About Citibank

Citibank India is a subsidiary of Citigroup, the US multinational investment bank and financial services corporation. With its origination in 1902 in Calcutta, the banking major has a long history in India since its origin.

Today Citibank is a premium private sector bank in India. Currently, it is the largest financial services foreign direct investor in India.

Being a pioneer banking major, Citi offers a wide range of financial products and services in consumer banking, retail lending, corporate and investment banking, securities brokerage, and wealth management. Citi India serves an extensive range of customers across the country.

Citibank Personal Loan Interest Rate - Apr 2021

Interest rate

11.25 %

Loan tenure

5 Years

Loan turn around period

1-7 Days

Processing Charges

3 % of loan sanctioned + Taxes

Who can apply?

Self-employed professionals

Salaried individuals

Indian residents

Dishonour Charges

500 per instance

Lowest EMI

2301  Per Lakh

Why Choose Citibank Personal Loan?

Choose Citibank Personal Loan if you need faster and convenient loan at an attractive rate of interest. Extending complete ease to the customers, Citi India offers customers-friendly Personal Loans starting at 10.99 % per annum.

When you apply for Citibank Personal Loan, you enjoy the following advantages:

  • Easy and hassle-free online loan application
  • Unsecured loan up to 3000000
  • Know about eligibility in 4 hours
  • No documents required for eligibility assessment
  • Disbursement to your bank account in 2 working days or 48 hours
  • Fixed interest rate
  • Part pre-payment allowed
  • Facility to consolidate Credit Card balance and outstanding Personal Loan amount

Features and Benefits of Citibank Personal Loan

There are multiple benefits of opting for Citibank Personal Loan. Apart from offering attractive rate on fixed interest basis, Citibank extends other facilities to the borrowers; such as Personal Loan Top Up, prepayment, part-payment, and consolidation option.

Here is a list of benefits you enjoy with the approval of Citibank Personal Loan:

All-purpose Loan

Citibank doesn't impose any restriction on usage of Personal Loan amount. You can use the funds for an array of reasons such as education, wedding, travel, health, home improvement, business expansion and much more. However, the funds should not be used for unlawful, or speculative activities or purchase of gold.

 Loan amount up to 30 Lakhs

Citibank offers extensive Personal Loan up to 3000000 at fixed monthly instalment. You can apply for a minimum of 25000 loan amount. With such a wide range, you get substantial flexibility to apply for Personal Loan.

Disbursement in 48 hours

Extending customer ease, Citibank ensures fast disbursal of Personal Loan funds. After submission of the required documents, you can expect the funds in your bank account within 48 hours or 2 working days.

Flexible repayment tenure

A borrower gets a lot of flexibility in choosing the loan repayment tenure, ranging from 12 to 60 months. You can choose the EMIs according to your budget.

Fixed interest

By offering fixed interest for Personal Loan, Citi Bank assures ease of repayment to the borrowers. You can better plan the monthly payouts as instalments will remain the same throughout the loan tenure.

Top Up facility

Being a Citi Bank Personal Loan customer, you get access to the Top-Up facility. You can apply for additional credit without raising another loan. The best part is: you can repay as soon as you want and keep the interest burden low on additional debt. Neither do you need to apply for a new loan nor to worry about additional EMIs, as in the case of a new loan account.

Minimal documentation

If you are already a Citibank Customer, it is a cakewalk to apply for a Personal Loan. For Citibank Suvidha customers, applying for Loan is equivalent to logging in to an Online Bank Account. The documentation is minimal and hassle-free.

Full and part-prepayment allowed

 Citibank offers flexibility to prepay Personal Loan as per your convenience. If you apply for Personal Loan, you can close your account in full or partially after the first 12 months of the loan initiation. Pre-payments although impose some nominal charges.

Balance consolidation facility

With Citibank, you get an advantage to transfer your credit card outstanding and personal loan balance into a consolidated Personal Loan at an attractive rate of interest.

Ease of Repayment with No Late Fee

Ensuring customer satisfaction to the fullest Citibank accepts varied modes of repayment according to customers' preferences. You can use NACH, SI or prepaid cheques. There are no late payment charges for Citi personal loans.

Citibank Personal Loan: Interest Rates, Processing Fees & Charges

Citibank India is a pioneer in retail lending. They believe in extending credit support to deserving customers without any hassles. An eligible customer can avail low-interest Citibank Personal Loan at a fixed interest rate starting at 10.99% p.a.

The rate of interest varies according to the customer profile and factors like current income, past debts, credit history, and credit score. The interest is calculated on a reducing interest basis.

