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    Citibank Personal Loan

    We found 1 Citibank Personal Loan

    Bank Name
    Interest Rate
    Loan Tenure
    Joining Perks
    From 4.83% EIR from 9%
    1-5 Years
    What you'll love
    What you need
    What it costs

    Citibank Personal Loan


    Citibank Personal Loan

    Life is full of uncertainties and surprises. Sudden financial demands like medical expenses or a need for house renovation might spring up unexpectedly. Personal loans can help you face such emergencies when you do not have enough savings. Citibank personal loans come with many unique features that benefit the borrower. Citibank personal loans will be of great help in supporting your ever growing financial needs.

    You’re probably eligible for a Citibank Personal Loan if you are

    Citibank Personal Loan Minimum Age

    Atleast 21 years

     Citibank Personal LoanMaximum Age

    Above 21 Years

     Citibank Personal Loan Eligible Employment Type

    Salaried or self-employed with regular income

     Citibank Personal Loan Minimum Income

    Earn more than the minimum income required

    Your Citibank Personal Loan amount eligibility is based on these factors

     Citibank Personal Loan Minimum Salary

    Minimum income required Singaporean/PR - S$30,000

    Citibank Personal Loan Maximum Loan Funded

    Max loan amount - No Info

     Citibank Personal Loan EMI

    EMIs of other loans lower your eligibility

    Increase your eligible Citibank Personal Loan amount by these steps

     Citibank Personal Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

    Citibank Personal Loan Tenure

    Choose longer tenure loan up to 5 Years

    Documentation needed to apply for an Citibank Personal Loan

    • 1.Photocopy of NRIC
    • 2. Salaried Employee:
      • Latest Computerized Payslip OR
      • CPF Contribution Statement for past 12 months OR
      • Latest Income Tax Notice of Assessment (NOA)
    • 3. Variable Income/Commission Based Earner:
      • Latest 6 months Computerized Payslip OR
      • CPF Contribution Statement for past 12 months OR
      • Latest Income Tax Notice of Assessment (NOA)
    • 4. Self-Employed:
      • Income Tax Notices of Assessment (NOA) for past 2 years
    • 5.Any other documents as may be requested by the Bank at its sole discretion

    Citibank Personal Loan DetailsUpdated on 27 Apr 2017

    Citibank Personal Loan Details
    Interest Rate 4.83% p.a (3 years)
    Minimum Income S$30,000 p.a.
    Min Loan Amount $1,000
    Loan Tenure 3-5 years
    EIR 9% p.a.

    About Citibank Personal Loan Singapore

    Citigroup is an acclaimed American financial services corporation that was established in 1812. Citigroup’s retail banking network, Citibank, has more than 4600 branches worldwide. In Singapore, Citibank was incorporated in the year 1982 and was initially known as the International Banking Corporation (IBC). The Global Consumer Banking Division of Citibank was set up in the year 1982 to cater to the financial needs of individuals and small businesses.

    Citibank was also the first Singaporean bank to popularize the use of ATMs in the early 1980s. Although Citibank was relatively a latecomer in the retail-banking sector, Citibank was awarded the Qualifying Full Bank (QFB) license by the Monetary Authority of Singapore in 1999. In recognition of its outstanding management practice, Citibank’s Global Consumer Group was awarded the People Developer Standard by SPRING board in 2003. Apart from retail banking, Citibank also extends its service in areas like insurance, wealth management and investment banking.

    Citibank personal loan comes with added advantages like no extra service charge, affordable rate of interest and minimal documentation requirements.

    Why Choose Citibank Personal Loan?

    Citibank personal loans comes loaded with an array of customer-centric features like affordable rate of interest and special welcome offer for new customers. Citibank processes personal loan application in as fast as on hour to satisfy the immediate financial requirements of customers. Also, Citibank offers 24/7, unparalleled customer care service to ensure that all your queries are answered on time.

    Features and Benefits of Citibank Personal Loan

    Here are a few reasons as to why Citibank personal loan is the most sought after commodity in the financial market.

    • Low Interest Rates
    • With interest rates as low as 4.83% per annum, Citibank offers one of the most affordable personal loan for Singaporeans.

    • Flexible Instalment Terms
    • At tenures ranging up to 60 months, borrowers can choose a repayment term that they are comfortable with.

