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

    We found 1 Citibank Instant Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    10.99% - 15.99% Fixed
    1% to 2.5%
    30L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1000 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 "Excellent!" by 1736 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.

    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
      "Good Service"
      0.5 4.0/5 "Great!"
      CITI bank rate of interest is 11.49%, but the loan process is not upto the mark. I had followed up with them for past four weeks. I kept calling them to check the status of loan, they had delayed from there side stating that I had existing loan running from the same bank and they had some dispute on it and they where saying me to to do the top up the loan last on they said they cannot process they loan which i asked for, Later very next day I received called from them again they said they can process the loan,
      Was this review helpful? 0
      , new delhi
      Reviewed on May 18, 2017
    • Citibank Personal Loan
      "Interest rate is high"
      0.5 3.5/5 "Pretty good"
      Citi bank delivered a good service for my personal loan. There was no hassles with them during the process. I am certainly not happy with the rate of interest, because it is higher than the other banks in the market. The way of approach and their responses are good.
      Was this review helpful? 0
      , kolkata
      Reviewed on May 18, 2017
    • Citibank Personal Loan
      "Its Good"
      0.5 5.0/5 "Blown Away!"
      CITI bank offered 16% of interest rate on personal loan, but their service is very good. Totally they have one week to complete the loan process, customer service they have supported a lot on loan process. I took the amount of Rs.1.6 lakh then I done foreclosure with the 3% of interest on principal amount.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 18, 2017
    • Citibank Personal Loan
      "Genuine and Hassle free service"
      0.5 5.0/5 "Blown Away!"
      I personally liked genuine service of CITI bank , some time their interest rate is high but their service is too good compared to any other bank. They took a week to disburse my personal loan. I have taken the amount of Rs. 10 lakhs but I felt interest rate is high.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 16, 2017
    • Citibank Personal Loan
      "Interest rate was too high"
      0.5 5.0/5 "Blown Away!"
      I am an existing customer of CITI bank more than seven years, But they have offered personal loan interest rate of 14% but Standard Chartered offering 11.99% on personal loan. Other than that everything is good, process is excellent and CITI bank has good EMI option. I would like to suggest CITI Bank should provide better interest rate to an exiting customer on loan products.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 16, 2017
    • Citibank Personal Loan
      "Must be quick and responsive."
      0.5 4.0/5 "Great!"
      The follow up was not a concern on my personal loan application with Citibank. I was about to follow up with them and called CITIBANK customer service, but then they did not transfer my call to the concerned department, which was quite unsatisfied. The rate of interest is little high when compared with other banks. They took around 14 calender days, They told they can give the loan within 5 days of time. But they failed to stick on to their promises.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 15, 2017
    • Citibank Personal Loan
      "Hassle free service"
      0.5 5.0/5 "Blown Away!"
      I got good response Citibank personal loan experience. The processing fee is quite high with them. They took around 1 week to 10 days to disburse my personal loan. It was delay from my side because of some paper work. The Rate of interest is nominal with CITIBANK . Over all I got good experience with CITIBANK.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 15, 2017
    • Citibank Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      The CITIBANK service is very good in concern with my personal loan application. The rate of interest is competitive. They took around 2 weeks to disburse my personal loan after submitting my documents. Overall it is a very good service with CITIBANK.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 13, 2017
    • Citibank Personal Loan
      "Better communication required"
      0.5 5.0/5 "Blown Away!"
      I got good response in concern to the personal loan with CITIBANK. The rate of interest is not really high. The documentation process also went smooth with CITI. I would like to suggest CITIBANK, about their terms and conditions process, because it can be done in a proper way by sending a acknowledgement mails to the customers.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 13, 2017
    • Citibank Personal Loan
      "Must value the existing customers"
      0.5 5.0/5 "Blown Away!"
