Total EMI


Total Interest


Total Payments


Break-up of Loan Amount
Created with Highcharts 4.2.2 50,00,000 69,80,559 Total Interest Principal Loan Amount
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About Citibank Personal Loan

Citibank is one of the oldest banks operating in India since over a century. It has been at the forefront in introducing innovative products suitably modified to cater to the needs of the Indian population. It was amongst the first banks in India to launch Credit Cards and Personal Loan facilities to retail clients. Global scale, technology and deep understanding of the banking sector have enabled Citibank to be counted among leading banks in India even after a century of operations.

One of the products launched by Citibank to cater to the individual needs of its clients is the Citibank Personal Loan. It is an unsecured loan that is provided to an individual without the need for any personal guarantee or collateral or any other kind of security. It is provided to an individual based on their income, past credit history, and repayment ability. The Personal Loan has to be paid in the form of Equated Monthly Instalment (EMI). An EMI is a fixed amount that a borrower pays to the Citibank every month on a prefixed date as a means of repayment of the Personal Loan. The EMI is payable every month until the entire loan is fully paid back. The EMI is made up of two components - the principal repayment component and the interest component.

Personal Loans are provided to cater to personal needs when there is a requirement of lump sum cash or during certain emergencies. Generally, Personal Loans are provided for needs like medical emergencies, children education, vacation, functions, appliance purchase, repayment or restructuring of debt or other personal emergencies.

Citibank account holders and people with an existing relationship with the bank have the option of getting a Personal Loan online without submission of any additional documents. Such loans are termed Insta Loans. The eligibility of such Insta Loans is determined by Citibank using data analysis and individual credit history. For other applicants of Personal Loan, one has to submit physical documents, and apply using Citibank website or apply online via channel partners like MyMoneyMantra.

Why Use an EMI Calculator?

An EMI calculator enables you to compute your EMI based on the three loan parameters - the interest rate, loan amount, and tenure of the loan. Since EMI is a monthly outgo during the entire tenure of the loan, one has to suitably choose an EMI that they are comfortable to pay. You have to ensure that you are able to pay EMI from your monthly surplus left after accounting for monthly living expenses and other fixed obligations. Before taking up a Personal Loan, the borrower has to thoroughly review their monthly budgets and cash flows for the near future so as to make sure that they are able to pay the EMIs on time.

Citibank offers affordable and convenient Personal Loans with various options and suitable terms. Citibank offers Personal loans with EMI as low as 2,174 per Lakh at 10.99% interest rate per annum depending on the eligibility of the borrower. 

Personal Loan EMIs for Different Loan Tenures

Here are the Personal Loan EMIs calculated using the MyMoneyMantra EMI calculator for different tenures @10.99% interest rate:

Loan Amount () 2 Years 3 Years 5 Years

1 Lakh




Total amount payable to the bank (Interest + principal)

1.12 Lakh

1.18 Lakh

1.30 Lakh

Interest payable




From the above table, we can infer that EMI paid on a Personal Loan with a higher tenure is lower than that for a Personal Loan with a lower tenure. For example - A 1 Lakh loan at 10.99% annual interest rate for 2 years has EMI of 4,660 while the same loan for 3 years tenure has an EMI of 3,273. However, one must note that even though the EMI amount is lower, the total outgo for a 3 year loan is higher than that for a 2 year loan. Hence, if one is able to afford paying higher EMI comfortably, one must take a lower tenure loan to prevent higher total interest outgo. Hence, it is advisable to choose your loan tenure wisely as longer tenure means high total interest expenses.

Similarly, the higher the loan amount, higher is the EMI. Hence, the EMI for a 1 Lakh loan is lower than EMI for a 2 Lakhs loan for the same loan tenure.

Thus, we can see that we can arrive at EMI by changing loan tenure, loan amount, and interest rate. One has to try out various combinations of loan parameters in order to ensure that one is comfortable with the EMI according to monthly budget while at the same time choose an EMI that doesn't lead to very high total interest outgo.

EMI Calculation Formula - Citibank Personal Loan 

The formula used to calculate Citibank Personal Loan EMI is as follows:

P*r* (1+r)^n/([(1+r)^n]-1)


P = Loan amount to be borrowed and can range from a minimum of 1 Lakh to a maximum of 30 Lakhs.

r = Rate of interest/month. The going rates of interest for Citibank Personal Loan start at 10.99%.

n = tenure in months. For Citibank Personal Loan, this can be 60 months.

