FEES & CHARGES

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LOANS FEES AND CHARGES

Applicable to Installment Loan Availments

MAIN FEES AND CHARGES
Annual Contractual Rate

The Annual Contractual Rate (ACR) is the interest that will be charged on the loan, based on a 360-day period, computed on a monthly basis wherein each month consists of 30 days (except for the 1st month which is equal to the number of calendar days from the approval date to the next billing date).

The average ACR as of December 2015 is 26.9%. Exact ACR will be indicated in the Disclosure Statement.

Disbursement Fee

P1,750 for each disbursement

Documentary Stamp Tax (DST)

P1 for every P200 of the amount, subject to applicable laws and regulations

Effective Interest Rate

In accordance with the Philippines Accounting Standards definition, effective interest rate (EIR) is the rate that exactly discounts estimated future cash flows through the life of the loan to the net amount of loan proceeds (BSP Circular No. 730, S2011).

The EIR which includes the monthly interest, the Disbursement Fee and DST, is computed at 35.96% using a sample loan amount of P160,000 at 36 months. Exact EIR will be indicated in the Disclosure Statement.

OTHER FEES
Closure Handling Fee

4% of the unbilled principal component of the loan that is prepaid.

Returned Check Fee

P1,500 will be charged for every check that is returned or that bounces due to insufficiency of funds, uncollected deposits, stop payment order, alterations or erasure, among others.

Monthly Late Charge

P500 or 6% of the Overdue Amount, whichever is higher.

Please see the Citi Personal Loan Terms and Conditions at www.citibank.com.ph/loans for the definition of Overdue Amount.

Monthly Interest Charge

“Monthly Interest Charge” or “Interest Charge” means the interest, computed using the monthly revolving interest of 2.42% (“Monthly Interest Rate”), applied on any or all of the following: (1) on any unpaid fees and charges, and (2) on the Total Amount Due, when my Citi Personal Loan is in default at 60 days past due, in which case, the Total Amount Due will include any unpaid fees and charges, the past due monthly principal installment amounts and the remaining principal balance. Such interest shall be compounded monthly and will continue to be charged until full payment of Total Amount Due plus accrued interest.

Attorney's Fees & Other Judicial Expenses

In case of default in payment, in addition to late and interest charges, the cost of collection and/or attorney's fees and the litigation and judicial expenses as applicable.

Applicable to Cash Advances

Monthly Interest Charge*

2.4% monthly revolving rate of interest will be applied to any or all of the following: (1) on fees and charges, including the interest on the said fees and charges, if you opt to pay only the Minimum Amount Due per month and (2) on the Total Amount Due when your Ready Credit account is in default at 60 days past due, which will include the billed in full remaining principal balance and the past due monthly principal installment amounts of your outstanding Installment Loan(s).

Such interest shall be compounded daily and the interest will continue to accrue until full payment of the Total Amount Due plus accrued interest.

Cash Advance Interest Rate

2.4% monthly.

29.64% Effective Interest Rate based on a principal amount of P20,000 with an assumption that the accountholder pays 1% of the principal amount plus the interest due, 21 days after the statement date

Cash Advance Fee Free on any of the Bank's ATMs local and abroad
Documentary Stamp Tax (DST) as required by local laws and regulations 0.5% of the Cash Advance transaction amount will be charged as DST, for every Cash Advance transaction made via ATM, the Bank's branches, Citibank® Online, CitiPhone® and Ready Credit Check Issuance. This includes cash withdrawal, bills payment and funds transfer transactions through these channels.
Foreign Transaction ATM Service Fee 3.535% shall be charged on the converted amount of foreign transactions representing the Bank's service fee and any assessment fee(s) charged by foreign ATMs
Checkbook Order Fee 1st checkbook is FREE and succeeding requests will be charged P300
Returned Check Fee P2,500 will be charged for Ready Credit Check you issued that returned due to reasons such as but not limited to insufficient available credit line and blocked or closed account.
Stop Check Fee P2,000 will be charged for every Ready Credit Check you issued that you request to defer/delay for deposit.
Check Retrieval Fee P100 will be charged for each copy of Ready Credit Check retrieved upon your request, for whatever reason. The same amount will be charged to you for each Ready Credit Check retrieved by the Bank arising from invalid dispute.

* Interest rates are quoted based on a 30-day period. For months with more (or less) than 30 days, the applicable interest rates shall increase (decrease) accordingly. Interest is compounded monthly.

Applicable Fees for Ready Credit

Monthly Late Charge P500 or 6% of the Past Due Amount, whichever is higher.
Minimum Amount Due Computation: P500 or 1% of your current billed balance will be charged, while interest charges and late charges indicated on your current statement will be billed in full together with Monthly Installments Amounts Due, overdue amount and overlimit amount. The Total Amount Due will become your Minimum Amount Due upon closure of account or if account becomes delinquent (under the Bank's applicable criteria). The Total Amount Due will be billed and will be used as basis for the computation of any Late Charges.
Returned Check Fee(Cards)/Bounced PDC Fee(Ready Credit) P1,500 will be charged for every returned check /bounced post-dated check due to reasons such as but not limited to insufficient funds, uncollected deposits, stop payment order or closed Ready Credit account.
Card Replacement Fee P100/P150 for each lost/stolen ATM/Visa Debit Card, whichever is applicable
Account Maintenance Fee In case of any remaining overpayments on inactive or closed Ready Credit accounts, a monthly Account Maintenance Fee of P200 or the amount equivalent to the credit balance, whichever is lower, shall be charged to the Ready Credit account until the credit balance is zeroed out.
Attorney's Fees and Liquidated Damages In case of default in payment, the primary accountholder is liable to pay, in addition to Late and Interest Charges, the cost of collection and/or Attorney's fees and the Litigation and Judicial expenses as applicable.

*All loans are subject to Credit Standards, Terms and Conditions.

For any concerns, you may contact us at (632) 995-9999 or send us a message through www.citibank.com.ph. Citibank, N.A. Philippine Branch is supervised by Bangko Sentral ng Pilipinas with telephone number (632) 708-7087 and e-mail address consumeraffairs@bsp.gov.ph.

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