Citibank is one of the largest private banks in India which offers various products to its customers. One of the products that you can avail is a personal loan where the interest rate offered ranges between 9.99% p.a. and 16.49% p.a. However, there are certain eligibility criteria that you will need to fulfill based on which the bank will decide whether they can sanction your loan or not.
Factors like your age, work experience, occupation, etc. also determine the loan amount that you can avail of, and the interest rate that the bank will charge on your loan amount.
|Citibank Personal Loan Eligibility for Salaried and Self-employed Applicants|
|Age (Min-Max)||Above age of 18 years||Above age of 18 years|
|Income||Contact bank for more information||Contact bank for more information|
|Guarantor||Not required||Not required|
|CIBIL Score||750 and above||750 and above|
|Minimum Loan Amount||Rs.50,000||Rs.50,000|
|Maximum Loan Amount||Rs.30 lakh||Rs.30 lakh|
|Minimum Loan Tenure||1 year||1 year|
|Maximum Loan Tenure||5 years||5 years|
|Interest Rate||9.99% p.a. - 16.49% p.a||9.99% p.a. - 16.49% p.a|
|Processing Fee||Up to 3%||Up to 3%|
|Pre-closure Charge||Up to 4%||Up to 4%|
Citibank personal loan is one of the best loans offered by the bank. Citibank which is a consumer division of the multinational Citigroup offers quick and easy personal loans. The personal come with speedy approval and minimal documentation. It is an unsecured loan with a very high loan amount that goes up to Rs.30 lakh. The loan amount can be utilised for any personal expense and there is no restriction on what it can be used for. The bank offers an attractive rate of interest on the personal loan along with various other benefits.
There are several factors that affect the Citibank personal loan eligibility. Listed below are some of the important factors that affect the eligibility for Citibank personal loan.
Your CIBIL score plays a very important role when it comes to you availing loans and credit cards. Your CIBIL score is the first thing the lender checks when you submit the application form for the personal loan. If you have a good CIBIL score of above 750, the lender will move on to verifying the rest of your details before granting you the loan. But if you have a really low credit score then the lender might not even consider your application. CIBIL score plays a deciding factor when it comes to granting personal loans.
There are several ways through which one can increase their personal loan eligibility. Listed below are a few of the steps that one can follow.
If the bank is satisfied with your application, the personal loan will be granted within 48 hours.
Yes. Business owners are also eligible for Citibank personal loan along with salaried and self-employed individuals.
The minimum loan amount offered is Rs.50,000
Yes, the bank has special offers for existing Citibank customers who apply for the personal loan. An existing customer also stands the chance of getting the loan approved quickly with minimal documentation.
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