Home / Personal Loan / Citibank
Interest Rate
11.14 - 19
Processing Fee
2.50% Max
Loan amount
100000.00 - 1000000.00
Tenure
5 years
Avail loan amount from Rs. 1 Lac to Rs. 30 Lacs, for any purpose such as home improvements, planning your dream wedding or tidy up your finances with a balance consolidation loan.

Get loan disbursal into your bank account in 48 hours.

Enjoy fixed interest rate for predictable monthly payments and get greater control over monthly payments.

Enjoy flexible repayment options ranging from 12 months to 60 months.

Citibank Personal Loan

Citibank Personal loan serve a wide range of funds for both Salaried and Self-Employed. It provides you a minimum amount of Rs. 1 Lac to maximum of Rs. 30 Lacs lending amount with annual interest rate of 10.99% to 18.99% per annum. The time of funding is within 48 hours of approval. It provides 12 to 60 months of repayment duration and the interest rate is applicable.


Citibank is a good fit for you if?

Existing Customers – Citibank Personal Loan is a quick and evident way for you to access extra cash whenever you need. If you are already a customer of Citibank, you can avail the privilege of minimum documentation and fast track loan application. An existing customer can be a Citibank Suvidha Account holder, existing personal loan borrower or a borrower who have availed mortgage facility from Citibank or anyone who have a Branch Relationship in any of the Citibank Branch.

Quick Services – You can get the loan within 48 hours (two working days) after it has been sent by registered post, under certificate of posting, ordinary post or courier at the discretion of the bank.

If You Have Average to Good Credit Score – If you are having average to good credit score, then Citibank could be a good choice for you as it offers you an outstanding balance consolidation for your credit card and personal loan so you can take advantage of this.

Salaried & Self-Employed – Unlike other competing banks offering personal loans to the selected group of borrowers, citibank offers personal loans for all kinds of borrowers, whether you are Salaried individuals, Self-Employed Professionals or Self-Employed Businessman.

Citibank Personal Loan at a glance

Annual Interest Rate

10.99% - 18.99%

Loan Term

12 Months - 60 Months

Loan Amount

Rs. 1 Lac - Rs. 30 Lacs

Time of Funding

Within 48 hours of Approval

Pre-Payment Charges

Zero to Upto 4% of the Loan Amount

Citibank Personal loan have a fixed interest rate which means the amount you pay will remain same throughout the year. The annual Interest Rate of the Bank is 10.99% to 18.99% and the loan term is from 12 months to maximum of 60 months. The minimum amount of loan one can take is Rs. 1 Lac to upto maximum of Rs. 30 Lacs and you can get your fund within 48 hours (two working days) once you submit the necessary documentation. The Prepayment Charges varies from Zero to upto 4% of the Loan Amount.

Why Choose Citibank?

No Late Payment Charges – You can choose Citibank Personal loans as its the easiest and quickest way of borrowing loans from the bank without any late payment charges on its personal loan borrowers unlike its competing banks such as HSBC Bank, Kotak Mahindra Bank, HDFC Bank, and Axis Bank etc. who charges late payment charges equal to 2% of the overdue amount.

Part-Payment Available – Citibank offers its customer to close their personal loan through Part-payment unlike many other banks and financial institutions like Capital First, Fullerton India and Kotak Mahindra Bank. The Part-payment amount can be equal to minimum 2 months EMIs and maximum 5 months EMIs and will result in decrease in the loan tenure equal to the number of EMIs paid as the part-payment.

Interest rate applicable on Daily Reducing Balance – The interest rate levied by Citibank is calculated on the daily reducing balance and reflect on your monthly account balance. The interest rate applied each day is equal to your annual interest rate at the time, divided by 365.

What to watch out for?

12 Months Locked-in Pre-Payment Period – The minimum period that a borrower has to serve before prepaying his/her loan, is limited to 12 months. Hence, either you want to prepay your personal loan through foreclosure or partial-closure, you have to first pay the 12 EMIs consecutively starting from the first month from the date of loan disbursal. Apart from it, in case of part-payment, you can only make part-payment once allowed in the period of 12 months.

Operating within few Indian Cities – Citibank offers personal loans within very few selected Indian Cities, mentioned as follows – Delhi, Mumbai, Chennai, Bangalore, Hyderabad and Kolkata .

