Citi Bank Personal Loan: Eligibility, Interest Rate & Apply Online

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  • Interest Rate from 10.50% onwards
  • Loans up to Rs. 30 lakh
  • Processing Fees up to 3%

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I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :27/01/2020

CC:
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Paisabazaar Marketing and Consulting Private Limited

CIBIL TERMS AND
CONDITIONS

To,
TransUnion CIBIL Limited
[Formerly known as Credit Information Bureau (India) Limited]
One Indiabulls building ,Unit No 1901 – 1905,
19th Floor, Tower 2A-2B, Jupiter Mill compound,
Senapati Bapat Marg, Lower Parel, Mumbai 400 013

Sub: Grant of Consent

Dear Sirs,

In connection with submission of the application for my credit information offered by CIBIL (“Consumer Credit Information”) through Paisabazaar (referred to as the “Company”) and delivery of the Consumer Credit Information to the Company, I hereby acknowledge and agree to the following:

A. The Company is my lawfully appointed agent and he / it has agreed to be my agent for the purposes, including, without limitation, to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, and the Company has granted its consent for being appointed for the aforesaid purpose.

B. I grant my unconditional consent to the Company to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, as the case may be, and the Company has granted its consent for being appointed for the aforesaid purpose. I hereby represent and acknowledge that: the Terms of Understanding in relation to the use of the Consumer Credit Information has been agreed between me and the Company.

C. I hereby expressly grant unconditional consent to, and direct, TUCL to deliver and / or transfer my Consumer Credit Information to the Company on my behalf.

D. I shall not hold TUCL responsible or liable for any loss, claim, liability, or damage of any kind resulting from, arising out of, or in any way related to: (a) delivery of my Consumer Credit Information to the Company ; (b) any use, modification or disclosure by the Company of the contents, in whole or in part, of my Consumer Credit Information , whether authorized or not; (c) any breach of confidentiality or privacy in relation to delivery of my Consumer Credit Information to the Company ; (d) for any use made by the Company which is contrary to the Agreement entered into between the Company and TUCL

E. I acknowledge and accept that: (a) TUCL has not made any promises or representations to me in order to induce me to provide my Consumer Credit Information or seek any consent or authorization in this regard; and (b) the implementation of the Agreement between TUCL and the Company is solely the responsibility of the Company.

F. I agree that I may be required to record my consent / provide instructions electronically and in all such cases I understand that by clicking on the "I Accept" button below, I am providing "written instructions" to Paisabazaar authorizing Paisabazaar to obtain my Consumer Credit Information from my personal credit profile from TransUnion CIBIL LIMITED, [formerly known as Credit Information Bureau (India) Limited]]. I further authorize Paisabazaar to obtain such information solely to confirm my identity and display my Consumer Credit Information to me. Further in all such cases “By checking this box and clicking on the ‘Authorize button, I agree to the terms and conditions, acknowledge receipt of TUCL privacy policy and agree to its terms, and confirm my authorization for Paisabazaar to obtain my Consumer Credit Information.

G. I understand that in order to deliver the product to me, I hereby authorize Paisabazaar, to obtain my Consumer Credit Information from TUCL.

H. By submitting this registration form, I understand that I am providing an express adhoc one-time written instructions for Paisabazaar to request and receive information about me from third parties, including but not limited to a copy of my consumer credit report and score from consumer reporting agencies, at any time for so long as I have an active Paisabazaar account. I further authorize Paisabazaar to retain a copy of my information for use in accordance with the terms of use of this service, Paisabazaar’s Terms of Use and Privacy Policy.

I. I UNDERSTAND THAT THE PRODUCT IS PROVIDED ON AN “AS-IS”, “AS AVAILABLE” BASIS AND TUCL EXPRESSLY DISCLAIMS ALL WARRANTIES, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.

J. I shall not sue or otherwise make or present any demand or claim, and I irrevocably, unconditionally and entirely release, waive and forever discharge TUCL , its officers, directors, employees, agents, licensees, affiliates, successors and assigns, jointly and individually (hereinafter “Releasee”), from any and all manner of liabilities, claims, demands, losses, claims, suits, costs and expenses (including court costs and reasonable attorney fees) (“Losses”), whatsoever, in law or equity, whether known or unknown, which I ever had, now have, or in the future may have against the Releasee with respect to the submission of my Consumer Credit Information and / or my decision to provide TUCL L with the authority to deliver my Consumer Credit Information to the Company . I agree to defend, indemnify, and hold harmless the Releasee from and against any and all Losses resulting from claims made against TUCL L by third parties arising from and in connection with this letter.

K. I agree that the terms of this confirmation letter shall be governed by the laws of India and shall be subject to the exclusive jurisdiction of the courts located in Mumbai in regard to any dispute arising hereof. TUCL is entitled to assign its rights hereunder to any third person without taking my prior written consent.

Yours faithfully,
Name :

I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :27/01/2020

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

EQUIFAX TERMS AND
CONDITIONS

I Mr./Ms. -------------------- ---------------------residing at ------------------------ ---------------------------------------- do hereby authorise Paisabazaar Team ,to do all acts on my behalf as may be necessary including to execute/sign application(s), make payment of applicable fees* and generally to all other acts as may be necessary to receive, on my behalf and at my request, my Credit Information Report (CIR) from Equifax Credit Information Services Private Limited("Equifax") at the following address/email id:

I hereby confirm that all the powers hereby conferred may be exercised by officer(s) or manager(s) / agent(s) / employees of the Paisabazaar who is duly authorized by the Paisabazaar.

I hereby confirm, agree, undertake and accept that I shall at all times be solely responsible for all the above actions and omissions of the Paisabazaar shall be binding on me as though such actions had been carried out by me directly. I further confirm that my CIR shall be used only for the purpose as mentioned in the attached standard terms and conditions and I shall be solely liable for, and indemnify and hold harmless Equifax for and against, any and all third party claims or damages or proceedings of any kind, arising from or in connection with (a) any misrepresentations, incorrect information or omission of any critical information in my application, or (b) furnishing my CIR based on this authorization letter, and shall not at any time hold Equifax or its affiliates and their respective officers, directors, employees or representatives liable in this respect.

I hereby also confirm that I have only appointed Paisabazaar to be my authorized agent/representative for collection of my CIR.

I undertake to keep Equifax intimated and informed at all times, of any renewals or termination of the authorization to Paisabazaar or any amendments, modifications or changes in the terms governing the obligations or my relationship with Paisabazaar.

I shall at all times co-operate with Equifax and execute and deliver to Equifax such instruments and documents and take such other actions as may be required by Equifax from time to time in connection with this authority letter.

By signing on this authorization letter, I hereby acknowledge and accept the Standard Terms and Conditions mentioned above.

Date : 27/01/2020

I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :27/01/2020

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

EXPERIAN TERMS AND
CONDITIONS

YOU HEREBY APPOINT PAISABAZAAR AS YOUR AUTHORISED REPRESENTATIVE TO RECEIVE YOUR CREDIT INFORMATION FROM EXPERIAN.

YOU HEREBY IRREVOCABLY AND UNCONDITIONALLY CONSENT TO SUCH CREDIT INFORMATION BEING PROVIDED BY EXPERIAN TO YOU AND PAISABAZAAR AND YOU HEREBY AGREE, ACKNOWLEDGE AND ACCEPT THE TERMS AND CONDITIONS SET FORTH HEREIN. YOU HEREBY ALSO AGREE AND ACKNOWLEDGE THAT FOR PAISABAZAAR TO SERVICE YOU AS A CUSTOMER, THE CREDIT INFORMATION SHALL BE SHARED BY EXPERIAN WITH YOU AND PAISABAZAAR ON A MONTHLY BASIS. YOU FURTHER ALSO AGREE AND CONSENT TO RECEIVE SUCH CREDIT INFORMATION DIRECTLY FROM EXPERIAN AND ALSO THROUGH YOUR PAISABAZAAR ACCOUNT AS PER YOUR INDEPENDENT REGISTRATION WITH PAISABAZAAR.

Please read the Terms and Conditions of this document carefully before accepting. By clicking on the "I ACCEPT" button below, you are expressly agreeing to access the Experian Credit Information Report and Credit Score (as defined in the Important Information Section below) (together referred as "Credit Information") and share a copy of the Credit Information with Paisabazaar in the "as is" format. Please click on the link below to read and understand the Important Information section below.

** This document is an electronic record in terms of the Information Technology Act, 2000 and Rules made there under, and the amended provisions pertaining to electronic records.

Information Collection, Use, Confidentiality, No-Disclosure and Data Purging

PAISABAZAAR/ We/ Us can only access your Credit Information as your authorized representative and we shall use the Credit Information for limited end use purpose consisting of and in relation to the services proposed to be availed by you from us on the Website. We shall not aggregate, retain, store, copy, reproduce, republish, upload, post, transmit, sell or rent the Credit Information to any other person and the same cannot be copied or reproduced other than as agreed herein.

We shall protect and keep confidential the Credit information both online and offline and use best in class security measures in line with applicable laws. The Credit Information shared by You, or received on your behalf shall be destroyed, purged, erased promptly upon the earlier of: (i) your written request to terminate this relationship with Paisabazaar (ii) the completion of provision of the Services by us to you.

Governing Law and Jurisdiction The relationship between you and the Parties shall be governed by laws of India and all claims or disputes arising there from shall be subject to the exclusive jurisdiction of the courts of [Mumbai].

Definitions: Capitalised terms used herein but not defined above shall have the following meanings:
"Credit Information Report" means the credit information / scores / aggregates / variables or reports which shall be generated by Experian;
"Credit Score" means the score which shall be mentioned on the Credit Information Report which shall be computed by Experian.
"CICRA" shall mean the Credit Information Companies (Regulation) Act, 2005 read with the Credit Information Companies Rules, 2006 and the Credit Information Companies Regulations, 2006, and shall include any other rules and regulations prescribed thereunder.
PLEASE READ THE ABOVE MENTIONED IMPORTANT INFORMATION AND CLICK ON "ACCEPT" FOLLOWED BY THE LINK BELOW TO COMPLETE THE AUTHORISATION PROCESS FOR SHARING OF YOUR CREDIT INFORMATION BY EXPERIAN WITH YOU AND PAISABAZAAR, IN ITS CAPACITY AS YOUR AUTHORISED REPRESENTATIVE.
BY CLICKING "ACCEPT" YOU AGREE AND ACCEPT THE DISCLAIMERS AND TERMS AND CONDITIONS SET OUT HEREIN. THE TERMS AND CONDITIONS MENTIONED HEREIN MAY CHANGE IN ORDER TO COMPLY WITH GOVERNING LAWS OF THE COUNTRY AND THE CONSUMER SHALL BE BOUND TO ANY CHANGES TO THIS AGREEMENT

Name :
Date : 27/01/2020

I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :27/01/2020

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

CRIF HIGH MARK TERMS
AND CONDITIONS

This End User Agreement (the "Agreement") is made between you (the "User" or "You") and Paisabazaar Marketing and Consulting Pvt Ltd ("PaisaBazaar"), a private limited company having its registered office at Plot No 119, Sector-44, Gurgaon-122001, Haryana ("PAISABAZAAR", "Us" or "We", which term shall include its successors and permitted assigns). The User and PAISABAZAAR shall be collectively referred to as the "Parties" and individually as a "Party".

YOU HEREBY APPOINT PAISABAZAAR AS YOUR AUTHORISED REPRESENTATIVE TO RECEIVE YOUR CREDIT INFORMATION FROM CRIF HIGH MARK. BY EXECUTING THIS AGREEMENT / CONSENT FORM, YOU ARE EXPRESSLY AGREEING TO ACCESS THE CRIF HIGH MARK CREDIT INFORMATION REPORT AND CREDIT SCORE, AGGREGATE SCORES, INFERENCES, REFERENCES AND DETAILS (AS DEFINED BELOW)(TOGETHER REFERRED AS "CREDIT INFORMATION"). YOU HEREBY ALSO IRREVOCABLY AND UNCONDITIONALLY CONSENT TO SUCH CREDIT INFORMATION BEING PROVIDED BY CRIF HIGH MARK TO YOU AND PAISABAZAAR BY USING CRIF HIGH MARK TOOLS, ALGORITHMS AND DEVICES AND YOU HEREBY AGREE, ACKNOWLEDGE AND ACCEPT THE TERMS AND CONDITIONS SET FORTH HEREIN. YOU ALSO ACKNOWLEDGE THAT YOU SHALL NOT RAISE ANY CLAIM OR HOLD LIABLE CRIF HIGH MARK CREDIT INFORMATION SERVICES PRIVATE LIMITED IN RELATION TO YOUR CREDIT INFORMATION REPORT AND CREDIT SCORE PROVIDED OR TO BE PROVIDED BY CRIF HIGH MARK TO PAISABAZAAR.

Terms and Conditions: Information Collection, Use, Confidentiality, No-Disclosure and Data Purging PAISABAZAAR shall access your Credit Information as your authorized representative and PAISABAZAAR shall use the Credit Information for limited end use purpose consisting of and in relation to the services proposed to be availed by you from PAISABAZAAR. PAISABAZAAR shall not aggregate, retain, store, copy, reproduce, republish, upload, post, transmit, sell or rent the Credit Information to any other person and the same cannot be copied or reproduced other than as agreed herein.

The Parties agree to protect and keep confidential the Credit Information both online and offline. The Credit Information shared by you, or received on by us on your behalf shall be destroyed, purged, erased promptly upon request from the consumer or the consumer withdrawing the consent to retain such credit information / reports by deleting/deactivating the consumers account with Paisabazaar.

Governing Law and Jurisdiction Definitions: Capitalised terms used herein but not defined above shall have the following meanings:
" Business Day" means a day (other than a public holiday) on which banks are open for general business in Gurgaon and Mumbai.
" Credit Information Report" means the credit information / scores/ aggregates / variables / inferences or reports which shall be generated by CRIF High Mark;
" Credit Score" means the score which shall be mentioned on the Credit Information Report which shall be computed by CRIF High Mark.
" CICRA" shall mean the Credit Information Companies (Regulation) Act, 2005 read with the Credit Information Companies Rules, 2006 and the Credit Information Companies Regulations, 2006, and shall include any other rules and regulations prescribed thereunder.
IN CASE THERE IS ANY DISCREPANCY OR INABILITY IN COMPLETION OF ONLINE AUTHENTICATION, PLEASE SUBMIT YOUR SELF ATTESTED KYC DOCUMENTATION IN SCANNED COPIES FOR SHARING OF YOUR CREDIT INFORMATION BY CRIF HIGH MARK WITH YOU AND PAISABAZAAR (YOUR AUTHORISED REPRESENTATIVE).
ONLINE SUBMISSION - DOES NOT REQUIRE SIGNATURE AND EXECUTION"

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Date :27/01/2020

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हिंदी में पढ़े
Updated: 20-01-2020 06:46:24 AM

Citi Bank personal loan offers an easy way to access funds quickly. You can use the loan for a variety of emergency needs or to fulfill a planned expenditure without affecting your savings or monthly budget. Citibank personal loan are preferred by many due to low interest rate of 10.50% onwards, minimal documentation involved as well as the flexible tenure.

 

Features of Citi Bank Personal Loan

  • Loan Amount: Citibank offers personal loans up to Rs. 30 lakh.
  • Quick Disbursal: Loan amount is credited to your account within 48 hours of successful document verification as per the bank’s requirements. Please note that the timeline includes only working days.
  • Loan Eligibility: You can know your eligibility for Citi Bank personal loan in just 4 hours.
  • Interest Rate: Citibank offers personal loan at a fixed rate for predictable monthly payments.
  • Full and Part Prepayment: Full and Partial prepayment of Citi Bank personal loan is allowed after 12 EMIs. Please note that generally the bank allows part prepayment of up to maximum 5 EMIs and minimum 2 EMIs each time.
  • Debt Consolidation Loan option: You can avail a debt consolidation loan of up to Rs. 15 lakh. A maximum of 2 credit cards and 2 personal loans can be consolidated via this loan.

Citi Bank Personal Loan Interest Rates

Citi Bank personal loan interest varies between 10.50% and 18.99% per annum. The interest rate applicable to Citi Bank PL depends on key factors such as the applicant’s income, loan amount, tenure, credit score, etc. The following are the different types of personal loans offered by Citi Bank:

Type of Personal LoanInterest Rate (p.a.)
Citi Bank Personal Loan for SalariedStarts from 10.50%
Citi Bank Personal Loan for Self Employed (Professional)Starts from 16.00%
Citi Bank Personal Loan for Self Employed (Non- Professional)Starts from 17.49%

For Salaried Individuals: Depending on the net take-home monthly income and the loan tenure, the interest rate on Citi Bank personal loan for salaried individuals varies as follows:

Net Take Home Income Interest Rate for tenure up to 4 years (%)Interest Rate for tenure exceeding 4 years (%)
Less than Rs. 60,00010.99 onwards11.24 onwards
Rs. 60,000 to 1 lakh10.50 onwards10.75 onwards
More than Rs. 1 lakh10.50 onwards10.75 onwards

*ROI: Rate of Interest

Citi Bank Personal Loan interest rates for Self Employed Applicants: Depending on the gross annual take-home income, the personal loan interest rate for non-professionals and professionals varies as follows:

Type of Self Employed ApplicantPL Interest Rate for Gross Take Home Salary up to Rs. 10 lakh (%)PL Interest Rate for Gross Take Home Salary up to Rs. 10 lakh (%)
Non Professionals17.99% – 18.99%17.49% – 18.49%

 

Professionals17.00% – 17.99%16.00% – 16.99%

 

Eligibility

Salaried employees, self-employed professionals and expats can apply for Citibank personal loan provided they meet the eligibility criteria.

Eligibility CriterionValue
Age21- 60 years
Monthly IncomeRs. 25,000

Other eligibility criteria for Citi Bank personal loan include the length of employment/ business and credit score, which tends to differ from one applicant to another.

Documents Required for Citi Bank Personal Loan

For Salaried Individuals: Following is the list of documents required by salaried individuals applying for Citibank Personal Loan.

CriteriaDocuments Required*
Proof of IdentityPhotograph (mandatory), PAN, Aadhaar Card, Driver’s Licence, Passport, Voter’s ID card, etc

 

Proof of ResidenceDriving License, Passport, Voter’s ID Card, Letter from Employer, etc
Proof of AgeBirth Certificate, School Leaving Certificate, Passport, etc
Length of EmploymentLetter from Employer, Old Pay Slip, Form 16, etc
Proof of IncomeLatest Salary Slip (not older than 3 months), 3 months bank statement, Latest Form 16

*Any one of the listed documents for each criterion.

For Self-employed Individuals: Following is the list of documents required by self-employed individuals to apply for Citibank Personal Loan.

CriteriaDocuments Required*
Proof of IdentityPhotograph (mandatory), PAN, Driver Licence, Passport, Voter’s ID card, etc.

 

Proof of ResidenceUtility bill not more than 3 months old with name and address, Passport, Voter’s ID Card, Letter from Employer, etc.
Proof of AgeBirth Certificate, School Leaving Certificate, DOB on Tax Return, etc.
Continuity of BusinessLease Deed, Ownership Document, Utility Bills, 3 year old bank statement, etc
Proof of IncomeIT Returns for last 2 years and supplementary documents, P&L  Account, Audit Report, etc

*Any one of the listed documents for each criterion.

For Expats: Following is the list of documents required by Expats to apply for Citibank Personal Loan

CriteriaDocuments Required*
Proof of IdentityPhotograph (mandatory), PAN, Valid VISA, etc

 

Proof of ResidenceLetter from Employer/ Certificate from Embassy of the Country of Origin, Rent Agreement, Valid Aadhaar Card, etc.

 

Proof of AgeBirth Certificate, Passport, School Leaving Certificate, DOB on Tax Return, etc
Continuity of BusinessLetter from Employer, Old Pay Slips, HR Check by Designated CPA Resource, etc
Proof of IncomeLatest Salary Slip (not more than 3 months old), Latest Form 16, etc

*Any one of the listed documents for each criterion.

How to Apply for Citi Bank PL with Paisabazaar?How to Apply for Citi Bank PL with Paisabazaar?

Compare and apply for the best personal loan offer in just 4 simple steps using the Paisabazaar platform.

Step 1: Fill out the personal loan application form at Paisabazaar.com given at the top of this page.

Step 2: Provide your company details and work experience to see the offers listed as per the chances of approval.

Step 3: Select the best-suited lender or call Paisabazaar for assistance.

Step 4: Get instant conditional e-approval from the lender. Subsequently, our customer team will guide you through the loan processing and disbursal procedure.

Personal Loan Verification Process

The general verification process for approval of a personal loan involves the following steps:

  • Personal Loan Application: You submit the duly filled application form to the lender.
  • Document Collection: Lender’s representative calls and collects your documents.
  • Document Verification: The bank or NBFC verifies your documents.
  • Loan Approval: Upon successful verification, the loan is approved.
  • Loan Disbursal: The loan amount is disbursed after you sign the loan agreement.

Processing Time for Citi Bank Personal Loan: Citibank personal loan is generally approved in a matter of hours. However, in certain conditions the bank may take longer depending on the applicant’s profile.

Check Citi Bank Personal Loan Application Status

You will receive a unique personal loan application number/ form number when you apply for Citi Bank personal loan. Contact the bank’s phone helpline and provide this number to know the status of your personal loan application.

Citi Bank Phone Helpline*
For India1860 210 2484 (Subject to local call charges)
For Outside India+91 22 4955 2484 (Subject to applicable charges)

*The phone helpline for loan-related queries is operational between 9 AM to 7 PM (Monday to Saturday) except on national holidays.

Fees and Other Charges

Booking Fee

(deducted at the time of disbursal)

Up to 3% of the approved loan amount + Taxes
Loan Pre-closure ChargesUp to 4% on total principal outstanding at the time of full and final settlement of account + Interest for the ongoing month + Taxes
Stamp Duty

(applicable on the loan agreement)

As per the prevalent state laws
Processing FeeUp to 3%

How to Login on Citi Bank Portal?

Step 1: Visit the Citibank online portal.

Step 2: Enter your User ID/ IPIN/ QPIN and password to login.

Enter your User ID/ IPIN/ QPIN and password to login.NOTE: First time users need to generate Citibank user ID to visit the online portal.

Citi Bank Personal Loan Statement

You can check the Citi Bank personal loan account statement through the Citi Bank online portal.

Step 1: Login to the Citibank online portal.

Step 2: Click on the “Personal Loan” tab at the top of the page.

Click on the “Personal Loan” tab at the top of the page.

Step 3: Click on the “+” icon to view the personal loan account.

Step 4: Click on the personal loan account link.

Step 5: Click “View Loan Account Statement” at the bottom of the page to view and download the statement.

Step 6: You can also view and download the statement for last 6 months by clicking on “View Statement Details”.

Citi Bank PL EMI Calculation

The following is an example of the EMI calculation for Citi Bank personal loan for various loan principal, interest rate and tenure:

Loan Amount (Rs.) and Interest Rate

Monthly EMI Payout (Rs.)

1-year loan tenure2-year loan tenure3-year loan tenure4-year loan tenure5-year loan tenure
2 lakh @ 13% p.a.17,8639,5086,7385,3654,550
10 lakh @ 14% p.a.89,78748,01234,17727,32623,268
4 lakh @ 15% p.a.36,10319,39413,86611,1329,515

Citi Bank Personal Loan TopUp

Citibank offers personal loan top up, that is, you can borrow additional funds over your existing personal loan once you have completed payment of 12 EMIs. However, the approval for the top up loan depends on the applicant’s profile and Citibank’s credit acceptance parameters. Moreover the loan amount, interest rate and tenure in case of a Citi Bank top-up loan varies from one applicant to another. You can contact Citi Bank customer care to know if you qualify for a personal loan top-up on your existing loan.

Comparison of Citi Bank PL vs Other Lenders

The following is a comparison of the key features of a personal loan from Citibank as compared to other lenders.

Comparison CriteriaCitibankAxis BankHDFC BankICICI BankYes Bank
Interest Rate10.50% onwards12-24%10.75-21.30%11.25-22.00%10.75% onwards
Tenure12 to 60 months12 to 60 months12 to 60 months12 to 60 months12 to 60 months
Loan amountUp to Rs. 30 lakhRs. 50,000 to Rs. 15 lakhUpto Rs. 40 lakhUpto Rs. 20 lakhRs. 1 lakh to Rs. 40 lakh
Processing FeeUpto 3% of the loan amountUpto 2% of the loan amount plus GSTUpto 2.50% of the loan amountUpto 2.25% of loan amount plus GSTUpto 2.5% of the loan amount + taxes

Citi Bank Customer Care

The customer care department at Citibank can be contacted including phone, email and online as follows:

  • Citi Bank Phone Helpline: For loan-related queries, Citi Bank phone helpline is operational between 9 AM to 7 PM (Monday-Saturday) except on national holidays. The following are the helpline numbers (standard calling charges will apply):
For India1860 210 2484

 

For Outside India+91 22 4955 2484

 

  • E-mail: You can send an e-mail to head.customercare@citi.com.
  • Virtual Assistant: You can get an instantaneous response to your query using the Citibank Virtual Assistant.
  • Login to Citibank Online: You may login to Citi Bank Online to get a personalized response to your query.

Benefits of Applying for Personal Loan at Paisabazaar

There are a number of benefits when you apply for a personal loan with Paisabazaar:

  • You need not visit individual banks or NBFC websites to check different personal loan offers you qualify for. Paisabazaar platform allows you to check offers from 30+ lenders at the same time to help you make an informed choice.
  • You can know the eligible loan amount through our platform.
  • com uses a proprietary algorithm called SmartMatch, which tells you the chances of approval for all the personal loan offers. Your loan offers are arranged according to the chances of approval.
  • Our platform helps you plan your monthly finances through its EMI calculator. You can calculate your monthly EMI payout before applying for the loan by just providing the desired loan amount, interest rate and tenure.
  • com helps you get an instant conditional e-approval from the chosen lender.
  • We are ISO 27001-2013 certified. Hence, all personal details provided as part of your loan application are kept private and safe.

Important Aspects

Following are some of the important points that should be kept in mind before applying for Citibank personal loan:

  • Eligibility Criteria: Check the bank’s eligibility criteria before applying for the personal loan.
  • Credit Score: Maintain a good credit score as it is indicative of your repayment ability. Higher your credit score (closer to 900), more are the chances of loan approval.
  • Avoid multiple loan applications: Do not apply for a personal loan with multiple lenders at the same time. This can portray you as credit hungry and adversely affect your credit score.
  • EMI to income ratio: Maintain a low EMI to income ratio, ideally less than 50% to help you

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 Citi Bank personal loan tenure or EMI amount once the loan has been sanctioned.

Q3. What is the maximum limit for Citi Bank personal loan?

Currently the maximum limit for a Citi Bank 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 Citibank instant personal loan.

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 formulae: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 31st 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 Citi Bank 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 Citi Bank Helpline in order to check if you qualify for a Citi Bank top-up loan. The interest rate, quantum and tenure in such cases differ from one applicant to another.

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Citi Bank Personal Loan: Eligibility, Interest Rate & Apply Online
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Jul 9 , 2019
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Approved very quickly

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