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  • Citibank Instant Loan is Rated as "Great!" by 2700 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN

    Citibank Instant Loan

    Citibank is offering loan against credit or cash limit on your Citibank Credit card. The loan amount is over and above the credit limit available to you. The loan amount offered depends on your credit history. You will get to choose the time frame that you require to repay the loan. You can choose from 6 or 12 or 24 or 36 or 48 months repayment period option. On the approval of the loan, you will receive the draft in 3 working days and it will be sent to your postal address. The credit card should be unexpired credit card and it must be issued by Citibank India.

    Encashment

    The loan is available only to the card member and only on the date of encashment of the demand draft that is issued by the bank. The demand draft is valid for 30 days from the date of its issuance. The EMIs will commence only after the demand draft has been encashed.

    The demand draft can also be issued against another bank and the loan is to be availed from the date of draft issuance. The loan in this case is valid for a period of 90 days.

    Free Look Period

    demand draft that is issued for the Citibank credit card holders is valid for 30 days and if the demand draft is not encashed within 30 days, then the demand draft will be cancelled and no charges will be levied towards the transaction.

    If the demand draft is issued against another bank then it is valid for 90 days and if the demand draft is not encashed then it will be cancelled and the charges incurred will be reversed upon the customer’s request. The reversal will reflect in your credit card statement.

    Billing

    For loan on phone, the EMI is billed on the first billing date for the credit card. For loan on phone top-ups, the first EMI is billed on the first billing date for the credit card.

    For loan on phones against the credit line, the EMI will be included in the minimum amount that is due on the credit card. If the minimum amount due is unpaid, charges will be levied on the outstanding amount. For loan above the credit line, the EMI is treated as a normal purchase.

    Apply for Personal Loan

    Interest calculation on EMI products

    Interest rate that is applicable will be communicated to you at the time of taking the loan. The rate will be mentioned on the demand draft advice slip. For top-up loans , the old loan is closed and new interest rate is levied and it will be communicated at the time of taking the loan and it will also be mentioned on the demand draft advice slip. The interest for the first instalment is calculated from the date of issuance till the first billing date. The subsequent instalment interest is computed on monthly basis and it is debit to the credit card on the date of monthly bill. Interest on EMI is calculated as follows:

    Outstanding loan principal X Interest Rate X (Number of days applicable/360).

    The first EMI may be lesser than the standard EMI amount that would’ve been communicated to you depending on the date that you encash your demand draft.

    Note: Citibank reserves the right to modify the interest rate from time to time with prior notice.

    Service Charge

    If the amount that you pay toward your credit card dues is less than the total amount due, then service charge will be levied on the outstanding balance.

    Other charges

    One time transaction fee is charged on every loan. The amount is billed to your monthly credit card statement. Transaction fee on loan is 2.5% of the loan amount or Rs.300, whichever is higher. Transaction fee on balance transfer is 1.5% of the loan amount or Rs.200, whichever is higher.

    Prepayment charges is 3% on the outstanding principal amount.

    Note: Citibank reserves the right to modify the rate from time to time with prior notice.

    Pre-closure

    Pre-closure can be due to non-payment of the minimum amount due for three successive months. The interest for those days and the pre-closure charges is deducted to your credit card account. The bank reserves the right to demand immediate repayment of the outstanding amount.

    Pre-closure can be due to card closure as well. The charges will be debited to the credit card account and you will be required to pay them immediately.

    Exclusion

    The loan on credit card is not issued for:

    • Business purposes
    • Purchase of gold or gold bullion or gold coins or gold jewellery or gold exchange traded funds or for gold mutual funds.
    • Speculative purposes
    • Trading purposes such as shares and short term investments such as KVP, PPF, NSC, Mutual Funds, fixed deposits, RBI bonds, ULIPs and for subscription for Citi wealth management or insurance products.

