Multiple banks. Different interest rates. Call it a "conflict of interest".
Multiple banks. Different interest rates. Call it a "conflict of interest".
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  • Citibank Credit Card Loan is Rated as "Great!" by 2575 Users

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    Citibank Credit Card Loan

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    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.

    The loan can also be opted for at BankBazaar’s website where various infographics and calculators can allow a better understanding of how the loan works.

    Citibank Credit Card Loan Reviews

    • Citibank Personal Loan
      "Best"
      0.5 5.0/5 "Blown Away!"
      I have closed the personal loan with the CITI bank and I am not aware of their interest rate. I would like to say that the customer service is really good one for me and I have not faced any hiccups on it.
      Was this review helpful? 0
      , new delhi
      Reviewed on Dec 15, 2017
    • Citibank Personal Loan
      "Best banking"
      0.5 4.0/5 "Great!"
      I have applied for a personal loan with CITI bank.They have immediately processed the request within 2 days.I have submitted documents, the loan amount is 10 lakhs,rate of interest is nominal compared to others.Net banking is working fine.
      Was this review helpful? 1
      , gurgaon
      Reviewed on Dec 12, 2017
    • Citibank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with Citi bank. I had sanctioned the expected amount which is 95,000,rate of interest is nominal when compared to other banks.I was asked to submit documents and they had processed it immediately as far as the website is concerned it is easy to use..
      Was this review helpful? 1
      , new delhi
      Reviewed on Dec 12, 2017
    • Citibank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with Citi bank.The loan amount is 6.69 lakhs,rate of inert is 12.24% is nominal compared to other banks.They had deducted processing fees of .5% from the loan amount.The tenure is for 60 months,submitted documents to process the loan.
      Was this review helpful? 1
      , chennai
      Reviewed on Dec 12, 2017
    • Citibank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with Citi bank.The loan amount is 6.69 lakhs,rate of inert is 12.24% is nominal compared to other banks.They had deducted processing fees of .5% from the loan amount.The tenure is for 60 months,submitted documents to process the loan.
      Was this review helpful? 1
      , chennai
      Reviewed on Dec 12, 2017
    • Citibank Personal Loan
      "Very good service"
      0.5 4.0/5 "Great!"
      I have taken a personal loan with CITI bank.The loan amount is 10 lakhs,rate of interest is 10.99% low as compared to other banks.They have quickly processed the request on time.They have deducted minimum amount of processing fees.The net banking and Mobile App is good.
      Was this review helpful? 1
      , new delhi
      Reviewed on Dec 11, 2017
    • Citibank Personal Loan
      "Excellent banking"
      0.5 5.0/5 "Blown Away!"
      I have applied for a personal loan with CITI bank,it was approved with limit of 3.9 lakhs,Rate of interest is 12.99% nominal as compared to other banks.They had immediately responded for the request but they took 2 weeks to complete as there was a delay from my end.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 11, 2017
    • Citibank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My personal loan application was approved with CITI bank and the experience was quite good. The process was very smooth and easy, my loan amount was approved within 1 week. Customer service was fine, there were no issues with them and they followed up correctly. They provided door step service to collect the documents. The rate of interest of 11.5% is nominal when compared to other banks.
      Was this review helpful? 0
      , mumbai
      Reviewed on Dec 08, 2017
    • Citibank Personal Loan
      "Great Experience"
      0.5 5.0/5 "Blown Away!"
      I like the CITI BANK service. They called me on time, everything was good. The response was fast. The rate of interest was not high compared to other banks. The disbursement was on time. The documents are collected at doorstep. The part payment and pre closure options are average.
      Was this review helpful? 0
      , new delhi
      Reviewed on Dec 08, 2017
    • Citibank Personal Loan
      "Very good"
      0.5 4.0/5 "Great!"
      My personal loan was taken with CITI Bank. The loan amount was 1.23 lakhs and the interest rate was 12% which was average in the market. They have sanctioned the loan with the committed time and the pre closer is after 1 years. My experience was very good here.
