Tax Loan with Interest and Handling Fee Waived for New Citi at Work and Citigold Customers

HONG KONG, Oct. 26 /PRNewswire-Asia/ -- From now until January 31, 2011, customers who have newly signed up a Citi At Work Payroll account or Citigold account, as well as successfully apply and drawdown a Citibank Tax Loan at the same time are entitled to a welcome offer of full rebate on tax loan interest and handling fee wavier¹.  The maximum amount of tax loan interest rebate for Citigold account applicants is HK$5,000 and HK$1,000 for Citi At Work applicants^#.

Citibank Tax Loan

• Monthly flat rate as low as 0.08% ² (APR 1.78%)
• 6 or 12 months repayment period
• Loan disbursement: Check / directly deposit to customer designated account / loan payment directly settles tax with Inland Revenue Department

Mr. Neil Gardner, Director, Cards & Unsecured Lending, Global Consumer Group, Citibank Hong Kong, said, "Our commitment is to provide quality products and wide range of value added services to mass affluent.  With our bundled services, we will offer the best-in-town tax loan rate to all our banking customers including our credit card customers."

"In view of the low interest rate environment, stable employment and recovering economy this year, we believe more people will apply for tax loan and access extra cash for individual use.  Therefore our tax loan business this year is expected to have at least a double digit increase compared to last year."

# Each customer is only entitled to either one offer, whichever is higher. The offer is not applicable to existing banking customer of Citibank and customer who had banking relationship in the last 12 months; The Program is subject to the Terms and Conditions.

For enquiries or application, please call our hotline: 8206 2006 or visit: www.citibank.com.hk/taxloan or visit our branch.

Remarks：

1. The offer for Citi At Work and Citigold are only applicable to the loan amount up to 100% of tax bill.
2. The availability of preferential monthly rate of 0.08% is subject to customer's account status checking at the time the request is received. The quoted Annualized Percentage Rate (APR) for monthly rate of 0.08% is 1.78%. APR is calculated in accordance with the method set out in the relevant guidelines issued by the industry associations and is based on 12 month installment period and HK$30,000 loan amount using Net Present Value method. The actual APR applicable may differ.
3. For the actual APR, terms and conditions, please contact Citibank's staff.