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Citibank launches EazyPay Loan
The Jakarta Post , Jakarta | Sun, 10/07/2007 8:27 AM
American financial giant Citibank is launching its latest sales financing product for the Indonesian market called EazyPay Loan.
EazyPay Loan will enable Indonesia's strong and emerging middle class to make critical purchases for their homes with the benefit of paying in convenient installments, with only a 60-minute loan approval process.
""Citibank EazyPay Loan epitomizes our strong commitment to the Indonesian consumer,"" Shariq Mukhtar, Citibank N.A.'s country business manager, said during the ceremony to launch the product in Jakarta on Tuesday.
The feature that makes this product extraordinary is that once the loan facility is availed of, the customer can use it over and over again, without having to re-apply for a new facility.
Citibank first launched its EazyPay program in 2003 and it has since become the preferred payment method by Citibank's customers to purchase their product by means of installments.
""EazyPay Loan is a natural extension of this great program. It allows non-Citibank cardholders to enjoy the benefits of this loan facility,"" said Shariq.
The Citibank EazyPay Loan provides the consumer with four benefits, that is ""instant"" (online approval within 60 minutes for all applicants with proven good credit history), ""flexible"" (customers can determine the installment amount depending on the range of tenors as long as it is not beyond the limit that has been approved), ""simple"" (EazyPay Loan can be used to purchase multiple items and also can be used over and over) and ""wide acceptance"" (accepted by all merchants that accept Visa Cards)
Consumers can apply for an EazyPay Loan at all EazyPay Zones including Best Denki. Citibank plans to rapidly roll out the online approval at Electronic Solutions, Agis, Apple and Sony Center. As part of its expansion program, EazyPay Loan can be used to purchase products in various participating EazyPay outlets in Jakarta, Bandung, Surabaya and Medan. -- JP