How to Calculate Citibank Personal Loan EMI 

MyMoneyMantra is a channel partner for applying for a Personal Loan from Citibank online. MyMoneyMantra has created a user-friendly and easy to use EMI calculator where on changing the loan parameters, you can get EMI instantly and compare across various combinations of loan parameters.

Anyone who wants to use the EMI calculator needs to follow these simple steps:

  • Select the EMI calculator on MyMoneyMantra that is listed under the financial tools tab.
  • You will reach a page where you will have to enter the loan parameters - loan amount, interest rate, and the loan tenure. Enter the details as mentioned.
  • As soon as you enter the three loan parameters, you will instantly get your EMI amount on the same webpage.
  • Try different combinations by changing the parameters and compare the EMI for each combination of loan parameters so that you can choose the best option that suits your financial position.

MyMoneyMantra website will ask for your personal details based on which it will check for your loan eligibility. Once your eligibility is computed, the website provides you various quotes for the best possible loan that matches your requirements, eligibility and credit behaviour.

Once you select the option that best suits you, you can apply for a Personal Loan from Citibank or other partners online. Once you complete the Personal Loan application, the bank representative will contact you instantly to further process the loan application.

Benefits of Using MyMoneyMantra's EMI Calculator

MyMoneyMantra offers a convenient and easy method to check EMI for various combinations of loan parameters. Knowing your EMI before applying for a loan lets you understand your monthly outgo beforehand so that you can check for yourself whether you will face any financial crunch while servicing the loan. MyMoneyMantra EMI calculator has the following advantages:

Anytime access

The MyMoneyMantra EMI calculator is available online. Hence, it can be accessed at any time of the day from anywhere using the internet. You can try various permutations and combinations of loan parameters and get instant answers without having to visit any bank or NBFC to know about your EMI.

Accurate results

Computation of EMI using the loan parameters involves finding the roots of a polynomial. Solving the complex polynomial equation is many times very cumbersome and performing manual calculations is prone to errors. The EMI calculator provides you instant, accurate, and error-free results by solving the complex function.

Saves you from time-consuming and complex calculations

Since solving the equation to calculate the EMI is complex, it takes a lot of time and effort to arrive at the solution. Particularly, when you have to try out various combinations of loan parameters based on quotes by various banks, it will take an enormous amount of time if you try to do the calculations manually. The EMI calculator is an online tool that provides instant answers once you enter the loan parameters and hence you can try n number of options and compare results in seconds.

Aids the financial planning process

Using an EMI calculator helps you plan your finances in advance of taking the loan so that your monthly budget is not disturbed. You can also change the loan parameters to reach the most suitable EMI as per your needs.

Before taking up a Personal Loan, the MyMoneyMantra EMI calculator allows you to plan your finance and monthly budgets so that you can service the loan comfortably. You can adjust your monthly expenses and other obligations accordingly.

You can use an online EMI calculator for every loan

EMI calculators can be used not only for Personal Loan EMI calculation but for EMI calculation of all types of loan. A Home loan, mortgage loan, education loan and all other kinds of loan use the same formula to calculate EMI. Hence, this EMI calculator can be used to easily calculate EMI for all types of loan instantly.

Quick Guide on Citibank Personal Loan

Purpose of Loan: Citibank Personal Loan is a multipurpose loan that is generally offered for funding medical treatment in case of emergencies, paying additional debts, marriage expenses, and other personal finance requirements.

 Key Features of the Citibank Personal Loan

  • Both salaried individuals and self-employed are eligible for Personal Loan
  • Age group of the applicants should be between 23 and 60 years
  • Loan amount starts from a minimum of 1 Lakh to 30 Lakhs
  • Flexible loan tenure, varying from 6 months to 60 months
  • Affordable interest rates in the range of 10.99% to 18.99%
  • EMIs starting from as low as 2,174 per Lakh

Processing Fees: Citibank charges a non-refundable processing fee of up to 3% of the loan amount. This amount is to be paid at the time of loan application.

Special Loan Schemes: For special categories of borrowers like borrowers working for reputed companies, banks or government employees, borrowers with an existing or past relationship with Citibank, and women applicants are offered attractive Personal Loan interest rates and special schemes.