High Amount for Loan Booking – In case you are applying for personal loan at Citibank, then you should consider that you have to pay booking charges equal to upto 2.5% of the sanctioned loan amount, which is quite a big amount. That means if you are availing a personal loan of Rs. 1 Lac, then the booking charges can be as high as upto Rs. 2500 and if you availing a personal loan of Rs. 30 Lacs then you might have to pay booking charges as high as Rs. 75,000.

Interest Rate would start accumulating from loan booking date – The interest rate applicable on Citibank personal loan would start from the date of booking. The total interest rate starting from the date of booking to the end of the month of loan booking will be deducted from the sanctioned loan amount at the time of the disbursal.

Payment Due Date is 7th of each month – Citibank has set a fixed date for payment due date for the personal loan which is 7th of each month, following the month in which disbursal is made. Hence, if you receive your monthly salary after 7th of each month, then you payment will always get due each month unless you already save the funds for the next month payment. However, Citibank doesn't charge any late payment fee.

High Monthly Income Criteria – If you want to avail Citibank Personal Loan, then you must have a net take-home pay of at least Rs. 30,000 per month for all your needs which means you really need a high monthly remuneration.

High Processing Charges for Self-Employed Applicants – Citibank levies a minimum processing charge which is equal to 2% of the loan amount to Self-Employed individual Applicants regardless of Self-Employed Professionals or Self-Employed Businessman, which goes as high as 3% of the loan amount unlike Salaried applicants who pay processing fee only ranging from 0.99% to 2% of the loan amount.

High Annual Interest Rate for Self-Employed Applicants – Citibank charges a high interest rate slab for Self-Employed Applicants starting from 14.99% per annum to upto 18.99% per annum of the outstanding amount as compared to annual interest rate of 10.99% to 17.99% of the loan amount being charged to Salaried Applicants.

Compare Citibank Personal Loans to Other Banks

Bank Name Citibank Standard Chartered HSBC

Typical APR

10.99% - 20%

10.99% - 18.65%

10.99% - 17.84%

Loan Term

12 Months - 60 Months

12 Months - 60 Months

6 Months - 60 Months

Maximum Lending Amount

Rs. 30 Lacs

Rs. 30 Lacs

Rs. 30 Lacs

Processing Fee

0.25% to 3% of the Loan Amount

Zero to upto 2% of the loan amount

50% off on online application

Up to 2.5% of the loan amount

Time to Funding

Within 48 hours of Approval

Within 4 to 7 working days

Within 15 days

Pre-Closure

Up to 4% on total principal outstanding

1% - 5% of the Principal Outstanding

Up to 3.75% of Principal Outstanding

The comparison of Citibank with other banks is shown below, as the Typical APR of Citibank is 10.99% to 20%, 10.99% to 18.65% of Standard Chartered and 10.99% to 17.84% in case of HSBC. The loan term of citibank is 12 months to maximum of 60 months, while 12 months to maximum of 60 months in case of standard chartered and 6 months to 60 months in case of HSBC Bank. Now coming to the maximum lending period, all of these offers you the same amount maximum of Rs. 30 Lacs.

The processing Fees charged by Citibank is 0.25% to 3% of the amount of loan, and Zero to upto 2% of the amount of loan (50% off on online application) in case of Standard Chartered and in HSBC, upto 2.5% of the amount of loan. The time of funding of Citibank is within 48 hours of approval(two working days) and within 4 to 7 working days in case of SCB, and in HSBC, the time of funding is within 15 days. The pre-closure of citibank is upto 4% on total principal outstanding, 1% to 5% of the principal outstanding in case of Standard Chartered and upto 3.75% of Principal Outstanding in HSBC.

Am I Eligible?

  • Age of the applicant should be minimum 23 years at the time of loan application and maximum 60 years at the time of loan maturity.
  • Minimum net monthly income of the Salary applicant should not be less than Rs. 30,000.
  • Applicant should have a minimum of 2 years total experience of work.

