Types of

Personal Loans

When applying to a lender for a personal loan, you will want to know exactly what type
of personal loan you wish to obtain. Several factors may enter into your decision:

• The amount of money you want to borrow;

• The length of time involved in paying back the loan;
• The interest rate; and
• Whether or not you have collateral.
• There are three main types of personal loans. Following are the advantages and
disadvantages of each.

Secured Loan

A secured personal loan is a loan in which you offer up some form of collateral as a
guarantee. Usually this is your home, but it can also be other real property such as a car,
land, or buildings. Home owners have a good chance at qualifying for a secured loan.
And since collateral is being offered, the lender does not worry as much about you
defaulting on the loan. If you do not pay, they simply repossess your home or car and sell
it to pay off your loan.

The advantages to a secured loan are almost always lower interest rates which mean
lower monthly payments for you. With the lender’s risk reduced, because your collateral,
he or she can offer better terms.

The disadvantage can be serious. You could lose your home, or whatever real property
you offered as a guarantee, if you default on your payments. Because it is often your
home that is the collateral, you want to think long and hard before risking it on a short
term loan. Make sure you fully understand the terms of your loan before committing
yourself.

Unsecured Loan

An unsecured loan is one that does not require collateral. You will not need to own your
home for this type of loan. They are usually processed quicker than a secured loan
because all you need is your lender’s application and a credit report. You must have good
credit, as a rule, for this type of loan. Unsecured loans are often for smaller amounts than
a secured loan. Advantages to an unsecured loan are that you don’t have to be a property
owner or have collateral. These loans are fast which can be a definite plus if it is for an
emergency.

The main disadvantage is the amount of interest you will pay. Since the lender requires
no collateral, he charges higher interest rates to make up for it.

Line of Credit
This is similar to the terms of a credit card. Your lender issues you a line of credit. How
much that will be will depend on your needs and what you have in collateral. Once the
amount of credit is determined, for example $5,000.00, you write your own loan, up to
the limit. As you pay down the loan, you qualify to use it again and possibly qualify for
higher credit limits. As with the other two types of personal loans, you have a monthly
payment and a deadline for paying back the loan.

The disadvantage to a line of credit can be getting caught up in the continual purchasing
that can happen with credit cards. Double check the fine print and make sure you know
what your terms are before signing.

Citibank India is since 1902. Citibank India was the first bank to lend actively to individuals. Citibank is the
largest Consumer Finance lender in the world. Citibank India follows the following principles while dealing to
its customers:

• Truth in Lending
• Superior Products and Services
• Quick and Transparent Credit Decisions
• Lending is not a transaction, but a relationship
• Custodian of Public Funds

Citibank online banking

With citibank online banking one can enjoy the following services from anywhere in the world. For citibank
online banking one has to log on to www.citibank.co.in

• Redeem your rewards points

• Pay Bills Online
• Send Demand Draft anywhere in India
• Get statements by e-mail
• Register for Instant alerts
• Mobile Banking
• Citibank online Security Tips

Citibank Suvidah

With the Citibank Suvidah Account, one can get the following benefits:

• Shop n' win Rewards

• Secure your child's future
• Instant cash upto thrice your salary
 • Get rewarded for your account

Citibank Suvidha Account Holders holds over 150,000 highly tech-savvy Account Holders from Bangalore,
Mumbai and Delhi alone.

Citibank Cards

Citibank cards are available in a range of flexible and personalized credit and charge that can be managed
online. Undermentioned are few types of Citibank Credit Cards in India.

• MTV Citibank Card

• IndianOil Citibank Card
• Citibank Silver International Card
• CRY Card
• WWF Card
• Times Card
• Citibank Cricket Visa Card

Citibank Direct

The Citibank Direct Current Account pays 4.59% AER (4.50% gross). The Citibank Direct is one of the best
rates on the market, with no strings attached. No minimum deposit is required for Citibank Direct and no
need to pay in ones salary. A minimum annual income of £15,000 is required to open Citibank Direct
Account. A chequebook and automatic overdraft facility are not available in Citibank Direct. Moreover
Citibank Direct Account is easy to manage.

Citibank NRI

Citibank NRI holds over 160,000 Citibank NRI Account. Citibank NRI Account Holders, holds a minimum
balance of Rs. 10 lakhs. Citibank NRI is voted as the most preferred bank of the NRIs.

•
• NRI Banking
• Corporate Banking
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Citibank now offers you an unmatched Personal Loan program - Ready Cash, that is geared to meet your
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Citibank Personal loans helps you plan a trip to a dream destination with your loved one, fulfill goals that you
might have planned for tomorrow, expand your business further or just about anything. So go ahead and
realize your dreams with personal loans from Citibank.
Citibank personal loan program - Ready cash is available for salaried individuals and self-employed
professionals.

Please fill in the application below. Our representative will get in touch with you
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For more details, please refer to the Terms and Conditions.

^ Conditions apply. All loans at the sole discretion of Citibank.

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