Factors Affecting Citibank Personal Loan EMI

A Personal Loan EMI is usually affected by the following parameters:

  • Loan amount: Loan amount is the amount that a borrower borrows from the bank. It is the principal amount or P in the EMI calculation equation on which interest is calculated. Citibank Personal Loan has loan amounts starting from a minimum value of 1 Lakh. The maximum loan amount on Personal Loans from Citibank is 30 Lakhs. The loan amount eligibility depends on the repayment ability of the borrower. In general, for the same tenure of the loan, higher the loan amount, higher is the EMI.
  • Interest rate: The interest rate is the cost of financing a Personal Loan. Interest rates are governed by a lot of external factors like liquidity position of a bank, the current prevailing repo rates by Reserve Bank of India, competition intensity in the market, and so on. The interest rate varies from bank to bank. The interest rates depend not only on external factors, but the repayment capacity of the borrower, the credit rating and credit behaviour of a loan applicant also determine the interest rate to an extent. Generally, higher the interest rate, for the same loan amount and tenure, higher is the EMI.

    Citibank offers attractive interest rates on Personal Loans with interest rates as low as 10.99% per annum. For special categories of borrowers, the interest rates are lower with attractive terms and conditions.

  • Loan tenure: The duration for which a Personal Loan is obtained is called the loan tenure. This is the period in which a borrower repays the entire loan from Citibank. Throughout the loan tenure, a fixed amount, i.e., EMI is debited from the bank account of a borrower on a pre-fixed date. Longer the loan tenure, lower is the Personal Loan EMI. Citibank offers Personal Loans with tenures between 6 months to a maximum of 5 years.

Tips to Analyse the Right Amount of EMI

Decide upon what amount you have to borrow: Always remember that a Personal Loan is an unsecured loan that doesn't require any collateral and as a result, the cost of Personal Loan is very high when compared to a secured loan. As a result, you incur a very high finance cost for a Personal Loan. Hence, one should take a Personal Loan prudently and try taking up minimum loan amount to fulfil their requirement.

Taking up a higher loan amount just because you are eligible for a higher loan amount is not a sensible practice because you end up paying very high interest cost for the higher amount of loan. Hence, it is advised to estimate the amount you need to borrow before approaching a bank for a Personal Loan. Also, depending on your monthly surplus, try to opt for lowest tenure loans to avoid large interest outgo on higher tenure loans.

Assess your current obligations: Before deciding to take up a Personal Loan, it is strongly recommended to do a thorough evaluation of all your monthly expenses, upcoming expenses, and other fixed financial obligations. The assessment will help you to estimate the monthly surplus amount on which you can take EMI. Reviewing all obligations will help you choose an EMI that you are comfortable catering to without a high degree of financial stress. After arriving at the EMI that you can service easily, decide the right loan tenure.

Calculate your Citibank Personal Loan eligibility: Citibank accesses your monthly income, monthly expenses, and other obligations to calculate your repayment capacity and then arrives at your Personal Loan eligibility using the following two methods:

  • Multiplier based loan amount eligibility: This is the simplest method for calculating loan eligibility used by banks. The formula used for loan amount eligibility calculation is:

Loan Eligibility = Your Net Salary x multiplier (Between 9 and 18).

Thus, the loan amount eligibility is determined by applying a multiple to your net take home salary. The multiplier is dependent on Citibank's internal categorisation of your employer company based on its reputation, stability, size, and turnover. It is also dependent on any previous relationship with Citibank. Thus, you can borrow a minimum of 9 times your net take home salary using this method of loan eligibility.

  • FOIR based loan amount eligibility: FOIR stands for Fixed Obligations to Income Ratio. To calculate your loan eligibility amount using this method, the bank first estimates your fixed obligations including your current monthly expenses and EMIs on current loan accounts to calculate the current fixed obligations. To estimate the current monthly expenses, Citibank uses data like the city of residence, the price index, and other available information. Citibank then adds EMI for the loan applied in the above to calculate fixed obligations post taking up the loan. This estimated fixed obligation post taking up the new loan divided by your monthly income gives FOIR ratio. Citibank lends up to a maximum FOIR of 0.45. Citibank's assessment may be different from your own assessment. To improve loan eligibility, you can consider paying back your existing loans so that your fixed obligations reduce.