    • Minimum Documentation Requirement
    • You can clinch a personal loan with less paperwork and documentation with Citibank.

    • No Service Charge
    • Citibank does not levy any service charge for personal loans. This means you can save up to 1.5% on the loan amount.

    • Citibank Ready Credit
      • Ready Credit is the fastest, most flexible credit line where the borrower can avail up to 4X the monthly income.
      • Get up to 4 times your monthly income capped at S$150,000.
      • Enjoy interest rates lower than a credit card at 1.663% per month.
      • Get an ATM or Ready Credit Card with this account.
      • Access your cash through ATMs, cheques, online or mobile fund transfers.
      • Pay for retail purchases at a million merchants all over the globe. Get 1% cash rebate on your spends. Daily spending limit is capped at S$2,000.
      • You can also save 50% on your interest when you use your Citibank Ready Credit account through ATMs, cheques, online fund transfers or pay for retail purchases. This offer is valid for the first 3 months of opening your account. Interest will be charged at 50% lesser for the second and the third month. The interest savings is capped at S$200.
      • Transfer your balance on any other bank’s credit cards and enjoy repaying the amount at lower interest rates offered under this scheme.
      • Pay bills conveniently by consolidating them and making one payment with this account.
      • Pay bills securely online.
    • Citibank Ready Credit Smartcash
      • Smartcash scheme is an instalment type loan with flexible tenures up to 36 months.
      • Borrowers can avail credit up to 2X times the monthly income.
      • Low interest rate of 1.75% per month.
      • Get or use your cash via ATMs, Cheque book, and online funds transfer.
      • Pay bills conveniently and securely online.
      • Pay all your bills in one single transaction with your Citibank Ready Credit Account.
    • Citibank Paylite Instalment Loan
      • Paylite Instalment Loan offers preferential interest rates
      • Flexible instalment tenures up to 60 month
      • This scheme also guarantees loan approval within an hour. If your loan is not approved within the hour and is approved later on, you will get a 6 month interest waiver on your loan.
      • You can also save 50% on your interest when you use your Citibank Ready Credit account to pay for retail purchase, at ATMs, cheques, or online fund transfers. You can avail of this offer for the first 3 months of opening your account. Only half of your interest due will be charged for the second and the third month. The interest savings is limited to S$200.
    • Singaporeans with a minimum annual income of S$30,000 are eligible to apply directly. Customers with annual income ranging from S$20,000 to S$30,000 are eligible to apply through Citibank Ready Credit SmartCash scheme.
    • The applicant’s age must be at least 21.
    • If the applicant is a foreigner, his minimum annual income must be S$42,000.

    The documents required vary depending on the source of income and nationality of the applicant. Here’s a list of all the documents that will be required during the loan application process.

    For Salaried Applicants

    • A photocopy of the National Registration Identity Card (NRIC)
    • Or CPF statement of the last 12 months (to be submitted via CPF web-link) or the latest income tax assessment notice
    • Or Original copy of latest, computerized payslip

    For Self-Employed Applicants

    • A photocopy of the NRIC
    • Last 3 months bank statement
    • Last 2 years income tax assessment notice

    For Foreigners

    • A photocopy of valid passport or employment pass
    • Latest original computerized payslip
    • Latest income tax notice of assessment

    As a welcome offer for new customers who apply for Citibank Ready Credit availing a minimum loan amount of S1,000 and a tenure of 36 months, 4.83% per annum interest rate is offered. This amounts to an effective interest rate of 9% per annum on personal loans.

    The table below summarizes the nominal and effective interest rates for varied tenure.

    Tenure in Months 12 24 36 48 60
    Nominal Interest Rates 8.76% 7.76% 7.39% 7.79% 7.92%
    Effective Interest Rates 15.80% 14.25% 13.50% 14.00% 14.00%

    However, as interest rates are subject to change, kindly enquire with Citibank before applying for a personal loan.

    Citibank offers 4.83% interest rate on personal loans for new customers. Effective rate of interest will be 9% p.a. Customers who apply for a Citibank Ready Credit account with at least S$5000 and a loan tenure of 36 months are eligible for this offer.

