Tuition solution in as fast as two hours

MANILA, Philippines - For businesswoman Lilia Junio, the education of her children comes first before anything else. Like typical Filipino  families who put a premium in their children’s education, Mrs. Junio believes that giving her children the best, quality education is an investment into their future.

So when one of her college sons needed to take his practicum in Singapore as a requirement for his Hotel and Restaurant Management (HRM) course, Mrs. Junio made a go for it despite the fact that she has no ready cash to finance her son’s education abroad. She knew that the on-the-job training abroad will provide his son the necessary skills that would later give him the edge once he enters the highly competitive jobs market.

Mrs. Junio thought of postponing her son’s training abroad until such time that she made a tidy profit from her garment business but this decision may cause her son to lose the much coveted slot in the Singapore hotel.

Thanks to Citibank Savings, Mrs. Junio’s dream of giving her son the best possible training abroad can be a reality in as fast as two hours. 

Clients who apply and personally submit complete documents at selected Citibank Savings branches around the country can get the cash they need when they need it. 

All it takes is two hours to achieve your dreams, Citibank Savings president Tonet Itchon said in an interview. 

A leader in innovation for financial products and services, Citibank Savings designed a personal loan geared at empowering its customers with ready cash in as fast as two hours whether for education, house renovation, travelling with family and friends and business expansion.

Designed to meet the financial needs of both employees and entrepreneurs, Citibank Savings lets customers easily get a cash loan which they can pay at an affordable monthly instalments.

Itchon said that a Citibank Savings Personal Loan for education purposes could range from getting your child a head-on in her education to enrolling in a new course to broaden your horizons. Others take up masters/Phd courses to advance in their professions.

“Our personal loan goes beyond meeting emergency cash needs but also enriches the lives of our borrowers by helping them realize their dreams today,” Itchon said, adding that our “product can give clients the right push to grab opportunities in life otherwise not attainable without a financial assistance.”

Citibank Saving’s two-hour turnaround is a breakthrough in the industry which was launched in July last year.

According to Itchon, Citibank Savings was the first bank in the Philippines to offer loan approval in as fast as two hours. “Next to the offers of two weeks or at best one day, the two-hour delivery became a key differentiator for us, giving us lead market share,’’ he said.

Value on education

Education is top priority for most Filipino families. Most parents would do everything to give their children quality education, knowing that it is their ticket to a better future.

But today, education is no longer limited to just enrolling your children to a local school. A trend nowadays is when students travel abroad to hone their skills and gain more extensive experience. But the thing is,   these opportunities pop-up at the most unexpected time and sometimes parents don’t have ready cash to make a go for it. 

Itchon said they don’t have to pass up the once-in-a-lifetime opportunity for their children because there’s Citibank Savings Personal Loan to rely on. “We offer a very attractive option to consumers — a Personal Loan that can be procesed and with the cash released in as fast as two hours,” Itchon said.

To help consumers avoid falling into a debt trap, Citibank Savings also provides financial planning as part of evaluation of application. “As a responsible lender, we integrated financial planning as part of loan process. When the applicant passes credit evaluation, our Personal Bankers sit down with them for a financial check-up and together, they discuss the monthly amortization that best fits the clients budget,” Itchon said.

To be eligible for the loan, borrowers must be 21 to 65 years old, with a minimum annual gross income of at least P250,000.

Loan amounts begin at P25,000 to as much as P2 million, which they can pay in convenient and affordable terms of 12,18,24,36 and 48 months. A prospective borrower can enjoy as low as 1.26-percent monthly add-on rate on a 24-hour tenor, equivalent to 26.9-percent effective interest rate.

There are 36 Citibank branches all over the country and the cash in two hours guarantee is available in 15 branches.

Here’s some more awesome good news, for new clients who get a Citibank Savings Personal Loan and apply through www.citibank.com.ph from now until June 30, 2011. You can qualify and get a free trip to Boracay and Singapore.