Citibank’s DCP comes with a special offer that saves you money on interest payments and your groceries. Until 15 June 2017 only!
Over the last couple of weeks, we’ve shared how Singaporeans can overcome debts from multiple credit cards with a debt consolidation plan (DCP).
For those who haven’t heard, a DCP is designed for Singaporeans who have credit card debt 12 times their income or more. With a DCP, you combine your outstanding credit card balances into one giant loan, which you repay in monthly instalments (just like a personal instalment loan).
Debt Consolidation Plans Help You Save Money
Besides streamlining the process of repaying several credit cards balances, a DCP also helps you save money by lowering the total interest rate.
Unlike credit cards, which have an interest rate of 25% p.a., DCPs have rates of under 15% p.a. You can potentially save thousands of dollars on interest payments alone when you shift your outstanding balances onto a DCP.
Of course, you need to budget your expenses and ensure that you pay your DCP on time every month. Otherwise, you end up in the same debt cycle you’ve been trying to climb out of. The good news is that some DCPs come bundled with offers that let you save on everyday expenses. This will go a long way in making sure you have enough cash to meet your commitments every month.
How to Get S$500 Grocery Vouchers with Citibank DCP
From today until 15 June 2017, you can get S$500 FairPrice vouchers when you apply for a Citibank Debt Consolidation Plan through SingSaver.com.sg. It’s as simple as clicking the button below to get started.
Do take note of the eligibility requirements before sending in your application:
- For Singaporeans and Permanent Residents only
- Be a salaried employee with an annual income between S$30,000 to S$120,000
- Have total interest-bearing outstanding balances on your credit cards or unsecured credit facilities of at least 12 times your monthly income
When your DCP gets approved, you can expect to receive your vouchers through mail within 2 months from the end of the promotion. Check out the full Terms and Conditions here.
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By Lauren Dado
Lauren has been a content strategist and digital marketer since 2007. As SingSaver.com.sg’s Content Manager, Lauren edits and publishes personal finance stories to help Singaporeans save money. Her work has appeared in publications like Her World, Asia One, and Women’s Weekly.