Citibank Personal Loan
CITI Bank offers personal loans that cater to various financial needs. With competitive interest rates and flexible repayment options, CITI Bank personal loans provide individuals the funds they need to fulfil their goals. Whether for home renovations, debt consolidation, or unexpected expenses, the bank offers quick approvals and hassle-free application processes. With various loan amounts available, customers can choose the loan that best suits their needs.
Unlock Best Personal Loan Offers From Citi Bank
Features and Benefits of Citibank personal loan
It is one of the most popular financial institutions for personal loans. This is due to Citibank's comfort and simplicity of banking. Customers looking for a personal loan can take advantage of a variety of incentives.
- Minimal documentation is required for the existing customers
- The maximum personal loan amount is Rs. 30 lakhs.
- Instant personal loans for pre-approved consumers with the fastest processing time of 48 hours
- Special financing made possible through Apple Inc. tie-ups; used to purchase Apple items
- Fixed interest rate for monthly payments that are predictable
- Repayment terms ranging from 12 to 60 months are available.
- Options for full and partial prepayment
- Outstanding credit card and personal loan balance transfers
- Citibank offers a top-up lending facility on current personal loans.
Citibank Personal Loan Overview
With Citibank personal loans, you can take control of your money and acquire funds fast and easily. Make the most of our quick and easy personal loans by taking advantage of minimum documentation and quick loan approval. After all, what good is a personal loan if you can't get it when you need it, whether it's to pay for a wedding or an unexpected medical bill? Take out a personal loan with low interest rates, flexible terms, and low EMIs to meet your demands without jeopardising your savings or present budget.
Citibank Fees and charges
|Minimum Loan Amount
|Rs.10,000 EMI on DC Rs.50,000 for Personal Loans
|Maximum Loan Amount
|3 months for EMI on DC 12 months for Personal Loans
|As applicable at the time of signing the loan agreement
|Interest deducted at disbursal would be calculated as: (Loan outstanding x ROI” % x Number of days remaining in a month)/ [365$ +(RO1#% x Number of days remaining in a month)]. Interest for every subsequent month would be charged as: Loan outstanding x ROI#%x (Number of days in a month/365$ days). #ROI= Rate of interest $366 in case of a leap year
|Up to 3.00% of the loan amount sanctioned; deductible from the loan amount at the time of disbursal.
|Late Payment Charges
|The payment instruction shall be presented from 1st of every month. There are no late payment charges.
|Loan Pre-closure Charges*
|Up to 4% on total principal outstanding at the time of calculating the amount for full and final settlement of account; plus, interest for the ongoing month. For a fuller understanding of the pre-closure process, please refer the FAQs.
|Applicable on the Loan Agreement and charged according to the prevalent State Laws.
CITI Bank Personal Loan Interest Rates
Personal loans from Citibank provide competitive interest rates. Personal loan interest rates can range from 9.99% to 16.49% each year, depending on criteria including your income, loan amount, loan length, and credit score.
|Rs.25,000 - 1,50,000
|6, 9, 12 months
|Rate of Interest
|18% for all customer segment
|5% on principal outstanding
Factors affecting Citi Bank personal loan interest rates
Banks consider a few crucial factors when determining your loan amount and interest rate eligibility.
A credit score is a detailed assessment of your creditworthiness. This indicator is used by banks to estimate your repayment potential. The higher your credit score, the greater your repayment ability, and you'll almost certainly obtain a better interest rate.
After taking into account all of their current responsibilities, banks favour clients who can comfortably pay their EMI. A larger income assures that the borrower will be able to repay the loan without difficulty. As a result, a person with a larger salary receives better interest rates.
Employment type & Employer
For the borrower, a reputable employer offers employment security and a steady stream of income. This ensures the bank that you will be able to repay the loan. As a result, working for a reputable employer improves your interest rate eligibility.
Relationship with the lender
It is critical to have a positive connection with your bank. Existing, loyal bank clients in excellent financial standing receive a variety of perks, including fast approval, a larger loan amount, and a cheaper interest rate.
Documents Required for Citi Bank personal loan
The following is a short list of documents required to apply for the loan:
|Proof of Identity
|Photograph (mandatory), PAN, Aadhaar Card, Driver’s Licence, Passport, Voter’s ID card, etc.
|Proof of Residence
|Driving License, Passport, Voter’s ID Card, Letter from Employer, etc
|Proof of Age
|Birth Certificate, School Leaving Certificate, Passport, etc
|Length of Employment
|Letter from Employer, Old Pay Slip, Form 16, etc
|Proof of Income
|Latest Salary Slip (not older than 3 months), 3 months bank statement, Latest Form 16
How the EMI calculation works for Citi Bank personal loans?
Before applying for a Citibank Personal Loan, candidates can use an online Personal Loan Eligibility Calculator to evaluate their eligibility. Within minutes, you may assess your eligibility for a Citi personal loan by submitting basic information such as your salary, desired loan amount, and whether you are salaried or self-employed.
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Citi Bank's Calculators
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Mutual Fund Scheme
Gold & Silver Rate
From refinancing to reducing your interest, we have the answers right here.
Is Opting for A Personal Loan Worth It?
Personal loans may be used for nearly any purpose and might be a useful option in some cases. If you have a steady income and a decent credit score, getting a personal loan is an excellent choice since you will be offered a cheap interest rate.
What Is The Minimum Salary For A Personal Loan?
Monthly income of minimum Rs. 25,000 is required to be eligible for Citi Personal Loan.
Does Citi Bank Provide Personal Loan at the best rate?
Citibank provides personal loans with interest rates ranging from 9.99 percent to 16.49 percent per annum. Individuals can borrow up to Rs.30 lakh from the lender.
What is the interest rate of personal Loan in Citi Bank?
Interest rate for Citibank personal loan starts from 9.99% onwards.
What are the benefits Citi Bank Provides on personal Loan?
- Avail personal Loan amount up to Rs.30,00,000
- Loan funds credited to your bank account in 48 hours
- Get your personal loan eligibility in just 4 hours
- Fixed interest rate for predictable monthly payments
- Part pre-payment option available
- Balance consolidation for your Credit Card and Personal Loan outstanding
Does Citi Bank have a fixed rate of interest on a personal Loan?
No, Citi Bank does not have a fixed rate of interest on a personal loan. This interest rate depends on various factors such as borrower’s income, loan amount, tenure, credit score etc.
How to check personal Loan Status in Citi Bank?
You must first call the Citi Bank helpline at 1860 210 2484, which is available 24 hours a day, seven days a week. The next step is to provide your Citibank Personal Loan application number, also known as a form number. The status of your personal loan application will now be provided to you. You can phone this number on a frequent basis to keep track of your application.
Does Citi Bank Checks for CIBIL Score for personal Loan?
For a personal loan, a CIBIL score of 720 to 750 is required. This score indicates that you are creditworthy, and lenders will swiftly accept your personal loan application.
What is the maximum and minimum personal Loan amount I can get from Citi Bank?
Currently the minimum personal loan amount offered is Rs. 10,000 while the maximum limit for a Citibank personal loan is Rs. 30 lakh.
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