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$250 Gift Voucher with a Citi Personal Loan @ Citibank

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Citi are giving away $250 gift vouchers for getting a personal loan. Does not look like any catches other than getting the loan approved.

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Citibank Australia
Citibank Australia

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  • No penalty for paying out early?

    EDIT: No, no penalty.

    • Website says $0 early payout. 9.9% min is a bit strep though

      • +2

        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
        $75,000

      • Without 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.

  • +1

    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…

    • +1

      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.

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