Multiple banks. Different interest rates. Call it a "conflict of interest".
  • Citibank Credit Card Loan is Rated as "Great!" by 2873 Users

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    Promised Interest Rate

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    Personal Loan BYTES FROM OUR KITCHEN

    Citibank Credit Card Loan

    A specialised financing provided by Citibank that utilises the unutilised credit limit on an individual’s credit card to provide funds as per a loan. This loan is already pre-approved and all that the applicant has to do is to apply for the loan through the bank. The loan amount is by all means a personal loan which is much easier to apply for and allows fund availability within a relatively short period.

    Where can a Citibank Loan on Credit Cards be used?

    Citibank Loan on Credit Cards is quite versatile in its usability. The bank doesn’t impose many limitations on the loan. The loan adds on to the usage of the credit card, so EMIs payable come as a part of the minimum amount due per month on the credit card.

    Who can apply for Citibank Loan on Credit Cards?

    The loan provided can be availed specifically by all individuals who own credit cards issued by Citibank and have a sizable unused portion of their credit limit. Terms and conditions as well as age limits and income criteria as defined for credit cards will be applicable for this kind of loan.

    What are the applicable financing limits?

    The loan amounts under the Loan on Credit Cards facility depend upon the unused credit limit of the applicant. As per the value of the unused credit limit, a loan amount can be issued that is within the credit limit of the applicant. In certain cases, Citibank might also allow a loan that exceeds the credit limit. The minimum amount of loan that can be availed through this facility is based on the discretion of Citibank, observing the financial behaviour of the applicant.

    The loan applied can range within tenures decreed by Citibank and EMIs can also be made for as long as tenure depending upon the principal amount. Pre-closure of the loan might attract additional fees at the rate of 3% of the outstanding amount.

    What are the Interest rates of Citibank Loan on Credit Cards

    Interest payable on Citibank Loan on Credit Cards varies as per the usage of the amount. The rates are based on the discretion of the bank, though as of November 2015, the rate is similar to the interest rate charged on the credit card through which the loan is applied for. Differential rates are applicable for different credit cards from Citibank and accordingly that affects the interest rate of the loan availed. The nominal rates stay within 12% to 19% per annum. In case loans approved are exceeding the credit limit, an over limit charge might be imposed. Processing fees for such loans will be 2.5% of the loan amount (or INR 300), whichever is higher.

    What documents are required for applying for Citibank Loan on Credit Cards?

    • Identity proof (Government approved – PAN Card, Passport, Voter ID) in case credit card is less than 9 months old
    • Address Proof (Rental agreement, Business establishment deeds, etc.) in case credit card is less than 9 months old
    • Signature proof
    • Application form through online means or physical branch

    This loan is promoted as an ‘Instant Loan’ which makes use of existing KYC documents to provide requisite documentation. Extra documentation might be requested by Citibank as required.

    How to apply for Citibank Loan on Credit Cards Financing?

    This financing can be applied for online at Citibank’s website, by calling up the bank’s phone banking system or at any physical branch. One should possess the necessary documentation to be submitted at the time of applying for this financing option.

