Multiple banks. Different interest rates. Call it a "conflict of interest".
Multiple banks. Different interest rates. Call it a "conflict of interest".
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  • Citibank Instant Loan is Rated as "Great!" by 2575 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
      "Best"
      0.5 5.0/5 "Blown Away!"
      I have closed the personal loan with the CITI bank and I am not aware of their interest rate. I would like to say that the customer service is really good one for me and I have not faced any hiccups on it.
      Was this review helpful? 2
      , new delhi
      Reviewed on Dec 15, 2017
    • Citibank Personal Loan
      "Best banking"
      0.5 4.0/5 "Great!"
      I have applied for a personal loan with CITI bank.They have immediately processed the request within 2 days.I have submitted documents, the loan amount is 10 lakhs,rate of interest is nominal compared to others.Net banking is working fine.
      Was this review helpful? 1
      , gurgaon
      Reviewed on Dec 12, 2017
    • Citibank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with Citi bank. I had sanctioned the expected amount which is 95,000,rate of interest is nominal when compared to other banks.I was asked to submit documents and they had processed it immediately as far as the website is concerned it is easy to use..
      Was this review helpful? 1
      , new delhi
      Reviewed on Dec 12, 2017
    • Citibank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with Citi bank.The loan amount is 6.69 lakhs,rate of inert is 12.24% is nominal compared to other banks.They had deducted processing fees of .5% from the loan amount.The tenure is for 60 months,submitted documents to process the loan.
      Was this review helpful? 1
      , chennai
      Reviewed on Dec 12, 2017
    • Citibank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with Citi bank.The loan amount is 6.69 lakhs,rate of inert is 12.24% is nominal compared to other banks.They had deducted processing fees of .5% from the loan amount.The tenure is for 60 months,submitted documents to process the loan.
      Was this review helpful? 1
      , chennai
      Reviewed on Dec 12, 2017
    • Citibank Personal Loan
      "Very good service"
      0.5 4.0/5 "Great!"
      I have taken a personal loan with CITI bank.The loan amount is 10 lakhs,rate of interest is 10.99% low as compared to other banks.They have quickly processed the request on time.They have deducted minimum amount of processing fees.The net banking and Mobile App is good.
      Was this review helpful? 2
      , new delhi
      Reviewed on Dec 11, 2017
    • Citibank Personal Loan
      "Excellent banking"
      0.5 5.0/5 "Blown Away!"
      I have applied for a personal loan with CITI bank,it was approved with limit of 3.9 lakhs,Rate of interest is 12.99% nominal as compared to other banks.They had immediately responded for the request but they took 2 weeks to complete as there was a delay from my end.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 11, 2017
    • Citibank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My personal loan application was approved with CITI bank and the experience was quite good. The process was very smooth and easy, my loan amount was approved within 1 week. Customer service was fine, there were no issues with them and they followed up correctly. They provided door step service to collect the documents. The rate of interest of 11.5% is nominal when compared to other banks.
      Was this review helpful? 0
      , mumbai
      Reviewed on Dec 08, 2017
    • Citibank Personal Loan
      "Great Experience"
      0.5 5.0/5 "Blown Away!"
      I like the CITI BANK service. They called me on time, everything was good. The response was fast. The rate of interest was not high compared to other banks. The disbursement was on time. The documents are collected at doorstep. The part payment and pre closure options are average.
      Was this review helpful? 0
      , new delhi
      Reviewed on Dec 08, 2017
    • Citibank Personal Loan
      "Very good"
      0.5 4.0/5 "Great!"
      My personal loan was taken with CITI Bank. The loan amount was 1.23 lakhs and the interest rate was 12% which was average in the market. They have sanctioned the loan with the committed time and the pre closer is after 1 years. My experience was very good here.
      Was this review helpful? 1
      , bangalore
      Reviewed on Dec 08, 2017
    • Citibank Personal Loan
      "Very good"
      0.5 4.0/5 "Great!"
      My personal loan was taken with CITI Bank. He loan amount was 1.23 lakhs and the interest rate was 12% which was average in the market. They have sanctioned the loan with the committed time and the pre closer is after 1 years. My experience was very good here.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 08, 2017
    • Citibank Personal Loan
      "Not good"
      0.5 3.0/5 "Satisfactory"
      I have my personal loan with CITI bank . The process was not that good since they have taken a week of time for disbursing the loan amount even after the continuous followups.I have taken 10 lakhs and the interest rate was 11% which was bit high than other banks.
      Was this review helpful? 0
      , pune
      Reviewed on Dec 08, 2017
    • Citibank Personal Loan
      "Excellent service"
      0.5 4.5/5 "Excellent!"
      Citi personal loan service was good ,the interest rate was reasonable by compared to the market value also the process was very fast with citi personal loan department and the customer support was good ,I am very much happy with the service of citi personal loan service.
      Was this review helpful? 0
      , chennai
      Reviewed on Dec 08, 2017
    • Citibank Personal Loan
      "Very good"
      0.5 4.0/5 "Great!"
      I have taken1 lakh personal loan with CITI Bank . The tenure period was 3 years and the interest rate was 10.99% which was satisfactory . The customer service and responses was up to the mark. They have sanctioned the loan with the committed time and they have provided door step service for collecting document .
      Was this review helpful? 1
      , mumbai
      Reviewed on Dec 07, 2017
    • Citibank Personal Loan
      "Excellent"
      0.5 4.5/5 "Excellent!"
      I have my personal loan with CITI bank 5.69 lakhs and the interest rate was 13.25%. The tenure period was 5 years . The loan process was good and smooth. They have sanctioned the loan with the committed time and the processing fee was nominal .
      Was this review helpful? 1
      , bangalore
      Reviewed on Dec 07, 2017
    • Citibank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      My personal loan application was approved with CITI bank and it was a good experience overall. When it comes to customer service, it was good and they responded on time, documents were collected door step. The process was quite smooth and it took 1 week for the loan amount to get approved.The rate of interest was nominal when compared to other banks.
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Dec 07, 2017
    • Citibank Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I have applied for the personal loan from CITI bank, my loan application was approved but the requested amount was not disbursed. I have requested loan for Rs 10 lakhs but they approved loan only for Rs 9.86 lakhs. The process was not good at the initial stage as there was too much of bargaining done and too many terms and conditions. I paid 0.5% excess for processing fee whereas i am supposed to pay only 2.25%. Customer service part was good, they provided door step service to collect the documents. The process was smooth and the loan amount was approved within the given time.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 07, 2017
    • Citibank Personal Loan
      "Best banking"
      0.5 4.0/5 "Great!"
      I have taken a personal loan with Citi bank the loan amount is there lakhs,rate of interest is high as compared to other banks.The executives shared the complete details of the loan.They took almost 20 days to complete the process.Its hassle free banking with them.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 07, 2017
    • Citibank Personal Loan
      "Not bad"
      0.5 3.0/5 "Satisfactory"
      I have my personal loan with CITI bank. The loan process was bit slow . They have taken much time and I have followed 10-15 days of time for the approval. The loan amount was 2 lakhs and the interest rate was 12.99% which was average in the market . They have provided door step service for collecting documents and the processing fee was also very much nominal.
      Was this review helpful? 0
      , pune
      Reviewed on Dec 07, 2017
    • Citibank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with CITI bank.The loan amount is 5.85 lakhs ,Rate of interest is low as compared to others.The process was very quick and they completed within few days,i am happy about the service.Net banking is convenient to use.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 07, 2017
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