Multiple banks. Different interest rates. Call it a "conflict of interest".
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  • Citibank Credit Card Loan is Rated as "Great!" by 2330 Users

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    Citibank Credit Card Loan

    Apply for Personal 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.

    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
      "Good experience"
      0.5 4.0/5 "Great!"
      I had a plan to take personal loan so I have approached CITI bank. Their rate of interest was 12.45%for 4 lakhs loan amount which is very high in the market so I did not proceed here. The customer service and responsiveness is very good. My overall experience is good here.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 21, 2017
    • Citibank Personal Loan
      "Unhappy with the services"
      0.5 1.0/5 "Really Bad"
      Citibank contacted me only once after I placed a request for the personal loan. After which I got no response from them to inform me if the loan was processed or not and if not what is the reason for it. As I have a proper credit score. I am not happy with the bank.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 20, 2017
    • Citibank Personal Loan
      "Very good experience"
      0.5 4.0/5 "Great!"
      I have applied for a personal loan with Citibank and the process is on. Till date it is a smooth process and the services are good. The bank is also offering me a reasonable rate of interest and processing charges. Overall it is a good and hope it continues to be like that.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 20, 2017
    • Citibank Personal Loan
      "Good Experience"
      0.5 5.0/5 "Blown Away!"
      CITI bank loan process went well they called me on time, I got the preapproval loan. Based on that CITI have processed the loan quickly. I am a salary holder of CITI bank, they gave corporate interest around 12.25% of interest and taken less processing fee as per the market.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 20, 2017
    • Citibank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      The experience was fine one with the CITI bank for the personal loan and the loan amount got disbursed within three days of time. Response is good one with the CITI bank.
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Oct 17, 2017
    • Citibank Personal Loan
      "Services not up to the mark"
      0.5 2.0/5 "Expected more"
      It was not a very good experience with Citibank for the personal loan and the transaction was cut off as they were not very clear in their communication. Through the bank was offering a decent deal on the interest rate and processing charges.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 17, 2017
    • Citibank Personal Loan
      "Good services"
      0.5 4.0/5 "Great!"
      The experience at Citibank is good for the personal loan as they contacted me on time and informed the details. I did not go ahead as I changed plans. The rate of interest and processing charges was normal and in all it was a good and without any inconvenience.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 16, 2017
    • Citibank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      Citibank was good in the response as they contacted me on time after I applied for a personal loan, The expected loan amount was sanctioned on time, The rate of interest was not satisfacatory becasue other bankers are doing less than 11%. For preclosure they charge 3%.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 16, 2017
    • Citibank Personal Loan
      "Hassle free"
      0.5 5.0/5 "Blown Away!"
      I had personal loan with CITI bank, I like their processing and paper less documentation process. CITI interest rate was nominal, I took the amount of Rs.5 lakhs for the tenure of three years. They gave me pre closure and part payment without any charges.
      Was this review helpful? 0
      , mumbai
      Reviewed on Oct 16, 2017
    • Citibank Personal Loan
      "EXCELLENT"
      0.5 4.5/5 "Excellent!"
      My earlier experience with Citibank has been better than the current experience. Because my personal loan was disbursed as promised, more over it was a larger amount. The rate of interest was also nominal and I got to pre close the loan and I was not charged a fee.
      Was this review helpful? 0
      , thane
      Reviewed on Oct 16, 2017
    • Citibank Personal Loan
      "SATISFACTORY"
      0.5 3.0/5 "Satisfactory"
      Citibank was not at par with the rest of the market. Since I started my process with them, that is why I went ahead. They took a little more than a week to complete the personal loan. They took 72 hours to contact me after applying after which another two days to collect the documents and after which few more days again for the disbursement. They are high in the processing fee and they also charged a additional fee. They even have a fee for the pre closure.
      Was this review helpful? 0
      , thane
      Reviewed on Oct 16, 2017
    • Citibank Personal Loan
      "Not recommendable"
      0.5 2.5/5 "Just OK"
      It was not a good experience with Citibank for the personal loan. I was not getting what I was told. I was told initially that I would get a interest rate of around 10.99% and at the disbursement I was informed that the interest rate is of 12.99% and I am not happy with that. I was not in the situation to cancel the loan too. Then there was a option of a part payment and foreclosure with a zero fee. Later I was told that the part payment can be done only after a year and I can a maximum of five EMIs. Like wise there would be a fee of 3% for the foreclosure. More than all, is I was told that I would get 12 lakhs and at the end I was given only 6.5 lakhs. Due to this I had to arrange the balance funds by taking another loan from another bank.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 16, 2017
    • Citibank Personal Loan
      "High on charges and ROI"
      0.5 4.0/5 "Great!"
      Citibank was good in the response as they contacted me on time after I applied for a personal loan. I did not go ahead as I got a better deal from another bank. The interest rate was around 12.5% and the processing charges was high too when compared to another bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 15, 2017
    • Citibank Personal Loan
      "Good customer service"
      0.5 5.0/5 "Blown Away!"
      I have applied for the personal loan from CITI bank, i am happy that my loan application was approved and the required amount was sanctioned. The customer service is good and they were very helpful, the process was easy, smooth and fast. They provided door step service to collect the documents. Further, I am very much satisfied with the rate of interest.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 15, 2017
    • Citibank Personal Loan
      "High on the ROI"
      0.5 4.0/5 "Great!"
      The services was good from Citibank. I received a call after I had applied for a personal loan. The team explained the details to me. I did not go ahead with the bank is because rate of interest is very high and the processing charges were high too.
      Was this review helpful? 0
      , kolkata
      Reviewed on Oct 15, 2017
    • Citibank Personal Loan
      "Good customer service"
      0.5 4.0/5 "Great!"
      I have applied for the personal loan from Citi bank, i am happy that my loan amount was disbursed. When it comes to customer service, it was good and they were very helpful, the process was smooth and easy. They also provided door step service for the collection of documents. The rate of interest is high when compared to all other banks, i was in need of urgent loan so i got it from Citi bank.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 15, 2017
    • Citibank Personal Loan
      "Better"
      0.5 4.0/5 "Great!"
      I have already taken the CITI bank personal loan like its a kind of top up and the rate of interest was around 14%. I would like to say that the response was fine one with the CITI bank and I have not faced any issues with them.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 15, 2017
    • Citibank Personal Loan
      "Best"
      0.5 5.0/5 "Blown Away!"
      Process was very nice with the CITI bank for the personal loan, also they have credited the loan amount in a week of time. I would like to say that the response was okay with the CITI bank.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 15, 2017
    • Citibank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have applied for the personal loan from CITI bank, i am happy that my required loan amount was approved and disbursed. As soon as i applied for the loan, they called me immediately, the process was smooth and fast, my loan was approved within 3 days. They provided a door step service for the collection of documents and i am also satisfied with the rate of interest.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 15, 2017
    • Citibank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The service is good with Citibank. They gave prompt response in regards to my personal loan application. The required loan-amount has been disbursed and I ma satisfied with it. The rate of interest is nominal with Citibank when compared with others. I am satisfied with the loan amount.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 14, 2017
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