    Citibank Ready Credit and Ready Credit Smartcash Charges
    Annual fee Ready Credit - S$80 (waived for the first year)
    Ready Credit Smartcash - S$90 (waived for the first year)
    Minimum payment S$45 or 3% of the outstanding amount, whichever is higher. In case the total amount due is less than S$45, then the total amount will be the minimum payment.
    Termination fee (within 12 months of opening) Ready Credit - S$80
    Ready Credit Smartcash - S$90
    Cheques You will be liable to pay any charges for dishonored cheques, or instruction to stop payment on a cheque.
    Service charge A fee will be applicable for maintaining an inactive account, sending your copies of past account statements on your request and others
    Overlimit Fee If the current balance on your account exceeds your credit limit, a fee will be charges.
    Citibank Paylite Instalment Loan charges Charges
    Cancellation fee for 3% of outstanding principal amount that was unbilled, subject to a minimum of S$100.

    The other financial products offered by Citibank Singapore are listed below.

    1. What is the best way to apply for a Citibank personal loan?
    2. You have the option of applying online, calling the Citiphone hotline or submitting the application at any of the Citibank branches over Singapore, as per your convenience.

    3. How will the loan amount be disbursed?
    4. The loan amount will be credited to the bank account of your choice within 3 to 5 days.

    5. What are the extra fees that I will incur when applying for Citibank personal loan?
    6. Other charges will include a cancellation fees which is 3% of the outstanding unbilled principal amount or S$100, whichever is higher.

    7. What is the tenure for Citibank Personal Loans?
    8. Citibank offers flexible tenures ranging from 12 months to 60 months at different interest rates depending on the tenure.

    9. How to calculate the EMI for Citibank Personal Loans?
    10. You can use the personal loan EMI calculator available on the Citibank web portal to find out your monthly repayment amount. You will have to enter details like the loan amount, tenure, nominal interest rate and effective interest rate. Based on these details, your monthly EMI will be calculated. You can also view your loan repayment schedule to plan your finances better.

    11. What is the minimum loan amount I can avail of?
    12. Under the Ready Credit PayLite program, you can avail of a minimum of S$1,000 or any amount as Citibank may deem fit.

    13. Can I prepay my personal loan?
    14. Yes, you can prepay a Citibank Ready Credit PayLite Personal Loan. You can do this by fully prepaying the balance outstanding after giving one month’s prior notice in writing or through Telephone Banking Service. You may also give one month’s prior notice in such other manner as Citibank may deem appropriate.

    15. Is the 1-hour loan approval scheme available to all?
    16. No, in order to be eligible for the 1-hour loan approval offer:

      • You should be Singaporean citizen or permanent resident.
      • Individuals below the age of 62 years earning at least S$20000 per annum can take part.
      • Both new and existing customers are eligible.
      • Customers must also have an existing Citibank Credit Card and/or a Ready Credit Account.
      • If you don’t have either, you must open one by submitting the Account opening documents.
    17. What’s the minimum income required for a Citibank Personal Loan?
      • For the Citibank Ready Credit PayLite Loan, you need to be earning a minimum of S$30,000 per annum.
      • For the Ready Credit, you need to be earning a minimum of $30,000per annum. Foreigners need a minimum of S$42,000 per annum.
      • For Ready Credit SmartCash, you need to be earning above $20,000 and below S$30,000.

      Funds from Citibank personal loan can be used for various reasons like marriage, house renovation and sudden medical expenses. With such wide array of customer-friendly features, Citibank’s personal loan will help you face any financial contingency with confidence.

    News About Citibank Personal Loan

    • Citibank Refer a Friend Promotion

      Run Time – This is an ongoing promotion

      Particulars – Get shopping vouchers worth up to SGD 500 when you refer family or friends to take a home loan from Citibank

        • If you refer an amount of loan between SGD 100,000 and SGD 300,000, you will get shopping voucher worth SGD 50

        • If you refer an amount of loan between SGD 300,000 and SGD 500,000, you will get shopping voucher worth SGD 150

        • If you refer an amount of loan between SGD 500,000 and SGD 1500,000, you will get shopping voucher worth SGD 300

        • If you refer an amount of loan, which is more than SGD 1500,000, you will get shopping voucher worth SGD 500

      Terms and Conditions –

        • You can refer any number of people

        • You cannot exchange the reward for cash or credit

        • The reward is non refundable

      To find out more details about the promotion and its terms and conditions, please visit Citibank’s website or contact them.


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