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.
Nothing to rave about
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.
Online banking system is easy to use, statements are all password protected. Very smooth process.
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
Citibank advised after I applied for a loan that I was accepted for a fantastic 8.99% interest rate, at the time there was also a Citibank loan for 6.9% so I thought yes this one is better, can we switch and they advised yes. They then looked into it and when I heard nothing back after a week, I phoned and they advised me I was rejected for both loans?? So now it's on my credit rating report for life and no clear detailed feedback has been provided. I have also called the main Sydney number three times and the line drops out, plus the Sydney staff never identify themselves, I asked why and they advised it is not a job requirement? So CITIBANK= Great Rates. Who are you talking with? Call backs will not happen. Do not recommend to anyone, as it could seriously affect your credit rating file.
Excellent service, love Citibank.
I availed the Citibank ready credit unfortunately I cancelled the load because of their lack of action to minor queries and they keep on blocking your offers during the negotiation. They also won't let you talk during conversation which I find very unprofessional.
The customer service is fantastic and the application process is easy. However, there are not a lot of physical branches to visit. If you like on-line service and banking this is it.
Citibank customer service representatives have no idea what they are talking about... would not recommend this bank for any product. I personally would not go anywhere near this bank. Their representatives promise a fee waiver after negotiation but it would not reflect in the papers...
So easy to deal with.
They were ok as far as banks go.
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Terms from 2 to 7 years. Representative example: a 5 year $30,000 loan at 6.95% would cost $35,599.71 including fees.
Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 6.75% would cost $35,580.23 including fees.
Terms from 2 to 3 years. Representative example: a 3 year $10,000 loan at 6.99% would cost $11,114.11 including fees.
Terms from 1 to 7 years. Representative example: a 5 year $30,000 loan at 5.75% would cost $35,190.18 including fees.
Terms from 3 to 5 years. Representative example: a 5 year $30,000 loan at 5.99% would cost $35,039.67 including fees.
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.
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