Citibank will calculate loan amount eligibility based on the above two methods and will sanction you a loan amount that is lower of the two loan eligibility amounts calculated by the above two methods.

How Does Citibank Personal Loan EMI Change with Pre-Payment?

Once you prepay a part of the Personal Loan, your total outstanding loan balance reduces and as a result the loan parameters change. The reduced outstanding amount can now be paid by choosing one of the following two options:

  • Keep the EMI constant and reduce your loan tenure: This option helps you to close your Personal Loan earlier and help you reduce the total interest outgo associated with the remaining tenure. This option suits borrowers who do not anticipate any large changes in their monthly cash positions and have adequate income to continue servicing the same level of EMIs.
  • Reduce the amount of EMI and keep your loan tenure the same:This option helps you to reduce your monthly EMI and as a result you have a higher availability of monthly surplus post serving monthly obligations. The monthly surplus can be used to invest or be used for any other purpose as desired. This is suitable for borrowers who anticipate high monthly personal expenses in the near future and want to reduce their monthly EMI obligations.

FAQs on Citibank EMI Calculator

Question - What is the lowest EMI per Lakh offered by Citibank on Personal Loan?

Answer - Citibank offers Personal Loan with interest rates starting 10.99% per annum. Based on this interest rate, the lowest EMI per Lakh of loan amount comes out to be 2,174. However, Citibank salary accounts holders, existing customers, and special categories of borrowers working for reputed organisations and government can get even better rates.

Question - Does Citibank allow prepayment of Personal Loan and what are the charges for the same?

Answer - Yes, Citibank offers you an option of prepayment after 12 months of servicing the Personal Loan. The prepayment charges are up to 5% on principal outstanding.

Question - Why should I calculate Citibank loan EMI before taking a loan?

Answer - A Personal Loan is a financial obligation until the entire loan is repaid. Prior calculation of EMI helps you with the following:

  • Allows you to check whether the EMI that you are planning to service fits your monthly cash flows and budgets. In case the EMI is too high, you can then increase the loan tenure to avoid any financial stress.
  • Knowledge of EMI will help you not to take up a large financial obligation in the near future. It helps you plan your current spends and future expenses according to the EMI.
  • You can plan prepayment of your Personal Loan in the future when you have the surplus amount.

Question - Is there any processing charge on Personal Loan from Citibank?

Answer - Yes, Citibank charges a non-refundable Personal Loan processing fee of up to 3% of loan amount.

Question - Will I get the Personal Loan from Citibank if I have a bad credit score?

Answer - Citibank avoids giving Personal Loan to individuals with a low credit score. Citibank provides Personal Loan for applicants with CIBIL score of 700 and above.

Read more: How to improve credit score by getting a Personal Loan

Question - How does a Personal Loan repayment happen?

Answer - A Personal Loan repayment happens through payment of a fixed amount every month called EMI. The fixed EMI is deducted from the borrower's bank account on a fixed date towards servicing the Personal Loan. Generally, the borrower has to present a few post-dated cheques and sign an ECS mandate in favor of Citibank at the time of loan sanction or disbursal.

Question - Does applying with a co-applicant help you get a Personal Loan with Citibank?

Answer - Opting for a loan with a co-applicant helps you enjoy higher loan amount eligibility since incomes of both the applicants are taken into account while computing loan eligibility. So, if you want a higher loan amount, applying for a Personal Loan with co-applicant is beneficial.

Citibank Personal Loan News

30 October 2018: Citibank shoots up its Base Rate

Citibank has raised its base rate by 15 basis points. The new base rate stands at 9.10%, which was 8.95% earlier. The revised base rate is effective from October 7, 2018.

05 July 2018: Citibank Personal Loan and Credit Cards spending increases four times in FY 13-18

In the past three years, Citibank's Personal Loan book has been increased by four times. Unsecured Loans are given without any collateral, therefore bank charges a higher rate of interest. It stood at around 5 trillion, which is 26% of retail lending.

30 April 2018: Citibank reports strong growth in Credit Cards and unsecured loans

Unsecured loans and outstanding on Credit Cards have been leading growth in bank credit for the last 4 years. Credit Card outstanding amount has been increased by 31.6% by March 2018. Lending in the other unsecured loans category rose by 35%. While credit grew merely by 0.7%, all Personal Loans saw an increase of 17.8%. Retail credit is now reported to have a quarter of the total non-food credit share.