CitiBank Personal Loan
Citibank Personal Loan schemes are reputed to be one of the friendliest and the most affordable ones available in the market. The loan can be used to meet varied financial requirements such as education expenses, medical expenses, travel expenses, wedding costs, home renovation expenses or any other bonafide cause. Citibank offers attractive interest rates on personal loans for online applications. The documentation requirements (detailed below) are nominal, and no collateral is required. Top-up option is also available with Citi personal loans. More details are provided below.
Why choose Citibank Personal Loan?
Citibank is the bank of choice when it comes to personal loans for a wide range of loan applicants as it offers a number of intrinsic advantages including:
Availability of High Loan Amount:
Citibank offers personal loans up to a maximum limit of Rs. 30 Lakhs, making it one of the highest loan amounts offered on personal loans in India. The availability of high quantum of loan amount makes Citibank personal loan suitable for anyone seeking a large loan amount.
Quick Loan Approval:
Citibank India offers quick personal loan approvals with the maximum timeline of personal loan approval set at 48 hours from the loan request submission. Furthermore, personal loan requests can be submitted online and the loan can be disbursed in the account of the eligible applicants within two working days if all the required papers are submitted.
Flexible Tenure:
Citibank personal loan offers a flexible repayment option with a tenure ranging from 12 months to 60 months. Personal loan borrowers can choose to pay large EMIs and close their loans quicker or opt to pay smaller EMIs and close the loan over a longer period of time, depending on their preferred repayment plan.
Attractive Rate of Interest:
Citibank charges very nominal interest rate for its personal loans making it one of the most popular banks when it comes to personal loan requirements. Citibank India offers a fixed rate of interest for all personal loans for allowing fixed EMIs through the entire tenure of the loan.
Loan Balance Consolidation Plan:
Citibank India allows its users the advantage of getting a balance consolidation of high cost credit cards and personal loan outstanding by transferring them to a single Citibank Personal Loan account to help manage their monthly cash flow better.
Features of Citibank Personal Loan:
Citibank is a popular choice for personal loans as the bank offers personal attention to each loan applicant with an assured loan approval within two working days. Some of the prominent features of Citibank personal loan include:
High Quantum of Loan:
Unlike a lot of other banks, Citibank offers a high quantum of personal loan amount without the need for any collateral or security. Citibank allows personal loans as high as Rs. 30 Lakhs for eligible candidates, making it one of the highest quanta of loans available in the Indian personal loan market.
Fixed Interest Rates:
Citibank India offers personal loans at nominal fixed interest rates making it one of the best personal loan service providers in the country. While Citibank reserves the right to revise the rate of interest and processing fee from time to time, at its sole discretion, the fixed interest rate means the loan EMI remains constant over the tenure, making it simpler for the borrower to repay the loan.
Quick Loan Disbursal:
Citibank offers quick loan approval and loan disbursal making it convenient for the loan applicants. Citibank has a 48-hour deadline for loan disbursal once the loan has been approved for the eligible candidates.
Specialized Loan Schemes:
Existing Citibank Suvidha customers can get a Citibank Personal Loan simply by logging into their Citibank Online account and sending an online application. Existing customers can also get their personal loan requests approved by simply talking to a CitiPhone officer and get quick loan approval with minimal documentation.
Easy Loan Application Process:
Citibank, being one of the pioneer banks in the country, offers an easy loan application process including loan approval and disbursal through online loan requests. Loan applicants can choose their online loan request or a traditional loan application process as per their convenience.
Dedicated Customer Support:
Citibank India offers a dedicated customer support that is functional 24/7 catering to the needs of all personal loan applicants and their queries. Getting a personal loan from Citibank India is just a phone call away for the eligible candidates.
Citibank Personal Loan Interest Rate 2018
Citibank offers fixed rate of interest for personal loans, and the rates offered by the bank is one of the lowest in the sector. Citibank offers different interest rates to different categories of people as per their employment background. The bank has also listed many companies into Category A and B, so that employees working in their listed companies can enjoy special discounted interest rates. Citibank is also in a tie-up with antworksmoney.com to offer discounted interest rates for applicants reaching out them through the antworksmoney.com website.
