Citi Bank Personal Loan

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About Citibank

Citibank India is a subsidiary of a multinational financial services corporation, Citigroup which is headquartered in New York City, United States. Citibank India is headquartered in Maharashtra, Mumbai.  Citibank offers a wide spectrum of products and services including consumer banking, equities brokerage and distribution and private banking. Citibank has also been awarded as Best Foreign Bank in Finance Asia Country Awards for Achievement 2017.

About Citibank Personal Loan

A Personal Loan from Citibank includes several benefits for the borrowers. The bank offers a personal loan at attractive interest rate with fewer formalities and documents. However, the features and benefits are subject to the bank?s internal terms and conditions. All the key facts about Citibank Personal Loan are mentioned below:

Citibank Personal Loan

 

Loan Amount

  • Minimum Rs. 1 lacs
  • Maximum Rs. 30 lacs

Loan Tenor

  • Minimum 12 months
  • Maximum 60 months

Loan Processing Fee

Up to 2.5% of the loan amount

Loan Turnaround Period

Within 3 days from the submission of all the loan related documents

Personal Loan can be used for

Marriage expenses, home improvement, and other personal expenses

Loan Applicants

Salaried individuals, self-employed business owners and self-employed professionals

Pre-closure charges

4% of the outstanding loan amount

Type of Interest rate

Fixed rate of interest

Citibank Personal Loan Features

  • Additional Funds over and above the loan amount: The bank offers extra benefit of additional funds to the existing loan borrowers. The process of receiving additional funds is simplified for the existing loan borrowers.
  • Attractive Rate of Interest: The Citibank offers an attractive rate of interest on a Personal Loan as compared to other banks.
  • Simplified Loan Process: Citibank offers a Personal Loan in a simplified process with fewer documents.
  • Quick Turnaround Period: The bank provides a loan within three days after the submission of all loan-related documents.

 

Citibank Personal Loan Eligibility Criteria

There are several factors based on which your loan eligibility is decided:

  • Age- The minimum age at the time of applying for a Personal Loan from Citibank should be 23 years and above and should be 60 years and above at the time of loan maturity.
  • Who can apply: A personal loan from Citibank can be applied by salaried individuals, self-employed business owners and self-employed professionals.
  • Income: The borrower must have a regular source of income. Typically the bank defines a minimum amount of income for applying for a personal loan.
  • CIBIL Score: CIBIL Score is one of the important factors that affect the eligibility of the borrower. Usually, the CIBIL score over and above 700 is considered as good by the bank and other lending institutions.
  • Location: The location of the borrower also affects the personal loan eligibility.

Documents Required for Citibank Personal Loan

The following documents are required to apply for Citibank Personal Loan:

Eligibility Criteria

Salaried Individuals

Self-employed Professionals

Identity Proof

Anyone of the following:

  • Aadhar Card
  • PAN Card
  • Valid Voter's ID Card
  • Valid Passport
  • Valid Driving License
  • Identification letter from the Identification Authority of India

Anyone of the following:

  • Aadhar Card
  • PAN Card
  • Valid Voter's ID Card
  • Valid Passport
  • Valid Driving License
  • Trade license
  • Professional license

Address Proof

Anyone of the following:

  • Aadhar Card
  • PAN Card
  • Valid Voter's ID Card
  • Valid Passport
  • Valid Driving License
  • Utility bill, not more than 3 months old
  • Ration Card
  • Letter from employer
  • Copy of the rent agreement or Lease Deed

Anyone of the following:

  • Aadhar Card
  • PAN Card
  • Valid Voter's ID Card
  • Valid Passport
  • Valid Driving License
  • Utility bill, not more than 3 months old
  • Ration Card
  • Letter from employer
  • Copy of the rent agreement or Lease Deed

Age Proof

Anyone of the following:

  • Birth Certificate
  • School Leaving Certificate
  • Voter's ID Card
  • College Certificate
  • PAN Card

Anyone of the following:

  • Birth Certificate
  • School Leaving Certificate
  • Voter's ID Card
  • College Certificate
  • PAN Card

Business Continuity

  • Letter from the employer
  • Old salary slips or Form 16

 

  • Ownership document
  • Utility bill
  • Lease Deed
  • Income Tax Returns from the same city of the business Income Tax Returns from the same city of the business

Income and occupation Proof

  • Salary slips (last 2 months)
  • Latest Form 16
  • Bank statement of last 3 months

 

  • Income tax return of last 2 years
  • Complete financials including P & L statement, Balance Sheet, Auditing Reports, and Annexure
  • Bank statement of last 6 months

 

  • Interest Rate 10.99% - 15.99%
  • Loan Amount1L - 30L
  • Processing Fee 2%
  • Tenor1 Years

  • Quick Apply

Other Available products from Citibank

  • Citibank Business Loan
  • Citibank Home Loan
  • Citibank Loan on Credit Card
  • Citibank Loan Against Property
  • Citibank Loan Against Securities
  • Citibank Loan for Commercial Vehicle 
  • Citibank Loan for Construction Equipment 
  • Citibank Top Up Existing Loan 

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