Interest during the disbursal is calculated as:

(Loan outstanding X Rate of Interest % X Days remaining in the month) / [365+ (Rate of Interest% X days remaining in a month)]

Thereof, interest for successive months is calculated as:

Loan outstanding X Rate of Interest % X (Number of days in a month/ 365 days)

**Number of days will be "366" for leap years.

Citibank MCLR

The Marginal Cost of Funds based Lending Rate (MCLR) for Citibank India effective from November 07, 2018 is as follows:

Tenure MCLR Rate



1 month


3 months


6 months


12 months


 However, Citibank Base Rate effective as of November 7, 2018, is 9.20% p.a.

 Citibank Personal Loan interest rates for salaried & self-employed individuals

Purpose Charge/Rate

Interest Rate

Salaried employees: 10.99% to 13.75% p.a


Non-professionals: 17.49% - 18.99%

Professionals: 16.00%  to 17.99% p.a

Booking Fee

Up to 3% of the loan amount

Late Payment Charges


Loan Pre-Closure Charges

Up to 4% on principal outstanding + Interest for ongoing month

Cheque/ ECS/ SI Bounce Charges


Statement Copy (on request)


To provide you a better understanding on the effective rate of interest on your Citibank Personal Loan application, know about the range of rates for Personal Loans offered by Citibank during July 2018 to September 2018.

The bank offered the Minimum Interest Rate of 10.99% per annum and the Maximum Interest Rate of 18.00% per annum. The Average (Simple) Interest Rate on Citibank Personal Loan was 12.72% per annum.

Types of Personal Loans Offered by Citibank

Citibank Paylite on Citibank cards

If you are a Citibank Credit Card member, you are pre-approved for loan amounts up to your credit limit. The Citibank Paylite Loan is sanctioned instantly with zero documentation.

Citibank Ready Credit

As the name suggests, Citibank Ready Credit is a pre-approved instant cash line facility for Citibank Suvidha Salary account holders. The customer can avail instant loan up to 5 Lakhs with zero documentation. The facility comes with ease of repayment. You can pay as and when you want, and Interest is charged only on the amount utilised.

Citibank Business Loan

Citibank's basket of Business Loans offers attractive products such as easy Overdraft, Short Term & Long Term Loan, Export, and Import Loans to meet diversified financing requirements of various businesses. You can also apply for Secured Business Loan for amount up to 80% of collateral value of Property.

Citibank Personal Loan: Eligibility Criteria

Citibank extends quick and transparent loan approval to the eligible customers. You can expect a definitive answer from the bank within two working days, subject to meeting the loan eligibility criteria. Neither do you need documents, nor income proof or address proof for establishing your eligibility for Citibank Personal Loan.

Age: The applicant needs to be a minimum of 23 years old and the maximum of 60 years before the maturity of loan tenure.

Employment Type: Personal Loans are offered to both salaried and self-employed businesspersons and professionals. However, the rate of interest varies according to the net income and employment type.

Employment status: It is important to have a stable source of income for loan approval. For Citibank Personal Loan you must either be employed or in business for at least two years. You must be working with your current employer or in the current line of business for at least past one year.

Credit Score: To be eligible for Personal Loan, it is important to have a positive credit history or score. Preferably, you must have a CIBIL score of 700 and above.

Other factors: You do not need any collateral or guarantor to avail Citibank personal Loan. However, the loan requirement should be at par with your repayment capacity. The maximum Personal Loan amount should not be more than 30 Lakh. The loan tenure should be 6 months to 60 months.

Documents Required for Citibank Personal Loan

Citibank provides an extensive choice of documents to apply for Personal Loan. By submitting any of the listed documents, you can become eligible and expect a timely loan disbursal. MyMoneyMantra loan experts guide you at each step to meet the bank directives with maximum ease.

Documents required for Personal Loans by Salaried and Self-Employed businesses and professionals.

Criteria Salaried Self Employed

Proof of Identity

  • A recent photograph
  • PAN card
  • Aadhaar card
  • Driving license
  • Passport
  • Voter's ID card
  • Overseas Citizen of India (OCI)/ Person of Indian Origin (PIO) Card
  • Job card by NREGA
  • Photograph
  • PAN card
  • Aadhaar card
  • Driving license
  • Passport
  • Voter's ID card
  • Overseas Citizen of India (OCI)/ Person of Indian Origin (PIO)card
  • Professional license/ Trade license (with photograph)


Proof of Residence

  • Aadhaar card
  • Driving license
  • Passport
  • Voter's ID card
  • Recent utility bills (with name & address)
  • Ration card
  • Letter from employer
  • Lease deed/ Rent agreement copy/ Property registration document
  • Bank account statement printed on the bank's letterhead (signed & stamped by existing banker)
  • Mutual fund statements
  • OCI/PIO card
  • Latest ITR


