8.90% (variable)
Interest Rate (p.a.)
9.18%
Comparison Rate (p.a.)
❗ $5,000 $2000 (updated in September)
Min Loan Amount
Pay off your loan early
Make additional repayments or pay off your loan early, with no fee
Seems like a good way to earn 150,000 points.
I've never had a personal loan, but seem like i'll be applying for one today!
Its nice to see citibanks customer service is still just as terrible now that nab own it, as it was when citi owned it,
Haha, could not agree with you more, we need to "DIY" with any issue and not depend on their customer service people as they always stuff up.
So when we activate the card, does the 5k loan get moved to your nominated bank account, then you pay back $4800 of it right away?
That was exactly what I did, as long as you nominated an account to credit the funds to during the application.
Thanks, how long did it take after activation. Seems to be taking a while for me
Just got an email about 5% cashback (up to $50 back) on this lending account. Wondering what the effect would be?
I have a spend $300 get $50 gift card.
To be eligible to receive a $50 eGift Card, you must enrol for this offer by 11.59pm AEST on 4 September 2022, receive confirmation that you have successfully enrolled for this offer via the linked landing page and spend $300 or more on Retail Purchases and Cash Advances from 1 September 2022 to 31 October 2022 (Promotion Period). Balance Transfers, refunds, Chargebacks and Special Promotions do not contribute to the spend threshold. A $50 eGift Card from your choice of Myer, Woolworths or JB Hi-Fi will be available for redemption by you within 10 weeks from the end of the Promotion Period providing your Account is open and in good standing. We will send you a unique code and instructions on how to redeem your eGift Card via email. You must redeem your eGift Card before the expiry date. Redemption may not be reversed, cancelled or changed. eGift Cards are non-reloadable and non-redeemable for cash.
What is the interest rate of purchasing and cash advance?
That's better, as I'd need to spend $1K to get maximum of $50 (it's a cashback though): From 1 September 2022 to 31 October 2022, spend $300 or more on your account ending in 3539 to get 5% cashback (up to $50)
Hmm… will it void the 150000 velocity point if we click it?? Does it valid with other promotional offer ??
I don't think it'd be that case. Doesn't say anything and usually Citi promo are separate. But I just read that they'd only pay within 10 weeks after end date, which is difficult to do if we plan to pay it out/close the account after we get the points.
@hanofee: The Velocity Frequent Flyer Points will be credited to your Velocity Frequent Flyer account within 90 days from the date we receive your Velocity Frequent Flyer membership number provided your Citi Personal Loan Plus account is open and in good standing and your loan has not been repaid in full.
I will use this to pay my zip and immediately pay it back. Not sure if payment to zip is eligible.
has any one got points yet?
If I don't have another Citibank account do I need to wait for first statement to get account details to transfer back?
Log in using your username and password on their website, you will find the BSB and acct no, which you can transfer your fund into.
I'm wondering if existing Virgin Money - Velocity Flyer Card holders are eligible for this?
I had a Flyer card around February this year and cancelled it in early August. I only just realised that the Flyer is owned by Citibank.
Any ideas?
I have a Virgin Money - Velocity frequent flyer card and I also applied for this deal and was approved. I was recently requested by Citi to provide my velocity frequent flyer card number so although it looks promising I will believe it when the points are in my account!
Thanks mate :)
got rejected instantly after applying didn't even have to wait for it to think. I have an open citi card and recently closed a suncorp card in last few months.
was told i can't apply for 3 months. will move on to my regular churns.
Yeah same as me. Think it's something to do with the Suncorp card.
Seems like it's been revised to a different webpage with minimum $2000 loan.
https://www1.citibank.com.au/LoansOnline/personal-loan-plus-…
Nice
$2000 min now??
What is everyones experience with them requesting your Velocity number? How many days after the account opening did they contact you?
Still waiting after 10 days. Seems they sent the emails for the last lot all at the same time
very annoying. they rejected my application without providing any feedback. I have 1 active card with full repayments history with no debt/no mortgage etc and I m certain my income is more than enough to apply for $2000.
I only applied for $2000 . Called them to complain and they can' tell me anything other than based on the application….
First time getting rejected for my credit application. better do the normal regular churns :(
I avoid Citibank due to numerous instant rejection stories on ozbargain
Not worth the risk
I got rejected as well, had 1 Citi credit card open and closed another within the last few months. Didn't get a credit check on any of my files though which was good.
Yeah, I just got rejected too. Super annoying and it was certainly within my credit ability. I sincerely hope they haven't damaged my credit score. I'll be avoiding Citibank from now on.
Anyone know, Is it normal for current balance to be $0 even though I owe $400 and available credit limit is $4600 on a $5000 credit limit?
Same here, I think the current balance will only be updated once your next statement is issued.
Thanks - good to know… just wanted to make sure I was eligible - will keep an eye out for the statement.
Many thanks OP. Loan applied for at 10am today, and approve 1:30pm today!
looks like 2nd round of requests for vff membership number just came out for those who missed the first. email received 5pm aest on the t
Yep got mine just now as well
warning, if you have any spend and try to pay for it, it will go toward to the Fixed Payment Option (FPO, which is you initial loan). I repay some money and end up closing my FPO and now I may be eligible for the sign up bonus point.
ahhh why did you spend on it if you were going to pay it off instantly anyway?
