Citi Ready Credit
- Interest Rate (p.a.)
- 9.99%
- Min Loan Amount
- $5,000
Summary
Access your funds with a Visa Debit Card. There are no annual or monthly fees, but the loan has an application fee of $149.
Citi Ready Credit - Fixed Payment Option is an unsecured line of credit. It offers a special introductory rate starting from 9.99% p.a. for 4 years. This loan also features complimentary insurance policies such as Guaranteed Pricing Cover, Warranty Extension of up to 12 months and Purchase Protection Cover. The loan has no monthly or redraw fees, and you can access your funds with a Visa Debit Card. Your repayments may vary monthly. The minimum payment includes interest, a fee of 1% of your account balance and any late fees, if applicable.
Pros
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$0 monthly fee to pay
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No extra payment for early payouts
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Additional repayments allowed
Cons
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Application fee of $149 required
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Must have a good credit rating
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Late fee of $10
Details
Product details
| Product Name | Citibank Ready Credit - Fixed Payment Option |
| Interest Rate (p.a.) | 9.99% |
| Interest Rate Type | Fixed |
| Min Loan Amount | $5,000 |
| Max. Loan Amount | $75,000 |
| Loan Security | Secured |
How does Citi Ready Credit - Fixed Payment Option work
One of the main purposes of Citi Ready Credit is to provide you with a standby fund to finance your planned big purchases. In addition, you can also use this product to combine some of your other high-interest debts together in one account. The loan has no monthly or redraw fees, and you can even access your funds with a Visa Debit Card.
How to Apply?
If you would like to apply online for Citibank Ready Credit - Fixed Payment Option, click "Go to Site" to get started. Filling out the application form will take you about 15 minutes. The bank will send you conditional approval within one business day after you submit your application.
To be eligible you must be 18 years or older and a permanent Australian resident. You'll also need to have a good credit rating and a taxable annual income of at least $40,000.
You'll be required to provide the following information:
- Personal details
- Your employer's details and contact information
- Information regarding your income, assets, debts and present credit accounts
Features of this Loan
- Introductory rate. You can take advantage of a special introductory fixed payment option of 9.99% p.a. for 4 years.
- Loan amount. This loan provides you with a minimum amount of $5,000 and a maximum amount of $75,000. Once your loan amount has been approved, Citi will issue a cheque in your name.
- Fees. Citibank Ready Credit - Fixed Payment Option has and application fee of $149 but does not attract any annual or monthly service fees.
- Repayments. Your repayment amounts are calculated monthly. The minimum payment due includes any interest charges, a fee of 1% of your account balance, and any applicable late payment fees, and will be clearly listed on your statement. (If your balance is under $30, the total amount will need to be paid.)
- Early repayment allowed. You can pay off your loan early without incurring any fees.