      CITI Bank had deviated from their time scales the normal turn around time taken to process the personal loan was 7 working days. However CITI bank had taken around 10 working days of time to process this loan . The rate of interest is very much nominal with CITI Bank. I had made the payments through ECS and it was very much easy and convenient. At the beginning , they told that they will provide a top up loan after a year they confirmed that I am not eligible for a top up loan I wonder why? I had paid around 13 installments, I would certainly say that they need to stick on to their promises. More than all, they had taken too much of time to provide the status of the product.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 13, 2017
    • Citibank Personal Loan
      "Delayed service"
      0.5 1.0/5 "Really Bad"
      To be honest, CITI Bank was slow in processing my loan request. It took 15-20 days for me to get the loan from them. Even the rate of interest is very high with them, now a days almost all the banks have brought down the rate of interest, but CITI bank is still quoting the highest rate of interest which is 15%. Therefore I am completely dissatisfied with CITI.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 13, 2017
    • Citibank Personal Loan
      "Overall satisfied"
      0.5 4.0/5 "Great!"
      CITI interest rate and processing fee is far below than the competitor. But loan process got delay, they committed some date but finished after that .Once I submitted the documents, CITI had taken four days to release the funds and later everything else was fine.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 12, 2017
    • Citibank Personal Loan
      "Average "
      0.5 3.5/5 "Pretty good"
      It was good experience with the CITI bank, the interest rate offered by them disappointed me a little bit as I got around 11.99% with them but I expected it should be around 10.99%. The process got completed within five to seven days of time and I had not faced any hassle with them like as everything absolutely fine with them. Processing charges were really huge with the CITI bank on my personal loan, also the rate of interest needs to be reduced.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 11, 2017
    • Citibank Personal Loan
      "Could have a paperless process"
      0.5 5.0/5 "Blown Away!"
      I have a earlier experience with Citibank for the personal loan and the process was also good. But the bank had a lot of documentation. It was not a paperless process unlike my current experience with Tata capital. The bank is a bit high on the charges.
      Was this review helpful? 0
      , noida
      Reviewed on May 11, 2017
    • Citibank Personal Loan
      "Wonderful"
      0.5 4.0/5 "Great!"
      I got the personal loan with the CITI bank because of their speedy process , also they are flexible towards the customers. Within six to seven days of time, I got the loan amount to be get credited. Processing charges are huge with them.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 10, 2017
    • Citibank Personal Loan
      "Loan process has to be improved"
      0.5 3.0/5 "Satisfactory"
      CITI bank rate of interest is very good, but the loan process is very bad. I had followed up with them for past three weeks. I kept calling them to check the status of loan, finally I have escalated it to their higher level then they disbursed the amount, after lots of follow up. I had received the disbursement and my first EMI starts from the month of June onwards.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 10, 2017
    • Citibank Personal Loan
      "Interest rate is high"
      0.5 3.5/5 "Pretty good"
      I had taken a personal loan from CITI bank. I had no issues with the bank while processing the loan. I got good response as well. Interest rate is something not really satisfactory. If the bank provide the lesser interest rate, then it would be good. Otherwise customer service is good.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 10, 2017
    • Citibank Personal Loan
      "Best experience"
      0.5 5.0/5 "Blown Away!"
      I had closed the personal loan with CITI bank and that was the best one. I had not face any hassle with them and there is no interruptions on that till now. Processing charges are very much nominal one with them. They had credited the money to my account within a week's time.
      Was this review helpful? 0
      , kanpur
      Reviewed on May 09, 2017
    • Citibank Personal Loan
      "Very Good"
      0.5 4.0/5 "Great!"
      I approached CITI bank to do balance transfer on my personal loan, they committed the interest rate of 10.29% it is least as per the market standard. My existing loan tenure for five years, I already paid two years of tenure with ICICI, I should pay remaining tenure, CITI bank charging 0.5% fee on balance transfer.
      Was this review helpful? 1
      , pune
      Reviewed on May 03, 2017
    • Citibank Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I liked CITI bank documentation part, because without any papers works they were able to action the personal loan quickly and this happened because I am an exsisting customer of CITI Bank. They had disbursed the loan amount of 3.68 lakhs for the tenure of five years with a very low rate of interest.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 03, 2017
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