Unsecured Debt Consolidation Loans for People with Bad Credit Offered by Citibank

Unsecured Debt Consolidation Loans for People with Bad Credit Offered by Citibank

Citibank has announced that they offer unsecured debt consolidation loans with amounts from $300-$7,500 with terms from 12 to 60 months for people with bad credit.

The bank explained that debt consolidation loans, which have two basic types-secured and secured, are used to combine multiple debts into one low interest obligation.

Citibank aim to lower the customer’s monthly payment and total amount paid. However, the bank noted that a bad credit history can make the process more expensive, but not impossible as borrowers with a bad credit score will typically pay more in interest.

Citibank, which also offers a wide range of loan products, revealed that they offer unsecured personal loans up to $5,000 but may require collateral and the interest rate will depend on the credit score of the borrower.