Citi are giving away $250 gift vouchers for getting a personal loan. Does not look like any catches other than getting the loan approved.
$250 Gift Voucher with a Citi Personal Loan @ Citibank
80
LchrisNeo on 13/01/2020 - 12:19 www1.citibank.com.au (282 clicks)
Last edited 13/01/2020 - 12:56 by 1 other user
Last edited 13/01/2020 - 12:56 by 1 other user
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Website says $0 early payout. 9.9% min is a bit strep though
Variable Interest Rate
Interest rates from 9.99% p.a. to 17.99% p.a. We factor in your personal circumstances - including employment details, living expenses, rent/mortgage costs and credit history - to tailor a rate that’s right just for you.
Comparison Rate
Ranges from 9.99% p.a. to 17.99% p.a.3
Establishment fee
$0
Monthly service fee
$0
Early pay out fee
$0
Additional repayments fee
$0
Minimum loan amount
$5,000
Maximum loan amount
$75,000Without any other fees, it's reasonable for an unsecured personal loan.
However by the sounds of it you'd actually pay a bit more unless you meet their definition of a perfect borrower.
Does not look like any catches other than getting the loan approved.
hardly a "freebie" then is it?
Only worth it if you actually need the loan. I would say you end up with 200 if paying after signing to it. It's likely they would charge you the first month interest…
Isn't that still a free $200?
I think you might end up getting hit with more interest, if your timing is off.
From the terms & conditions:
To be eligible to receive a $250 e-voucher, you must apply for a Citi Personal Loan Plus from 13 January 2020 to 3 February 2020 and activate your Account before 30 April 2020. Your e-voucher will be available for redemption by you on 7 May 2020 providing your Account is open and in good standing. We will send you a unique code and instructions on how to redeem your e-voucher via email. You must redeem your e-voucher within 6 months from the date you receive the voucher. Vouchers are non-reloadable or redeemable for cash.
So, if someone activates their account immediately, say on 20 Jan, then I think they'll have to keep paying interest until 7 May, to be eligible to get the $250 voucher.
No penalty for paying out early?
EDIT: No, no penalty.