Multiple banks. Different interest rates. Call it a "conflict of interest".
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  • Citibank Instant Loan Reviews

    • Citibank Personal Loan
      "Better"
      0.5 4.0/5 "Great!"
      I have not taken the personal loan with the CITI bank because I have got the better offer with other bankers. Response was good one with them and I don't have any issues on it. In future, I would like to go ahead with them.
      Was this review helpful? 0
      , new delhi
      Reviewed on Sep 25, 2017
    • Citibank Personal Loan
      "Good response and high on charges"
      0.5 4.0/5 "Great!"
      The response was very good at Citibank, just that my requirement changed and I did not take the personal loan. The team followed up on a daily basis. The interest rate was around 11.49% but the processing charges was extra when compared to the other banks.
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      , bangalore
      Reviewed on Sep 25, 2017
    • Citibank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      Citibank has promised a interest and they failed to approve the loan with the same interest rate,so that was the reason I haven't got the loan from Citibank. The customer service is good with Citibank. The promises need to be fulfilled with Citibank.
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      , new delhi
      Reviewed on Sep 25, 2017
    • Citibank Personal Loan
      "Its Good"
      0.5 3.0/5 "Satisfactory"
      I am quite happy with Citi bank, they offered me nominal interest rate as per the market. But I Just gave inquiry to the Citi bank to check their offers. Now I don't have any requirement to take loan right now therefore I proceed with CITI Bank..
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      , new delhi
      Reviewed on Sep 25, 2017
    • Citibank Personal Loan
      "Not consisten in ROI"
      0.5 3.0/5 "Satisfactory"
      After me applying at Citibank for a personal loan, they contacted me once for it. I did not go ahead is because, I was initially informed around 13% as interest rate and later I was offered 15%. So I went ahead with another bank and declined this application.
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      , hyderabad
      Reviewed on Sep 25, 2017
    • Citibank Personal Loan
      "Good"
      0.5 3.0/5 "Satisfactory"
      My personal loan was taken with CITI bank 3 years back. My loan amount was 65,000 and the EMI period was 36months for it but the rate of interest was 16 % which is really high and not satisfactory. The personal loan process was very good here . They have just taken 2-3 days for the process and sanctioned the loan with the committed time. My overall experience was good.
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      , kochi
      Reviewed on Sep 25, 2017
    • Citibank Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      My credit score was low so that was the Citibank has closed my personal loan application. They have explained me about the product and then I have informed them that my credit score is low then they have informed me back that credit score is not meeting their eligibility criteria. The rate of interest sis nominal with Citibank.
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      , hyderabad
      Reviewed on Sep 25, 2017
    • Citibank Personal Loan
      "Below Average service"
      0.5 2.0/5 "Expected more"
      The Citibank was about to offer me 4lakhs but I had requirement for more than 5.50lakhs , there was no fore closure. Part payment option available in their Personal Loan process. Based on the customer requirement Citibank has to approve the loan. The customer service provided by Citibank is poor. They are not fulfilling the customer requirement.
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      , chennai
      Reviewed on Sep 25, 2017
    • Citibank Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      The Citibank executives has told that they can give the loan within the turn around time but they never turned up after 15days time they gave a cal and asked me to submit the documents, Then they have told that the chosen offers was not available , so that was the reason I haven't got the personal loan from Citibank. The rate of interest is high when compared with others. The promises need to be fulfilled by Citibank.
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      , bangalore
      Reviewed on Sep 24, 2017
    • Citibank Personal Loan
      "Below Average service"
      0.5 1.0/5 "Really Bad"
      Citibank haven't gave proper response in regards to my personal loan application. The response part need to be improved with Citibank. The rate of interest whcih they have offered was nominal with Citibank. I would say they have given below average service.
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      , pune
      Reviewed on Sep 24, 2017
    • Citibank Personal Loan
      "Approchable Bank"
      0.5 4.0/5 "Great!"
      As i got the required amount from my friend i thought not to take loan from CITIBANK. The bank and their service is still up to the norms. Actually at the time of my application every thing was fine with the bank and the gave me a proper response.Since i got it from another way i thought i will consider the bank later if needed.
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      , hyderabad
      Reviewed on Sep 24, 2017
    • Citibank Personal Loan
      "Average service"
      0.5 2.0/5 "Expected more"
      The Citibank haven't gave proper response in my required time. The way they handle the customer is very bad with Citibank. The rate of interest is nominal which they have offered in concern to my personal loan application. The response part need to be improved with Citibank.
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      , hyderabad
      Reviewed on Sep 24, 2017
    • Citibank Personal Loan
      "Not flexible for payment"
      0.5 4.0/5 "Great!"
      With CITIBANK i have applied for a personal loan. They told that i need to pay the EMI by 1st of every month. But i receive my salary only on 5 of every month. i requested to change the EMI date for me but the executive did not consider my request. If they payment was flexible i would have taken the loan.
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      , bangalore
      Reviewed on Sep 24, 2017
    • Citibank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I had applied for a personal loan with Citibank and I haven't got it because I have arranged the required amount from the others source. The customer service had just gave a call and explained me about the product but I have informed them that there is no low requirement . The rate of interest is nominal with Citibank when compared with others.
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      , mumbai
      Reviewed on Sep 24, 2017
    • Citibank Personal Loan
      "Average "
      0.5 3.0/5 "Satisfactory"
      It was a average experience with Citibank customer service. The document collection was not okay as they were not willing to collect it from my home and the kept calling me at least 25 times to collect it from work. The interest rate and processing charges was also average on the personal loan.
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      , chennai
      Reviewed on Sep 24, 2017
    • Citibank Personal Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      The process was good at Citibank for the personal loan. I got the loan within five days. It was that quick as I am privileged customer of the bank. The interest rate was okay. Not sure how much it is and the processing charges was normal. I had taken this loan in 2006
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      , new delhi
      Reviewed on Sep 23, 2017
    • Citibank Personal Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I have not taken my personal loan from CitiBank. The services are good from them. The process was easy. The bank seen to be fine but I have postponed from my end I have plan of taking after two months but they need to work on there documentation part, They also offered a normal rate of interest and processing charges.
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      , new delhi
      Reviewed on Sep 23, 2017
    • Citibank Personal Loan
      "Good experience"
      0.5 4.0/5 "Great!"
      I have taken my salary account with CITI bank and I am using it for about 6 years. My present company does not have tie up with CITI bank for salary account so I have converted my salary account to saving account since all my EMI's and bills are linked to this account. Here the minimum balance to maintain my saving account is 2 lakhs .which was very disappointing and high.
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      , bangalore
      Reviewed on Sep 23, 2017
    • Citibank Personal Loan
      "Good experience"
      0.5 3.0/5 "Satisfactory"
      I have approached CITI bank for my personal loan. They have rejected my application since I have taken loan with them already and they have asked me approached after completing 7-8months installment and get back to start my personal loan process. Their rate of interest was 14% which was high. However I am satisfied with their responses and customer service .
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      , bangalore
      Reviewed on Sep 23, 2017
    • Citibank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I just want to get a loan transfer from Bajaj so that was the reason I was looking for he personal loan from Citibank, but then based on the bank norms I was not eligible to get the loan from Citibank,. The customer service was good with Citibank and they gave prompt response. The rate of interest is nominal with Citibank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 23, 2017
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    Citibank Instant Loan is Rated as "Great!" by 2217 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.
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