With a Citi Card Debt Consolidation Loan, you can consolidate your debts into a lower interest loan making repayment easier.
How It Works
How to Apply
To apply for a Card Debt Consolidation Loan, you will need to fulfill the following requirements:
- Hong Kong permanent resident aged 18 or above
- In full-time employment with present employer for at least 3 months
- Monthly salary of HK$6,000 or above
- The annualized percentage rate (“APR”) ranges from 2.07% to 42.50%, with repayment period of 6 to 60 months. The loan application is subject to the Bank’s approval.
- For a loan amount of HKD200,000 with 12 months repayment period, the monthly flat rate is 0.2% (APR 4.49%), and the total loan repayment amount is HKD204,804 (including full handling fee waiver). The above example is for reference only.
Loan amount of "Debt Consolidation" is up to 21 times of your monthly salary or HK$1,200,000, whichever is lower.
Citibank (Hong Kong) Limited ("Citibank") reserves the right to accept the relevant proof.
Repayment period of "Debt Consolidation" is of 6 to 60 months.
Application hotline service hours: Monday to Friday 9:00am - 7:00pm.
Instant approval result is applicable to selected applications via our website during 8am to 1am on Monday to Friday, 9am to 1am on Saturday and noon to 1am on Sunday & Public Holidays. Citibank reserves the right of final approval decision.
The credit card example shown assumes that a minimum payment is made on a monthly basis (minimum payment being defined as [Statement Balance x 1.5% + Finance Charge], subject to a minimum of HK$50), the monthly interest rate is 2.5%, the Annualized Percentage Rate ("APR") is 34.49% and the monthly repayment is the average of the first 6 month minimum payment rounded up to nearest dollar. For a definition of APR, please refer to clause (g). It also assumes that the monthly flat rate for a Citibank Card Debt Consolidation Loan is 0.28% and the APR is 6.48%, based on a 60 month repayment term. Interest is calculated on the basis of 365 days per year. The above example is an illustration and for reference only. The actual reduction of monthly repayment and total interest is subject to the Terms and Conditions of the customer's current credit card and/or personal loan and final approval of the loan amount and interest rate.
An APR is a reference rate which includes the basic interest rate and other fees and charges of a product expressed as an annualized rate.
Terms and Conditions:Terms and Conditions:
Terms and Conditions of Top up Offer ("Top up Offer")
- The promotion period ("Promotion Period") of the Top up Offer is from January 1, 2018 to March 31, 2018, both dates inclusive.
- The HK$500 Supermarket Cash Coupon ("Cash Coupon") is only applicable to customers ("Eligible Customers") who fulfill all of the following conditions:
- who hold a valid personal loan account with Citibank (Hong Kong) Limited (“Citibank”) at the time of application
- successfully apply within Promotion Period and
- redraw a Citibank Personal Loan with an amount greater or equal to HK$250,000 and repayment term 12 months or above by April 8, 2018.
- A Cash Coupon redemption letter will be mailed to the Eligible Customer's correspondence address on or before May 31, 2018.
- The cash coupons are available while stock lasts. Citibank reserves the right to replace the cash coupons with an alternative gift without prior notice. The cash coupons offered cannot be converted to cash and are not replaceable in the event of any loss or damage. Citibank accepts no liability in respect of the quality of the products or services provided by the cash coupons supplier involved in this promotion. Cash coupons are subject to relevant terms and conditions printed therein. The respective cash coupons suppliers are responsible for all obligations and liabilities in relation to such products or services.
- Eligible Customers' Citibank Personal Loan accounts must be valid and in good condition without late payment or early payment, otherwise Citibank reserves the right to forfeit the eligibility of an Eligible Customer to participate in this promotion and the Eligible Customer shall immediately repay to Citibank the full amount of reward under this promotion.
- If the Eligible Customer is found to have made of early settlement of/ canceled the Citibank Personal Loan, Citibank reserves the right to debit:
- the full amount of the Cash Coupon; AND
- an early repayment fee for his/ her Personal Loan (which is based on a rate on the entire principal amount of the Personal Loan as set out in the drawdown letter)
- All Citibank staff are not eligible to participate in this promotion.
- Citibank reserves the right to amend these Terms and Conditions at any time without prior notice.
- In case of disputes, the decision of Citibank shall be final and conclusive.
- In the event of discrepancy or inconsistency between this English version of the terms and conditions and the Chinese version, the English version shall prevail