How is the Ready Credit facility activated?
Please text last 4 digits of your account number to 9058
How do I use my Citibank Ready Credit account?
You can also fill out the Personal Loan Contract to take an installment loan up to 48 months equated installments. Please note that for loan amount of above VND 200 million, you need to submit proof/document of loan usage and / or intention to purchase.
How is the amount used repaid? Can more amounts be paid than minimum due?
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.
Are there any minimum repayments each month?
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.
How do I make the payments?
- 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 or via fund transfer from other banks.
What if I have trouble making my repayments?
If you are having difficulty making the required payments on your account (financial or otherwise), call CitiPhone at (84 28) 3521 1111. Ask to speak to a Credit Counselor and they will assist you.
Are there penalties for early repayments?
A prepayment fee may be payable as defined in the fees and charges in www.citibank.com.vn.
How often do I have to make repayments?
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.
Non-payment may result in the suspension or cancellation of your credit account
How is the Rate of Interest calculated?
As long as you have an outstanding balance in your account, interest is calculated on a daily basic of outstanding debit balance at the end of each day. Daily interest rate is calculated based on Annual interest rate / 365 days.
If you have excess funds in your account (i.e. credit balances), no interest will be paid on the balance.
How long will it take to complete my online application?
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.
My application has been declined - can I apply again?
Yes. You can apply again in six months time, and if your circumstances have changed, we'll consider your application.
Is this an evergreen line or can this facility be withdrawn?
The Ready Credit line remains with you till the time you have not violated any part of the Citibank Ready Credit Terms and Conditions. However, Citibank reserves the right to withdraw the credit facility at any time without notice.
What is the maximum credit limit that can be approved?
The credit limit assigned to you will be up to 4 times your monthly income, capped at VND 500 Million. For example, if your monthly income is VND 50,000,000, you can be assigned a limit up to VND 200,000,000 subjected to approval.
Can I get an increase in my credit limit if I am in need of more funds on a permanent basis?
Credit limit increases are conducted by Citibank on a periodic basis or if you show us a proof of income.