Summary
PayLink Card helps improve B2B settlement system such as bill clearing and payment in cash,and supports fund settlements.
It allows the purchasing company to lower internal control costs through purchase, settlement and reconciliation process improvements,
and the supplying company can benefit from reduced financing costs with better collection process and cash flow.
| Loan extended to | Corporate customers/sole proprietorship |
| Loan amount | Within the fund amount needed |
| Payment method | Bullet/installment payment |
| Default clause | As per credit card agreement and credit agreement. |
| Tenor | Determined depending on fund usage, payment capability and revenue. |
| Interest rate | Interest rate is determined considering cost of credit, operating cost and other costs. There are fixed rate and floating rate. In principle, fixed interest rate does not change once set until maturity whereas floating rate reflects up and down movements of market rate or bank rate. For more information, please refer to the Agreement. (For actual rate quotation, please contact your CKI branches.) |
| Collateral | Collateral will be determined during credit evaluation process. |
| Other fees | “Credit evaluation fee : Branch evaluation \35,000, HQ evaluation \70,000, and others as per CKI fee guidelines.” |
The above description is valid until notice on product sales closure.
Tax Benefits
- - Up to 0.3% of the settlement amount (applies only to transactions between SMEs)
Business Flow
Benefits
- - First introduced in Korea with variuos customized services available
- - Reliable system functionalities and compatibility
- - Convenient business process through coporate internet banking service
For more information
- - Please contact your Citibank branches for more details of the product.
