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  • Citibank Instant Loan is Rated as "Great!" by 2630 Users
    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 4.0/5 "Great!"
      I have my personal loan with CITI bank .The loan amount was2 lakhs and the tenure period Interest rate was 12.99% which is average in the market. The tenure of the loan was 3 years . The loan process was good and easy . They have provide door step serve for collecting documents. My overall experience was good.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 17, 2018
    • Citibank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with CITI bank. The loan amount was 1.96 lakhs and the Interest rate was 12.99%which is average in the market .The tenure period was 1 year . The loan process was very good and they have sanctioned the loan with the committed time.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 15, 2018
    • Citibank Personal Loan
      "Very good experience"
      0.5 4.5/5 "Excellent!"
      It was a superb experience with Citi Bank on my personal loan. The rate of interest was 10.89 but I preferred around 10%. They charged me a processing fee around 0.2%. They took 3 to 4 days for the disbursement. The documents are collected at my doorstep.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 14, 2018
    • Citibank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      Rate of interest was around 12.75% for the personal loan with the CITI bank and the customer service were good one for me. Processing charges were not sure up to the committed one. Everything is better one for me with the CITI bank personal loan.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Feb 14, 2018
    • Citibank Personal Loan
      "Perfect service"
      0.5 5.0/5 "Blown Away!"
      As I hold the salaried account from the CITIBANK, they have approved my personal loan application instantly , it was a hassle free service which I got from the CITIBANK. The required loan amount has been given and I am satisfied with it. The rate of interest and the charges are quite high but I am fine with it.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 14, 2018
    • Citibank Personal Loan
      "Average service"
      0.5 4.0/5 "Great!"
      I have got the personal loan from the CITIBANK around 7 years ago, the service which I got from CITIBANK was average.The hidden charges were there, they have increase the loan tenure as well. The transparency is not seen in the process. The rate of interest and the charges were high with the CITIBANK.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 14, 2018
    • Citibank Personal Loan
      "Best"
      0.5 4.5/5 "Excellent!"
      Interest rate was around 12.99% for the personal loan with the CITI bank, which was on higher end for myself. I would like to say that the customer service was good one for me with them. It took around seven days of time to get the loan amount.
      Was this review helpful? 0
      , pune
      Reviewed on Feb 13, 2018
    • Citibank Personal Loan
      "Fast process"
      0.5 5.0/5 "Blown Away!"
      I had taken a personal loan from Citibank earlier. The process was very fast and I got the funds in my account in a days time. This loan was done without any documentation. The rate of interest is very high. It is of 14% and the processing charges are also high.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 09, 2018
    • Citibank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have applied for a personal loan with CITI bank,the loan amount is two lakhs,rate of interest is on a diminishing basis.They had deducted processing fees ad foreclosure charges is applicable of 3% from the outstanding principal amount.The tenure is for 24 months.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 09, 2018
    • Citibank Personal Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      Citi Bank has offered me a good interest rate for the personal loan. They charged minimal processing fee. I have applied for 5L and received the same amount. They have sanctioned the loan on committed time. They provided a doorstep service for documentation.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Feb 08, 2018
    • Citibank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I took my personal loan with Citi Bank through online channel. I am satisfied with the interest rate. The process was immediate and documents are collected at doorstep. I took 1.2L with the tenure period of 1 year. There is no part payment and pre closure option.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Feb 08, 2018
    • Citibank Personal Loan
      "Exception service "
      0.5 5.0/5 "Blown Away!"
      I have got the personal loan with the CITI bank and I have settled everything and the services are good one for me. I would like to say that the response was fine one for me with them. Everything is better one for me with the CITI bank.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 07, 2018
    • Citibank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      Citi Bank has provided a faster service. I am completely satisfied with the rate of interest and the service. They offered me 10L and EMI duration is 4 years. They have sanctioned the loan on committed time. The executive came to my office and collected the documents.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 07, 2018
    • Citibank Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      The personal loan process was good with Citi Bank. They offered a nominal interest rate and compared to others it was low. They charged a processing fee. The executive came to my place and collected the documents. They took a week's time to disburse the loan.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 06, 2018
    • Citibank Personal Loan
      "Good service"
      0.5 4.5/5 "Excellent!"
      The Citibank has approved and disbursed my personal loan amount within 4 days of time. The documentation process was very good with the Citibank . The required loan amount was approved and I am satisfied with it. The rate of interest and the charges are average with the Citibank personal loan services.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 06, 2018
    • Citibank Personal Loan
      "Average service"
      0.5 4.0/5 "Great!"
      I have applied for the personal loan to Citibank and they told that they are going to send their executives to collect the documents , but there was no response from the bank end , so that was the reason I haven't got the personal loan from the Citibank.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 05, 2018
    • Citibank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The Citibank has rejected my personal loan application for no reason and they are not disclosing the reason as well. The customer support gave me good response in regards to my personal loan application. As per me the rate of interest and the charges are high with the Citibank.
      Was this review helpful? 0
      , pune
      Reviewed on Feb 05, 2018
    • Citibank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      After applying for the personal loan in citibank , they can't approve the personal loan because of the bank norms. The customer support was prompt in their response and they were good in their follow up part. The service which I got from the Citibank was good.
      Was this review helpful? 0
      , pune
      Reviewed on Feb 01, 2018
    • Citibank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      After applying for the personal loan in citibank , they can't approve the personal loan because of the bank norms. The customer support was prompt in their response and they were good in their follow up part. The service which I got from the Citibank was good.
      Was this review helpful? 0
      , pune
      Reviewed on Feb 01, 2018
    • Citibank Personal Loan
      "To my expectation"
      0.5 5.0/5 "Blown Away!"
      Citibank has also offered me a personal loan and the process to get this loan was easy. I did not face any issues being an existing customer. The documentation was simple and I am also okay with the rate of interest and processing charges. It was reasonable.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 31, 2018
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