• Citibank Personal Loan Interest Rates

    Citibank offers personal loans interest rates that ranges between 9.99% p.a. - 16.49% p.a. The lender allows individuals to borrow up to Rs.30 lakh. Borrowers can repay the loan amount within a maximum of 60 months. In addition to the interest rate, the lender also charges a nominal booking fee or processing fee of 3% of the sanctioned loan amount.
    Particulars Details
    Interest Rate 9.99% p.a. - 16.49% p.a.
    Processing Fee Up to 3% of the borrowed loan amount
    Loan Tenure Up to 60 months
    Loan Amount Rs.50,000 – Rs.30 lakh
    Employment Status Salaried employees, self-employed applicants (non-professionals), and self-employed applicants (professionals)
    Credit Score Ideal score: Over 700
    Lowest EMI per Lakh Rs.2,124*
    Pre-closure Charges Up to 4% of the outstanding principal plus interest for the ongoing month

    *Note: For the EMI calculation, it is assumed that a loan amount of Rs.1 lakh has been borrowed for a term of 5 years at an interest of 9.99% p.a., with a processing fee of 3%.

    From renovating your home and going on a vacation abroad to buying gadgets and planning a wedding, personal loans offered by Citibank can help you fulfil your dreams. Citibank personal loans can be available within 48 hours if the customer submits the necessary documents. Customers can acquire a personal loan by simple documentation and hassle-free process with minimal documentation. You can choose a loan tenure from 12 months to 60 months. Customers do not have to provide any guarantors to avail of personal loans offered by Citibank.

    Citibank will approve the loan in four hours sans physical application for loan decisioning. Citibank offers a flexible repayment options ranging from 12 to 60 months. Citibank offers personal loan at a fixed rate of interest of 13.99% (EMIs will remain throughout the loan tenure).

    Factors Affecting Your Citibank Personal Loan Interest Rates

    • Loan tenure: The interest rate offered by Citibank depends upon the loan tenure chosen by customers. If the customer opts for a short loan tenure, the bank is most likely to charge a higher interest rate. That said, keep in mind that the overall interest payable will increase if you opt for a long tenure.
    • Relationship with Citibank: If you have borrowed loans from Citibank in the past and have repaid your dues as per the schedule specified by the lender, it is more likely that you will be charged a better rate of interest. Also, if you are a long-standing customer of Citibank, you can negotiate a lower interest rate, provided you fulfil the required eligibility criteria for availing of a personal loan.
    • Repayment capacity: The repayment capacity of a borrower is of seminal importance. Banks usually provide personal loans up to 10 times the monthly salary of a customer. Banks check the CIBIL score of an applicant to determine his repayment capacity. Citibank will offer attractive interest rates to loan applicants with a regular income and a robust credit history.
    • Employment details: The employment history and profile of a customer plays a pivotal role in determining the interest rates offered by Citibank bank. Salaried individuals working with high net worth companies may be offered lower interest rates as compared to those who are self-employed, who, typically, don’t have a steady income.

    Other Fees and Charges

    • Late payment charges: Nil
    • Stamp duty: As per state laws


    For a better understanding of how the interest charged will affect your repayments, let’s take a look at two illustrations.

    Illustration 1: Mr. Ankur is a junior employee at a software firm and earns a monthly salary of Rs.25,000. He is looking to take a loan of Rs.1 lakh from Citibank to pay for his healthcare needs. He will be repaying the borrowed sum to Citibank within a period of 1 year. Citibank charges him an interest rate of 16.49% p.a. His repayment details will be as follows:

    Loan Amount Rs.1 lakh
    Loan Tenure 1 year
    Interest Rate 16.49% p.a.
    Month Principal Paid (A) Interest Paid (B) Total Payment (A+B) Outstanding Loan Balance
    1 Rs.7,722 Rs.1,374 Rs.9,096 Rs.92,278
    2 Rs.7,828 Rs.1,268 Rs.9,096 Rs.84,450
    3 Rs.7,936 Rs.1,160 Rs.9,096 Rs.76,514
    4 Rs.8,045 Rs.1,051 Rs.9,096 Rs.68,469
    5 Rs.8,155 Rs.941 Rs.9,096 Rs.60,314
    6 Rs.8,267 Rs.829 Rs.9,096 Rs.52,046
    7 Rs.8,381 Rs.715 Rs.9,096 Rs.43,665
    8 Rs.8,496 Rs.600 Rs.9,096 Rs.35,169
    9 Rs.8,613 Rs.483 Rs.9,096 Rs.26,556
    10 Rs.8,731 Rs.365 Rs.9,096 Rs.17,824
    11 Rs.8,851 Rs.245 Rs.9,096 Rs.8,973
    12 Rs.8,973 Rs.123 Rs.9,096 Rs.0

    Mr. Ankur will, thus, have to pay a monthly EMI of Rs.9,096 over the course of the loan repayment term, which is 1 year. Since he is borrowing only Rs.1 lakh and repaying the borrowed sum within 1 year, he will only have to pay Rs.9,155 as the interest. He will have to pay a processing fee of Rs.3,000. His total repayment will amount to around Rs.1,09,155.

