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Compare the Best Citibank Personal Loans Rates and APRs 2020

Compare Citibank personal loans in Hong Kong. Pick the best APR and apply through MoneySmart to get exclusive offers and cashback now! Read More
100,000 personal loan Paid over 12 Months
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We found 2 Citibank Personal Loans for you!
Recommended
花旗銀行 logo

Monthly Payment

HK$8,423

MoneySmart Exclusive
No hidden terms and conditions

Citi Speedy Cash

APR*
2.01%
Total Amount Payable
HK$101,080
Total Interest Payable
HK$1,080
Monthly Payment
HK$8,423
New customer who successfully apply and drawdown Citi Speedy Cash or Citi Card Debt Consolidation Loan, can get up to HK$3,000 welcome offer + HK$4,000 MoneySmart reward = total HK$7,000 cash voucher!
Valid until 30 Sep 2020 - See T&Cs below
Apply Now
More Details
花旗銀行 logo

Monthly Payment

HK$8,523

MoneySmart Exclusive
Repayment term up to 72 months

Citibank Card Debt Consolidation Loans

APR*
4.26%
Total Amount Payable
HK$102,280
Total Interest Payable
HK$2,280
Monthly Payment
HK$8,523
New customer who successfully apply and drawdown Citi Speedy Cash or Citi Card Debt Consolidation Loan, can get up to HK$3,000 welcome offer + HK$4,000 MoneySmart reward = total HK$7,000 cash voucher!
Valid until 30 Sep 2020 - See T&Cs below
Apply Now
More Details

Disclaimer: At MoneySmart.hk, we strive to keep our information accurate and up to date. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. All financial products and services are presented without warranty. Additionally, this site may be compensated through third party advertisers. However, the results of our comparison tools which are not marked as sponsored are always based on objective analysis first.

Citibank Loan Recommendations 2020

  • Citibank Speedy Cash: Enjoy Annualized Percentage Rate as low as 2.23% and repayment term up to 60 months
  • Citibank Card Debt Consolidation Loans: Enjoy HK$0 handling fee and up to 30% off on total interest payment

How to Apply for Citibank Personal Loan?

Choose Your Loan Product

Find a suitable loan product that best fits your financial needs. Make sure you read the fine print and understand the loan structure. Once selected, fill in the application form and submit all the required documents.

Wait for Your Loan Approval Result

Citibank Loan Specialist will then contact you within 1-2 working days to finalize the terms of the loan. If the loan is eventually approved, you will be required to visit a designated branch to go through the loan disbursement process.

Disbursement of Your Loan

If you are applying for Card Debt Consolidation Loans, you will be required to sign the drawdown letter so that Citibank can settle your card debt with other financial institutions. For other loan types, your loan will be disbursed instantly via cash, cheque or credit into your designated bank account.

Citibank Loan Offers & Promotions

Like every other bank or money lender, Citibank sometimes offers seasonal promotions for their personal loan products, such as low APR rates, cash coupons, even gifts such as tablets. These sweeteners are no doubt appealing, but as a consumer, you should protect yourself by paying special attention to the fine print of these offers. Loan promotions that advertise low APR rates tend to be limited to specific loan amounts and repayment periods, and they may be modelled based on a different interest rate structure than what you're actually getting. Check that the promotional loan repayment structure is something you would be comfortable committing to first. Welcome gifts such as cash coupons are sometimes given with no strings attached, but in other cases, banks are able to "claw back" the gift if you do not fulfil certain requirements set out in the terms & conditions. Warning: You have to repay your loans. Don't pay any intermediaries.

Citibank Loan Application Supporting Documents

In addition to the eligibility criteria defined above, you're required to submit the following important documents before Citibank can approve your loan:

Proof of income

Citibank accepts several documents to prove your income. It's best to furnish official payroll slips (complete with company stamp/letterhead), but if this is not available, you can also submit your bank statement or account passbook showing your salary deposit record for at least the past three months.

Residential proof

This is any official letter or bill that proves that you are a real resident of the address you provided. It must clearly state both your name and residential address. You may submit your utility bill, mobile phone bill, bank statement, or letter from the government.

Citibank Loan Fees & Charges

APR (interest rate) may be the most prominent cost component of your personal loan, but it is by no means the only one! You should also be aware of the following fees that Citibank may charge in various scenarios.

Handling Fee

Citibank advertises a 0% handling fee for their personal loans, but it is possible that this fee is simply absorbed into the APR. Do compare personal loans across banks to make sure you have the best rate.

Early Repayment Fee

Kudos to you for clearing your personal loan early, but there will be a fee for doing so. This is typically 1.5% of the principal loan amount but it varies a little depending on when exactly you make early repayment.

Change of Repayment Date

It is possible to extend your repayment date, but you will be charged a Daily Extension Fee at the same interest rate of your personal loan. The maximum extension Citibank will grant you is 45 days.

Frequently Asked Questions

How is interest rate calculated for Citibank personal loans?

Take note that Citibank's advertised interest rate may not be exactly the same as the actual APR you are charged. This is because Citibank can choose to charge a higher or lower rate depending on the loan applicant's background and work status.

How long does Citibank take to approve a loan?

For Citibank Speedy Cash, it is possible to get same-day approval, provided you successfully submit all required documents together with a complete application form before noon on a working day. With other Citibank loan types, it may take longer for the bank to verify all your documents.

Can I get a loan for my Citibank credit card?

If you're facing trouble paying off a Citibank credit card, Citibank also has loan services specific to their cards. For example, certain cards are eligible for a flexi-instalment programme, which allows you to repay your credit card balance in manageable instalments.

Does Citibank have an automatic repayment function for their personal loans?

Yes, a good way to avoid being hit by late repayment fees and the like is to set up an AutoPay instruction to settle your monthly instalments. Citibank's All-In-One AutoPay can be used to repay loans (as well as other recurring charges like utility and phone bills). The monthly repayments are automatically debited from your bank account whenever they are due.