Citibank offers low-interest personal loans with an interest rate starting at 9.99% p.a., you can avail of loans up to Rs. 30 Lakhs for five years tenure.
Citibank Personal Loan Fees and Charges
| Loan Amount | Minimum: Rs.50,000 Maximum: Rs.30 lakh |
| Tenure | 12 months to 60 months |
| Interest Rate | 9.99% p.a. – 16.49% p.a. |
| Processing Fees | Up to 3.00% |
Citibank Interest Rates for Salaried Individuals
| Income | Loan Amount | Up to 4 years | More than 4 years | Processing Fee |
| Less than Rs.60,000 per month (net take home salary) | Less than Rs.5 lakh | 12.99% p.a. – 13.99% p.a. | 13.24% p.a. – 14.24% p.a. | 0.99% – 2.0% |
| Rs.5 lakh to Rs.10 lakh | 11.99% p.a. – 12.99% p.a. | 12.24% p.a. – 13.24% p.a. | 0.99% – 2.0% | |
| Rs.10 lakh and above | 10.99% p.a. – 11.99% p.a. | 11.24% p.a. – 12.24% p.a. | 0.50% – 0.99% | |
| Rs.60,000 to Rs.1 lakh per month (net take home salary) | Less than Rs.5 lakh | 12.25% p.a. – 13.25% p.a. | 12.50% p.a. – 13.50% p.a. | 0.99% – 2.0% |
| Rs.5 lakh to Rs.10 lak | 11.50% p.a. – 12.50% p.a. | 11.75% p.a.- 12.75% p.a. | 0.99% – 2.0% | |
| Rs.10 lakh and above | 10.50% p.a. – 11.50% p.a. | 10.75% p.a.- 11.75% p.a. | 0.50% – 0.99% | |
| Rs.1 lakh and above per month (net take home salary) | Less than Rs.10 lakh | 10.50% p.a. – 11.50% p.a. | 10.75% p.a. – 11.75% p.a. | 0.99% – 2.0% |
| Rs.10 lakh and above | 10.50% p.a. – 11.50% p.a. | 10.75% p.a. – 11.75% p.a. | 0.50% – 0.99% |
Citibank Instant Personal Loans
| Interest Rate | Processing Fee |
| 9.99% – 14.99% | Up to 2.00% |
Why Choose Citibank Personal Loan?
Citibank personal loans can be the best options for a variety of reasons. Here are some of the key features and benefits of Citibank personal loans:
- Loan amounts up to Rs.30 lakh
- Quick disbursal in just 48 hours
- Availability of part pre-payment facility
- Attractive interest rates starting from just 9.99% p.a.
- Minimal documentation for existing Citibank customers
- Flexible repayment options ranging from six months to 60 months
Citibank Personal Loan Eligibility Criteria
The following are the eligibility criteria for Citibank personal loans:
| Age | The applicant should be above the age of 18 years. For more information contact an official from CitiBank. |
| Employment Type | Salaried or self-employed |
| Net Salary | Contact bank for more information. |
Documents Required for Citibank Personal Loan
Here are the documents you will have to submit when applying for a personal loan from Citibank:
| CriteriaCriteria | CriteriaSalaried Individuals | CriteriaSelf-employed Individuals | CriteriaFor expats |
| ID Proof | PAN Card Aadhaar Card Driving License Voter’s ID Passport Photographs Job card issued by NREGA and duly signed by an authorized State Government official National population register Aadhaar | PAN CardTrade License with photographDriving LicenseVoter’s IDPassportPhotographsJob card issued by NREGA and duly signed by an authorised State Government officialNational population registerAadhaar | Valid VISAValid passport |
| Address Proof | Driving LicenseVoter’s IDAadhaar CardPassportUtility bills from the past 3 monthsRation cardRent agreement or lease deed or property registration documentBank account statement for the past 3 monthsLatest income tax returnsJob card issued by NREGA and duly signed by an authorised State Government officialNational population registerAadhaar | Driving LicenseVoter’s IDAadhaar CardPassportUtility bills from the past 3 monthsRation cardRent agreement or lease deed or property registration documentBank account statement for the past 3 monthsLatest income tax returnsJob card issued by NREGA and duly signed by an authorised State Government officialNational population registerAadhaar | Valid PassportValid VISADocuments issued by Government departments of foreign jurisdictionsLetter issued by Foreign Embassy or Mission in India |
| Age Proof | Birth CertificatePassportSchool or College Leaving CertificatePAN CardVoter’s IDCompany IDJob card issued by NREGA and duly signed by an authorised State Government officialNational population registerAadhaar | Birth CertificatePassportSchool or College Leaving CertificatePAN CardVoter’s IDJob card issued by NREGA and duly signed by an authorised State Government officialNational population registerAadhaar | |
| Employment/Business Proof | Letter from employerForm 16/pay slipsHR check by designated source from CPA | Rent receipts or lease deedUtility billsBank statement for the past 3 yearsOwnership documentTax returns from the same city | |
| Income Proof | Latest salary slipsBank statement for the past 3 monthsLatest Form 16 | Profit and Loss accountIncome tax returns for the past 2 yearsBalance sheetBank statement for the past 3 monthsAudit report for 1 year |
Citibank Personal Loan Penalties and Charges
| Late Payment Charges | Nil |
| Preclosure Charges | Up to 4% of the overall outstanding amount |
| Stamp Duty | Depending on prevalent state laws |
FAQ on Citibank Personal Loan
Citibank offers personal loans for a variety of reasons such as home renovation, meeting wedding expenses, debt consolidation, travel, etc. However, the regulations set forth by the Reserve Bank of India state that you cannot use the funds for any speculative, unlawful, or antisocial purposes.
Citibank usually takes a few hours to process your loan application and decide whether it is approved or rejected. However, there could be situations where the bank may require more information before the application is processed and that may take a couple of working days.
In case you apply for a Citibank personal loan in March 2023, the first EMI will have to be paid on 1st May, 2023. The commencement of EMI payments starts during the second succeeding month from the month in which the loan was taken.
Citibank offers personal loans to salaried employees, business owners, and self-employed professionals. Customers of Citibank with a Branch, Suvidha, or a Mortgage relationship also qualify for a Citibank personal loan.
Customers have two options when it comes to pre-paying their Citibank personal loans – Partial pre-payment and Full pre-payment. When you go in for a full pre-payment, the entire outstanding amount will have to be repaid in one shot. Partial pre-payment, on the other hand, will mean that you will be partially repaying some of the outstanding amount. Call the bank’s 24×7 helpline in order to make partial or full pre-payment.
The due date to pay your EMIs towards your Citibank personal loan is the 7th day of each month. However, Citibank does not levy any late payment charges.
In order for you to be eligible for partial pre-payment, you will have to have paid your EMIs for a minimum of 12 months, and your pre-payment amount must be equivalent to at least two EMIs and a maximum of five EMIs.
To know the status of your Citibank personal personal loan application, you can go directly to the bank branch and meet the officer-in-charge. Apart from that, you can call on 1860 210 2484 to learn about the status.
You can contact the customer care executives of Citibank by calling on 1860 210 2484. In case, you are calling from outside India, you can dial 022 – 4955 2484. In addition to this, you can also write to the head of customer care for any unresolved query or concern.
A GST rate of 18% will be applicable on banking services and products from 01 July, 2017.