There is no dearth of options when it comes to personal loans in Singapore. Almost every bank and financial institution in Singapore offer personal loan schemes. Each personal loan scheme is different from the other owing to the different features, fees, and benefits.
Citibank offers various personal loan schemes, Citibank Quick Cash Installment loan being one of those schemes. This personal loan scheme offers personal loan at a preferential rate of interest for a flexible tenure. The USP of the loan scheme lies in its quick approval. Read on to know more about Citibank Quick Cash Installment loan scheme.
Features and benefits of Citibank Quick Cash Installment Loan scheme
Listed below are the features of Citibank Quick Cash Installment Loan scheme:
- Loan approved in one hour.
- Preferential rate of interest.
- High loan amount.
- Choice of flexible installments up to 60 months.
- The loan scheme is available to only Singaporeans and PRs.
- The loan is available to both salaried and self employed individuals.
- Hassle free application process.
- Simple documentation.
- Can be applied for online and offline.
Eligibility criteria for the Citibank Quick Cash Installment Loan
Given below is the eligibility criteria for Citibank Quick Cash Installment Loan Scheme:
- The applicant should be a Singaporean or a Permanent Resident.
- The applicant should be earning a minimum income of S$20,000.
- The applicant should possess all the required documents.
Documents required for Citibank Quick Cash Installment Loan scheme
Given below is a list of documents required for Citibank Quick Cash Installment Loan scheme:
- A photocopy of the front and back of your NRIC.
- For Salaried employees :
- Past 12 months’ CPF statement s or
- Latest Income Tax Notice of Assessment and latest original computerized payslip.
- For Self-Employed:
- Last 2 years’ Income Tax Notice of Assessment and last 3 months’ bank statements.
How to apply for Citibank Quick Cash Installment Loan scheme?
Applying for card Citibank Quick Cash Installment Loan is very easy. The applicant can either apply for the loan scheme online or do it offline at one of the bank’s branches in Singapore.
- Online- The applicant can visit the official website of the bank if they wish to apply for the card online. At the official website, the applicant can choose the card of their choice and apply for it by downloading the form and submitting it with relevant documents. The applicant can also apply for the card on third party financial websites.
- Offline- If the cardholder wishes to apply for the card offline, they can do so by visiting one of the bank’s branches in Singapore.
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Frequently asked questions:
What does the one hour loan approval feature mean?
This program allows customers to know, within an hour, whether approval has been granted in respect of their installment loan application. If you have submitted all the required information and the bank is unable to make a decision on your installment loan application within an hour and the loan is subsequently approved, the bank will grant you a 6 months interest waiver.
How would I know if the loan is approved?
You would need to call in to 6238 8888 or visit the relevant branch to check on the status of your loan application.
How will the funds be disbursed?
- Funds can be disbursed through the following methods:
- Cash collection from banking branch
- Direct crediting into Citibank banking account
- Direct crediting into non-Citibank banking account
Read More about Personal Loans in Singapore