There is a spend $300 get $50 gift card promotion.
Thinking about applying for this tonight + getting my wife to apply for it, basically a free return international flight each. Good deal if just the yearly fee and a bit of interest prior to receiving the points.
Has anyone been approved for $2000? Thinking they may reject based on income/savings pointing to it not being required, may be worth applying for $5000 and paying back most of it immediately.
I was accepted with $2500 late last week.
Thanks, I have applied for $2500 and it is currently at their review stage.
I thought the same thing and went for $5k instead of $2k. Got rejected despite having an excellent credit score and being easily within my repayment capacity. I won't be dealing with Citibank again.
I luckily only put in $3k originally and then got a slider for between 2-3k, where I changed it to $2.5k. Think being in my current job for less than a year may have been a factor, not much else should have impacted the amount.
I got approved for $6000 despite having about $30K of credit cards already (my income is minimum double that). No mortgage, but savings are with Citibank at the moment and had a Citi Rewards Card with the same credit limit that I closed earlier this year. Always made repayments on time.
Yep just got approved for $2k
i just applied for this and waiting approval (https://www.ozbargain.com.au/node/725401) reckon this would hinder my chances in being approved for the personal loan?
Both at the same time from the same institution is a bit risky.
Ok once you get the loan amount what are you meant to do?
Anyone been approved for the 2k and been asked about the velocity points? didnt take screenshot of the terms and see updated conditions now is 10k minimum for points
thank you, managed to find a copy online of the old terms
Can you pm me the link? I too applied for the 2k loan and got approved. Hopefully I get the points as well.
Could you also pm me the link to the old terms, would be very helpful, thanks a lot!
please share with me too. Thanks.
did anyone get the points credited? (those who applied in July/Aug)
i'm still waiting. got the email and accepted same day 24/08
I won a bit of Velocity from their lottery (with my Citi cc back in July). Submitted 04/08, got it on 27/09 (~ 8 weeks). For this loan, I submitted on 24/08 as many others, so probably another 2 weeks before we get the point, if it's similar processing time.
Hope they credit it quick. want to close off the loan
@hanofee: Thanks for reminding mate.. just checked n can see the points were added to my account. Time to close the citi account 😊😊😊
Hello all, I have not yet received any email requesting my velocity number.
Applied on 13 Aug >> Approved on 16 Aug >> Activated on 22 Aug.
Should I call their customer care and enquire?
Does anyone have a screenshot of this offer, seems they updated it to 10k Loan but I've applied before end of September when it was 2k minimum
Seems I need to go to specsavers lol screenshot also teeny tiny on both laptop and mobile
when will citi take out the establishment fee?
When your first statement is issued
Anyone got their points yet?
not me.
Neither
still waiting as well. almost 3 months now since initial application?
Just got another monthly statement. I think this makes the points late now.
'Your Velocity Points will be added to your Velocity Frequent Flyer account within 90 days of us receiving your member number.'
Ah right… so late November for me will be the 90 day mark.
Yep…..looks like they're really holding out on this one.
Can anyone please help me here…how do i actually activate my account? i tried to move money to my citidebit and it wouldn't allow me too. I'm very confused.
Did you get your debit card? You need to activate that. Then in a few days, the loan amount will be deposited into the bank account you nominated to receive funds into
Points landed for me
When did you apply and when did you get asked to provide your Velocity number for the points?
Similar to below,
15/07-apply
19/07-approved
24/08-velocity number provided
21/10-100k+50k, backdated to 19/07
can you let me know how much of the loan you paid off in advance before closing it out? i paid $1980 back of a 2k loan, now just waiting to pay off the rest
@The Delray Misfits: 25/07-5000 received
25/07-4599 repaid
19/08-199 est fee paid
16/09-13 repaid
19/09-13 repaid
20/09-12.33 repaid
20/10-12.32 repaid
21/10-369.05 repaid 0 remaining (pending)
@hellobasilcheese: Have you got your points yet? Be careful as paying the loan in full could invalidate your bonus points. I'd wait until you actually receive your points in your velocity account before paying it off in full…
@hellobasilcheese: dumb question where do you see your points, in your citi lending account or straight to vff account?
@hellobasilcheese: Do you think it's possible to leave $100 left against the loan? I thought they were going to charge $30 per month or whichever is higher based on the loan amount.
@nightelves: well, I can only speak of my experience and min $30 repayment per month did not apply so I would say your idea is fine.
14/07 - applied
20/07 - approved
22/08 - 1st statement received
24/08 - VFF membership number provided
29/08 - 5% cashback offer activated
20/09 - 2nd statement received
20/10 - 3rd statement received
21/10 - 100k and 50k bonus points received backdated to 15/07
Just waiting on the cashback to be credited then time to close the account and onto the next churn!
thanks
basically a 3 month turnaround
How to close the loan, do you need to call to get a payout figure?
Points for me also!
Nice! it's raining points.
How are Citi asking for the VFF number? Is it by email? I received first statement on October 9 and haven't received any request for VFF yet.
Same here :'(
just activated mine last week. the previous ff nunber requests came around the 25th of the month so hoping it comes soon
I haven't been asked yet. Activated mine on the 3rd and just received first statement today.
Of course, might have used wrong link to sign up
Yeah. Got the email today to update the velocity number