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Citibank Singapore launches instant online installment loans

Melissa Aw

Citibank Singapore has launched two instant online installment loans.

'Click for cash' will give existing ready credit and credit card customers instant access and approval for installment loans online while 'Paywise' will offer existing credit card customers the option of converting their big ticket purchases into installment loans online after their purchases have been made.

Through these services, customers will be able to immediately view the interest rates, select the preferred installment tenures and see the monthly installment amounts which will enable them to exercise more efficient credit management, Citibank said.

The launch of these new online services comes on the back of Singapore's first 24-hour online e-chat service launched in April last year, as well as the recently enhanced Citibank electronic statements, Citibank online and mobile platforms.

"We are constantly exploring new opportunities to introduce innovative products and services to enhance our customers' banking experiences. Part of this includes making efficient use of online technology to offer customers new initiatives that give them flexibility, convenience and instant access," said Jacquelyn Tan, business director of Citibank's credit payment products.

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