Hi all,
I'm sure this is not for everyone but found interesting one.
Personal loan rate that rewards you for a great VedaScore band – from as low as 3.9% p.a. for 3 years.
So this is how it works:
If you're on Excellent rating: 3.9%
Good rating: 4.9%
- Access cash or transfer a balance of up to 80% of your credit limit at the promotional rate
- $129 establishment fee
- No monthly or annual fees
- No early payout fees, if you want to accelerate payments
- A standard variable rate of 19.49% p.a. applies to balances outside of the promotional offer
Fine Prints:
Important Information.
Fees and charges apply. Terms and conditions apply and are available upon request. Credit criteria apply. Existing Ready Credit, Personal Credit and Business Credit customers are not eligible to apply for this introductory offer.
Based on your Veda Risk Band, you will be provisionally offered a promotional interest rate. Access to this promotional rate is subject to Citibank's assessment of your application according to its standard credit criteria. The promotional interest rate from Citibank applies to balances transferred with this offer at point of application and cheques-to-self with this offer within 90 days of account opening. Payments are applied to BT amounts before cash advances and retail purchases, and if your account has more than one BT, the BT at the lowest interest rate will be repaid first.
A credit line of between $5,000 and $60,000 will be assigned based on our credit criteria and your credit rating. You can borrow funds from Citibank at the promotional interest rate by a BPAY balance transfer, or by a cheque. If you choose to receive funds using a cheque, this will be treated as a balance transfer (BT) for the purposes of your terms and conditions and statements. You can borrow up to 80% of your credit limit. Minimum income required is $35,000 a year.
The Establishment Fee will be debited to your Citibank Account on the date we issue you a statement of Account for the Statement Period in which you first use or activate your Account.
Other service fees and charges including late payment fee and dishonor fee may apply.
At the end of the promotional period, the interest rate will revert to the Citibank Ready Credit standard Annual Percentage Rate, currently 19.49% p.a. Interest rates are variable and subject to change.
Before refinancing my home loan from CBA to UBank I read Product Review posts about UBank. Most say the bank is abysmal and the refinancing process was terrible. Yet, my refinance was virtually hassle free and all done within 20 working days. Couldn't be happier. Take away message: people who got a raw deal are far more likely to complain than happy customers are to write positive feedback.
A friend applied for a 3 year 4.9% loan from Citibank and reported that despite his spotty credit record he was approved no problems.