Loan Offerings

Citi Personal Loan for Salaried

  • Being a salaried employee, you can get a personal loan of minimum Rs. 1 Lacs and maximum of Rs 30 lacs from citibank. You have to repay your loan within 12 to 60 months . However, the period of time you take the loan over will affect the size of your repayment. Just keep in mind that the longer you take to repay your loan, the more interest you will be charged over. Salaried employees are divided into two categories such as Categorised corporates and Uncategorised corporates.
  • The Categorised salaried Corporates who are having net-take home pay of less than Rs. 60,000 per month can avail personal loan of minimum Rs. 1 Lacs and maximum of Rs. 5 Lacs with interest rate ranging from 12.99% to 13.99% per annum and the processing charges of 0.99% to 2% of the amount of loan. The categorised corporates who are availing personal loan of Rs. 5 Lacs and the interest charged will be 12.24% to 12.99% per annum and the processing charges will be equal to 0.99% to 2% of the loan amount. The categorised salaried corporates who are availing personal loan of Rs. 10 Lacs upto Rs. 30 Lacs have to pay the interest rate ranging from 11.49% to 12.49% per annum with the processing fee of 0.25% to 0.50% of the amount of loan.
  • A Categorised Salaried Corporate with net take-home pay of Rs. 60,000 per month to less than Rs. 1 Lac per month and are availing personal loan of Rs. 1 lacs to less than 5 lacs will be charged with a interest rate ranging from 12.75% to 13.75% per annum and processing charges ranging from 0.99% to 2% of the amount of loan. The categorised salaried corporates who are availing personal loan of Rs. 5 lacs to less than Rs. 10 lacs will be charged with the interest rate ranging from 11.49% to 12.49% per annum and the processing charges ranging from 0.99% to 2% of the loan amount. The categorised salaried who is availing personal loan of Rs. 10 lacs to upto Rs. 30 Lacs will be charged an interest rate ranging from 10.99% to 11.99% per annum and processing charges ranging from 0.25% to 0.50% of the loan amount.
  • A Categorised Salaried Corporate who are having net take-home pay of Rs. 1 Lac per month or above and who are availing personal loan of Rs. 1 Lacs to less than Rs. 10 Lacs have to pay the interest rate ranging from 10.99% to 11.99% per annum and the processing charges ranging from 0.99% to 2% of the amount of loan. The Categorised salaried corporates who are availing personal loan of Rs. 10 Lacs to upto Rs. 30 Lacs will be charged with the interest rate ranging from 10.99% to 11.99% per annum and the processing fee of 0.25% to 0.50% of the loan amount.
  • An Uncategorised Salaried Corporate with net take-home pay of upto Rs. 50,000 per month, can avail personal loan of Rs. 1 Lac to upto Rs. 30 Lacs with interest rate 16.99% to 17.99% per annum and processing charges ranging from 1% to 2% of the loan amount.
  • An Uncategorised Salaried Corporate with net take-home pay of above Rs. 50,000 per month to upto Rs. 1 Lac per month , can avail personal loan of Rs. 1 Lac to upto Rs. 30 Lacs with interest rate 15.49% to 16.49% per annum and processing charges ranging from 1% to 2% of the loan amount.
  • An Uncategorised Salaried Corporate with net take-home pay of above Rs. 1 Lac per month , can avail personal loan of Rs. 1 Lac to upto Rs. 30 Lacs with interest rate 14.49% to 15.49% per annum and processing charges ranging from 1% to 2% of the loan amount.
  • Documents required for Salaried Personal Loan:
    • Latest one or 2 salary slip of upto last 3 months along with latest Form 16.
    • Last 3 months bank statement
    • Letter from employer / Old PaySlip or Form 16 / HR check by designated CPA resource.
    • KYC Documents along with Photographs

Citi Personal Loan for Self-Employed Professionals

  • A self-employed Professional who is having gross annual take-home income of Rs. 9.99 Lacs, can take personal loan of minimum Rs. 1 Lac to maximum of Rs. 30 Lacs with annual interest rate ranging from 15.99% to 16.99% and with the processing fees of minimum 2% to maximum of 3% of the amount of loan.
  • A self-employed Professional who is having gross annual take-home income of above Rs. 10 Lacs can take personal loan of Rs. 1 Lacs to Rs. 30 Lacs will be charged annual interest rate ranging from 14.99% to 15.99% and the processing fees ranging from minimum of 2% to maximum of 3% of the amount of loan. The repayment period of loan is from 12 months to 60 months.
  • Documents required for Personal Loan for Self-Employed Professionals:
    • Last 2 Years ITR
    • Last 6 months bank statement
    • Business Income Proof (P&L Account, Balance Sheet, Audit Report) as certified by C.
    • Business Ownership Proof
    • Highest Qualification Degree
    • Loan Application along with KYC Documents along with Photographs

