank in case I want to terminate the Ready Credit facility?
A. Yes, you have to provide a month’s prior notice to Citibank through Telephone Banking Service or in writing if you wish to terminate this facility.