Proof of Age                   

  • Birth certificate
  • School leaving certificate
  • Passport
  • Voter's card
  • Graduation/ Post Graduation certificate
  • Tax return
  • PAN card
  • Company ID/HR confirmation

Length of employability/ continuity of business

  • Employer's letter
  • Past pay slips
  • Form 16
  • Salary certificate


  • Office lease deed/Rent receipts
  • Office space ownership document
  • Past utility bills
  • Tax returns from the same city
  • 3 years bank Statement for business

Proof of Income and


  • Latest two salary slips
  • Form 16
  • Last 3 months bank statement
  • IT Returns for last 2 years & supplementary documents
  • Computation of income schedule
  • P&L Account
  • Balance sheet
  • Audit report (duly certified by CA)
  • Bank statement for last 6 months

Other Products by Citibank

Citibank Home Loans

Citibank offers a bouquet of Home Loan options for home building, home improvement, home Loan transfer, Loan against property and more. You can avail the desired loan at flexible repayment plan. High tenure, competitive rates, and quick processing are some of the salient features of Citibank Home Loan. 

Citibank Loan Against Securities

A man saves and invests for contingencies. However, dissolving an investment plan before maturity for small cash lapses is not a wise decision. Herein, applying for Citibank Loan Against Securities can be a solution.

You can raise quick overdraft without diluting your investment plan. You can reap the investment benefits of ownership and raise affordable loan calculated at reducing interest rate basis.

Citibank Loan Against Fixed Deposits

Likewise, if you or your family members own Citi FDs, you can apply for Loan Against Fixed Deposit for amount up to 90% of the deposit.

Citibank Loans for Commercial Vehicle and Construction Equipment

Apply for Citibank Commercial Vehicle and Construction Equipment Loans for financing purchase of new or used Commercial Vehicle and Construction Equipment. The funds are available at an attractive rate of interest.

Citibank Stock Power

Citibank Stock Power makes you eligible to raise loan up to 70% of the market value of securities owned by you. The interest is calculated on a daily reducing balance.

How to Calculate Citibank Personal Loan EMI?

It is vital to know about the EMI burden before you apply for a loan. Knowing your monthly expenses in advance helps you better plan your loan repayments and manage good credit history and credit health.

You can conveniently calculate Citibank Personal Loan monthly instalment using online MyMoneyMantra EMI Calculator. The tool is instant and easy-to-use. All you need to do is fill the Loan details, such as:

  • Loan Amount
  • Interest Rate
  • Tenure

After filling in the loan parameters, click CALCULATE icon. You must use different rates to find the most suitable combination as per your budget. Using online loan EMI calculator by MyMoneyMantra will help you make an informed decision.

Citibank Personal Loan Customer Care

Citibank Customer Care Team is accessible pan India on 24X7 CitiPhone Number 1860 210 2484 (Local call charges apply).

For outside India queries, contact number is +91 22 4955 2484.

You can also contact Citibank online by Clicking Ask Me on the official website or contact the nearest branch.

Alternatively, you can email your queries or send a request by snail mail.

For unresolved queries, write to the Head of Customer Care. The bank assures to reach you within 5 business days.

You can email at head.customercare@citi.com

Call: +91 44 28501242. (Monday - Saturday from 10:00 am to 6:00 pm)

 Further, you can contact Principal Nodal Officer Mr. M Dhananjayan                  

Email at: principal.nodal.officer@citi.com

Write your complaints with the reference number to: 

#2, Club House Road, Chennai, Tamil Nadu 600 002. India

You can directly Call 1-800-220-123 (India Toll-free)
or 39707464 (local dialing) 

Citibank Personal Loan: Latest News

Citi Bank's Moratorium for Home Loan, Personal Loan, Credit Card & Ready Credit Customers

Following RBI's directions for deferring repayments of customers for Term Loans and Credit Cards, Citibank has also allowed its customers to opt for Covid19 relief Moratorium. The bank is sending SMS to its customers for choosing the option of not paying outstanding EMIs & dues falling between 1st Mar 2020 to 31st May 2020.Read More

OnePlus 6T offers 1,500 cashback on Citibank cards

If you are a Citibank credit card or a debit card holder in India, you can avail a cashback of 1,500 on the purchase of OnePlus 6T. The offer is available on all Amazon India website, Amazon India mobile app, Oneplus.in, OnePlus experience store and select offline stores. The offer is valid from November 23 to December 10.

Citibank India FY'18 net profit at 3,403 cr

Citibank India has reported a decline of over 6 percent in net profit at 3,403 crores for the 2017-18 financial year. The bank had registered a net profit of 3,626 crores in the previous year (2016-17).

 The drop is attributable to the impact of rising yields on the investment portfolio, the bank said in a statement.