Citi Personal Loan for Self-Employed Businessman

  • A self-employed Businessman whose gross annual take-home income is Rs. 9.99 Lacs, can take personal loan of minimum Rs. 1 Lacs to maximum of Rs. 30 Lacs and will be charged with annual interest rate ranging from 17.99% to 18.99% and with the processing fees of minimum 2% to maximum 3% of the amount of loan.
  • A self-employed Businessman whose gross annual take-home income is Rs. 10 Lacs, can take personal loan of minimum Rs. 1 Lacs to maximum of Rs. 30 Lacs and will be charged with annual interest rate ranging from 15.99% to 17.99% and with the processing fees of minimum 2% to maximum of 3% of the amount of loan. The repayment period of loan is from 12 months to 60 months.
  • Documents required for Personal Loan for Self-Employed Businessman:
    • Last 2 Years ITR
    • Last 6 months bank statement
    • Business Income Proof (P&L Account, Balance Sheet, Audit Report) as certified by CA.
    • Business Ownership Proof
    • KYC Documents along with Photographs

Citibank Personal Loan Balance Transfer

  • The maximum balance transfer amount is equal to upto Rs. 15 Lacs and the interest rate charged will be ranging from 18% to 24% per annum on that total principal outstanding amount. You are allowed to transfer maximum of 2 credit cards balance or 2 personal loan. If the loan is availed against any other banks credit card or personal loan, then Citibank will provide you the loan amount in the form of a demat draft with a validity of 90 days. The repayment period of the loan will proceeds from the date of the issuance of the demand draft and the processing fees will be equal to 2.5% of the amount of loan or minimum of Rs. 300.

Citibank Personal Loan against Credit Card

  • Personal Loan against Credit Limit of existing Citibank Credit Card. The maximum amount should be equal to the available credit limit on the card or above and the interest rate will be ranging from 12% to 22% per annum on the principal outstanding amount. The amount which is availed will result in blocked credit limit to the same value and the repayment period ranges are 6 months, 12 months, 24 months. 36 months and 48 months respectively.
  • The draft which is valid for 30 days will be sent to you within 3 days of approval at your registered communication address. The repayment period however starts from the date of encashing the demand draft provided by Citibank and zero documentation. The processing Charges will be equal to 2.5% of the amount of loan or minimum of Rs. 300. If the amount is paid against the outstanding credit card balance and is less than the total due amount, then the finance charges will start from 3.10% per month to 3.50% per month would be levied on the payment which is due and will be mentioned in the monthly credit card statement. The Prepayment charges would be equal to the 3% of the principal outstanding amount.

Citibank Personal Loan Rate of Interest

Personal Loan Type Applicable Interest Rate

Citibank Personal Loan for Salaried

10.99% - 17.99% per annum

Citibank Personal Loan for Self-Employed Professionals

14.99% - 16.99% per annum

Citibank Personal Loan for Self-Employed Businessman

15.99% - 18.99% per annum

How do I apply for Citibank Personal Loan?

At Paisa

    • Check out Citibank Personal Loan offerings above and click on "Apply Now".
    • Provide your information such as mobile number, email id, monthly income, age and loan amount you want avail etc.
    • Submit your details and wait for the bank for the approval of loan application.

At Andhra Bank Branches

    • Walk-in to the nearest Citibank Branch and go to the helpdesk.
    • You can fill out the Personal Loan Application available with help desk representative. Or, you can simply download the form from here.
    • Submit the personal loan application back to the application along with the required documents.

Note: Citibank will notify you about the status of your personal loan application within 2 to 4 working days.

After I Apply?

Check loan status

    • After applying for the Citibank Personal Loan, You can check the personal Loan status by Dialing 1860-210-2484 on your phone.
    • Then, For English Press 1 and for Hindi Press 2.
    • Press 2 for intimation of your personal loan status.

Once I'm Approved?

Once you are approved, Check Personal Loan Agreement

    • Click here to check Citibank Personal Loan Agreement.

Check Personal Loan Service Terms

    • Click here to download Citibank Personal Loan Service Terms.

Check Personal Loan Most Important Terms & Conditions

    • Click here to download a copy of Citibank Personal Loan MITCs.

Fees & Penalties

Type of Charge Applicable Charges

Processing Charges

For Personal Loans: Up to 2.5% of the loan amount


For Personal Loans against Credit Card and Balance Transfer: 2.5% of the loan amount or Minimum Rs. 300

Foreclosure Charges

For Personal Loans: Upto 4% of the total principal outstanding plus interest rate for the ongoing month.


For Personal Loans against Credit Card and Balance Transfer: 3% of the principal amount


For Personal Loan Top-Up: 0% if loan is closed with the opening of new personal loan under the same scheme.

