Cash woes? A personal loan to the rescue!

    Citibank Personal Line of Credit

    Citibank offers Singaporeans, Permanent Residents and foreigners with a flexible personal line of credit that works similar to a personal loan. There are two products offered – Ready Credit and PayLite, both of which work similarly. They allow you to make repayments over a flexible loan tenure. In order to get your personal line of credit, you’ll have to meet the eligibility criteria and separately apply for the same.

    Citibank Ready Credit PayLite Welcome Offer

    If you are a new customer who doesn't have a Ready Credit Account, you can enjoy promotional interest rates starting at EIR 8.5% p.a. for tenures of 12 months, 24 months and 36 months.  


    • Ready Credit allows you to get an approved line of credit equivalent 4 times your monthly income. The amount you can borrow in accordance with your monthly income is limited to S$200,000.
    • You can access cash through ATMs or through a complimentary chequebook that you’ll receive upon successful approval of your application.
    • You can also apply for a Ready Credit Card along with your personal line of credit application, For all retail purchases made using Ready Credit Card, you will get a 1% rebate. Your daily spending is capped at S$2,000.
    • You can perform fund transfers from your Ready Credit account to accounts in other banks. Both local transfers and overseas transfers can be performed with Ready Credit.
    • Ready Credit also allows you to perform balance transfers. Outstanding balance from credit cards or other personal line of credit products can be transferred to your Citibank personal line of credit account.
    • You will have to make a minimum monthly payment on or before the due date every month.
    • Repayments can be done over the course of a tenure of your choice, chosen at the time of applying for the line of credit.
    • As a Ready Credit PayLite customer, you can pay the outstanding in instalments spanning over a 60-month period.

    Interest Charges on Citibank Ready Credit

    The interest charges on the outstanding balance is 19.95% p.a. (EIR). You can enjoy a promotional rate of 12.50% p.a. (EIR) if your account is in good standing.

    Interest Charges on Citibank PayLite

    Promotional Interest Rate (for new Citibank Ready Credit Customers)

    Tenure in months 12 months 24 months 36 months 48 months 60 months
    Interest Rate (Nominal p.a.) 4.66% 4.55% 4.55% 5.72% 5.79%
    EIR (p.a.) 8.50% 8.50% 8.50% 10.50% 10.50%

    Interest Rate with an upfront service fee

    Tenure in months 6 months 12 months 18 months
    Service Fee 3.00% 6.60% 9.00%
    EIR (p.a.) 14.82% 15.20% 13.63%

    Interest Rate for existing Ready Credit Customers

    Tenure in months 12 months 24 months 36 months 48 months 60 months
    Interest Rate (Nominal p.a.) 6.06% 5.65% 5.39% 6.75%% 6.85%
    EIR (p.a.) 11.00% 10.50% 10.00% 12.25% 12.25%

    Fees and Charges

    Annual Fee S$80
    Fee to stop a payment S$30
    Returned cheque fee S$30
    Late Payment Fee S$90
    Overlimit fee S$40

    Eligibility criteria

    The following eligibility parameters need to be satisfied In order to apply for the DBS Personal Line of Credit:

    • You should be at least 21 years old.
    • You should be either a Singaporean citizen, a Permanent Resident or a foreigner.
    • Your minimum annual income should be S$20,000 if you are a citizen or PR, and S$42,000 if you are a foreigner.
    • Foreigners must have an employment pass with a minimum validity period of 1 year.
    • You’ll need to submit all your documents as specified by the bank, failing which your application will not be processed.

    Documents required

    • Salaried individuals:
      • Copy of NRIC, latest computerised payslips, Income Tax Notice of Assessment.
      • Self-employed individuals:
      • Bank statement (last 3 months), Copy of NRIC, CPF contribution history for the last 1 year, Notice of Income Tax Assessment.
      • Individuals with varied income:
      • Copy of NRIC, Income Tax Notice of Assessment, Bank statement (last 3 months)
    • Foreigners:
      • Copy of Passport, Employment Letter, Employment Pass, latest computerised payslips.

    How to Apply?

    You can apply for the Citibank Personal Line of Credit by visiting the official Citibank Singapore website and filling out an online application form available on the site. You must also submit your documents – proof of identity, income and residence along with the application, following which the bank will process your application. Your application will subsequently be approved if your profile meets the bank’s internal credit norms.


    1. How long will the loan amount take to get credited to my account?

      A.  After your application has been approved, the loan amount will take about 3-4 business days to reach your account.

    2. What is the minimum payment that I have to make?

      A. You have to make a minimum payment of 3% of your total outstanding balance every month, on or before the due date to avoid late payment charges and other related penal charges.

    3. Will I receive a Ready Credit Card along with my personal line of credit?

      A. Yes. But in order to receive the card, you will have to apply for it separately.

    4. How is Citibank Ready Credit different from Ready Credit PayLite?

      A. Technically speaking, Citibank Ready Credit is a personal line of credit while PayLite is a personal instalment loan. Ready Credit is a revolving credit plan while PayLite has a fixed tenure of up to 5 years.

    5. How soon will the Citibank personal line of credit be approved?

      A. If your documents and application form are as per the bank’s requirements, then the credit line will be approved within 1 hour. 

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