Citi Ready Credit – Rates and Fees
Take control of your debt with a low balance transfer offer and keep your repayments low.
Citi Ready Credit is a personal loan that is linked with a Mastercard Debit Card, giving you more flexibility with your spending. With the convenience of a card, you can redraw funds easily and enjoy a competitive interest rate.
The personal loan also comes with a competitive transfer rate of 6.90% p.a. for the first 3 years months, allowing you to redraw funds of up to $75,000 to repay other loan and credit card debts and regain control of your finances.
Ready Credit has no fixed payment term, giving you the flexibility to make repayments at your own pace and access your account using ATMs across the world with your Mastercard.
Interest Rate (p.a.)
Min Loan Amount
Main points to consider about the Citi Ready Credit
The Citi Ready Credit personal loan offers a line of credit that can be used like a credit card. The finance facility offered by Ready Credit comes with a credit limit of up to $75,000, a competitive introductory rate of 6.9% p.a. and no fixed term so that you can make repayments at your own pace. The loan may be suitable for those looking to free up cash for everyday expenses or bigger purchases, or for people looking to consolidate debt and save on interest fees.
Features of the Citi Ready Credit
- Introductory offer. The Citi Ready Credit personal loan comes with a competitive introductory rate of 6.9% p.a. on purchases and the initial balance for the first 3 years. The standard variable rate of 20.49% p.a. will apply to balances after 3 years.
- Cheque to self. You can request for a cheque to be sent to you as soon as your loan is approved so you can access 80% of your credit limit and take advantage of the competitive interest offer even without transferring your balance.
- No monthly fees. The Citi Ready Credit features $0 monthly fees.
- Security features. Customers get to benefit from purchase cover insurance whenever they shop using their Mastercard Debit Card, which covers theft, damage or loss of a wide range of personal items purchased in stores across the globe. Citi also offers a secure transaction platform that is encrypted using the latest technology so you can make online payments with your card with confidence. In addition, you also get extended warranty insurance on personal goods purchased with your Mastercard.
Costs to consider
- Fees and charges. The Citi Ready Credit accounts come with a $199 establishment fee. The loan has no transaction or account-keeping fees.
- Interest rate. The loan comes with a competitive introductory rate of 6.9% p.a. for the first 36 months, allowing you to transfer your balance from other cards or loans and consolidate your debt for faster repayment. After the introductory rate expires, the loan reverts to a standard rate of 20.49% p.a.
- Loan repayments. The loan comes with flexible monthly repayments and the option to make additional repayments with no penalties. There is no fixed term on the loan, meaning that you can make payments for a loan amount of between $5,000 and a maximum of $75,000 at your own pace.
How to apply for the Citi Ready Credit
Apply online for a Citi Ready Credit today and find out if you qualify for the loan in a matter of minutes. The following are the eligibility criteria you will need to meet.
- You must earn more than $40,000 p.a.
- The bank will examine your credit file to determine if you are creditworthy and whether you have past defaults or other credit infringements.
- You must be 18 years and above to be approved for the loan.
You will also need to provide the following as part of your application:
- Personal details such as your name and address.
- Identification that you are an Australian resident.
- Your financial information including your income and details of other loans and cards.
- Information regarding your employment.
Personal Loan OffersImportant Information*
You'll receive a fixed rate between 6.99% p.a. and 25.69% p.a. based on your risk profile.
Apply for a loan up to $50,000 and repay your loan over 3 or 5 years terms.
You'll receive a fixed rate between 9.99% p.a. and 18.99% p.a. ( 10.88% p.a. to 19.83% p.a. comparison rate) based on your risk profile
An unsecured loan up to $55,000 you can use for a range of purposes and pay off over up to 7 years. Note: Majority of customers will get the headline rate of 12.69% p.a. (13.56% p.a. comparison rate) or less. See Comparison rate warning in (i) above.
You'll receive a fixed rate between 7.5% p.a. and 20.49% p.a. based on your risk profile
A loan from $10,000 to use for a range of purposes. Benefit from no ongoing fees and no early repayment fee.
You'll receive a fixed rate between 7.95% p.a. and 16.95% p.a. based on your risk profile
A loan from $5,000 to use for a range of purposes. Make additional repayments or pay off the loan early, penalty-free.