Multiple banks. Different interest rates. Call it a "conflict of interest".
  •  Loading your search... Loading your search...
  • Citibank Instant Loan is Rated as "Great!" by 2742 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 Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from the Citibank for 4 lacs , The interest rate mis very high. I got the loan amount with in a day and credit to the account. The application and the documentation was really easy and hassle free. They need to lower the interest rates in par with other providers.
      Was this review helpful? 2
      , new delhi
      Reviewed on Jul 17, 2018
    • Citibank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It had been a very good experience i had with them in taking this personal loan where the process in getting the loan had been easy and smooth where the loan amount also had been satisfactory. The interest rate had been good with them where it was not much higher. There has not been any hassle so far.
      Was this review helpful? 2
      , kolkata
      Reviewed on Jul 12, 2018
    • Citibank Personal Loan
      "Very Good Service"
      0.5 3.5/5 "Pretty good"
      I had taken this loan almost a year back and it had been a very good experience with them. The loan amount which they where providing had been satisfactory and the interest rate with them has been okay and it was not that high. There has not been any issues faced with the services of them.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jul 12, 2018
    • Citibank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with CITI bank 1 month back. The rate of interest was very high and the loan amount was 1 lakh . The EMI period is 2 years . The process was quite easy and i had a simple documentation since i am holding a card here. The processing fee was 1% and the followup's done properly.
      Was this review helpful? 1
      , chennai
      Reviewed on Jul 12, 2018
    • Citibank Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with CITI bank and my loan experience was good, the loan amount was for Rs 1.5 lakhs with nominal interest rate when compared to other banks. Customer service was good and the tenure for this loan is 4 years. No preclosure is allowed for first 6 months.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 11, 2018
    • Citibank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I had taken this loan from them in the year of 2015 and the process in getting the loan had been easy and smooth. The loan amount which they had provided had been satisfactory but the interest rate with them had been on the higher end but it has not been a problem.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jul 07, 2018
    • Citibank Personal Loan
      "Very nice experience"
      0.5 5.0/5 "Blown Away!"
      I have applied the personal loan of 1.20 lakhs and they have sanctioned the same amount. They have offered me a interest rate of 22% per annum. Their is no processing fee for this loan. I have done the online documentation process. They have sanctioned the loan on time. Everything fine with the CITI personal loan.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 06, 2018
    • Citibank Personal Loan
      "Average"
      0.5 2.0/5 "Expected more"
      I have approached CITI bank for my personal loan process. I got a call once and later they did not taken the process forward. I am not satisfied with the customer service and responses . The loan amount was 2 lakhs and the interest rate was satisfactory . They did not contact me for the documentation process itself which was disappointing ,
      Was this review helpful? 0
      , noida
      Reviewed on Jul 06, 2018
    • Citibank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with CITI bank. I tried applying through the website but later i couldn't apply due to the technical error, the application was closed. I was expecting 4 lakhs loan amount and i have got loans from the banks. The customer service and responses was good.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 05, 2018
    • Citibank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      My personal loan was taken with INDUSIND bank 2 months back. The loan amount was 1,50,000 and the interest rate was very high . The customer service and responses was up to the mark. Its a paperless process and the processing fee was very high . They have sanctioned the loan with the committed time .
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 03, 2018
    • Citibank Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have take personal loan from the citi which they approved and the amount is reflected in 15 days ,its instant approve process. As am satisfied with the rate of interest 13%which is quiet high. They provided the tenure period of 4 year and i make the payment monthly though ECS.. There is no processing fees also,
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 03, 2018
    • Citibank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      From Citi bank i got personal loan , where the rate of interest is high when compared to other banks . Its instant loan approval process where the documentation has been done so quick and the amount reflected in my account . There processing fees is so high . I have chosen the tenure period of 3 years . Customer service and response is good compared to other bank.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 03, 2018
    • Citibank Personal Loan
      "Documentation process has to improved"
      0.5 2.0/5 "Expected more"
      I have applied a personal loan in CITI bank. They have rejected the loan due to address proof. I have given my company id proof as address proof. They have Government address i said i don't have the current address proof with me. They have done a documentation through phone calls. Actually i have applied the loan around 1.5 lakhs and they have offered me a interest rate of 11.25%. Any way i will recommend this bank to my friends.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jun 29, 2018
    • Citibank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      Rate of interest was around 10.99% for the personal loan with the CITI bank. I would like to say that the customer service is perfectly fine one for me with the CITI bank and everything is good too with the CITI bank.
      Was this review helpful? 0
      , noida
      Reviewed on Jun 29, 2018
    • Citibank Personal Loan
      "Excellent Service/Response"
      0.5 5.0/5 "Blown Away!"
      Delivered what i was told during initial calls. Minimum interest rate(10.49%) with 0.5% processing fees. This is the lowest that i came across . No hidden charges and no hidden terms and conditions. Amount got processed with in 5 days. Just make sure all the documents are correct and you are not providing any false information.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jun 28, 2018
    • Citibank Personal Loan
      "Very good"
      0.5 4.0/5 "Great!"
      My personal loan was taken with CITI bank. The process was very good and the loan amount was 5 lakhs . The interest rate was satisfactory . The customer service and responses was good.I was not getting the proper status update here so I am bit disappointed with the service .
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 27, 2018
    • Citibank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      My personal loan was taken with CITI bank. The precess was very good and the loan amount was 1.2 lakhs . The interest rate was satisfactory . The tenrue period was 1 year . The customer service and responses was up to the mark. They have sanctioned the loan with the committed time and the processing fee is also nominal.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 23, 2018
    • Citibank Personal Loan
      "Very good"
      0.5 4.0/5 "Great!"
      My personal loan was taken with CITI bank.. The loan process was very good and the loan mount was 1.5 lakhs which is satisfactory and the interest rate was good . The customer service and responses was up to the mark.They have sanctioned the loan on time.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 23, 2018
    • Citibank Personal Loan
      "On time Loan Process"
      0.5 4.0/5 "Great!"
      The Overall loan experience was good. The interest rate was little bit higher than compared to other banks. I have applied for 1 lakhs as loan amount. They charged me a interest of 12.5 and processing is 4%. I used to pay the EMI around of Rs. 9000. Totally its a average service from CITI bank.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 22, 2018
    • Citibank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      Got my personal loan from Citi bank where the rate of interest is promising one which is 11% . They gave tenure period of 4 years . There are some charges for processing fees . They approved the loan in 10 days . Overall, I am satisfied with the customer service and response .
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 22, 2018
    Common Loader Icon
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.