- Interest Rate (p.a.)
5.67% - 5.95%
- Loan Tenure
3 - 7 years
- Approval Duration
To be advised upon documents submission
- Min. monthly income
Consolidate all outstanding balances into one account with rates starting from 10.5% EIR p.a.
Start building healthy credit score by consolidating all unsecured credits and personal loans for a lower monthly repayments. Receive complimentary insurance coverage of up to S$160,000 & credit card with 1X monthly income limit too!
What's so great about Citi Debt Consolidation Plan?
- Consolidate all unsecured credits facilities for lower monthly repayments
- Flexible tenures of up to 7 years
- Complimentary insurance protection with coverage of up to S$160,000
- Credit card with limit of 1X your monthly income
|Min. financing amount||At least 12 times of monthly income|
|Max.financing amount|| To be advised by the bank|
|Min. loan tenure||3 years|
|Max. loan tenure||7 years|
|Interest rate||Effective interest rate of 10.5% p.a.|
|Approval duration||To be advised upon documents submission|
Fees & Charges
|One time set up|
|Age requirement||Age 21 - 65|
|Employment eligibility||For Singaporeans and PRs only, salaried employees with annual income between S$30,000 and less than S$120,000 (or at least S$60,000 if you are not exisiting Citibank customer), with Net Personal Assets of less than S$2mil.|
|Min. salary requirement||S$2,500 gross per month|
|Need to open linked banked account?||N/A|
|Other details||Have a total interest-bearing outstanding balances on credit cards and/or unsecured credit facilities of at least 12 times your monthly salary|
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Citibank Debt Consolidation Plan - FAQ
How much can I borrow?
You can borrow a total amount that is equivalent to the total outstanding including interest and any other fees accruing to your credit accounts plus an additional 5% allowance above the total Debt Consolidation Plan amount.
Who can apply?
Applicant must be a Singaporean citizen or permanent resident
Salaried employee with annual income between S$30,000 and S$120,000 (existing Citibank customer), or at least S$60,000 (new Citibank customer); with Net Personal Assets of less than S$2 millions
Have total interest-bearing outstanding balances on unsecured credit facilities of at least 12X of monthly income
Citibank Debt Consolidation Plan excludes credit facilities like renovation loan, education loan, medical loan, credit facility granted for business purposes and/or outstanding balances under joint accounts
How long will the application take and what documentations are required?
You will be redirected to Citibank's website to complete the application for Citibank Debt Consolidation Plan
You are required to furnish the following documents for your loan application:
- Completed and signed application form
- Photocopy of NRIC (both sides)
- Latest copy of Credit Bureau Report
- Latest Computerized Payslip; OR
- CPF Contribution Statement for past 12 months (applicable to applicants with monthly income of S$6,000 or less); OR
- Latest Income Tax Notice of Assessment (NOA)
- Proof of outstanding balances (billed and unbilled) for all unsecured credit facilities such as statements and/or confirmation letter
Can you apply if you have a bad credit score in CBS/ FICO/ DP credit bureau?
Your personal loan application is likely to get rejected if you have a bad credit score. Late payments or missed payments are some of the major are some of the major contributors to a bad credit score. If you currently have an unsatisfactory credit score, take steps to rebuild it by clearing overdue payments. Make full and timely payments on your debts for 6 months before reapplying.
If you are looking for personal loans offered by other banks in the Singapore, you may also consider:Standard Chartered CashOne
Dash Advance Personal Loan
You can also take a look at the full line-up of Quick Approval Personal Loans in Singapore listed on our website and choose which is the right one for you.