Citi Quick Cash
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5.0
1 reviews
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Summary
Citi Quick Cash
Product Page Transparency
- Pays to access additional features
Loan Features & Details
1) Key Features
- Convert your Citi Credit Card/Citi Ready Credit available credit limit into cash that you can pay in monthly installments together with your monthly payment
- Interest rate from 3.45% p.a with no processing fees for current Citi Credit Card or Citibank Ready Credit account holders; interest rate from 3.56% p.a for new Citi customers
- Loan repayment plans range from 1 to 5 years
- Instant loan disbursement for Citi Deposit Account holders or up to 5 working days for non-Citibank account
2) Eligibility
- Citizenship: Singaporeans, PRs, and Foreigners
- Age: 21 – 65 years old
- Minimum income requirement: S$30,000 (Singaporeans and PRs); S$42,000 (Foreigners)
3) Fees
- Processing fee: N.A
- Late payment fee: Outstanding loan will be charged and loan will be terminated if payment is overdued/defaulted by 2 months
- Prepayment repayment penalty: Prepayment is not allowed
- Full repayment penalty: 3% of your unbilled outstanding principal amount or S$100, whichever is higher
4) Application Process
How to apply?
- Head to Citibank’s website to apply for the loan online
- As you will be required to submit income information, have your Singpass ready to access CPF login page
- Complete and submit loan application
- If you encounter any difficulties on your online application, contact Citiphone officers at +65 6225 5225
Supporting documents
- No documents required for existing Citi Credit Card/Citibank Ready Credit for Singaporeans, PRs, and Foreigners
- New Singaporean/PR customers
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Summary
Citi Quick Cash
Product Page Transparency
- Pays to access additional features
Loan Features & Details
1) Key Features
- Convert your Citi Credit Card/Citi Ready Credit available credit limit into cash that you can pay in monthly installments together with your monthly payment
- Interest rate from 3.45% p.a with no processing fees for current Citi Credit Card or Citibank Ready Credit account holders; interest rate from 3.56% p.a for new Citi customers
- Loan repayment plans range from 1 to 5 years
- Instant loan disbursement for Citi Deposit Account holders or up to 5 working days for non-Citibank account
2) Eligibility
- Citizenship: Singaporeans, PRs, and Foreigners
- Age: 21 – 65 years old
- Minimum income requirement: S$30,000 (Singaporeans and PRs); S$42,000 (Foreigners)
3) Fees
- Processing fee: N.A
- Late payment fee: Outstanding loan will be charged and loan will be terminated if payment is overdued/defaulted by 2 months
- Prepayment repayment penalty: Prepayment is not allowed
- Full repayment penalty: 3% of your unbilled outstanding principal amount or S$100, whichever is higher
4) Application Process
How to apply?
- Head to Citibank’s website to apply for the loan online
- As you will be required to submit income information, have your Singpass ready to access CPF login page
- Complete and submit loan application
- If you encounter any difficulties on your online application, contact Citiphone officers at +65 6225 5225
Supporting documents
- No documents required for existing Citi Credit Card/Citibank Ready Credit for Singaporeans, PRs, and Foreigners
- New Singaporean/PR customers
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undefinedundefinedundefinedundefined
Plans (5)
Citi Quick Cash (1 Year Tenure)
6.50%
EFFECTIVE INTEREST RATE
3.56%
FLAT INTEREST RATE
$0
PROCESSING FEE
Reviews (1)
5.0
1 Reviews
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Posted 18 Mar 2022
Purchased
Citi Quick Cash (1 Year Tenure)
[Application Process] Applied via Moneysmart. The application was fast due to me using Singpass Myinfo. Communication was via email, the customer care at Citibank required some additional information. Keep your NOA (notice of assessment), Salary slip and Address proof (mobile connection doesnt work, bank statements preferred) ready. [Cash Disimbursement] The cash came to my DBS account within 5 working days. Citibank submits a cheque to your account that is credited within 24 hours. The statement is sent via email that shows how the repayment plan is structured. [Customer Service] Do not pick calls. However do reply to emails. [Useful For] Fast cash for crunch situations. Low interest rates depending on credit history. Loan can be upto 3X times monthly salary. [Repayment Process] Via phone app, website, cheque/cash at bank branch. Additional charges on cash transactions. [Hidden Terms] Moneysmart rewards have not been processed at 2 months. Usually no rewards if loan less than 10,000$. Citibank may give additional limit and try to hardsell the additional loan amount to you. Just politely refuse and request them to not call again.0
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Citibank Personal Loan Interest Rates for Citi Quick Cash
Tenure (years) | Nominal Interest Rates p.a. | Effective Interest Rates (EIR) p.a. | Processing Fee |
|---|---|---|---|
1 | 3.56% | 6.50% | 0% |
2 | 3.46% | 6.50% | 0% |
3 | 3.45% | 6.50% | 0% |
4 | 3.46% | 6.50% | 0% |
5 | 3.48% | 6.50% | 0% |
For new Citi customers
Features: Pros and cons of Citibank Quick Cash Personal Loan:
- One of the lowest nominal interest rates for personal loans at 0% p.a.
- Effective Interest Rate (EIR) 6.50% p.a. for that 1 year for new applicants
- No documents required and no hidden fees
- Can be used for big ticket items like home renovation, weddings, or urgent expenses like medical bills or repairs
- Upon approval, you can instantly access cash in your Citibank account the next working day
- Alternatively, you have the approved loan amount credited to your choice of account within 3-5 working days.
Compare The Best Personal Loans: Citi Quick Cash
- While the minimum loan amount is S$1000, this plan is not as attractive for borrowers seeking loan amounts smaller than S$20,000
- The interest rates are also higher for existing Citibank customers,
- However, it is not ideal for borrowers looking for longer term loans of more than 3 years
Other Fees: what else to look out for?
- Cancellation Fee: 3% of outstanding unbilled principal amount (or S$100, whichever is higher)
Eligibility: who can apply for Citibank Quick Cash?
- minimum annual income of S$30,000 for Singaporeans and PRs
- minimum annual income of S$42,000 for foreigners
- Citi Quick Cash requires either a Citibank Ready Credit Account or Citi Credit Card
Contact Citibank
Tel: +65 6225 5225
Contact us at [email protected] should you require any assistance or spot any inaccuracies.