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Citi Ready Credit Flexible Personal Loan

Advertiser disclosure
Interest rate from
5.90% p.a.
Comparison rate from
n/a
Upfront fee
$199

Mozo editorial review Citi Ready Credit Flexible Personal Loan

Last updated: 16 June 2020.

binocular icon
What's hot
  • 3 year 6.90% variable rate
  • 2019 Mozo Experts Choice winner
  • Extra repayments available
What's not
  • $199 application fee
Mozo snapshot

If you’re after a line of credit, look no further than the 2019 Mozo Experts Choice Award winner for Best Personal Line of Credit, Citi Bank. The Citi Ready Credit Flexible Personal loan offers a competitive introductory 3 year variable rate of 6.90% plus offers extra repayments and a redraw facility. Whether you need a little or a lot, Citi have you covered between $5,000 and $75,000 so you are ready for whatever costs life throws your way. 

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Key features

Need something a little more versatile than your standard secured or unsecured loan? The Citi Ready Credit Flexible Personal Loan could be exactly what you need to fund your purchases.  

Citi Bank are offering an attractive introductory 3 year 6.90% variable rate on lines of credit anywhere from $5,000 to $75,000. Plus, there are no ongoing fees for the life of the loan. 

But that’s not all! Borrowers can make extra repayments towards their line of credit without penalty and also redraw funds later on if they need to. However, while it may be beneficial to pay down your loan early, borrowers that are late on making their minimum repayments may be subject to a $30 penalty fee every time. 

Also bear in mind, that there is a one-off $199 fee when you first apply for the Citi Ready Credit Flexible Personal Loan. 


snapshot
Who is it good for

This line of credit might suit someone who needs funding for a few different purchases rather than just a large one-off buy. It may be a great solution for a person wanting access to funds over a few years and who could benefit from a lower introductory interest rate.

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Any catches

While the 3 year introductory interest rate is pretty hot, just remember that after the offer ends the standard 20.49% interest rate applies. Plus, you need to be earning more than $40,000 per year to qualify for this product. 

Details

Rates and fees information correct as at 28 October 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • Variable

  • 5.90% p.a.variable

  • n/a

Fees
  • $199.00

  • $0.00

  • $30.00

  • $0.00

  • $0.00

Other financial bits
  • $5,000.00

  • $75,000.00

  • 1 Year

  • 1 Year

  • Unsecured

Features
  • Monthly

  • yes

  • yes

  • none

  • 5.90% for 1 years on loans up to $75,000, with any unpaid amount reverting to 20.49% variable rate after that.

WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

Customer Reviews

How are Citi personal loans rated by the Mozo community?

Overall
4.8/10
Price
5.3/10
Features
4.8/10
Customer service
4.7/10
Convenience
4.7/10
Trust
4.6/10

Latest reviews of Citi Ready Credit Flexible Personal Loan

  • Overall 2/10
    High rates, poor online and woeful communication.

    A mass marketing campaign sucked me in, and now my goal is to get out as quick as possible. Exorbitant interest rates and charges, a website that is slow to update to the point a payment made can sometimes not show for 2 days. Where you can expect a barely intelligible call from an overseas call centre.

    Read full review

    A mass marketing campaign sucked me in, and now my goal is to get out as quick as possible. Exorbitant interest rates and charges, a website that is slow to update to the point a payment made can sometimes not show for 2 days. Where you can expect a barely intelligible call from an overseas call centre.

    Price
    2/10
    Features
    1/10
    Customer service
    2/10
    Convenience
    4/10
    Trust
    2/10
    Less
    Darren, New South Wales reviewed 11 months ago
  • Overall 2/10
    Nothing great about their service

    Nothing to rave about

    Read full review

    Nothing to rave about

    Price
    5/10
    Features
    -
    Customer service
    -
    Convenience
    -
    Trust
    -
    Less
    Kylie, New South Wales reviewed almost 4 years ago
  • Overall 9/10
    Great rates with efficient responsive service

    I wanted to consolidate and applied online for a Citibank loan. It was simple, quick and efficient. I was surprised how quick the response back to me was. I was sent in the mail the necessary paperwork with contact numbers and details - contacted them directly and the customer service lady was terrific, explaining all i needed to know. The whole process has been surprisingly easy, so much so I kept thinking there must be more to this - but nope, all has gone very smoothly with no issues at all.

