| 1. |
What is Personal Loan? |
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Personal Loan is easy and convenient CASH,
with no equity. The utilization of a personal loan is at the discretion
of the person taking the loan. Unlike a home or a Car Financing
loan its utilization is not bound for a specific purpose |
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| 2. |
How much can I get through this loan? |
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You can qualify for a Personal Loan facility
ranging between Rs.25,000 and Rs.500,000. Certain restrictions may
apply on the maximum loan amount of Rs.500,000. The final authority
for rejecting and accepting the facility rests with the bank. |
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| 3. |
For how long can I get this loan? |
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Your financing period can vary from 1 year
to 5 year. Certain restrictions may apply on the 5 year financing
period. The final authority for offering the financing period rests
with the bank. |
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| 4. |
Who can apply for a personal loan? |
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Salaried applicants over 21 years and self-employed applicants
over 25 years of age residing in Karachi, Lahore, Rawalpindi,
Islamabad, Hyderabad, Sialkot or Gujranwala can avail this facility.
Minimum income requirement for salaried employees is Rs.12,000/-
whereas self-employed applicants will have to give their bank
statements for the last six months in order to qualify. You have
to be a permanent employee with your organization.
Government employees of grade 18 & above are eligible whereas
a Major in the army (or equivalent in Navy and Airforce) &
above can also apply for Personal loans.
*Self-employed businessmen are eligible only if they have been
our branch customers for the past six months or credit card customers
for past 12 months.
(The final authority for accepting or rejecting
any application rests with the bank).
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| 5. |
Can I qualify for a higher loan amount? |
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Customers qualifying for a lower loan amount
(see previous question) can qualify for a higher amount by clubbing
their income with their spouses. |
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| 6. |
Will I be charged with any pre-payment penalty,
if yes how much? |
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An amount of Rs.5000/- or 10% of the outstanding
(whichever is higher) will have to be paid in addition to the total
outstanding balance of the principal amount taken if a loan is paid
completely or partially prior to its maturity period, as agreed
upon by the customer at the time the loan had been applied for. |
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| 7. |
How is a Personal Loan disbursed if approved? |
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Personal loans are disbursed through
Citibank cheque. Realisation of the proceeds of the Citibank cheque
shall also constitute acknowledgment by the customer of its obligation
to pay the purchase price to Citibank in accordance with the Repayment
Schedule attached to Citibank cheque. |
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| 8. |
What do I need to do if I have to apply for a
personal loan? |
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Just call 111-333-333 at any time day or night & our professional
Phone Bankers will help you out or just leave a message by clicking
on the icon given below.
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Click here
to apply |