• Personal Loan BYTES FROM OUR KITCHEN

    Citibank Ready Credit Paylite Loan

    Citibank Ready Credit PayLite is an instalment loan facility available for new as well as existing Citibank Ready Credit account and credit card holders. It allows you to take a personal loan on your Ready Credit/credit card account. You can borrow any amount depending on the available limit in your Ready Credit account, subjected to a maximum of four times your monthly income. You can take the funds in cash or you can get the funds transferred to any of your savings/current accounts (Citibank or non-Citibank). With quick approval and affordable interest rates, this loan offers an ideal option whenever there is a financial emergency. You can repay the loan in easy, monthly instalments.

    Features and Benefits

    • You can borrow up to four times your monthly income.
    • Enjoy the flexibility to choose your repayment tenure from 12 months to 60 months.
    • Enjoy quick approval of your loan with the bank’s “1-Hour Loan Promise Program”.
    • Depending on the tenure you choose, interest rates on PayLite loans start from 8.50% p.a.

    Interest Rates

    For new customers – with no service fee (Welcome offer with promotional rates)

    Loan tenure 12 months 24 months 36 months 48 months 60 months
    Nominal Interest 4.66% p.a. 4.55% p.a. 4.55% p.a. 5.72% p.a. 5.79% p.a.
    Effective Interest 8.5% p.a. 8.5% p.a. 8.5% p.a. 10.5% p.a. 10.5% p.a.

    Note: Promotional rates are valid until 31 December 2018.

    For new customers – no interest charges with upfront service fee

    Loan Tenure 6 months 12 months 18 months
    Effective Interest 14.82% p.a. 15.20% p.a 13.63% p.a.
    Upfront Service Fee 3% 6.6% 9%

    Note: These rates are not applicable on online applications.

    For existing Ready Credit account or Citi credit card holders

    Loan tenure 12 months 24 months 36 months 48 months 60 months
    Nominal interest 6.06% p.a. 5.65% p.a. 5.39% p.a. 6.75% p.a. 6.85% p.a.
    Effective interest 11% p.a. 10.5% p.a. 10% p.a. 12.25% p.a. 12.25% p.a.

    For SmartCash customers – no interest charges with upfront service fee

    Loan tenure 6 months
    Effective interest 19.95% p.a.
    Upfront service fee 4%

    For SmartCash customers – with no upfront service fee

    Loan tenure 12 months 24 months 36 months
    Effective interest 17.97% p.a. 19.02% p.a. 19.57% p.a.
    Nominal interest 10% p.a. 10.5% p.a. 11% p.a.

    Fees and Charges

    Cancellation Fee 3% of the outstanding principal or S$100, whichever amount is higher
    Late Payment Charge S$100
    Over-limit Fee S$40

    Check Your Eligibility

    You must have an income of at least S$30,000 p.a. to apply for Citibank Ready Credit PayLite.

    How to Apply

    • If you are a new customer, you can apply for this loan by filling out an online form. The bank will contact you by the next working day to finish your application process.
    • If you are an existing customer, you can use your existing Ready Credit account/credit card account login credentials to apply for this loan.

    FAQs

    Q. What is the eligibility requirement for the 1-hour loan approval program?

    • You must be a Singaporean or a Singaporean PR, aged below 62 years.
    • You must have a Citi credit card or a Ready Credit account. If you don’t have either of the two, you must apply for one or both while submitting your loan application.

    Q. What documents are required to apply for a Citi credit card or a Citibank Ready Credit account?

    A. Salaried employees:

    • Copy of NRIC (front and back)
    • Last 12 months’ CPF statement
    • Latest Income Tax Notice of Assessment
    • Bank statements for the last three months.
    • Self-employed individuals:

      • Copy of NRIC (front and back)
      • Bank statements for the last three months
      • Income Tax Notice of Assessment for the last two years.
      • Q. Does the 1-hour program include the time required for loan disbursal?

        A. No. It doesn’t include the time required for loan disbursal.

        Q. How can I get the funds when my loan is approved?

        A. You can access your funds in any of the following ways:

        • Collect cash from a bank branch.
        • Get funds credited into your Citibank account.
        • Get funds credited into your non-Citibank account.

        Q. How can I check the status of my loan application?

        A. You can call the bank or you can visit any relevant branch to know the status of your application.

  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.