Multiple banks. Different interest rates. Call it a "conflict of interest".
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  • Citibank Instant Loan is Rated as "Great!" by 2506 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
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      Citibank has processed my personal loan on time and the customer services are excellent. The process was very convenient and the loan amount disbursed is also good. There are no hassles and I am very much happy with the banking services as they have always been perfect.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 18, 2017
    • Citibank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have applied for the personal loan from Citi bank, my loan application was closed becausei have taken the personal loan from other bank. The customer service was good and i liked the ways they responded, they followed up on time. The only issue was the rate of interest which is high when compared to other banks.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 18, 2017
    • Citibank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have applied for a personal loan with CITI bank the service was very good with CITI bank but I was not required with the loan service currently they quoted me with a better interest rate and the customer service was also good it was totally a good experience with CITI for my personal loan service.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Nov 17, 2017
    • Citibank Personal Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      It was been eight months I using the personal loan service from CITI bank they offered me a loan amount of 1.82 lakhs. The customer service was good compare to others they offered me a interest rate of 13.49 which was fine compare to others it was a good experience with CITI bank for my personal loan service.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 17, 2017
    • Citibank Personal Loan
      "Disappointed service"
      0.5 3.0/5 "Satisfactory"
      I have given all the details to the Citibank , but I haven't got any response from Citibank in regards to my personal loan application and I got disappointed with their bank service. The rate of interest and the charges are low with Citibank when compare with others.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 17, 2017
    • Citibank Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      The Citibank never gave any call in regards to my personal loan application, The rate of interest which was offered by Citibank was low when compared with others, The response part need to be improved with Citibank. The follow up need to be focused with Citibank
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 17, 2017
    • Citibank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have applied for the personal loan from Citi bank, my loan application was approved and the requested amount was disbursed. The experience was very nice and my loan amount was approved within a week. Customer service was very good and they responded on time. No documents were required as i already hold a salary account with this bank. The process was very smooth and easy. Rate of interest of 12.24% is best rate in the market.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 17, 2017
    • Citibank Personal Loan
      "Needs to improve"
      0.5 3.0/5 "Satisfactory"
      I have applied for the personal loan from Citi bank, my loan application was closed because there was an issue with my CIBIL score. When it comes to customer service, they just called once and there was no further follow up done, they did not respond. The rate of interest was nominal when compared to other banks.
      Was this review helpful? 0
      , pune
      Reviewed on Nov 17, 2017
    • Citibank Personal Loan
      "Zero response"
      0.5 1.0/5 "Really Bad"
      Citibank has not contacted me for the personal loan. It has not been a good experience as I got no response from the bank to acknowledge my details. I have no information on the interest rate and charges. It would be better if the bank contacted the customer in time of need.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 17, 2017
    • Citibank Personal Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      My personal loan experience with CITI bank was good, they provided door step service for the collection of documents, the process was very smooth and easy. Customer service was best and they responded well. The loan amount was for Rs 2 lakhs with the rate of interest of 12.00% which was the best rate in the market.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 16, 2017
    • Citibank Personal Loan
      "Need Improvement"
      0.5 1.0/5 "Really Bad"
      When I have applied personal loan from Citibank I haven't got any call back from Citibank, in regards to my personal loan application. The rate of interest which Citibank was offered was average when compared with others. The response part needs to be improved with Citibank.
      Was this review helpful? 0
      , noida
      Reviewed on Nov 16, 2017
    • Citibank Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      CITI personal loan service was good they did not ask for any documents there was no proper response from CITI also they were some personal issue, so I was unable to proceed further with my loan process. It was totally an average service from CITI for my personal loan service.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 15, 2017
    • Citibank Personal Loan
      "OK OK EXPERIENCE"
      0.5 3.0/5 "Satisfactory"
      The customer service was not good at all no one contacted me from the bank side not even once they called . I never got any information about the loan process . I did not expect that form the bank side . I am really disappointed with the experience i had with CITI Bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 15, 2017
    • Citibank Personal Loan
      "OK OK EXPERIENCE"
      0.5 3.0/5 "Satisfactory"
      It was a good customer service from the CITI Bank as , for a personal loan i applied . The bank was not giving a full approval they only providing me 75 to 80% of the amount i asked , so i canceled the application from my side . The bank informed me everything i wanted to know for the loan process . Rest everything was good only from the bank side .
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 14, 2017
    • Citibank Personal Loan
      "Worst service"
      0.5 1.0/5 "Really Bad"
      It was not a good service from CITI bank for my personal loan service there was no proper response with CITI bank I feel CITI use to improve their response some more and the documents have been collected directly from my door step ,I am not happy with CITI personal loan service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 14, 2017
    • Citibank Personal Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      The interest rate offered by CITI bank for my personal loan service the documents have been collected directly but there was no proper response from CITI but the customer service was good it was totally a good experience with CITI for my personal loan service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 14, 2017
    • Citibank Personal Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      I have already closed the personal loan with the CITI bank and the interest rate is good one for me. The loan amount got disbursed within immediate basis. I would like to say that the processing charges were on higher end when it comes to CITI Bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 13, 2017
    • Citibank Personal Loan
      "Worst service"
      0.5 1.0/5 "Really Bad"
      It was good experience with CITI for my personal loan but I feel they need to improve their service some more but the process has to improve and the interest rate they offered me was fine compare to others in the market it was totally a good experience with CITI for my personal loan service.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 13, 2017
    • Citibank Personal Loan
      "poor response"
      0.5 2.0/5 "Expected more"
      I have applied for a personal loan from CITI Bank. I did not got any response from the bank end. I have waited for a call back from there end and i dont know the exact reason why they haven't contacted me. Thus my personal loan application with CITI bank got closed.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 13, 2017
    • Citibank Personal Loan
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      I have applied for a personal loan with CITI Bank. The executive who contacted me informed me that i am working with a non listed company and they could not able to process my application. I was not satisfied as they could have check whether, I am a salary holder or not as they had given me the loan.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 13, 2017
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