    Illustration 2: Mr. Mohan, an accountant, earns a salary of Rs.50,000 on a monthly basis. He wants to borrow a personal loan of around Rs.2 lakh from Citibank. He chooses a loan repayment term of 2 years. He is charged an interest rate of 9.99% p.a. and also has to pay a processing fee of 3%. Given below are his loan repayment details:

    Loan Amount Rs.2 lakh
    Loan Tenure 2 years
    Interest Rate 9.99% p.a.
    Month Principal Paid (A) Interest Paid (B) Total Payment (A+B) Outstanding Loan Balance
    Month Principal Paid (A) Interest Paid (B) Total Payment (A+B) Outstanding Loan Balance
    1 Rs.7,563 Rs.1,665 Rs.9,228 Rs.1,92,437
    2 Rs.7,626 Rs.1,602 Rs.9,228 Rs.1,84,811
    3 Rs.7,690 Rs.1,539 Rs.9,229 Rs.1,77,121
    4 Rs.7,754 Rs.1,475 Rs.9,229 Rs.1,69,368
    5 Rs.7,818 Rs.1,410 Rs.9,228 Rs.1,61,550
    6 Rs.7,883 Rs.1,345 Rs.9,228 Rs.1,53,667
    7 Rs.7,949 Rs.1,279 Rs.9,228 Rs.1,45,718
    8 Rs.8,015 Rs.1,213 Rs.9,228 Rs.1,37,703
    9 Rs.8,082 Rs.1,146 Rs.9,228 Rs.1,29,621
    10 Rs.8,149 Rs.1,079 Rs.9,228 Rs.1,21,472
    11 Rs.8,217 Rs.1,011 Rs.9,228 Rs.1,13,255
    12 Rs.8,285 Rs.943 Rs.9,228 Rs.1,04,970
    13 Rs.8,354 Rs.874 Rs.9,228 Rs.96,616
    14 Rs.8,424 Rs.804 Rs.9,228 Rs.88,192
    15 Rs.8,494 Rs.734 Rs.9,228 Rs.79,698
    16 Rs.8,565 Rs.663 Rs.9,228 Rs.71,134
    17 Rs.8,636 Rs.592 Rs.9,228 Rs.62,498
    18 Rs.8,708 Rs.520 Rs.9,228 Rs.53,790
    19 Rs.8,780 Rs.448 Rs.9,228 Rs.45,010
    20 Rs.8,853 Rs.375 Rs.9,228 Rs.36,157
    21 Rs.8,927 Rs.301 Rs.9,228 Rs.27,230
    22 Rs.9,001 Rs.227 Rs.9,228 Rs.18,228
    23 Rs.9,076 Rs.152 Rs.9,228 Rs.9,152
    24 Rs.9,152 Rs.76 Rs.9,228 Rs.0

    As per the above-mentioned details, Mr. Mohan will have to pay an EMI of Rs.9,228 every month during the 2-year loan tenure. His total repayment amount will come up to Rs.2,21,473, given that he will need to pay an interest of Rs.21,473

    A personal loan from Citibank can help you finance unforeseen expenses. Ensure that you do your research, check the interest rate and other charges levied by the lender, and calculate your monthly payable EMI before borrowing a personal loan.

    FAQs on Citibank Personal Loan Interest rates

    1. How soon after submitting my personal loan application will I receive the funds?
    2. You will receive the funds within 48 hours of your loan application getting approved.

    3. How will I receive the sanctioned loan amount?
    4. The loan amount will be transferred to your savings bank account.

    5. Can I make pre-payments during the loan tenure?
    6. Yes, Citibank allows customers to prepay their personal loan.

    7. I have a credit score of 500. Can I apply to Citibank for a personal loan?
    8. It is best to have a credit score of over 700 if you wish to be offered a personal loan at a reasonable rate of interest. If you have a credit score of 500, the lender may reject your personal loan application or charge you a high rate of interest for the loan.

    9. Am I required to pay the processing fee/loan booking fee at the time of applying for a personal loan?
    10. No, the loan booking fee will be deducted from the loan amount before it is disbursed to your account.


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