    Citibank Credit Card Loan Reviews

    • Citibank Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I am not that much satisfied with this experience with this loan, because the interest rate with them has been higher than what they where promising initially, where the promises where not fulfilled. The loan amount has been fine, and there has been some processing fee as well. Their customer support has also been helpful as well.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 22, 2019
    • Citibank Personal Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      There was no charges like processing fee with this loan and the process was fast and quick where it was seamless and was done within the promised time. The loan amount has been sufficient and the interest rate was okay and there was no charges. The customer support was helpful.
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Jan 19, 2019
    • Citibank Personal Loan
      "Rate of interest should be reduced"
      0.5 4.0/5 "Great!"
      Citi bank rate of interest is too high for the amount of Rs. 3 lakhs, they have taken some processing fee from the disbursement but it was quite nominal. The documentation process was smooth, on the expected time I got the loan amount from the bank.
      Was this review helpful? 5
      , hyderabad
      Reviewed on Jan 18, 2019
    • Citibank Personal Loan
      "CITI bank not recognized the low salaried people."
      0.5 3.0/5 "Satisfactory"
      I have applied the personal loan with CITI bank but they have rejected the loan due to the documentation issue. They have offered me a 18% rate of Interest rate and processing fee of 1.5% which is too high. I have applied the loan amount of Rs. 2 lakhs. The process is very long.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 18, 2019
    • Citibank Personal Loan
      "Easy process and good options"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from Citibank. It is a ready credit loan. The rate of interest and processing charges are nominal. This option was a pre approved loan of two lakhs. The pre closure is also convenient as I can even close the loan the next day.
      Was this review helpful? 1
      , pune
      Reviewed on Jan 18, 2019
    • Citibank Personal Loan
      "Very Good Loan Experience"
      0.5 4.0/5 "Great!"
      As per my requirement they have approved the loan amount hence i have chosen the CITI bank. CITI bank customer care service is really nice. I have got the loan on time. Documentation process is smooth and good. I don't face any issue with the CITI bank personal loan.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jan 18, 2019
    • Citibank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My experience with CITI bank for personal loan was good, the loan amount was sufficient and rate of interest was 0.5% high when compared to market. Customer service was good and they responded on time. Tenure period for this loan is for 5 years.
      Was this review helpful? 1
      , kolkata
      Reviewed on Jan 17, 2019
    • Citibank Personal Loan
      "Good Experience with CITI"
      0.5 5.0/5 "Blown Away!"
      The experience is good with CITI bank, I have taken the loan of amount of Rs.7.5 lakhs for total tenure period around 7 years. From the bank I got the interest of 10% of corporate interest, there was some minimum charges around 3000 as processing fee.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 17, 2019
    • Citibank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have taken my personal loan from Citi Bank through online channel. I think the interest rate which can be lower compare to other banks. I believe they have charged the processing fee which is minor amount because have not received the whole amount on my loan. They took 3 to 4 days for the disbursement. My documents are collected by the executive.
      Was this review helpful? 3
      , mumbai
      Reviewed on Jan 14, 2019
    • Citibank Personal Loan
      "Good"
      0.5 2.0/5 "Expected more"
      The rate of interest and charges are good. There was no proper communication between the bank. They took 2 weeks to complete the process. I need to followup every time. The documents are uploaded online and also executive came to collect, they have explained the terms and conditions of part payment. I have opted the loan for 3 years.
      Was this review helpful? 2
      , mumbai
      Reviewed on Jan 12, 2019
    • Citibank Personal Loan
      "Okay loan services"
      0.5 4.0/5 "Great!"
      The interest rates are very much competitive thats the reason i have chosen CITI bank. Within a short span of time, they have given me a loan. The interest rates are economical and processing fee was competitive. I have chosen the tenure period of 5 years. Documentation process was went smoothly.
      Was this review helpful? 2
      , new delhi
      Reviewed on Jan 10, 2019
    • Citibank Personal Loan
      "Good Experience"
      0.5 3.0/5 "Satisfactory"
      My personal loan was taken from CITI bank. There is no reason for choosing this bank. The interest rates are too high and there is no processing fee. There is a charges for pre-closure after 1 year i can able to do. I can able to make a partial payments 3 times in a year. Overall, i had a good experience with them.
      Was this review helpful? 2
      , bangalore
      Reviewed on Jan 09, 2019
    • Citibank Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      The process in getting this loan has been good and the loan amount which they had provided has been sufficient. The interest rate with them has been nominal and there has not been any hassle faced with their banking service where their customer support has also been helpful.
      Was this review helpful? 4
      , new delhi
      Reviewed on Jan 08, 2019
    • Citibank Personal Loan
      "Communication should be clear"
      0.5 1.0/5 "Really Bad"
      They have collected all the documents from my end, while processing my loan due to some mismatch they have rejected it. The person who collected the documents, asked me to update the land mark of the address which was not mentioned in my address proof. At last the processing team have rejected it without any information very dis satisfactory service from the Citi.
      Was this review helpful? 2
      , bangalore
      Reviewed on Jan 08, 2019
    • Citibank Personal Loan
      "Process is good"
      0.5 4.0/5 "Great!"
      I have taken a personal loan with Citibank. The process to get the loan is good and there are no hassles in the process. The documentation was collected on time and I am also okay with the rate of interest and processing charges. It is nominal too.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Jan 07, 2019
    • Citibank Personal Loan
      "Good Loan Experience"
      0.5 4.0/5 "Great!"
      Citi gave me the good experience on the personal loan, they taken only a weeks time to disburse the loan amount. I done the process through online. My principle amount is Rs.2 lakhs for the tenure of 3 years, they gave me the nominal interest, I am very satisfied with them.
      Was this review helpful? 2
      , chennai
      Reviewed on Jan 05, 2019
    • Citibank Personal Loan
      "Its Good"
      0.5 4.0/5 "Great!"
      There was no issues with the citi bank the loan process went very smooth. The bank was quoted me the standard interest for the amount Rs. 5 lakhs for 2 years they gave me the part and preclosure option after one year. If would be if they provide option for preclosure after 6 months.
      Was this review helpful? 2
      , mumbai
      Reviewed on Jan 05, 2019
    • Citibank Personal Loan
      "Good in Service"
      0.5 5.0/5 "Blown Away!"
      I carry a salary account in Citibank and at the time of in need of a personal loan i had applied with Citibank. My application was taken care and was processed on a quick note. I am happy with its overall services. The response system is quick over here.
      Was this review helpful? 3
      , bangalore
      Reviewed on Jan 05, 2019
    • Citibank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      Earlier I took a personal loan with Citi Bank and it has been closed. The loan period was 2015 to 2016. I did not give any single document for the loan, it was offered by the bank based on credit card. The customer service is pretty good. The rate of interest was average.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jan 04, 2019
    • Citibank Personal Loan
      "Average"
      0.5 4.0/5 "Great!"
      I took my personal loan from Citi Bank through online channel. The customer service is good. The rate of interest is something different when compared to others. HDFC is giving 12.75 and where Citi charged me 13.25%. They took longer time to disburse the loan amount from the bank end.
      Was this review helpful? 3
      , mumbai
      Reviewed on Jan 04, 2019
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