Being a globally-recognised bank, Citibank is among the go-to banking institutions in Hong Kong for many seeking to borrow cash from a source that is legitimate. Citibank provides a selection of unsecured loans to accommodate needs that are diverse including an income tax loan and a debt consolidation reduction loan.
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Max Repayment Period
The dreaded taxation season is just one of the most challenging times during the the year for handling your money payday loans online movement. To help you cope, the Citibank Tax Season Loan allows you to borrow as much as 12 times your month-to-month income (or HK$2,000,000, whichever is leaner) at a reasonably low interest.
Unlike various other taxation loans that are fairly short-term, Citibank enables you to repay the mortgage for approximately 60 months.
So that you can be eligible for a Citibank Tax loan, you have to to be considered a Hong Kong permanent resident that is at the least 18 yrs old. You should be an employee that is full-time your overall workplace for at the very least a couple of months, having a month-to-month income with a minimum of HK$6,000, to qualify.
You may also get the Citibank Tax Season loan authorized for a passing fancy day, offered you successfully submit the desired papers along with a filled-in form before 12 noon for a day that is working.
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*Calculation according to loan level of HK$1,500,000 and payment amount of one year; the APR that is actual differ for specific clients.
Max Repayment Period
If you should be fighting personal credit card debt that surpasses 1 / 2 of your total month-to-month profits, it creates sense that is financial obtain the Citibank Card financial obligation Consolidation Loans.
This really is a unique style of loan where in fact the bank clears your high-interest bank card debts for you, whilst 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 wage (capped at HK$1,200,000) and that can simply simply simply take as much as to 60 months to cover it right straight back.
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Note: the last loan quantity authorized by Citibank as well as the loan tenure is examined on an instance by instance basis. Please contact Citibank for details.
Find a suitable loan product that best fits your monetary requirements. Make certain you browse the print that is fine comprehend the mortgage framework. As soon as chosen, fill into the application and submit all the mandatory papers.
Citibank Loan professional will contact you within then 1-2 business days to finalize the regards to the mortgage. If the loan is ultimately authorized, you will have to go to a designated branch to undergo the mortgage disbursement process.
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 will likely to be disbursed immediately via cash, cheque or credit into your designated banking account
Like almost every other bank or cash loan provider, Citibank often provides regular promotions for their unsecured loan items, such as for example low APR prices, money discount coupons, also presents such as for instance pills. These sweeteners are no doubt appealing, but being a consumer, you need to protect your self if you are paying unique awareness of the terms and conditions of those provides. Loan promotions that market APR that is low are usually restricted to certain loan quantities and payment durations, plus they might be modelled predicated on an alternate interest framework than what you are really getting. Be sure the marketing loan payment framework is one thing you will be comfortable investing in very first. Welcome presents such as for example money discount discount coupons are occasionally offered without any strings attached, however in other situations, banks have the ability to “claw right straight back” the present if you don’t fulfil requirements that are certain away in the terms & conditions. Warning: You’ve got to settle your loans. Never spend any intermediaries.
Besides the eligibility criteria defined above, you are needed to submit the next crucial papers before Citibank can accept your loan:
Citibank takes a few papers to prove your earnings. It is best to furnish payroll that is official (filled with business stamp/letterhead), however if this isn’t available, you may submit your bank declaration or account passbook showing your income deposit record for at the least the last 90 days.
That is any formal page or bill that demonstrates that you will be a proper resident regarding the address you offered. It should demonstrably state both your name and domestic target. You may possibly submit your household bill, cellular phone bill, bank declaration, or page through the federal federal government.
APR (interest rate) will be the many prominent price component of the unsecured loan, however it is in no way the only person! Its also wise to know about the after charges that Citibank may charge in several situations.
Citibank advertises a 0% managing cost with regards to their loans that are personal however it is feasible that this cost is just absorbed in to the APR. Do compare unsecured loans across banking institutions to ensure that you have actually the most useful rate.
Kudos to you personally for clearing your unsecured loan early, but you will have a charge for doing this. This is certainly typically 1.5percent of this major loan quantity however it differs just a little according to when exactly you create very early repayment.
You can expand your payment date, but you’ll be charged a constant Extension Fee during the exact same interest of one’s personal bank loan. The extension that is maximum will give you is 45 times.
Need certainly to speak to somebody at Citibank urgently about your loan? For loan-related inquiries also to follow through in your 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, as well as on Saturdays from 9am to 6pm.