As a globally-recognised bank, Citibank is amongst the go-to banking institutions in Hong Kong for anyone seeking to borrow cash from a genuine supply. Citibank provides a selection of unsecured loans to accommodate needs that are diverse including a taxation loan and a debt consolidation reduction loan.
Which Citibank Loan is better for you personally?
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Citibank Tax Loan
Citi Tax Season Loan
Max Repayment Period
The dreaded taxation season is just one of the most challenging times of the 12 months for handling your hard earned money movement. To assist you cope, the Citibank Tax Season Loan enables you to borrow as much as 12 times your month-to-month wage (or HK$2,000,000, whichever is leaner) at an interest rate that is relatively low.
Unlike various other taxation loans that are fairly short-term, Citibank allows you to repay the mortgage for approximately 60 months.
So that you can qualify for Citibank Tax loan, you must to be considered a Hong Kong permanent resident who’s at the very least 18 years old. You should be a full-time worker at your overall workplace for at the very least a few months, by having a month-to-month wage of at the least HK$6,000, to qualify.
You’ll be able to get the Citibank Tax Season loan authorized for a passing fancy time, supplied you successfully submit the desired papers as well as a filled-in form before 12 noon for a day time.
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*Calculation predicated on loan level of HK$1,500,000 and payment period of one year; the APR that is actual vary for specific clients.
Citibank Debt Consolidating Loan
Citi Card Debt Consolidating Loans
Max Repayment Period
If you are experiencing personal credit card debt that surpasses 50 % of your total month-to-month profits, it generates sense that is financial have the Citibank Card financial obligation Consolidation Loans.
It is a particular form of loan where in fact the bank clears your high-interest bank card debts for you, while you concentrate on repaying a repayment plan to your Citibank loan that best suits you.
It is possible to borrow as much as 21 times your month-to-month income (capped at HK$1,200,000) and certainly will just take as much as to 60 months to pay for it straight right right back.
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Note: the ultimate loan quantity approved by Citibank while the loan tenure is examined on an instance by situation foundation. Please contact Citibank for details.
Just how to Submit An Application For Citibank Unsecured Loan?
Select Your Loan Item
Locate a suitable loan item that best fits your monetary requirements. Be sure you browse the print that is fine comprehend the mortgage structure. As soon as selected, fill the application form in and submit all the desired papers.
Watch for Your Loan Approval Result
Citibank Loan professional will contact you within then 1-2 business days to finalize the regards to the mortgage. In the event that loan is ultimately approved, you will be asked to search well for a designated branch to undergo the mortgage disbursement procedure.
Disbursement of the Loan
You will be required to sign the drawdown letter so that Citibank can settle your card debt with other financial institutions if you are applying for Card Debt Consolidation Loans. For any other loan kinds, your loan is supposed to be disbursed immediately via money, cheque or credit to your designated banking account
Citibank Loan Offers & Promotions
Like almost every other bank or cash loan provider, Citibank often provides regular promotions for their personal bank loan items, such as for example low APR prices, money discount coupons, also gift suggestions such as for instance pills. These sweeteners are no doubt appealing, but being a consumer, you ought to protect your self by spending attention that is special the small print of the provides. Loan promotions that market APR that is low are usually limited by particular loan amounts and payment durations, in addition they can be modelled predicated on an alternative rate of interest structure than what you are really getting. Be sure the marketing loan payment framework is one thing you will be comfortable investing in very very first. Welcome presents such as for instance cash discount coupons are often offered without any strings connected, however in other instances, banking institutions have the ability to “claw right straight back” the present if you fail to fulfil requirements that are certain call at the terms & conditions. Warning: You’ve got to settle your loans. Do not spend any intermediaries.
Citibank Loan Application Supporting Papers
As well as the eligibility requirements defined above, you are necessary to submit the next documents that are important Citibank can accept your loan:
Citibank takes documents that are several show your earnings. It is best to furnish payroll that is official (detailed with business stamp/letterhead), however if this is simply not available, it is possible to submit your bank declaration or account passbook showing your income deposit record for at the least the last 90 days.
It is any formal page or bill that demonstrates you provided that you are a real resident of the address. It should demonstrably state both your title and domestic target. You may possibly submit your household bill, cellular phone bill, bank declaration, or page through the federal federal government.
Citibank Loan Fees & Costs
APR (interest) could be the many cost that is prominent of one’s unsecured loan, however it is by no means the only person! Its also wise to know about the fees that are following Citibank may charge in several situations.
Citibank advertises a 0% maneuvering cost because of their signature loans, however it is feasible that this cost is definitely consumed in to the APR. Do compare signature loans across banking institutions to ensure that you have actually the rate that is best.
Early Repayment Fee
Kudos to you personally for clearing your loan that is personal early but you will see a charge for doing this. This really is typically 1.5percent for the major loan amount however it varies just a little based on when exactly you create repayment that is early.
Change of Repayment Date
You can expand your payment date, but you’ll be charged a day-to-day Extension Fee in the interest that is same of the unsecured loan. The extension that is maximum will give you is 45 times.
Citibank Loan Customer Support Hotline
Need certainly to speak to somebody at Citibank urgently about your loan? For loan-related inquiries and also to follow through on the application for the loan, it is possible to phone Citibank’s hotline at (852) 2963 6477. The hotline runs from Mondays to Fridays from 9am to 8pm, and on Saturdays from 9am to 6pm.