Press Release
Citigroup Inc. (NYSE: C)
10th October 2007
Citibank Cuts Interest Rates On Loans
Citibank has significantly cut interest rates applicable to consumer loans taken out during the pre-Christmas season period. Interest rates now begin at the extraordinary 8.99 per cent p.a. applicable to amounts as low as from CZK 30,000 and up. Individual repayment installments will thus get below the level of CZK 1,000 a month. This preferential offer is good till the end of 2007.
“The closing months of each year are always a period when people’s interest in taking out loans is on the rise as consumers more and more frequently use a loan to finance their Christmas-linked expenditures. Citibank has decided to offer such extraordinary terms especially for smaller-sized loans that, in most cases, are sufficient to cover the purchase of Christmas gifts and presents,“ said Radko Šindrbal, Personal Loans Manager.
The extraordinarily advantageous rate of 8.99 per cent* p.a. is available from Citibank for loans starting at CZK 30,000, with maturity of 36 months, for a monthly installment of CZK 963. For illustration, loans in the amount of CZK 50,000, with the same maturity, are subject to the interest rate of mere 9.45 per cent** a year.
„If the loan is repaid early by the client, no sanction fees are charged to him by Citibank and the client will save up significantly. Also, he does not have to have his current account opened with the Bank and, he doesn’t even have to make personal visit to Citibank. All that it takes is giving us a phone call and the client will be visited by our personal banker. Available also is an optional insurance policy that covers the ability to repay the loan,“ added Radko Šindrbal.
To apply for the loan, call CitiPhone (844 888 844). Get more information by visiting www.citibank.cz.
* APR 13.93%
**APR 12.91%
For more information please contact:
Markéta Dvořáčková Andrea Machálková
Public Affairs Officer Communications Executive
Tel: +420 233 061 041 Citibank a.s.
Mobil: +420 724 356 358 Tel.: 233 062 781
e-mail:
Note for editors:
Citibank a.s. has been present in the Czech republic since 1991. The Bank has rapidly gained its position of the market leader in corporate banking and, Citibank’s offering of products and services has been gradually enhanced to include also small and medium-sized companies. Citibank a.s. entered the retail banking business in January of 2001 and, a number of products and services are offered to Citibank clients ever since, such as personal accounts, credit cards, personal loans, investing into mutual funds as well as CitiGold, the private banking services. For additional information about Citibank a.s. please refer to the following web site: www.citibank.cz.
Citibank a.s. received the esteemed awards in two categories upon the assessment of the MasterCard Best co-brand cards launched in 2006. Citibank placed first in the Best 2006 Novelty category for its MasterCard Citi ČSA credit card and, it also won the Best Co-branded Card from the Client’s Benefits Point of view category for its Shell MasterCard from Citibank a.s.
Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Major brand names under Citi's trademark red arc include Citibank, CitiFinancial, Primerica, Citi Smith Barney and Banamex. Additional information may be found at www.citigroup.com or www.citi.com.