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 1937 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.

    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.
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  • Citibank Instant Loan Reviews

    • Citibank Personal Loan
      "Very good service"
      0.5 4.0/5 "Great!"
      I got the personal loan within 55 hours of time from Citibank. They have disbursed the loan after submitting my documents. The customer service and the response with CITIBANK is average. The required loan amount has been disbursed. The rate of interest is low when compared with others. I am satisfied with the Citibank service.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jul 25, 2017
    • Citibank Personal Loan
      "Rate of interest can be decreased in future"
      0.5 4.5/5 "Excellent!"
      I didn't have any kind of relationship with Citibank so far but I have applied personal loan with Citibank for the first time and I found that they were offering the loan with high rate of interest, so that was the reason I haven't got the loan with CITIBANK. The customer service and the response was good with Citibank.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 25, 2017
    • Citibank Personal Loan
      "Good "
      0.5 3.0/5 "Satisfactory"
      The personal loan process followed by CITI Bank was really good. The response was very much quick and I was given the necessary details. I did not take the loan as I got to arrange the funds within my friends circle. The interest rate and processing charges was very much normal.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 23, 2017
    • Citibank Personal Loan
      "High on ROI"
      0.5 5.0/5 "Blown Away!"
      I did not take the personal loan from Citibank, because the bank was high on the rate of interest when compared to other banks. The interest rate was around 15%. The customer services and response was good and on time. They are not recommendable for this interest rate.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 23, 2017
    • Citibank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      Due to my personal reasons, I did not go ahead for the personal loan at Citibank. The services and response is good. They contacted me on time and informed me the details. I do not want to rate them on the interest rate and charges as I did not take the loan from them.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 23, 2017
    • Citibank Personal Loan
      "Overall a good experience"
      0.5 5.0/5 "Blown Away!"
      I could not go ahead with Citibank for the personal loan because they contacted me only once and after which there was no follow up. I would still give them five stars because they are overall good, I am an existing customer. The interest rate and charges were very much normal.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 23, 2017
    • Citibank Personal Loan
      "Personal Loan process from citibank, as it is highly charged"
      0.5 1.0/5 "Really Bad"
      I hate taking loan from Citibank, also I will try to drop all my transactions that I make with citibank. Please avoid citibank banking. They will highly charge you when you are in need. I have been using citibank since 5 years once I need a loan and went for credit card loan they charged me 6 % more from outside market. i don't have options at that time so I was forced to take it. I closed the loan in 3 months due to high interest rate.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 22, 2017
    • Citibank Personal Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      Citibank contacted me only once and collected my details. After which I got no calls from them for the personal loan. It was a complete average experience. So I went ahead with another bank for the loan. Not sure on the rate of interest and processing charges.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 22, 2017
    • Citibank Personal Loan
      "Not professional"
      0.5 1.0/5 "Really Bad"
      As a matter of fact, Citibank collected all my documents and after which they did not process my personal loan request and did not get back to me as well. It was not a very good experience as they were not very much professional. Not too sure on the interest rate and processing charges too.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 20, 2017
    • Citibank Personal Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I haven't proceed with Citibank personal loan, because of their interest rate and I got the best interest rate with SBI. The customer service and the response is good with Citibank. The rate of interest need to be reduced with Citibank. I would say CITI bank gave average service.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 19, 2017
    • Citibank Personal Loan
      "Good but needs improvement"
      0.5 5.0/5 "Blown Away!"
      I haven't got the loan from Citibank, because of the procedural delay, so that was the reason I haven't choose Citibank. The customer service sand the response need to be quick with Citbank, The rates are best with Citi as per the market. The rate of interest is low when compared with others.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 19, 2017
    • Citibank Personal Loan
      "Better service"
      0.5 4.0/5 "Great!"
      I have informed the Citibank executive that I need 10.5 % interest rate but they were not ready to offer the loan with the low rate of interest, so that was the reason I haven't got the personal loan with Citibank . The customer service and the response is really good with Citibank.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 18, 2017
    • Citibank Personal Loan
      "Need to be customer centric"
      0.5 3.0/5 "Satisfactory"
      I have approached Citibank for my personal loan but there interest rate is too high when compared with others and they don't have 5years of tenure for the loan. The tenure time is very low so that was the reason I haven't got the personal loan with CITIBANK. The response was good with Citibank.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jul 18, 2017
    • Citibank Personal Loan
      "Its Average"
      0.5 1.0/5 "Really Bad"
      I got en number of calls from CITI Bank, many executives contacted me and asked about the same information but none gave me correct information about the loan. They were not clear in their process, finally I got a mail from them stating my loan application has been closed.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 13, 2017
    • Citibank Personal Loan
      "Looking out for the better service"
      0.5 1.0/5 "Really Bad"
      CITI haven't responded at all for four to five days on loan request, due to emergency I went for the personal loan. But they didn't give any response . That is the disappointed part, then I got the loan from other financial institute. Being world class bank I didn't expect this from CITI.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 13, 2017
    • Citibank Personal Loan
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      My personal loan is under progress with Citi bank. Actually I approached Indusind bank for the loan, but Indusind did not process my application because they said that my company is not a listed one. But Citi bank accepted my application and they are doing really well.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 13, 2017
    • Citibank Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      When I applied for the personal loan, customer executive from CITI bank did not call me on time I am not happy with their service, because they are not transparent in loan process the loan amount I had applied for 3.5 lakhs. I am not sure when they had called me, over all from my perspective it was not okay.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 12, 2017
    • Citibank Personal Loan
      "High Interest Rate"
      0.5 1.0/5 "Really Bad"
      Citi bank quoted a very high interest rate for the personal loan. I asked the bank to reduce the rate of interest but the bank was not ready and did not convince to reduce the interest rate. Hence I did not take the loan and I had cancelled the application. Response was good at the time when I applied for the loan.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jul 12, 2017
    • Citibank Personal Loan
      "High Interest Rate"
      0.5 5.0/5 "Blown Away!"
      Citi bank provided a good response for the personal loan but the interest rate is bit higher than the other banks in the market. Hence I cancelled my personal loan application. Other than interest rate, I had no issues with the bank for the loan process.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 12, 2017
    • Citibank Personal Loan
      "Its Excellent"
      0.5 5.0/5 "Blown Away!"
      I am planning to take personal loan from CITI bank next month, I am very much satisfied with them. I got a call from bank, I informed their executive to get back next month. CITI bank offered me 11.99% of interest and also they ready to approve the amount 4.5 lakhs. To conclude, I am very much happy with their service.
      Was this review helpful? 0
      , pune
      Reviewed on Jul 12, 2017
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