Citi Personal Loan Plus Australia offers up to $55,000 unsecured for home renos with redraw and no early repayment fees

Explore Citi Personal Loan Plus for Aussie home renos

Citi Personal Loan Plus lets you borrow up to $55,000 unsecured, which makes it a solid option for home renovations, car purchases or debt consolidation in Australia. The product’s standout points are the reusable credit facility and no early repayment fees, features that Aussies looking for flexibility will appreciate.

With a competitive variable rate and a special offer waiving the $10 monthly fee for a limited time, the Citi Personal Loan Plus balances affordability and convenience. If you want to fund renos without putting your home on the line, an unsecured personal loan like this is worth a look.

Key features that matter

The reusable credit facility is the big draw: as you repay, you can redraw the amount you’ve paid back, handy for unexpected reno overages or last-minute tradesman costs. The loan offers borrowing from $2,000 up to $55,000 unsecured, so it fits small upgrades as well as larger projects.

Other practical perks include no early repayment fees and a transparent fee structure – there’s an establishment fee (typically $199) and the monthly fee can be waived with the current offer. The variable interest rate and comparison rate are disclosed, helping you compare against other personal loans in Australia.

How the application works in Australia

Applying for Citi Personal Loan Plus is straightforward and most Aussies can do it online in around 10 minutes. You’ll need to be at least 18, a permanent resident or citizen, and supply ID plus proof of income like payslips or bank statements.

Have your BSB and account number ready, and be aware that Citi requires proof of regular income to ensure you can service the loan. The process is user-friendly and aimed at quick approvals so you can start your home renovations sooner.

Costs, pros and when it suits you

Costs to note include a variable interest rate (advertised around 10.90% p.a.) and a comparison rate close to 11.19% p.a., plus the one-off establishment fee. The absence of early repayment fees and the redraw feature can save you cash if you repay early or need funds again.

Pros are clear: up to $55,000 unsecured, flexible redraw, and no penalties for early payoff. Cons include variable rate uncertainty and the requirement to show income. If you want flexibility for Aussie home renos without risking your home as security, Citi Personal Loan Plus fits well.

Before you commit, compare this personal loan against others on interest rates, fees and features like redraw and monthly fees. Doing a side-by-side comparison in the Australian market will help you decide if Citi Personal Loan Plus is the best fit for your reno plans or if another lender offers a better deal.