Citibank Personal Loan

Citibank Personal Loan Highlights
Interest Rates	10.75% – 16.49% p.a.
Tenure	1 – 5  years
Loan Amount	Rs. 50,000 to Rs. 30 Lakhs
Processing Charges	Up to 2% of loan amount

 

Citibank Personal Loan Interest Rates

The interest rate (fixed) for Citibank Personal Loan varies from 10.75% to 16.49% p.a. based on the applicant’s quantum of loan, income, credit score and loan tenure.

For salaried applicants working with categorized corporates (tenure up to 4 years)

Income	Loan Amount	Interest Rate
Net take home lower than Rs. 60,000	Less than Rs. 5 Lakhs	12.99% – 13.99%
	Rs. 5 Lakhs and above but less than Rs. 10 Lakhs	11.99% – 12.99%
	Rs. 10 Lakhs and above	10.99% – 11.99%
Net take home Rs. 60,000 and above but less than Rs. 1 Lakh	Less than Rs. 5 Lakhs	12.25% – 13.25%
	Rs. 5 Lakhs and above but less than Rs. 10 Lakhs	11.50% – 12.50%
	Rs. 10 Lakhs and above	10.50% – 11.50%
Net take home above Rs. 1 Lakh	Less than Rs. 10 Lakhs	10.50% – 11.50%
	Rs. 10 Lakhs and above	10.50% – 11.50%

For salaried applicants working with categorized corporates (tenure above 4 years)

Income	Loan Amount	Interest Rate
Net take home lower than Rs. 60,000	Less than Rs. 5 Lakhs	13.24% – 14.24%
	Rs. 5 Lakhs and above but less than Rs. 10 Lakhs	12.24% – 13.24%
	Rs. 10 Lakhs and above	11.24% – 12.24%
Net take home Rs. 60,000 and above but less than Rs. 1 Lakh	Less than Rs. 5 Lakhs	12.50% – 13.50%
	Rs. 5 Lakhs and above but less than Rs. 10 Lakhs	11.75% – 12.75%
	Rs. 10 Lakhs and above	10.75% – 11.75%
Net take home above Rs. 1 Lakh	Less than Rs. 10 Lakhs	10.75% – 11.75%
	Rs. 10 Lakhs and above	10.75% – 11.75%

Compare Personal Loan Interest Rates from Top Banks and NBFCs

Banks/NBFCs	Interest Rates(p.a.)
HDFC Bank	11.00% onwards	Apply Now
SBI	10.10%-14.60%
ICICI Bank	10.75% onwards	Apply Now
Axis Bank	10.25% onwards	Apply Now
Kotak Mahindra Bank	10.99% onwards	Apply Now
IndusInd Bank	10.49% onwards	Apply Now
IDFC First Bank	10.49% - 25.00%	Apply Now
Bajaj Finserv	13.00% onwards	Apply Now
Tata Capital	10.99% onwards	Apply Now

Citibank Personal Loan Processing Fees and Charges

Particulars	Rates
Processing fees	Up to 2% of loan amount
Booking fees	Up to 3% of the sanctioned loan amount deductible at the time of disbursal
Late payment charges	Nil
Loan pre-closure charges	Up to 4% on the total principal outstanding plus interest for the current month
Stamp duty	Applicable on the loan agreement (the amount is based on the prevalent state laws)

GST and other govt. taxes & levies are applicable on all fees and charges mentioned above

Loan Amount for Citibank Personal Loan

The loan amount under Citibank Personal Loan within the range of Rs. 50,000 to Rs. 30 Lakhs.

Conditions for Full and Partial prepayment for Citibank Personal Loan

For full prepayment of personal loans:

• Borrowers can close their loan after 12 months if the tenure had commenced on or after October 1, 2015
• Borrowers can close their loan after 6 months if the tenure had commenced prior to October 1, 2015

For partial prepayment of personal loans are:

• Borrowers can close their loan after 12 months
• They should pay the EMIs for at least 12 consecutive months since the loan booking date
• The prepayment amount is equal to minimum of 2 and maximum of 5 EMIs

Eligibility Criteria for Citibank Personal Loan

The following parties are eligible for a Citibank Personal Loan:

• Salaried individuals
• Self-employed professionals
• Business owners
• Existing Citibank customers with a home loan, Suvidha salary account or other branch banking relationship

No income or address proof is required for the loan eligibility process

Documents Required for Citibank Personal Loan

For Citibank Suvidha (salary) account holders, the documentation process for availing personal loans is minimal. For other applicants, the required documents for personal loan are as follows:

