Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 1 Citibank Instant Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    11.49% - 15.99% Fixed
    0.5%
    30L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Ad
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews

    Citibank Instant Loan is Rated as "Great!" by 1871 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN

    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.

     Citibank Personal Loan Offers

    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.
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  • Citibank Instant Loan Reviews

    • Citibank Personal Loan
      "Response is good"
      0.5 5.0/5 "Blown Away!"
      Due to my personal reasons I could not proceed ahead for the loan with Citibank. I received a proper response and they provided all the details to me. They offered the least rate of interest in the market. It was around 10.99% and the processing charges were very much normal, especially when it comes to personal loan.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 24, 2017
    • Citibank Personal Loan
      "Satisfactory services"
      0.5 5.0/5 "Blown Away!"
      I did not go ahead with Citibank for the personal loan as I got a better offer from another bank. They were on time in the customer services and they informed me the details. The process was quick and in all it was a nice experience and hassle free.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 24, 2017
    • Citibank Personal Loan
      "Instant loan in 4 hours"
      0.5 5.0/5 "Blown Away!"
      As I am holding a Citibank salaried account, the entire loan process and the disbursement was done within 4 hours of time, which is really a super-fast process also I had received a very good service from CITI. I would say that I have got the best and a faster loan process , when compared with other banks. The rate of interest is low when compared with others. I am happy about the loan amount because the required loan amount has been disbursed on time.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 24, 2017
    • Citibank Personal Loan
      "Be more flexible in the terms and conditions"
      0.5 4.0/5 "Great!"
      Citibank contacted me on time for the personal loan and the team informed me the details about the process. The interest rate was normal and so was the processing charges. I did not take the loan from them because they had a one year lock in period to pre close the loan.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 24, 2017
    • Citibank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I had received the required cash through some other source that was the reason I didn't opt for CITIBANK personal loan. The customer service and the follow up was good with CITIBANK. The rate of interest is nominal with Citibank. Overall service, I am very much happy with CITI Bank services.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 24, 2017
    • Citibank Personal Loan
      "Its Excellent"
      0.5 5.0/5 "Blown Away!"
      Currently, I don't have requirements to take personal loan from Citi bank, that the reason I dropped the plan. CITI service is good, they offered me least interest rate of 10.99% but for preclosure there is a locker period of six months its should be lesser and they taking some charges of 3 to 5% for preclosure.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 23, 2017
    • Citibank Personal Loan
      "Unhappy with the services"
      0.5 1.0/5 "Really Bad"
      After me applying for a personal loan with Citibank, I received one call and there was an executive to come over and collect my documents. But no one came up to start the process. So I went ahead with another bank who was more responsive in giving me the loan.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 23, 2017
    • Citibank Personal Loan
      "Very good services"
      0.5 5.0/5 "Blown Away!"
      Citibank has been excellent in the personal loan experience. I was contacted on time and there was no documentation. I also received the loan on time and the after loan services are also perfect. The customer support has always been really good and helpful.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 23, 2017
    • Citibank Personal Loan
      "Interest rate should be reduced"
      0.5 4.5/5 "Excellent!"
      CITI Bank offered me the interest rate of around 13% it is higher side. Hence I have approached other bank, I got the better interest rate around 11.60% in other bank. But CITI bank contacted me on time for the loan process but I denied to go head because of interest rate.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jun 23, 2017
    • Citibank Personal Loan
      "Very good services"
      0.5 5.0/5 "Blown Away!"
      Since I changed my mind I did not go ahead for the personal loan with Citibank. There were too many calls, which upset me and I did not go ahead. The interest rate and processing charges was also a good deal overall. No hassles overall with the experience.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 22, 2017
    • Citibank Personal Loan
      "High on ROI"
      0.5 4.0/5 "Great!"
      Citibank was good in the response after I applied for the personal loan. I did not go ahead because they did not offer me the interest rate I was looking for. I needed a rate below 11% and the bank was offering a rate of 12%. The processing charges were high.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • Citibank Personal Loan
      "Need Improvement"
      0.5 4.0/5 "Great!"
      I didn't get the personal loan from CITIBANK. I got the call from Citibank executive in a day's time. They told me to submit the documents to the executives but no one turned up and finally I got a text from CITI saying that my personal loan application got cancelled. They haven't revealed the reason why they have cancelled my application. The rate of interest is high , when compared with others.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 22, 2017
    • Citibank Personal Loan
      "Response part has to be improved"
      0.5 1.0/5 "Really Bad"
      There was no response from CITI Bank, no body contacted me with regards to the loan process. In fact no one reached me to collect the documents. I had waited for a week then I have processed personal loan with some other bank. Compared to CITI service HDFC is the best.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 22, 2017
    • Citibank Personal Loan
      "Communication gap should be avoided"
      0.5 1.0/5 "Really Bad"
      I have not received any call from CITI Bank, Almost I have waited around two to three days. Even I didn't get any welcome call from CITI bank on the loan process. Then I applied to TATA Capital, they proceed the loan very quickly. Finally I got a call from CITI bank, at that time I have processed my loan with other institute.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 22, 2017
    • Citibank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I got a call related to the personal loan balance transfer from Citibank. I got confirmation from Hsbc that I can do a balance transfer after 1 year. The rate of interest is nominal with Citibank, which is comparable. So that was the reason I can't proceed with the Personal Loan with Citibank. I can say it was good service with Citibank.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 22, 2017
    • Citibank Personal Loan
      "Response part has to be improved"
      0.5 3.0/5 "Satisfactory"
      The bank have not contacted me on particular time, Hence I have taken loan from other institute. I waited around two days, there was no response then I got a call from CITI Bank but at the time I have processed my loan with some other financial institute.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 21, 2017
    • Citibank Personal Loan
      "Its Good"
      0.5 5.0/5 "Blown Away!"
      I got a better offer from AXIS, I felt preclosure option and processing fee is not good in CITI. They are taking 2% of processing fee for the loan closure and there is no part payment in CITI. Hence I took a personal loan from AXIS bank, but I am happy about CITI service is good.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 21, 2017
    • Citibank Personal Loan
      "Good Experience"
      0.5 4.0/5 "Great!"
      I already have a saving account with Citi bank, so their executive called me directly for the personal loan. They offered me good interest on loan. They came to my office and collected the papers. CITI bank disbursed the amount within four days. I took the amount of Rs.4 lakhs tenure of 2.5 years and my EMI is Rs.15,095. CITI bank has a locking period of one year, then I can close the loan by paying 2% of preclosure charges.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 21, 2017
    • Citibank Personal Loan
      "Loan process should be simple"
      0.5 3.5/5 "Pretty good"
      I had refused to process my personal loan with CITI bank, because they have asked me for the reference address, I felt the document process very inconvenient. They should make their documentation very simple and reference address detail should also be avoided.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 21, 2017
    • Citibank Personal Loan
      "Good Experience"
      0.5 4.0/5 "Great!"
      Previously I have taken personal loan from CITI bank, now it got closed and I got my NOC letter. They have done a fast loan process, and offered me nominal interest taken some reasonable processing fee from the disbursement. I am very happy of their service.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 21, 2017
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