Citibank Launches 2019 Citi Tax Season Loan

Same day approval, second day disbursement

HONG KONG, CHINA - Media OutReach - October 10, 2019 - Citibank announces the launch today of 2019 Citi Tax Season Loan, available for same day approval and second day disbursement¹.  Selected customers can enjoy Annualized Percentage Rate ("APR") as low as 2.01%². Upon successful application of 2019 Citi Tax Season Loan during promotion period³, customers can receive up to HK$6,000 cash coupon reward.  

Features of Citi Tax Season Loan：

• Same day approval, second day disbursement
• APR as low as 2.01%
• Loan amount up to HK$2,000,000 or 12 times of monthly salary, whichever is lower
• Repayment term up to 60 months⁴
• Enjoy up to HK6,000 cash coupon reward
• HK$0 handling fee

By completing successful application for the 2019 Citi Tax Season Loan during October 4, 2019 to December 31, 2019, and collecting disbursement on or before January 15, 2020, selected customers⁶ can receive up to HK$6,000 cash coupon reward. The higher the loan amount, the more the cash coupon rewards will be.  

1.     Same day approval, second day disbursement is only applicable to selected customers who successfully submit the required documents together with a filled in application form before noon of that working day. Actual approval time may differ based on the information provided.

2.     The Annualized Percentage Rate ("APR") of 2.01% is calculated based on the monthly flat rate 0.09% with loan amount of HK$1,500,000 and repayment tenor of 12 months. APR is calculated based on the guidelines as set out in the Code of Banking Practice and rounded up to the nearest two decimal places. Interest is calculated on the basis of 365 days per year. The actual APR applicable may differ. An APR is a reference rate which includes the basic interest rate and other fees and charges of a product expressed as an annualized rate.

3.     Customers who successfully apply for Citi Tax Season Loan within the Promotion Period and drawn down on or before January 15, 2020 with a specific loan amount and repayment term 12 months or above ("Eligible customers") will be eligible for the Offer. Only applicable to customers who do not hold any Personal Loan account offered by Citibank (Hong Kong) Limited ("The Bank") at the time of application. The promotion period ("Promotion Period") is from October 4, 2019 to December 31, 2019, both dates inclusive. 

4.     Citi Tax Season Loan's repayment term is from 6 to 60 months.

5.     The example is for reference only. APR is calculated in accordance with the guidelines set out in the Code of Banking Practice, subject to a 12-month loan tenor and loan amounts of HK$1,500,000, HK1,499,999, HK$999,999, and HK$499,999, rounded up to the nearest two decimal places. Interest is calculated on the basis of 365 days per year. The actual monthly flat rate and APR are subject to the loan amount and credit assessment result of individual customer. An APR is a reference rate which includes the basic interest rate and other fees and charges of a product expressed as an annualized rate.

6.     The Reward for Citigold Private Client/ Citigold/ Citi ULTIMA cardholders is only applicable to who fulfill the following requirements:

- existing Citigold Private Client/ Citigold Client who currently hold Citigold Private Client/ Citigold account or Citi ULTIMA cardholders who currently hold Citi ULTIMA card with The Bank on the date of application; AND

- existing Citigold Private Client should maintain the account balance at HK$8,000,000 or above, while Citigold Client should maintain the account balance at HK$1,500,000 or above from the date of application to the issue date of redemption letter.