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  • Citibank Instant Loan is Rated as "Great!" by 2788 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
      "Charges should be reduced"
      0.5 5.0/5 "Blown Away!"
      I took personal loan based on credit card transaction, immediately they have disbursed amount to my account. But interest rate is higher than other bank. I am not happy with preclosure charges. For my first loan I paid Rs.25,000 extra as a processing fee.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 13, 2018
    • Citibank Personal Loan
      "Not satisfactory"
      0.5 2.0/5 "Expected more"
      They have not even ready to reduce the interest rate. Through app, i have approached for the personal loan since its an immediate requirement there is no option for a negotiating the interest rate. I have got a loan within a day. I have got the loan amount of Rs. 3 lakhs. The customer care service is not good. They have charged me Rs. 7000 around as a processing fee.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 13, 2018
    • Citibank Personal Loan
      "Its Better"
      0.5 4.0/5 "Great!"
      CITI Bank loan taken long time to process my loan and when I approved for the personal loan they didn't tell about the charges. Finally they debited few amount from the disbursement amount. I am not sure about the charges, I am fine with the loan.
      Was this review helpful? 3
      , chennai
      Reviewed on Nov 05, 2018
    • Citibank Personal Loan
      "Its Good"
      0.5 4.0/5 "Great!"
      Compared to other bank I got less interest rate in CITI Bank for the personal loan. But they have taken minimal processing fee from the disbursement. The process was easy, the documentation was easy, they collected my papers on time there was no issue.
      Was this review helpful? 2
      , bangalore
      Reviewed on Nov 05, 2018
    • Citibank Personal Loan
      "Process is good"
      0.5 4.0/5 "Great!"
      Citibank is good in the personal loan process. The customer support and response is good. There are no hassles in getting the loan. The rate of interest is on the higher side and the processing charges too. The overall process is good overall.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 01, 2018
    • Citibank Personal Loan
      "Best In Need"
      0.5 5.0/5 "Blown Away!"
      The best part here is that if you are in need , Citi bank understands it and you get you loan approved instantly without any delay. My application was processed on time and even the rate of interest are reasonable here. Over all i am pretty much happy the way things moved here.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 01, 2018
    • Citibank Personal Loan
      "Poor services"
      0.5 1.0/5 "Really Bad"
      My personal loan was taken with CITI BANK , my experience is too bad with this bank . I am not satisfied with loan amount also . Customer support is not up to the mark and even the service is too bad with this bank . The processing fee is 7000 and it is too high .
      Was this review helpful? 0
      , mumbai
      Reviewed on Oct 24, 2018
    • Citibank Personal Loan
      "EXCELLENT SERVICE"
      0.5 5.0/5 "Blown Away!"
      I am using the personal loan with the CITI BANK from last 1.5 years. The experience is very good and the mode of payment is also good with this bank. There is no partial payment to do pre closer apart from that customer support is good also the rate of interest is nominal.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 24, 2018
    • Citibank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It was completely a good experience i had with them with this personal loan where the loan amount which they had provided had been satisfactory. The interest rate with them has been nominal and there has not been any sort of additional charges which had been made by them. Even their customer support had been helpful as well.
      Was this review helpful? 4
      , pune
      Reviewed on Oct 12, 2018
    • Citibank Personal Loan
      "BEST SERVICE"
      0.5 5.0/5 "Blown Away!"
      I had taken my personal loan with CITI BANK , they charge nominal rate of interest and tenure period was 4years . The loan amount is satisfactory with this bank . I ask pretty less loan amount but they gave high so i am happy with that . It has been a smooth banking experience with the CITI BANK in all .
      Was this review helpful? 1
      , chennai
      Reviewed on Oct 07, 2018
    • Citibank Personal Loan
      "Satisfactory"
      0.5 4.0/5 "Great!"
      Citibank has also offered me a personal loan and the process to get the loan was smooth and easy. The customer support is good and they were responsive as well. I received the loan on time and the rate of interest and processing charges are normal.
      Was this review helpful? 7
      , bangalore
      Reviewed on Sep 28, 2018
    • Citibank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had chosen to go with them since the interest rate with them has been very low with them and the process in getting this loan had been smooth and easy. The loan amount had been satisfactory and there has not been any sort of additional charges which they had been making so far. Their customer support also had been responsive and had been helpful at times.
      Was this review helpful? 2
      , new delhi
      Reviewed on Sep 27, 2018
    • 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? 5
      , 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? 2
      , 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
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