Minimum loan amount
Minimum annual income
Apply for a Citi Personal Loan to receive your welcome gift upon loan disbursement. During the application, you will choose between a Physical Gift and a Digital Gift. The welcome gift you’ll receive will depend on the final disbursed amount.
|Below ₱250,000||JBL Flip 5 Speaker||₱5,000 GCash|
|₱250,000 and Above||Marshall Acton II Speaker||₱10,000 GCash|
Promo extended until September 30, 2022. Per DTI Fair Trade No. FTEB-142271. Series of 2022. See full terms here. Want to learn more about your reward's delivery time and more? Check out our FAQs.
This product is sold by Union Bank of the Philippines, using certain trademarks temporarily under license from Citigroup Inc. and related group entities.
Bring your plans to life when you apply for a Citi Personal Loan. With a high loan amount of up to ₱2 million and flexible repayment terms, you can fund your dream business or home improvement projects. Apply now and get approved in as fast as 24 hours!
|Age||21 to 65 years old|
|Minimum Annual Income||P250,000|
|Late payment Fee||P500|
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Part of the financial planning process is to consider applying for a personal loan. After all, you can only stretch your budget so much. If you’re looking for financial aid, Citibank is one of the best banks out there.
Citi’s Personal Loan has a lot of exciting features and unique selling points that make it a better choice over other loan products in the market. Interested? We’ve pulled together a comprehensive guide for you, from this loan’s uses to interest rates.
You can use your Citibank Personal Loan to fund huge expenses that usually take years to save up for. Because of Citibank’s high loan amount, you can use your loan to make life-changing decisions. Here are just some of the most common loan purposes in the Philippines:
To start your journey, you need to meet the following Citi Personal Loan eligibility criteria:
It’s not enough to know if you’re eligible for a Citi personal loan. You also have to make sure that you can afford the monthly loan repayments. For determining the monthly installment that fits your budget, an online loan calculator comes in handy.
Citibank has an online personal loan calculator that you can use to check which repayment term for your target loan amount will work best for your budget.
Here’s how to compute your monthly repayments using the Citibank Online Personal Loan Calculator.
Note: The resulting figures of your calculation are just estimates. They’re subject to change. Remember that your actual amortizations will be reflected in the loan disclosure statement.
Citi personal loan has one of the lowest interest rates in the Philippines. This means the cost of borrowing from Citibank is lower compared to most banks and personal loan providers in the country.
To fully understand how Citibank computes the Citi personal loan interest rate, you should be familiar with the bank’s three types of interest rates and their differences.
Citibank defines the annual contractual rate (ACR) as the interest charged on the personal loan based on a 360-day period. It computes the ACR per month consisting of 30 days. The interest is also calculated on the unpaid daily balance of your loan.
The average ACR for the Citi personal loan is 26.9%. Borrowers can check the ACR in the loan disclosure statement issued upon loan approval.
The monthly interest rate is a revolving interest of 2.42% that’s applied to any or all of the following:
This interest charge, which is compounded monthly, continues to be charged until the total amount due plus accrued interest is fully paid.
To avoid this personal loan fee, make sure to choose a monthly installment amount and loan term that will enable you to make timely repayments on your Citi personal loan.
The effective interest rate (EIR) is “the rate that exactly discounts estimated future cash flows through the life of the loan to the net amount of loan proceeds,” as defined by the Philippine Accounting Standards.
Simply put, it’s the rate a borrower actually pays on a personal loan. The EIR includes the monthly interest charge, disbursement fee, and documentary stamp tax (DST).
The EIR computation depends on your loan amount and loan term, the exact amount of which is reflected in the disclosure statement along with the ACR. For example, if you borrow PHP 200,000 from Citibank and choose to pay it off in 36 months, your EIR will be 32.05%.
Citibank, N.A., Philippine Branch, has transferred ownership of its consumer banking business to Union Bank of the Philippines with effect from August 1, 2022. The trademarks “Citi”, “Citibank”, “Citigroup”, the Arc design, and all similar trademarks and derivations thereof are used temporarily under license by Union Bank of the Philippines from Citigroup Inc. and related group entities. These products are sold by Union Bank of the Philippines, using certain trademarks temporarily under license from Citigroup Inc. and related group entities.
You can loan a minimum of ₱20,000 and a maximum of ₱2 million.
No, you cannot. To prevent identity fraud, loan proceeds will only be released by Citibank solely to the applicant.
This is the process upon receiving approval for your Citibank Loan.
- Choose a method of disbursement:
- Credit to your bank account
- Delivery of a manager’s check to your address
- Sign the Loan Disclosure Agreement (LDS).
- Prepare post-dated checks as scheduled in the LDS.
- Loan proceeds will be released after sending the post-dated checks.
A Citi Personal Loan application can be processed in as fast as 24 hours. Just make sure that your documents are complete when you submit these.
You will receive a call from Citibank to arrange your loan disbursement. To follow up on your application, call their hotline at 8995 9999.
You can head to the Citi Personal Loan website and use the online loan calculator to check your estimated monthly payments.
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