I am using the CITIBANK suvidha account for the past 1 year and I got the facility of Ready Credit which is very useful. Ready credit is nothing but the overdraft of some amount from your accounts. This work in the following way.
If your salary is 25, 000/Month, then you will have the ready credit facility of 75, 000( 3times of your salary). This will be always there in your ready credit account(Automatically created). If you need you can use this amount anytime. The interest rates is 28%. They will charge Rs. 500 when you first use the card. Then Every month on the day of salary transfer, they will sweep the interest amount from your SB account linked and they will sweep 5% of the principal amount also. The sweeped principal amount will be again deposited in your ready credit account. You can again use the same amount if you need it again.
If you want to repay the amount, the process is pretty simple. Go to the internet banking facility given by citibank and transfer the money from your SB account to the ready credit account.
This facility is another form of Personal Loans. But this facility is better only if you are planning to repay the total money in short span of time(say 1-2 months). So you will pay interest only for the period you utilised(For example, you used Rs. 10, 000 for 1 month, then the interest will be 10, 000(28/12)(1/100)=Rs. 233.
I have used this facility and I never face any problems with it if I ignore the High rate of interest. For short span, it is not an issue.