Citi bans use of cards for cryptocurrency purchase

Citi India has prohibited the use Citi debit and credit cards for the purchase of bitcoin and other cryptocurrencies. The decision comes after Reserve Bank of India shared concerns over virtual currencies.

Frequently Asked Questions

How long does Citibank take to approve the Personal Loan?

Citibank shares its decision to approve Personal Loan within four hours of receiving the application. However, in some cases, the lender may ask for additional documents and need more time to complete the application approval.

How long it takes to disburse the amount to my account?

It takes a maximum of 2 working days or 48 hours after the loan approval and documentation completion to disburse the loan.

Can I prepay my Personal Loan?

Yes, Citibank allows you to pre-pay your Personal Loan after the payment of the first 12 EMIs. You can fully pre-pay or partially pre-pay according to your financial situation.

You can prepay a minimum of 2 EMIs amount and a maximum of 5 EMIs amount on your Citibank Personal Loan Account. Before making the prepayment, you must call CitiPhone helpline and inform the bank about the same. The bank will approve your request and inform you about the amount to be prepaid. The facility is available only once in 12 months.

How do I check the status of my Citibank Personal Loan?

You can check the status of your Citibank Personal Loan online or by calling CitiPhone helpline that is available 24X7.

What is the current rate of interest for Citibank Personal Loan?

Currently, Citibank offers Personal Loan at interest rate starting from 10.99% to 18.99% per annum. The rate of interest would vary as per your employment and income status.

How much processing fee is charged by Citibank on Personal Loan?

Citibank charges a nominal processing fee of up to 0.5% plus applicable taxes.

Is there an age constraint to get approval for Citibank Personal Loan?

Yes, you should be at least 23 years old to get approval for Citibank Personal Loan. However, you should not be more than 60 years old at the time of loan maturity.

What is the nature of interest rate for Personal Loan?

Citibank extends fixed interest rate on Personal Loan. This ensures same EMI throughout the loan tenure.

Can I avail balance transfer or consolidation of credit bills and Personal Loan?

Yes, you can apply for Citibank Personal Loan to consolidate your existing credit card bills and outstanding loan dues. The loan is offered on flexible tenure and attractive rate of interest.

What are the available modes of payment for my loan?

You can repay your Citibank Personal Loan via NACH, Standing instruction, or NEFT.

Why Apply for Citibank Personal Loan on MyMoneyMantra?

MyMoneyMantra is a leading financial services marketplace in India. With decades of experience in spreading financial education to the Indian population, MMM is dedicated to resolving consumer queries pertaining to retail lending and personal finance. Whether you are looking for an affordable Personal Loan, Home Loan, Credit Card, or Insurance cover, be assured to get free help and support in searching the desired financial assistance from us.

By applying for Citibank Personal Loan through MyMoneyMantra, you enjoy following benefits:

Free loan assistance

MyMoneyMantra doesn't charge a penny from consumers. Our business model is designed to extend free service to the borrowers. We use our expertise in searching the best and the most affordable financial deals for the customers. As you apply for a loan through our website, we draw a commission from the lender. Our tie-ups ensure that customers get discounted deals without any additional burden on their pockets. We search, assist, guide and seal the best deal for our customers.

Access to the best offers available

As you connect with MyMoneyMantra, you get access to the best deals available in the market. All you need to do is choose the one according to your budget and repayment capacity.

Loan according to your budget

Irrespective of your ticket size, you can make use of MyMoneyMantra Loan advice. We search for customised deals for each borrower. You can conveniently share your preferences with our executives, and they will run a search according to your needs.

Informed Decision

We educate borrowers so that they can make informed decisions. We ensure that there are no last minute surprises for the borrower at any stage.

How to Apply for Citibank Personal Loan on MyMoneyMantra?

It is a step-by-step process to apply for Personal Loan on MyMoneyMantra. All you need to do is follow a form on the Home Page of the official website. You can also access the form by visiting Personal Loan Menu.

Next, share your personal details to establish an online identity: Name, age, gender, the city of residence, employment type, annual income, loan requirement, contact details, etc.

An OTP is created and sent to register your customer ID. Use OTP to verify your identity.

Now get access to the best deals listed according to your preferences. Apply or e-connect for a loan on MyMoneyMantra Website. This will instantly start your loan application. A customer executive will call you and answer all your loan queries. They will assist you at each step: from application to approval, sanction to disbursal.

We will arrange a doorstep pick-up of documents (by the chosen lender) for you. So, you do not need to worry about the nitty-gritty of filling up documents.

After the submission of your loan application, we will follow up with the lender for timely loan disbursal.

In all, applying for Citibank Personal Loan is completely hassle-free and convenient for the borrowers through MyMoneyMantra.

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