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  • Citibank Instant Loan is Rated as "Great!" by 2776 Users

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    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
      "Satisfactory"
      0.5 3.5/5 "Pretty good"
      My personal loan was taken with CITI bank 4 months back. The loan amount was 1,20,000 and the interest rate was very high . The customer service and responses was good. I have faced some difficult and they even detected some amount also. The processing fee was nominal.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Sep 20, 2018
    • Citibank Personal Loan
      "GOOD SERVICE"
      0.5 4.5/5 "Excellent!"
      My personal loan was taken with CITI BANK , the tenure period is 1.5year . Customer support and their follow up is good , i can connect them easily . They charge 14% rate of interest with this bank . I did not face nay issue at the time of getting loan and even at time of documentation .
      Was this review helpful? 1
      , gurgaon
      Reviewed on Sep 17, 2018
    • Citibank Personal Loan
      "AVERAGE"
      0.5 4.0/5 "Great!"
      I got my personal loan through CITI BANK , the tenure period is 2year . The process getting the loan is quick it just take 25 days and it was very smooth i did not face issue with them . The loan amount is 3.5 lakh and it is sufficient to me and processing fee is free with this bank .
      Was this review helpful? 1
      , new delhi
      Reviewed on Sep 16, 2018
    • Citibank Personal Loan
      "Process is nice"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from Citibank and the process to get the loan is good and smooth. The customer services and response is good and the documentation process is satisfactory too. The after loan services are good and the interest rate and charges is fine too.
      Was this review helpful? 1
      , greater noida
      Reviewed on Sep 14, 2018
    • Citibank Personal Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      My personal loan was taken with CITI BANK , the rate of interest is 11.2% it is nominal in the market and the loan amount is sufficient to me . There is processing fee is but it will be waive off. The tenure period is 1year ,but there is no preclosere option . The loan amount is Little delayed .
      Was this review helpful? 1
      , bangalore
      Reviewed on Sep 14, 2018
    • Citibank Personal Loan
      "Good service"
      0.5 4.5/5 "Excellent!"
      My personal loan application was approved with CITI bank and the experience was very good, the loan amount was for Rs 12 lacs for 1 year with nominal interest rate. The process took more than 20 days to complete and the customer service was good with CITI bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 12, 2018
    • Citibank Personal Loan
      "EXCELLENT"
      0.5 4.0/5 "Great!"
      I have taken personal loan through CITI BANK , the tenure period is 16month . I did no face any issue while getting the loan , i receive my loan amount on time , there is no processing fee with this bank and rate of interest is 11.5% and it is nominal in the market. Customer support is up to the mark .
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 12, 2018
    • Citibank Personal Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      My personal loan amount was taken with CITI BANK , the customer support is excellent with this bank , i can connect them easily with them . The tenure period is 4year and loan amount is up to the mark . They provide interest rate with 11.75% initially the said 11.05% so i am not happy with interest rate .
      Was this review helpful? 0
      , pune
      Reviewed on Sep 12, 2018
    • Citibank Personal Loan
      "Nice experience"
      0.5 4.0/5 "Great!"
      My personal loan is with Citibank and the experience is good and there are no hassles in the process. The loan was processed on time as well. The rate of interest is around 12% and the processing charges was zero. The overall customer services and response is good.
      Was this review helpful? 2
      , pune
      Reviewed on Sep 10, 2018
    • Citibank Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from CITI bank and my experience was good, the loan amount was for Rs 2.34 lacs with nominal interest rate when compared to other banks. The process was smooth and i received my loan amount on time. Customer service was good and they responded on time. The tenure period for this loan is 4 years.
      Was this review helpful? 1
      , new delhi
      Reviewed on Sep 05, 2018
    • Citibank Personal Loan
      "Hassle free"
      0.5 4.0/5 "Great!"
      I have also taken a personal loan from Citibank. The customer services and response is good. There was a slight delay in the process, but it is manageable. The loan was provide as per my requirement. In all a good experience, it could have been more sooner.
      Was this review helpful? 2
      , bangalore
      Reviewed on Sep 04, 2018
    • Citibank Personal Loan
      "Average Service"
      0.5 2.5/5 "Just OK"
      I've taken a personal loan from CITI bank. The experience was not that great, I had to follow up a lot. The interest rate is fine. The whole process was irritating. I got the loan amount with in 20 days.
      Was this review helpful? 0
      , mumbai
      Reviewed on Aug 31, 2018
    • Citibank Personal Loan
      "AVERAGE"
      0.5 4.0/5 "Great!"
      My loan amount was taken with CITI BANK , the services is not so satisfactory because even though i have salary account with citi bank they as me so much of documents at the time of providing loan , so it took so long time . My loan amount is satisfactory and rate of interest is 11.24% . There have charged processing fee but it will be waive off .
      Was this review helpful? 1
      , bangalore
      Reviewed on Aug 30, 2018
    • Citibank Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      It was a good experience with CITI bank for personal loan, the loan amount was based on my requirement and the rate of interest was nominal when compared to other banks. Customer service was good and they responded on time. The tenure period was 4 years and they charge 3% for preclosure charges.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Aug 30, 2018
    • Citibank Personal Loan
      "Fast and easy service"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan from CITI BANK , the services and the process was excellent with this bank and i did not face nay issues at the time of documentation . Rate of interest is nominal in the market and tenure period is 5year . There is option of preclosere .
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 30, 2018
    • Citibank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a personal loan with CITI bank and my experience was good, the loan amount was for Rs 5 lacs with nominal interest rate when compared to other banks. Customer service was good and they responded on time. Tenure period is 4 years and they charge 4% of principal amount for preclosure.
      Was this review helpful? 1
      , kolkata
      Reviewed on Aug 28, 2018
    • Citibank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have my application for personal loan approved with CITI bank, the process was smooth and i received my loan amount on time. The loan amount was for Rs 3.5 lacs for 4 years with nominal interest rate in the market. Customer service was good and they responded on time.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Aug 27, 2018
    • Citibank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My experience for personal loan with CITI bank was good, the loan amount was for Rs 1.3 lakhs with the tenure period of 1 year. The process was smooth and i received my loan amount on time. Customer service was good and they followed up on time. The rate of interest was nominal when compared to others.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 27, 2018
    • Citibank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have taken my personal loan with CITI bank.The loan process was very good and satisfactory . I have taken 10 lakhs and the interest rate was also average . The tenure period was 5 years. There is no processing fee at all and there is no issues faced with the process .
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 27, 2018
    • Citibank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have take my personal loan with CITI bank. I had a good process and there is no delay at all. The customer service and responses was very good. The loan amount was 5 lakhs and the interest rate was satisfactory . The EMI period was 2 years . The pre closure is allowed after 1 year and the processing fee was also very much nominal.
      Was this review helpful? 1
      , new delhi
      Reviewed on Aug 27, 2018
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