If you’ve yet to take out a personal loan, you may think that applying for one will require a lot of your time, not to mention forms to complete and documents to submit.
There are some myths about personal loans that we’re happy to disprove for you — that it’s complicated, inconvenient, and maybe not even something you need.
But there is such a thing as good debt – when you are borrowing to improve yourself because you want to take a course to acquire new skills, or invest in a condominium unit to cut back on what you are paying for rent. There’s nothing wrong to consider these investments as you kick-start your career and secure your future!
So before you say no to a personal loan offer, read about the myths we’re debunking below, and learn the facts.
Myth: It’s complicated to apply for a personal loan.
Fact: With a Citi Personal Loan, you can apply online, which you can access from the comforts of your home or office. Visit www.citibank.com.ph/loans and click “Apply Now.” This will lead you to a short online form for you to fill in your details. It’s that easy.
Myth: The application process takes at least a week to complete.
Fact: After completing the online form, a Citi officer will give you a call about your application in three hours or less. What’s more, you can get a Citi Personal Loan approved in as fast as 24 hours! If you want to know if the monthly payments are within your budget, Citi also features an online personal loan calculator to compute for your monthly amortization. Select the loan amount and loan term to see what best works for you.
Myth: I need collateral.
Fact: With no collateral or guarantor needed, nothing is holding you back to go for it. Citi also offers flexible terms that span from one to five years. You can borrow from as little as P20,000 to a sum of P2 million.
If you’re thinking of that dream vacation, that long-awaited home renovation, pursuing your educational dreams, or any other big purchase or emergency expense, visit the Citi website and explore more about the Citi Personal Loan and see if it’s the right one for you.
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