    Read full review

    I wanted to consolidate and applied online for a Citibank loan. It was simple, quick and efficient. I was surprised how quick the response back to me was. I was sent in the mail the necessary paperwork with contact numbers and details - contacted them directly and the customer service lady was terrific, explaining all i needed to know. The whole process has been surprisingly easy, so much so I kept thinking there must be more to this - but nope, all has gone very smoothly with no issues at all.

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    5/10
    Less
    Pauline, Victoria reviewed over 4 years ago
  • Overall 8/10
    Nice and easy loan

    Online banking system is easy to use, statements are all password protected. Very smooth process.

    Read full review

    Online banking system is easy to use, statements are all password protected. Very smooth process.

    Price
    6/10
    Features
    5/10
    Customer service
    9/10
    Convenience
    8/10
    Trust
    6/10
    Less
    Charlotte, Australian Capital Territory reviewed over 4 years ago
  • Overall 2/10
    Poor decisioning and bad customer service

    I was looking for a Personal loan for about 20k and few of the comparsion sites shows Citibank as offering at 6.99% interest. So I went ot the branch in Townhall in CBD and talked to the guy there. He said they can offer at 4.99 % if i take up their free bank account offer. I was pretty happy with the offer and caluclated my loan amount would cost me 850 per month for 3 years.So he took down all my details like Salary slips,proof of identity etc. He also asked if i had a credit card and whats the limit on it which i said is 2500 AUD. They said they will process and let me know in 2-3 days but it actually around a week for them to give me a call. Frist the guy on the call was pretty rude and then he straight away aske dme some questions and then said i can only get 10k. When i asked them why it is so low he said they have some factors and as per that i could not get more than that. I earn 120K a year and save around 2.5 k per month after paying all my expenses, I have been very diligent with my credit card payments as well never missing a payment.I dont understand what are the factors they considered in deciding the loan amount but i found it very frustrating when i can easily afford loan amount like that. The guy on the phone sounded rude and had no patience for explaining why i Could not be granted 25k. My experience was not good...so i would not recommend it if you are in urgent need of money

    Read full review

    I was looking for a Personal loan for about 20k and few of the comparsion sites shows Citibank as offering at 6.99% interest. So I went ot the branch in Townhall in CBD and talked to the guy there. He said they can offer at 4.99 % if i take up their free bank account offer. I was pretty happy with the offer and caluclated my loan amount would cost me 850 per month for 3 years.So he took down all my details like Salary slips,proof of identity etc. He also asked if i had a credit card and whats the limit on it which i said is 2500 AUD. They said they will process and let me know in 2-3 days but it actually around a week for them to give me a call. Frist the guy on the call was pretty rude and then he straight away aske dme some questions and then said i can only get 10k. When i asked them why it is so low he said they have some factors and as per that i could not get more than that. I earn 120K a year and save around 2.5 k per month after paying all my expenses, I have been very diligent with my credit card payments as well never missing a payment.I dont understand what are the factors they considered in deciding the loan amount but i found it very frustrating when i can easily afford loan amount like that. The guy on the phone sounded rude and had no patience for explaining why i Could not be granted 25k. My experience was not good...so i would not recommend it if you are in urgent need of money

    Price
    5/10
    Features
    2/10
    Customer service
    2/10
    Convenience
    2/10
    Trust
    1/10
    Less
    Prashant, New South Wales reviewed almost 5 years ago
Citi

About Citi

Citi is the consumer banking arm of Citigroup, one of the world's biggest financial institutions. Citi was the first foreign bank to be granted a banking licence to operate in Australia. Citi is now the largest international bank in the country, serving millions of Australians with credit cards, mortgages, deposit accounts, charge cards and more.

See Citi personal loans

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6.95% p.a.to 17.95% p.a.

6.95% p.a.to 17.95% p.a.based on $10,000
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Unsecured Personal Loan (Fixed)

6.49% p.a.to 8.99% p.a.

6.84% p.a.to 9.34% p.a.based on $30,000
over 5 years

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6.95% p.a.to 19.99% p.a.

6.95% p.a.to 19.99% p.a.based on $30,000
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Harmoney

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Unsecured Personal Loan

6.99% p.a.to 25.69% p.a.

7.79% p.a.to 26.65% p.a.based on $30,000
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OurMoneyMarket

OurMoneyMarket

Low Rate Personal Loan

6.75% p.a.to 8.48% p.a.

