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
    10.99% - 15.99% Fixed
    Up to 2%
    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 2040 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
      "Its okay to get it"
      0.5 4.0/5 "Great!"
      I am happy with the loan which I got from CITI bank, but actually I am not happy with the rate of interest, when compared to other banks, the rate of interest offered by CITI bank is very much higher. All documentation process was completed at the right time and I got my loan in a few weeks of ti
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 18, 2017
    • Citibank Personal Loan
      "Customer friendly"
      0.5 5.0/5 "Blown Away!"
      Only the disbursement amount got late, remaining everything is fine. After getting the welcome letter, CITI bank has taken some time to release the amount. My principal amount is quite good and they taken some processing fee and interest rate. Intimation prompt was good with CITI Bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 17, 2017
    • Citibank Personal Loan
      "Below Average service"
      0.5 2.0/5 "Expected more"
      The Citibank executives called me all the time and they told that they can approve the loan but they never approved it and they haven't even revealed the reason as well. The response need to be improved with Citibank ,They way they give response need to be changed. I got below average service from Citibank.
      Was this review helpful? 0
      , pune
      Reviewed on Aug 17, 2017
    • Citibank Personal Loan
      "Its Excellent"
      0.5 5.0/5 "Blown Away!"
      Every thing is perfect in CITI Bank, because I am existing of the bank for past three years. I have applied for top up through online channel, then I have withdraw it because I don't have any requirements and my old was live with the same bank. Other than that I don't have any issue with them.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 17, 2017
    • Citibank Personal Loan
      "Below Average service"
      0.5 3.0/5 "Satisfactory"
      The loan which I have applied with Citibank was offering the high Interest rate because I work with Heath care IT industry. They are charging too much because of my work place, so that was the reason I haven't proceed with CITIBANK personal loan . The processing fee also high when compared with others.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Aug 17, 2017
    • Citibank Personal Loan
      "Hassle free process"
      0.5 5.0/5 "Blown Away!"
      CITI Bank helped me a lot, initially I contacted the bank directly to avail personal loan but they rejected it. Again I approached the bank through online channel then CITI bank have approved the loan. Processing fee was low but interest was bit high, but I am very happy with service and loan disbursement.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 17, 2017
    • Citibank Personal Loan
      "Pretty simple and hassle free process"
      0.5 4.0/5 "Great!"
      Response is pretty quick also their executives came to my place to collect the documents. I got around 2 calls also I got the confirmation stating that the amount was disbursed. I am yet to receive the confirmation on the EMI date. However I had received the welcome kit from them.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 17, 2017
    • Citibank Personal Loan
      "Overall good"
      0.5 5.0/5 "Blown Away!"
      I liked the process at Citibank and the customer services was good. The process was smooth and I got the personal loan through within 15 days. The rate of interest was around 13%, it was a bit high as my company was not a listed company. The processing charges was high too.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Aug 17, 2017
    • Citibank Personal Loan
      "Good service"
      0.5 4.5/5 "Excellent!"
      I have arranged the required amount from other source, so that was the reason I haven't proceed with Citibank personal loan application. The rate of interest is quite high when compared with other bank. I would say I got good service from Citibank other than their interest rate.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Aug 17, 2017
    • Citibank Personal Loan
      "Excellent process"
      0.5 5.0/5 "Blown Away!"
      It was a excellent process at Citibank for the personal loan. It was on time and I received the loan as per my requirement. The interest rate and processing charges was normal and the after loan services has also been up to the mark. I have no hassle in all.
      Was this review helpful? 0
      , new delhi
      Reviewed on Aug 17, 2017
    • Citibank Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      The Citibank has told that my area pin code is considered under negative area to approve the loan, So that was the reason I can't proceed with the Citibank personal loan. The customer service with Citibank was average . The rate of interest is nominal with Citibank. I would say I got the Average service from Citibank.
      Was this review helpful? 0
      , mumbai
      Reviewed on Aug 17, 2017
    • Citibank Personal Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      Citibank has been more quick in the process of a personal loan they have offered around 11% rate of interest approximately . I hold my savings account with them for long time and the customer services are excellent. The details they provide is standard and there are no issues with that. The interest rate and charges are very much normal too.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 17, 2017
    • Citibank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      Seamless service was offered by CITI Bank. Everything was done on line it was more convenient. I had placed a request for the Personal loan through online, post which I just received a call from them. I did not submit any documents because I was holding an account with them it was a pretty old account. Even closure request can be initiated online time scales taken were very less, rate of interest offered by them is comparatively high.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 17, 2017
    • Citibank Personal Loan
      " Interest rate should be competitive"
      0.5 5.0/5 "Blown Away!"
      I got a preapproved loan from CITI, within four to five hours loan amount got disbursed. Their response is also very good. Interest rate was also common, they offered me around 12.5% per annum. But in ready credit account, when ever I need money, I could withdraw it from current account and make the payment when I have funds hence interest will be calculated on number of days.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 17, 2017
    • Citibank Personal Loan
      "Overall good"
      0.5 4.0/5 "Great!"
      It was good and smooth and a quick process at Citibank. I got the personal loan in seven working days. The documents were collected in one shot and the disbursement was also on time and as needed. The interest rate was around 11.49% and the processing charges were very much average too.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Aug 17, 2017
    • Citibank Personal Loan
      "Good Experience"
      0.5 5.0/5 "Blown Away!"
      I am very much happy about CITI bank service, they gave me prompt response on loan. But they have taken some additional charges of Rs.1000 excluding processing fee and documentation charges. Other than that CITI bank have fulfilled my requirement. I have requested CITI bank to my EMI date after 5th of every month, but they gave on it on 1st of every month, that should be changed.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 17, 2017
    • Citibank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have arranged the required amount with other source, so that was the reason I have not processed with CITIBANK personal loan. Other than Citibank gave good service and better response in regards to my personal loan application. The follow up is also very good with Citibank. The rate of interest can decreased in future.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 16, 2017
    • Citibank Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      There was no loan requirement so that was the reason I have asked Citibank executives to close the personal loan application. The rate of interest they were about to offer the loan was high. The response which was given by Citibank was good. The service which was given by Citibank was average.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 16, 2017
    • Citibank Personal Loan
      "Good can do better"
      0.5 4.0/5 "Great!"
      Citibank has disbursed my personal loan within a week time. The response part with Citibank was good. The required loan amount was not disbursed. I have asked for 9lakhs and they have approved only 8lakhs . The rate of interest is high when compared with HDFC bank. The processing fee was also high with CITIBANK.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 16, 2017
    • Citibank Personal Loan
      "Unhappy with the services"
      0.5 2.0/5 "Expected more"
      I was very disappointed with Citibank when I approached them for a personal loan. Though I am an existing customer for many years, and all my payments goes through smoothly. The bank could not acknowledge my details and give me a response sooner. They delayed to do so.
      Was this review helpful? 0
      , pune
      Reviewed on Aug 16, 2017
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