Part-Payment Charges

3% of the prepaid amount

Penal Interest

Nil

Loan Booking Charges

Upto 2.5% of the loan amount

There are different types of charges such as Processing Charges, Foreclosure Charges, Part-Payment Charges, Penal interest and Loan Booking charges. The Processing Charges, applicable for personal Loan is upto 2.5% of the amount of loan and for personal loans against credit card and balance Transfer, the applicable charge is upto 2.5% of the amount of loan or minimum of Rs. 300. The Foreclosure Charges applicable for Personal Loans are upto 4% of the total principal outstanding plus interest rate for the ongoing months and for Personal Loans against Credit Card and Balance Transfer is upto 3% of the principal amount while for Personal Loan Top-Ups, the applicable charge is 0% if loan is closed with the opening of new personal loan under the same scheme. The Part-Payment Charges are upto 3% of the prepaid amount. The Penal Interest is nil and the Loan Booking Charges are upto 2.5% of the amount of loan.

FAQs

When will I receive account statement for my citibank personal loan?

Citibank will send you a statement of account as of 31st March of each year showing the amount due, the interest charged, and such other particulars as the bank may deem required.

When my Citibank Personal Loan EMIs would start?

You can start paying off EMIs of your Personal Loan from the 1st day of the second succeeding month from the month of loan disbursal. For an example, for a loan disbursed on 10th April 2018, EMIs can be started from 1st of June 2018.

What is the due date for the repayment of EMI?

The due date for the repayment of EMI's shall be 7th of every month, following the second succeeding month from month of loan Disbursement.

Can I repay my loan through NEFT/RTGS?

Yes, the bank will accept payments through NEFT / RTGS, You just have to avail such option when required to make payment towards the loan account.

Can I prepay the entire outstanding balance of the loan after the expiry of first 12 months of loan tenure?

No, This is only applicable for loans booked on or after October 1, 2015.

You may prepay a part of outstanding balance of the loan subject to the following conditions:

  • The borrower should have been a Citibank Personal Loan customer for a period of at least 1 year from the date of the loan booking.
  • The amount prepaid partially by the borrower must be equivalent to minimum of 2 EMI's and maximum of 5 EMI's.
  • The borrower can have partial prepayment only once in 12 months.
How can I apply for Citibank Personal Loan Top up?

You can apply for top-up either through contacting Customer Care or by simply sending a message to Citibank.

Through Call

  • Click here and fill the form
  • You'll get a call back from Citibank Customer Support representative.

Through SMS

  • Write PL and send it to 52484 from your registered mobile number. If you are not on Aircel / Airtel / Vodafone / Idea, send the SMS to +919880752484

When will I get my Citibank Personal Loan statement?

Citibank issues the statement for Personal Loan on the 31st of every year, which will be delivered to your registered address. However, if you wish to check your statement anytime sooner, then you can either login to your Citibank Online Netbanking services or contact Citibank 24/7 Customer Support.

How to pay my Citibank Personal Loan EMIs?

Citibank provides three different ways to their customers to pay their personal loan EMIs. Here are the all three methods explained.

Through Billdesk:

  • Click here to go to the Citibank Billdesk page.
  • Enter your 13-digit alphanumeric personal loan number as allotted by Citibank and re-enter it for confirmation.
  • Enter other details like registered email id, mobile number and amount you want to pay.
  • From the drop-down list, select a bank from which you want to pay your dues.
  • You'll be redirected to the online netbanking page of your selected bank.
  • Login with credentials of your other bank's net banking services.
  • Authorised the transaction by entering your transaction password or OTP and click on "Confirm".
  • Receive the acknowledgment of the transaction.

Through Standing Instructions

  • Click here to download the Personal Loan Standing Instructions form.
  • Fill the required details.
  • Now write a Check in the name of your 10-digit Citibank Personal Loan Account Number and signed it.
  • Submit the form along with the cheque at the nearest Citibank Billing Office or you can simply send the form to Citibank via post at the following address: Citibank N.A. Mail Room, Acropolis, 9th Floor, New Door No. 148 (Old No. 68), Dr. Radhakrishnan Salai, Mylapore, Chennai – 600004

Note: The signature on the Standing Instruction form and the cheque must match as per your Citibank Personal Loan Account other your application might get rejected.

Through NACH or Direct Debit

  • Click here to download the Personal Loan NACH Mandate form.

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