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.
|Age (Min-Max)||23 to 60 years||23 to 65 years|
|Income||Rs.2,40,000 p.a.||Rs.1,40,000 p.a.|
|Guarantor||Not required||Not required|
|CIBIL Score||750 and above||750 and above|
|Minimum Loan Amount||Rs.1 lakh||Rs.1 lakh|
|Maximum Loan Amount||Rs.30 lakhs||Rs.30 lakhs|
|Minimum Loan Tenure||1 year||1 year|
|Maximum Loan Tenure||5 years||5 years|
|Interest Rate||11.49% to 15.99%||11.49% to 15.99%|
|Processing Fee||Up to 2.5%||Up to 2.5%|
|Prepayment Charge||After 12 EMIs, 3% of principal outstanding + Service Tax||After 12 EMIs, 3% of principal outstanding + Service Tax|
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.1 lakh.
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.