    Citibank Instant Loan Reviews

    • Citibank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have taken a personal loan from Citi bank, the process was good I received the amount on time, I received the whole amount of Rs. 2,00,000 that I applied for. I only found that interest rate was a bit high as compared to others, or else there is no other issues with the bank.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 23, 2018
    • Citibank Personal Loan
      "Quick and easy process"
      0.5 4.0/5 "Great!"
      It was a good process with Citibank for the personal loan. I got the loan within one week. The rate of interest was of 10.99% and there was also a nominal processing fee. The customer services and response is good and I got the loan as needed too.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 22, 2018
    • Citibank Personal Loan
      "Good and satisfactory"
      0.5 5.0/5 "Blown Away!"
      It was a good at Citibank for the personal loan. The process is good and the documents was collected on time. The bank disbursed the loan as per my requirement. I am currently not sure on the interest rate and processing charges. So I would not rate them on the same.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 22, 2018
    • Citibank Personal Loan
      "Good. Can do better"
      0.5 3.0/5 "Satisfactory"
      The process at Citibank was okay but when I spoke to the executive I was told that the personal loan will be five in two to three days and I was on time to submit my documents. But the list of documents required was not informed to me clearly and I had to repeatedly submit my paper work.
      Was this review helpful? 0
      , kolkata
      Reviewed on May 22, 2018
    • Citibank Personal Loan
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      I have approached CITI bank for my personal loan . Their interest rate was very high so I have canceled and taken with HDFC bank. I was looking for 8 lakhs and the interest rate was 15.85% which si very high . The customer service and responses was good.
      Was this review helpful? 0
      , pune
      Reviewed on May 20, 2018
    • Citibank Personal Loan
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      I have approached CITI bank for my personal loan but their interest rate was very high so i have canceled here and taken with ICICI bank.I was looking fir 4 lakhs and the interest rate was 12.24% which is very high . I am satisfied with the customer service and responses.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 20, 2018
    • Citibank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken this loan almost seven years back for my personal use. The services which they have provided had been good. It was a paperless approval and i had submitted the documents online and it was an easy and smooth process. The rate of interest was nominal and also the loan amount was satisfactory.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 18, 2018
    • Citibank Personal Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      I have approached CITI bank for my personal loan .I have just enquired about the loan and i did not submit the documents . The loan amount i was looking for was 7 lakhs ad the interest rate is 14.49% which is very high so I have canceled the request. I am not satisfied the customer service and responses.,
      Was this review helpful? 0
      , new delhi
      Reviewed on May 17, 2018
    • Citibank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The service was good from the Citibank in regards to my personal loan application. I have got the loan amount within a week time. The customer support service and the response is good from the Citibank. The rate of interest and the charges are average here.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 16, 2018
    • Citibank Personal Loan
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with Citibank. The customer services and response was prompt. The process is good and on time and the loan amount I received was as needed. The rate of interest was of 10.99% and the processing fee is minimal. Satisfactory overall.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 14, 2018
    • Citibank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have tried getting the personal loan from the Citibank. I have got better loan amount with the good interest rate so that was the reason I have cancelled the personal loan application with Citibank . The customer support service and the response is good with the Citibank and they gave me good approach in regards to my personal loan.
      Was this review helpful? 0
      , navi mumbai
      Reviewed on May 14, 2018
    • Citibank Personal Loan
      "Interest was high"
      0.5 4.5/5 "Excellent!"
      I had taken a personal loan from CITI bank and the approved loan amount was 2 lakhs.The interest was 15% which was very high. The monthly EMI is 8000 for 3 years. But i have close the loan by part payment. There was no part payment charges with CITI.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 13, 2018
    • Citibank Personal Loan
      "Excellent service"
      0.5 4.0/5 "Great!"
      I was in need of a personal loan for which i have applied, where i had a nice experience with them. It was a good response that they had given for my application. Even the rate of interest which they where offering during that time was very minimum compared to the other banks which was available in the market.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 12, 2018
    • Citibank Personal Loan
      "Unhappy with the services"
      0.5 1.0/5 "Really Bad"
      The personal loan at Citibank was not up to the mark. After collecting the documents they have informed me that their bank is not available in my area. The bank needs to be more flexible. Not sure on the rate of interest and processing charges.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on May 12, 2018
    • Citibank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have chosen this particular institution since because of the interest rate which they were offering was very low during that particular time. The whole process was even good with them where i did not faced any hassles. From the customer service team there has been frequent calls and follow ups. I have applied for the loan for the marriage purpose.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 12, 2018
    • Citibank Personal Loan
      "Citi bank personal loan"
      0.5 4.0/5 "Great!"
      I have applied for a personal loan with CITI but it has got rejected since they need the local address proof and at the time of submitting my application. I had an out standing balance on my credit card. So i could not able to proceed further with my personal loan application.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 11, 2018
    • Citibank Personal Loan
      "Average service"
      0.5 2.0/5 "Expected more"
      The interest rate with this personal loan was quite good and comfortable. When i was having the conversation with the customer service executive of the bank, but there was no follow ups from their side. It was not satisfactory experience overall.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 11, 2018
    • Citibank Personal Loan
      "No response"
      0.5 3.0/5 "Satisfactory"
      It has not been a very good experience with Citibank. I had applied for a personal loan. It was a complete zero response and I was not informed the details as well as to why the loan was closed. I only got a SMS that it is declined. No paper work was collected.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 11, 2018
    • Citibank Personal Loan
      "Unhappy with the services"
      0.5 1.0/5 "Really Bad"
      I had applied for a personal loan with Citibank and I just got one call informing me that the application has been submitted. After which the verification did not happen and there was no information as to why the loan got declined. Not sure on the interest rate and charges.
      Was this review helpful? 0
      , gurgaon
      Reviewed on May 11, 2018
    • Citibank Personal Loan
      "Need to be clear in the process"
      0.5 1.0/5 "Really Bad"
      I had applied for a personal loan with Citibank. It has not been a good experience. Though I provided all the documents, the loan was not processed. I was also not given a valid reason as to why I could not get the loan. I am not sure on the interest rate and processing charges.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 10, 2018
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