• Proof of identity (for salaried and self-employed)
  • Photograph (mandatory)
  • Passport
  • Voter ID Card
  • Driving License
  • Job Card issued by NREGA and signed by an officer of state government
  • Proof of possession of an Aadhaar number (Aadhaar/E-Aadhaar)
  • National Population Register (with details of name and address)
• Additional proof of identity documents (for expats)
  • Valid VISA
  • Valid Passport
• Proof of residence and age (for salaried and self-employed)
  • Passport
  • Voter ID Card
  • Driving License
  • Job Card issued by NREGA and signed by an officer of state government
  • Proof of possession of an Aadhaar number (Aadhaar/E-Aadhaar)
  • National Population Register (with details of name and address)

• Additional proof of residence documents (for expats)
  • Valid VISA
  • Valid Passport
  • Letter issued by a foreign mission/embassy in India
  • Document issued by govt. departments of foreign jurisdiction
• Proof of length of employment (for salaried)
  • Letter from employer
  • Pay Slips/Form 16 from current and previous employer(s)
  • HR check by a Certified Public Accountant (CPA)
• Proof of continuity of business (for self-employed)
  • Rent receipts or lease deed
  • Utility bills
  • Ownership documents
  • Bank statement for past 3 years
  • Tax returns (from the same city)
• Proof of income and occupation (for salaried)
  • Last 2 pay slips (not older than 3 months)
  • Bank statement of last 3 months
• Proof of income and occupation (for self-employed)
  • IT returns of 1 year
  • Audited Profit & Loss Statement of 1 year
  • Bank statement of last 3 months
  • Computation of income schedule

Citibank Personal Loan EMI Calculator

Frequently Asked Questions (FAQs)

Q1. What is the turn-around-time for Citibank personal loan disbursal?

Loan amount is generally credited to your Citibank account within 48 hours of a personal loan application being approved. In case your personal loan is to be disbursed to the savings account of a different bank, it may take a bit longer.

Q2. Can I change the loan tenure or EMI amount once my loan application is approved?

No, you cannot change Citibank personal loan tenure or EMI amount once the loan has been sanctioned. You can however part pre-pay or foreclose the loan as per applicable terms and conditions.

Q3. What is the minimum and maximum limit for Citibank personal loan?

Currently the minimum personal loan amount offered is Rs. 10,000 while the maximum limit for a Citibank personal loan is Rs. 30 lakh.

Q4. What is Citibank instant personal loan? Citibank instant personal loan is a pre-approved loan offer available to select individuals where funds are generally credited within 30 minutes of application. It does not require any documentation and the entire procedure of loan approval and disbursal can be completed over phone or through the online banking portal.

Read more about How to Get Instant Personal Loan from Citibank?

Q5. How to use an EMI calculator?

Paisabazaar EMI calculator is an easy-to-use tool, where you can provide the desired loan amount, interest rate and tenure to get the EMI amount.

Q6. How is Citibank personal loan interest rate calculated?

Citibank personal loan interest is calculated using the following formula: Interest at the time of loan disbursal = (Loan Outstanding x ROI% X number of days remaining in a month) / [365 + (ROI X Number of days remaining in the month)]Interest for every subsequent month = (Loan Outstanding x ROI%) x (Number of days in a month/365 days)Where:ROI – Rate of Interest“365” is replaced by “366” in case of a leap year.

Q7. How does credit score impact my loan application?

Credit score is a 3-digit number that generally ranges from 300-900 and serves as a measure of your repayment ability as well as creditworthiness. It is one of the first things that a lender checks when you apply for a loan. Greater you credit score i.e. closer to 900, better are the chances of loan approval. You can check your credit score for free with Paisabazaar.com.

Q8. How often will I get the Citibank personal loan account statement?

Citibank personal loan account statement is issued annually on the 31^st of March and sent via post to your address. Thus, ensure that you have your most recent address updated with the bank.

Q9. Can I get a copy of my Citibank personal loan account statement before end of the year?

Yes, you can request a statement of your loan account by contacting CitiPhone helpline or by logging on to your Citibank online banking platform using your Citibank Online IPIN.

Q10. Can I get a top-up loan on my existing Citibank personal loan?

Citibank personal loan top up offers are available only to select individuals who already have a partially paid off personal loan from Citi. You have to log into your online banking account or call up the Citibank Helpline in order to check if you qualify for a Citibank top-up loan. The interest rate, quantum and tenure in such cases differ from one applicant to another.

Please Note: Citibank is not a Paisabazaar partner. Offers would be from partner Banks/NBFCs only.