Enjoy fixed repayments with rates from 3.45% p.a. (EIR from 6.5%), competitive for Singapore, though not the lowest on the market.

Looking for a fast, fuss-free way to access cash using your existing credit limit? Citibank Quick Cash lets eligible cardholders convert their unused credit into a fixed-term personal loan with flexible repayment options without needing to reapply for a new loan. But how does it compare with other banks, and what should you look out for before applying?

In this 2025 review, we’ll break down the key features, rates, fees, and eligibility for Citibank’s Quick Cash loan, and compare it to alternatives like DBS, UOB, and OCBC. Whether you need extra funds for a large purchase, an emergency, or simply want to consolidate debt, this guide will help you decide if Citibank’s Quick Cash is the right fit.

Citibank is one of Singapore’s established foreign banks, offering a range of personal finance services. Backed by the global financial strength of Citigroup, it is well-regarded for its robust digital banking capabilities, premium credit cards, and competitive personal finance products. Many Singaporeans associate Citibank with reliability, efficient service, and attractive card rewards — especially in the miles and cashback space.

The Citibank Quick Cash loan is a cash-on-credit facility that allows eligible Citibank credit card or Ready Credit holders to convert their unused credit limit into a fixed-term loan. Borrowers can repay in fixed monthly instalments over a tenure of up to 60 months.

Citibank Quick Cash via Citi Ready Credit is a solid option if you need fast access to cash without going through a full loan application. It’s especially appealing for existing Citi customers who value convenience and want fixed monthly repayments. With competitive starting rates, no processing or early repayment fees, and a global banking brand behind it, the product strikes a balance between flexibility and reliability.

That said, Citibank’s lowest advertised interest rates are typically reserved for high-credit-score borrowers, and rates can be less competitive if your profile doesn’t qualify. While it’s a hassle-free option for short-term liquidity, those seeking the absolute lowest EIR on the market may want to compare other personal loans as well.

To apply for Citibank Quick Cash, you must:

• Be a Singapore Citizen or Permanent Resident

• Be above 21 years old 

• Have a minimum annual income of S$30,000 for Singaporeans/PR and S$42,000 for foreigners 

• Hold an existing Citibank Credit Card or Citi Ready Credit account in good standing

Do note that final eligibility and loan approval are subject to Citibank’s internal credit assessment.

Citibank’s Quick Cash Loan offers fixed interest rates starting from 3.45% p.a., with an EIR from 6.5%. Let’s first clarify what these terms mean.

• Nominal Interest Rate (p.a.): The flat interest charged per year, not accounting for processing fees or compounding. It represents the straightforward cost of borrowing before any additional charges or the effects of compounding are considered. This rate often serves as an initial headline figure to attract borrowers.

• Effective Interest Rate (EIR): The true annual cost of borrowing, factoring in all fees and the declining balance of your repayments over time. It meticulously accounts for all associated fees, such as processing fees, administrative charges, and any other upfront costs. Crucially, the EIR also factors in the declining balance of your loan as you make repayments over time.

When comparing loans, the EIR gives a more accurate picture of what you’re really paying, so always look at this first. 

Citi Quick Cash Program interest rate table

*The interest rate and processing fee you receive will depend on your individual credit profile, and may differ from the rates shown or those offered to other applicants. Please refer to the actual rates presented during the online application.

Interest rates comparison table

Citibank’s nominal rate is among the most competitive, though DBS, UOB and Standard Chartered offer comparable options depending on your credit profile.

The Citibank Quick Cash Loan incurs no processing or early redemption fees if you repay the entire amount in full. However, a cancellation fee of S$100 or 3% of the outstanding loan amount, whichever is higher, applies. Always review the loan agreement for the most updated terms.

Fees comparison table

Existing Citibank customers can apply for Quick Cash directly via the Citi Mobile App or online banking. In most cases, approval is received instantly and the funds are deposited the next working day into a Citi account or up to 5 working days for non-Citi account.

• Competitive interest rates from 3.45% p.a.

• No processing or early repayment fees

• Up to 5 years tenure for greater flexibility

• Fast online application and approval for existing customers

• Ideal for those looking to convert unused credit limits into lump-sum cash without reapplying for a personal loan

However, borrowers with strong credit scores may want to compare across banks to see if lower EIRs are available elsewhere.

Existing Citibank cardholders

1. Log in to your Citi Mobile App or Citibank Online.

2. Select “Quick Cash” from the menu.

3. Choose your loan amount and tenure.

4. Submit the request and await confirmation.

Non-Citibank cardholders

1. Apply for a Citi Credit Card or Citi Ready Credit account.

2. Once approved, activate your card and ensure good account standing.

3. Then follow the same steps as above to apply for Quick Cash.