6.96% p.a.to 8.69% p.a.based on $30,000
over 5 years

Symple Loans

Symple Loans

Personal Loan

5.75% p.a.to 21.99% p.a.

6.47% p.a.to 25.11% p.a.based on $30,000
over 5 years

Liberty

Liberty

Personal Loan

7.65% p.a.to 26.99% p.a.

7.65% p.a.to 26.99% p.a.based on $30,000
over 5 years

MoneyPlace

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Unsecured Personal Loan (Fixed)

7.65% p.a.to 26.99% p.a.

7.65% p.a.to 28.6% p.a.based on $30,000
over 5 years

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New Car Loan (Fixed)

4.89% p.a.to 8.89% p.a.

5.44% p.a.to 9.46% p.a.based on $30,000
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loans.com.au

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New Car Loan (Fixed)

4.67% p.a.

5.22% p.a.based on $30,000
over 5 years

OurMoneyMarket

OurMoneyMarket

Car Loan

5.50% p.a.

5.85% p.a.based on $30,000
over 5 years

Wisr

Wisr

Secured Car Loan

5.19% p.a.to 18.95% p.a.

6.08% p.a.to 19.91% p.a.based on $30,000
over 5 years

CUA

CUA

Secured Car Loan (Fixed)

6.79% p.a.

7.16% p.a.based on $30,000
over 5 years

Heritage Bank

Heritage Bank

Car Loan

4.89% p.a.

5.53% p.a.based on $30,000
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loans.com.au

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Clean Green Car Loan

3.97% p.a.

4.51% p.a.based on $30,000
over 5 years

Plenti

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Used Car Loan (Fixed)

5.29% p.a.to 9.99% p.a.

5.84% p.a.to 10.56% p.a.based on $30,000
over 5 years

Plenti

Plenti

Unsecured Personal Loan (Fixed)

6.49% p.a.to 8.99% p.a.

6.84% p.a.to 9.34% p.a.based on $30,000
over 5 years

Alex

Alex

Personal Loan

6.95% p.a.to 19.99% p.a.

6.95% p.a.to 19.99% p.a.based on $30,000
over 5 years

NOW FINANCE

NOW FINANCE

Unsecured Personal Loan

6.95% p.a.to 17.95% p.a.

6.95% p.a.to 17.95% p.a.based on $10,000
over 3 years

Harmoney

Harmoney

Unsecured Personal Loan

6.99% p.a.to 25.69% p.a.

7.79% p.a.to 26.65% p.a.based on $30,000
over 5 years

OurMoneyMarket

OurMoneyMarket

Low Rate Personal Loan

6.75% p.a.to 8.48% p.a.

6.96% p.a.to 8.69% p.a.based on $30,000
over 5 years

Symple Loans

Symple Loans

Personal Loan

5.75% p.a.to 21.99% p.a.

6.47% p.a.to 25.11% p.a.based on $30,000
over 5 years

Liberty

Liberty

Personal Loan

7.65% p.a.to 26.99% p.a.

7.65% p.a.to 26.99% p.a.based on $30,000
over 5 years

Wisr

Wisr

Unsecured Personal Loan

7.95% p.a.to 19.45% p.a.

8.78% p.a.to 20.4% p.a.based on $30,000
over 5 years

Symple Loans

Symple Loans

Personal Loan

5.75% p.a.to 21.99% p.a.

6.47% p.a.

$10.00

Plenti

Plenti

New Car Loan (Fixed)

4.89% p.a.to 8.89% p.a.

5.44% p.a.

$0.00

loans.com.au

loans.com.au

New Car Loan (Fixed)

4.67% p.a.

5.22% p.a.

$0.00

OurMoneyMarket

OurMoneyMarket

Car Loan

5.50% p.a.

5.85% p.a.

$0.00

Wisr

Wisr

Secured Car Loan

5.19% p.a.to 18.95% p.a.

6.08% p.a.

$0.00

Heritage Bank

Heritage Bank

Car Loan

4.89% p.a.

5.53% p.a.

$5.00

loans.com.au

loans.com.au

Clean Green Car Loan

3.97% p.a.

4.51% p.a.

$0.00

Plenti

Plenti

Used Car Loan (Fixed)

5.29% p.a.to 9.99% p.a.

5.84% p.a.

$0.00