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| Access |
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| How do I use my Citibank Ready Credit account? |
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| Citibank Ready Credit Account Card |
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| You can use the Citibank Ready Credit Account card to transfer funds up to VND 200,000,000 by visiting Citibank branch and asking for a funds transfer. Do note that separate limits apply to withdrawals at ATM (both amount and number of withdrawals). |
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| Personal Loan |
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| You can also fill out the Ready Credit Cash Advance/ Personal Loan Contract to take an installment loan up to 36 months equated installments. Please note that you need to submit proof/document of loan usage and / or intention to purchase. |
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| Funds Transfer |
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| You can transfer funds from your Citibank Ready Credit account to your own or third party's account with Citibank or another bank. Simply fill out a form and submit at the Citibank branch in HCM or Hanoi. |
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| How do I access my Ready Credit account overseas? |
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| Wherever you are in the world, you will have instant access to your Ready Credit account 24x7 just by using your Ready Credit Account Card wherever you see the PLUS sign. And of course there's 24x7 internet banking. |
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| Can I manage my Ready Credit account online? |
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| Yes, you can create an online User ID that will give you access to a variety of online account features ranging from viewing account information, transferring funds or view e-statements or request for change APIN mailer. |
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| Application |
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| How long will it take to complete my online application? |
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| Upon submission of complete documents we approve or decline an application within 5 working days. In some cases, we may request for further information and documents to protect client interests. Cards will be sent to customer in another 5 working days. ATM PIN will be sent separately sent across as a measure of caution. |
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| How can the Ready Credit facility be availed? |
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Account holders can apply for this facility along with the Citibank Ready Credit application form and relevant documentation. Simply call CitiPhone at
(84 8) 3521 1111 or (84) 1900 1819 and ask for more details. |
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| Fees & Charges |
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| How is the Rate of Interest calculated? |
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| The interest is charged only on the amount used and the period used. For example if you only use VND10,000,000 for 15 days then you need to pay interest only for 15 days and not for the month. Citibank offers very attractive interest rates for its Ready Credit. The interest is calculated on a daily reducing balance and there is no pre-closure penalty charged. In case there is no usage of the facility, there will be no interest payable. |
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| How is interest calculated? |
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| As long as you have an outstanding balance in your account, interest is calculated on a daily based on the outstanding debit balance at the end of each day. Daily interest rate is calculated based on Annual interest rate / 360 days. |
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| If you have excess funds in your account (i.e. credit balances), no interest will be paid on the balance. |
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| Repayment |
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| How is the amount used repaid? Can more amounts be paid than minimum due? |
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| Every month there is a mandatory repayment of 4% of the outstanding balance along with other fees, overdue interest, principal, installments. Yes, you can pay any amount you have to reduce your outstanding balance subject to a minimum repayment as stated in your monthly statement. There is no prepayment penalty for paying more than the minimum required. Once the minimum due is paid off, this amount is added back to your withdrawal limit on the Ready Credit line. |
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| Are there any minimum repayments each month? |
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| You only need to pay a minimum of VND 50,000 or 4% of the outstanding amount in the account each month, whichever is higher. Please note that past due amounts (principal and interest), current month installments if any, fees, over limit amounts are all added to the minimum due for monthly minimum payments. |
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| How do I make the payments? |
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- You can transfer this amount from Citibank Online, CitiMobile or ATM if you have a Citibank account.
- You can use Direct debit to transfer minimum balance on the due date from your Citibank account.
- You can make payments by cash at our branches.
- You can also make payment at any of the other bank branches. Please note that Payment made will be credited into your Ready Credit account within 3 working days.
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| What if I have trouble making my repayments? |
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| If you are having difficulty making the required payments on your account (financial or otherwise), call CitiPhone at (84 8) 3521 1111 or (84) 1900 1819. Ask to speak to a Credit Counselor and they will assist you. |
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| Are there penalties for early repayments? |
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| No, there are no penalties for early repayment. Ready Credit is a revolving line of credit, which means there's no fixed time to pay off your account, and if you do, you can use your credit limit again and again without having to re-apply. |
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| How often do I have to make repayments? |
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| We will send you a statement requesting a minimum repayment every month by a specific date. The minimum monthly repayment is the greater of: VND 50,000; or the sum of 4% of outstanding balance plus interest plus over limit amounts and other fees / penal interest. |
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| Non-payment may result in penal interest being charged and the suspension or cancellation of your credit facility. |
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| Others |
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| What is the maximum credit limit that can be approved? |
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| The credit limit assigned to you will be up to 4 times your monthly income, capped at VND 300 Million. For example, if your monthly income is VND 50,000,000, you can be assigned a limit up to 200,000,000 subjected to approval. |
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