Seek financial freedom with
Citi Debt Consolidation Reduction Plan.
Take control of one’s finances and combine all of your debts into a loan that is single Citi debt consolidation reduction Arrange, at no processing cost. Enjoy lower rate of interest for affordable month-to-month fixed payment. Intending to refinance your financial troubles with us? Simply click to the “How to Refinance” tab for lots more details.
ADVANTAGES
No processing cost
Lower rate of interest
Capability of making payment to a single bank
Choice to select a loan tenure as high as 7 years
A charge card with restriction of 1X your month-to-month earnings
Reduced monthly repayments
HOW IT OPERATES
James has an overall total outstanding balance of
Past Payment
All Banks’ Credit Cards and / or signature loans
James will pay to numerous banking institutions a complete sum that is monthly of2,000 at prevailing rate of interest.
Brand New Payment Per Month
Citi Debt Consolidation Reduction Arrange
Underneath the Citi debt consolidating Plan, James will probably pay a lower interest and fixed payment that is monthly of1,011.64.
With Citi debt consolidating Plan, James happens to be in a position to consolidate all their outstanding balances with Citi and pay his debts down overtime. Utilizing the interest cost savings, James can also be in a position to better handle their funds to their cost of living and commitments.
The aforementioned is in the presumption that the whole outstanding stability of S$60,000, presently at an effective rate of interest of 25% p.a. for a tenure of 7 years, is utilized in Citibank and consolidated into a unique 7-year installment loan at a very good rate of interest of 10.5per cent p.a.
ELIGIBILITY
21 years of age & above
Yearly earnings between
Yearly earnings between S$30,000 much less than S$120,000 (at the least S$48,000 if you should be not an Citibank that is existing customer, with Net private Assets of significantly less than S$2 million.
A duplicate of your NRIC/passport, latest original computerized payslip or Tax Notice of Assessment or last one year CPF statement.
You’re going to be necessary to have total interest-bearing outstanding balances on the bank cards and/or unsecured credit facilities of at the least 12 times your month-to-month earnings.
SIMPLE TIPS TO APPLY
To try to get the Citi Debt Consolodation Arrange:
Click the link to submit your
details for people to call you straight back.
Just click here to submit your details for us to phone you straight back.
Contact us at 6397 4888
You will have to submit the after papers to apply:
Done and finalized application form.
Copy of NRIC ( back and front);
Latest content of one’s Credit Bureau Report.
Latest earnings papers (dated within last a couple of months):
– Latest computerized payslip; or
– Latest earnings Tax Notice of Assessment; or
– Latest one year’ CPF Contribution History declaration (just applicable for earnings earner of S$6,000 or less monthly)
Proof of balances (billed and unbilled) for all you bank cards and/or credit that is unsecured such as for example statements and confirmation letters.
Citibank Debt Consolidating Plan
What is Debt Consolidation Reduction Plan (DCP)?
Could I submit an application for a DCP with a Participating FI that i will be maybe not a client with?
Am I able to combine the outstanding under an renovation that is existing, training loan and joint account under DCP?
No, the DCP excludes any renovation loan, education loan, medical loan, credit facility awarded for organizations or business purposes and/or outstanding debts under joint accounts.
In recognition associated with purposeful or needs-based nature of these loans, MAS has exempted them through the industry-wide and per-FI borrowing limitations.
What’s going to end up being the total DCP amount?
The DCP quantity is comparable to the sum total principal outstanding including interest and any other costs and/or charges accruing on your own statement records plus an extra 5% allowance in addition to the total DCP quantity, for the DCP that is first.
If the authorized DCP Amount is inadequate to settle your outstanding under any current unsecured credit facilities in complete, you may stay in charge of paying down the stability among these quantities right to your current FIs.
What’s the intent behind the excess 5% in addition to the total DCP amount?
Its to take care of any incidental costs (age.g. interest and charges payable) incurred from the time the DCP is approved till enough time the DCP that is disbursed is gotten because of the finance institutions.
Am I able to do a consolidation that is partial of balances?
No, DCP needs to be done in complete with one Participating FI so you may spend your total down outstanding amounts with just one FI.
Could I continue using my current credit facilities once I submit an application for DCP but before it is being qualified?
No. Further usage of current unsecured credit facilities won’t be permitted as soon as a debtor title loans online Virginia direct lenders decides to uses up the DCP.
If the authorized DCP Amount is insufficient to settle your outstanding under any current unsecured credit facilities in complete, you shall stay completely accountable for the repayment of any extra costs / costs / shortfall incurred prior to the stipulations regulating such DCP. Your responsibilities under such credit that is unsecured shall remain unchanged and continue.
Can I have the ability to keep using my unsecured credit facilities once my DCP application is authorized?
No, your unsecured credit facilities are going to be suspended or closed as soon as your DCP application is approved. Nevertheless, you might be nevertheless able to utilize the 1x revolving credit center.