Citibank Korea kicked off a customer event Monday to celebrate the first year since the launch of its unsecured personal loan product for salaried employees offered through its mobile app.
As part of the celebration, Citibank Korea is running the event in which those who apply for the mobile loans by March 31 will be randomly selected to receive gifts such as coffee vouchers and smartphones.
In addition, those who apply for the product by March 31 will be given 0.5 percentage point rate bonuses and exemptions on commission fees for early repayment.
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Citibank Korea’s promotional image for mobile unsecured personal loans for salaried workers (Citibank Korea) |
An applicant can borrow at least 5 million won ($4,700) through the product. The maximum loan amount a borrower can take out is the smaller of the two -- 140 million won or 24 times his or her monthly income. Interest rates will range roughly from 4 percent to 11 percent, depending on a borrower’s credit score.
The borrower does not have to hold an account issued by Citibank Korea to apply for the loan through the app. The loan application process can be completed within an hour, without the need to visit a brick-and-mortar branch or documents of proof, according to the bank.
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