      Was this review helpful? 1
      , bangalore
      Reviewed on Dec 08, 2017
    • Citibank Personal Loan
      "Very good"
      0.5 4.0/5 "Great!"
      My personal loan was taken with CITI Bank. He loan amount was 1.23 lakhs and the interest rate was 12% which was average in the market. They have sanctioned the loan with the committed time and the pre closer is after 1 years. My experience was very good here.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 08, 2017
    • Citibank Personal Loan
      "Not good"
      0.5 3.0/5 "Satisfactory"
      I have my personal loan with CITI bank . The process was not that good since they have taken a week of time for disbursing the loan amount even after the continuous followups.I have taken 10 lakhs and the interest rate was 11% which was bit high than other banks.
      Was this review helpful? 0
      , pune
      Reviewed on Dec 08, 2017
    • Citibank Personal Loan
      "Excellent service"
      0.5 4.5/5 "Excellent!"
      Citi personal loan service was good ,the interest rate was reasonable by compared to the market value also the process was very fast with citi personal loan department and the customer support was good ,I am very much happy with the service of citi personal loan service.
      Was this review helpful? 0
      , chennai
      Reviewed on Dec 08, 2017
    • Citibank Personal Loan
      "Very good"
      0.5 4.0/5 "Great!"
      I have taken1 lakh personal loan with CITI Bank . The tenure period was 3 years and the interest rate was 10.99% which was satisfactory . The customer service and responses was up to the mark. They have sanctioned the loan with the committed time and they have provided door step service for collecting document .
      Was this review helpful? 1
      , mumbai
      Reviewed on Dec 07, 2017
    • Citibank Personal Loan
      "Excellent"
      0.5 4.5/5 "Excellent!"
      I have my personal loan with CITI bank 5.69 lakhs and the interest rate was 13.25%. The tenure period was 5 years . The loan process was good and smooth. They have sanctioned the loan with the committed time and the processing fee was nominal .
      Was this review helpful? 1
      , bangalore
      Reviewed on Dec 07, 2017
    • Citibank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      My personal loan application was approved with CITI bank and it was a good experience overall. When it comes to customer service, it was good and they responded on time, documents were collected door step. The process was quite smooth and it took 1 week for the loan amount to get approved.The rate of interest was nominal when compared to other banks.
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Dec 07, 2017
    • Citibank Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I have applied for the personal loan from CITI bank, my loan application was approved but the requested amount was not disbursed. I have requested loan for Rs 10 lakhs but they approved loan only for Rs 9.86 lakhs. The process was not good at the initial stage as there was too much of bargaining done and too many terms and conditions. I paid 0.5% excess for processing fee whereas i am supposed to pay only 2.25%. Customer service part was good, they provided door step service to collect the documents. The process was smooth and the loan amount was approved within the given time.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 07, 2017
    • Citibank Personal Loan
      "Best banking"
      0.5 4.0/5 "Great!"
      I have taken a personal loan with Citi bank the loan amount is there lakhs,rate of interest is high as compared to other banks.The executives shared the complete details of the loan.They took almost 20 days to complete the process.Its hassle free banking with them.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 07, 2017
    • Citibank Personal Loan
      "Not bad"
      0.5 3.0/5 "Satisfactory"
      I have my personal loan with CITI bank. The loan process was bit slow . They have taken much time and I have followed 10-15 days of time for the approval. The loan amount was 2 lakhs and the interest rate was 12.99% which was average in the market . They have provided door step service for collecting documents and the processing fee was also very much nominal.
      Was this review helpful? 0
      , pune
      Reviewed on Dec 07, 2017
    • Citibank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with CITI bank.The loan amount is 5.85 lakhs ,Rate of interest is low as compared to others.The process was very quick and they completed within few days,i am happy about the service.Net banking is convenient to use.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 07, 2017
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