The benefit of taking a fixed rate loan is that irrespective of market fluctuations, your interest rate and EMI will remain steady. Citibank personal loan interest rate ranges from 10.99% to 18.99%.
| Minimum Loan Amount | Rs.1 lakh |
| Maximum Loan Amount | Rs.30 lakh |
| Minimum Duration | 12 months |
| Maximum Duration | 60 months |
| Processing Fee | 0 |
| Late Payment Charges | The payment instruction shall be presented from 1st of every month. There are no late payment charges. |
Interest Rates for Salaried Employees and Self-Employed Individuals
| Income Category | Applicable Interest Rate |
| Cat A salaried employees | 10.99% – 13.99% |
| Cat B salaried employees | |
| Self-employed individuals | Non-professionals: 15.99% – 18.99% |
| Professionals: 14.99% – 16.99% |
Check more details about Citibank Personal Loan Interest rates
Citibank Personal Loan Eligibility
Citibank offers personal loans for both salaried as well as self-employed professionals and non-professionals (SEPs & SENPs). The minimum eligibility criteria for salaried employees for availing a Citibank personal loan is a take-home salary of Rs.3 lakh p.a. If you are a self-employed professional, the bank would offer you a personal loan even if your annual take-home salary is less than this.
To become eligible for applying for a Citibank personal loan, one should be at least 23 years of age (25 years of age for salaried Category B individuals). The maximum age limit for availing Citibank Personal loan is 60 years at the time of loan maturity.
Age criteria for Citibank Personal Loan
| Salaried Cat A | Salaried Cat B | Suvidha |
| Minimum: 23 years | Minimum: 25 years | Minimum: 23 years |
| Max: 60 years at the time of loan maturity for Salaried | Max: 60 years at the time of loan maturity for Salaried | Max: 60 years at the time of loan maturity for Salaried |
Citibank Personal Loan Eligibility Criteria for Salaried Individuals
| Age | Minimum: 23 Years (25 Years for salaried Category B individuals) Maximum: 60 Years |
| Minimum Annual Income | Rs.3 lakh p.a. |
| Total years in job/profession | 2 Years |
| Years in current residence | 1 Year |
Citibank Personal Loan Eligibility Criteria for Self-Employed Individuals
| Age | Minimum: 25 Years Maximum: 65 Years |
| Minimum Annual Income | Self- employed professionals and non-professionals: Rs.5 lakh p.a |
| Total Years in Profession | 3 Years |
How to calculate EMI for Citibank Personal Loans?
Getting to know your EMI before applying for loan will be helpful for anyone to plan their finances in advance and to increase or decrease the tenure accordingly.
With Citibank Personal Loan EMI Calculator, users can know their EMI instantly by simply entering the amount of the personal loan, loan tenure and rate of interest. The Personal Loan Calculator then calculates and displays the EMI liability for the loan. antworksmoney.com online EMI calculator tool is helpful in calculating EMIs for any loans.
Citibank Instant Loan
Have a Citibank credit card? Great! You can enjoy a loan against the credit or your cash limit by applying for a Citibank Instant Loan. You can pick your loan tenure for this product as you wish. The loan tenure ranges from 6 to 48 months. This product comes with a free look period. You will get a demand draft, which is applicable for 30 days. If you do not encash it within 1 month, then this demand draft will be invalid and you will not have to pay any charges. Your EMIs will begin only after you encash your demand draft.
Citibank Credit Card Loan
Have a Citibank credit card? Have some unused credit limit on your card? This unused limit will be utilised to give you a loan. It is a pre-approved loan that can be obtained very easily from the bank. You will not have too many restrictions with this loan. The interest rates for this loan range from 12% to 19% p.a. If you feel like pre-closing your loan, you may be asked to pay 3% of your unsettled amount.
Citibank Personal Loan Status
Are you wondering what’s your Citibank personal loan application status is? Why don’t you check it on their official website instantly? You will have to keep your loan application details carefully for monitoring your status. You will need to enter your loan application number or loan form number in the accurate fields on the online status tracking tool, which can be accessed on the bank’s official website. You may also go on ‘Citibank Online’ with your user ID and IPIN to find out the status of your personal loan application.
Citibank Personal Loan Customer Care
Are you having trouble calculating the EMIs for your Citibank Personal Loan? Why don’t you reach out to a customer care executive from the bank? The bank has many helpline numbers for customers who live in India and one helpline number for customers who stay abroad. You can call the bank and express your concern, and a skilled representative from the bank will provide you with immediate assistance. You may also log into your Citibank internet banking account with your correct username and password. While filing a complaint, always ensure that you mention your loan account number.
