Citibank Personal Loan

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Citibank Personal Loan is an unsecured loan that provides salaried and self-employed individuals with the financial means to fulfill their personal needs and goals. Whether it’s for home renovation, debt consolidation, a dream vacation, or an unexpected expense, a personal loan offers a lump sum of money upfront, which is paid back in monthly installments over a set period.

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CITI Bank Personal Loan

  • Interest Rate

    10.75% - 16.49%

  • Loan Amount

    ₹50K - ₹30L

  • EMI Per Lakh

    ₹2,162 - ₹2,458

  • Processing Fees

    Up to 3% of the borrowed loan amount
  • Pre-Payment Charges

    Up to 4% of the outstanding principal plus interest for the ongoing month

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.

Feature Description
Citi Bank Loan Type Unsecured Personal Loan
Purpose Marriage, Home renovation, Travel, Emergencies, etc.
Interest Rates 9.99% p.a. - 16.49% p.a.
Loan Amount 1 Lakh to Rs.30 lakh
Processing Fees Up to 3.00%
Disbursal Time Funds often available within 48 hours of approval
Repayment Terms Flexible options ranging from 12 to 59 months
Eligibility Criteria Salaried and self-employed individuals

Citibank Personal Loan Interest Rate, Fees and Charges

Citibank offers competitive interest rates and a transparent fee structure for its personal loans. Here’s a summary of the interest rates, fees, and charges for a Citibank Personal Loan.

Interest Rate As applicable at the time of signing the loan agreement
Booking Fee* 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.
Stamp Duty Applicable on the Loan Agreement and charged according to the prevalent State Laws.

Factors affecting Citi Bank personal loan interest rates

The interest rates for Citibank Personal Loans are influenced by several factors, which include:

  • Loan Amount: Typically, borrowing a larger sum may qualify you for a slightly lower interest rate compared to smaller loans.
  • Loan Term (Repayment Period): Shorter loan terms (e.g., 12 months) often come with lower interest rates because you're repaying the loan faster and posing less risk to the bank.
  • Employment Status and Income: Stable employment and a healthy income demonstrate your ability to repay the loan. This can influence the interest rate offered.
  • Existing Relationship with Citibank: Being a loyal Citibank customer (having a savings account, etc.) might get you a better interest rate on your personal loan.

Documents Required for Citi Bank personal loan

The following is a short list of documents required to apply for the loan:

Credit  Documents required
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.

FAQs

From refinancing to reducing your interest, we have the answers right here.

Is Opting for A Citi Bank 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.

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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