Citibank Ready Credit

Get a personal line of credit at a competitive rate of 3.99% p.a. on balance transfers for 3 years.

With a Citibank Ready Credit line of credit you can transfer the balance of your existing debt to the new loan and receive an introductory competitive rate of 3.99% p.a. for 3 years.
This loan also allows you to:

  • Make fee-free additional repayments
  • Repay early without penalty
  • Access fee-free cash advances
  • Choose your own monthly repayments above the minimum required
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3.99% (fixed)

Interest Rate (p.a.)


Min Loan Amount

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Product NameCiti Ready Credit (3 Years Balance Transfer)
Interest Rate (p.a.)3.99% (fixed)
Interest Rate TypeFixed
Min Loan Amount$5,000
Max. Loan Amount$75,000
Loan SecurityUnsecured

Things to consider about the Citibank Ready Credit line of credit

The Citibank Ready Credit loan is unlike a standard personal loan. It's actually an unsecured line of credit that gives borrowers the ability to transfer existing credit balances to their new loan to consolidate their debt. This loan has a 3-year introductory rate of 3.99% p.a.. on initial balances transferred.

You must request a balance transfer on this loan within 90 days of your loan being approved in order to qualify for this promotional rate. If you do not request a balance transfer in this time, you will be required to pay the standard variable APR, currently 20.49% p.a. Balance transfers are repaid before cash advances, retail purchases and the establishment fee, which attracts interest at the standard variable APR. Balances from other unsecured Citi credit products cannot be transferred to this product. After 3 years, the rate on this loan will rise to the standard variable APR, or borrowers have the option pay off eligible purchases at a fixed interest rate over a set term with a Citi Instalment Plan.

Features that come with the Citibank Ready Credit line of credit

There are several features and benefits that come with this loan, including:

  • Special offer. This loan has a competitive 3-year balance transfer special offer rate of 3.99% p.a.
  • Revolving line of credit. This product is a revolving line of credit, with no set loan term.
  • Credit limit. The credit limit that Citibank approves you for will depend on your income, financial circumstances and credit rating. Please note that Citi reserves the right to reduce your credit limit at any time.
  • Variable rate. After the 3-year introductory period, this loan will have a variable rate and is therefore subject to change.
  • Unsecured. This finance product does not require asset security.
  • Flexible repayments. Choose your own monthly repayments over the minimum required.
  • Penalty-free extra repayments. Make additional repayments or pay off your loan early without being charged.

How much does this line of credit cost?

It's important to understand all the fees and charges that come with a loan before you apply:

  • Interest rate. The introductory rate for this line of credit is 3.99% p.a. After the introductory period, the rate is currently set at Establishment fee. There is a $199 establishment fee for this loan.
  • Late payment fee. If you miss a payment, you can expect to pay a fee of $30
  • Overlimit fee. If you go over your agreed credit limit, Citi won't necessarily disallow the transaction, but it may charge you a fee of $40.
  • Dishonour fee. A dishonour fee of $15 applies to this loan.

Additional fees and charges may apply.

Fees you don't have to pay:

  • Monthly account-keeping fees
  • Additional repayment fees
  • Early terminational fees
  • Cash advance fees

Here's how you can apply

You can apply for this line of credit loan by clicking "Go to site". First, make sure you meet the eligibility criteria as outlined below:

  • You're over the age of 18
  • You're an Australian citizen/permanent resident
  • You earn over $40,000 per year

If you meet the above criteria, then you may be eligible to apply for a Citibank Ready Credit line of credit. To complete your application, you will likely need the following:

  • Your driver's licence or passport
  • Your address and contact details
  • Information regarding your outstanding debts (if any)
  • Details of your employment, such as your employer's name and how long you've worked there
  • Details of how much you earn and information regarding your finances

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