Allows reduction of multiple loans from various financial institutions into one Personal Loan with possibly lower monthly installments
July 26, 2012
Citibank Hungary's new Debt Consolidation Loan offers consumers an outstanding opportunity to consolidate multiple loans, including personal loans, overdrafts, durable goods financing and credit cards from various financial institutions into one Personal Installment Loan from Citibank. The annual interest rate of the Citibank Debt Consolidation Loan is 19.9 percent for applications submitted via all channels, including branches, direct sales agents, telephone and online and may result in a reduction of the customers' earlier monthly installments by up to 25-30 percent.
Batara Sianturi, Citi Country Officer for Hungary said, "We are committed to continuing to offer our customers innovative, convenient and transparent products that bring them real value. In the current market environment when companies are deleveraging their assets we realized that individual customers are copying this trend in their households. We believe our Citibank Debt Consolidation Product can be a very efficient tool to help customers consolidate and simplify their debt at an attractive interest rate."
Jon Wiggins, Citibank Consumer Business Manager also remarked: "We designed this new product to allow our customers to reduce their monthly loan payments and ease the administration burden of managing their day-to-day finances. We do not require customers to transfer their salaries to Citibank and to buy any credit insurance as a criteria to disbursing the loan, however, if they decide to go with our relevant offers, they can reduce the administration fee even to zero percent. We encourage our customers to leverage the opportunities our Debt Consolidation Loan can offer them both in terms of competitive pricing and convenience."
Citibank Debt Consolidation Loan key features: