Effective 1 March 2023, CitiBank has merged with Axis Bank
Citibank offers personal loans between Rs.50,000 and Rs.30 lakh at interest rates starting from just 9.99% p.a. The maximum repayment tenure of the loan can extend up to 60 months, and the processing fee charged can be up to 3% of the loan amount.
| 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% |
| 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% |
| Interest Rate | Processing Fee |
| 9.99% – 14.99% | Up to 2.00% |
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
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. |
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 |
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| Address Proof |
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| Age Proof |
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| Employment/Business Proof |
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| Income Proof |
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| Late Payment Charges | Nil |
| Preclosure Charges | Up to 4% of the overall outstanding amount |
| Stamp Duty | Depending on prevalent state laws |
1. What are the reasons for which I can take a 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.
2. How long does it take for my Citibank personal loan application to be approved?
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.
3. When will the EMI payments for my Citibank personal loan start?
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.
4. Who can take a Citibank personal loan?
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.
5. How do I pre-pay my 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.
6. Does the bank levy any late payment charges?
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.
7. Are there any eligibility criteria for partial pre-payment?
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.
8. How to check CitiBank personal loan status?
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.
9. How to contact CitiBank personal loan customer care?
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.
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