Dubai-Citibank, a member of Citigroup, has launched the Business Installment Loan to help Emirates entrepreneurs start up and grow successful businesses. The unique credit service allows self-proprietors, LLCs, partnerships and companies to tap necessary finance that could reach up to Dh 75,000 and is repayable over a 4-year period.
The Business Installment Loan carries no collateral or security requirements and is available to non-Citibank customers as well. Moreover, the Loan comes with a range of products and services that include banking accounts, credit cards, investment services and financial planning products, in addition to 8-8 banking hours at Citibank branches. “At Citibank, we aim to provide tailored services that help facilitate the needs of small businesses, managed by retail clients, in such sectors as Travel&Tourism, Consultancy, Architecture, Media, IT and many more,” said Rajeev Kakar, Regional Head for Citibank's Consumer Bank in Turkey, Middle East & Africa, who is based in UAE. “This segment requires fast and easy access to funds for their business needs. With the new Business Installment Loan, small enterprises can now avail an easy and reliable loan together with the world-class service benefits from Citibank, that help them transact their businesses more effectively.”
The Business Installment Loan, a first in the market, reflects Citibank’s commitment to providing the best-in-class banking solutions in the UAE. Keeping apace with the fast developing UAE market, the bank is currently a major provider of credit cards and consumer credit services including personal and auto loans. Citibank’s consumer offer provides tailor-made banking solutions to a diverse clientele including consumer loans, CitiGold priority banking, and investment&savings services.
The personal banking offer is backed by the sophisticated CitiPhone Banking service, a virtual branch meeting all banking needs over the telephone, in addition to the unique 8-8 branch hours.