Applying for Citibank Personal Loan Online is quite easy and also, it is available at a rate of interest starting from 9.99% p.a. only. Besides, it has a flexible tenure of up to 5 years to repay a loan amount that can range up to Rs. 30 lakh depending on the eligibility of the applicant. Not only that, the loan has multiple attractive features as follows.
|Available Loan Quantum||Rs. 10,000 to Rs. 30 lakh|
|Available Repayment Tenure||3 months to 60 months|
|Rate of Interest||9.99% to 16.49%|
|Processing Fee||0.50% to 3% on the sanctioned loan amount|
|Stamp Duty||According to the Stamp Act of the state|
|Late Payment Charges||4% on the outstanding principal|
The rate of interest on Citibank Personal Loan will depend on the net monthly income of the applicant.
|Net Monthly Salary||Rate of Interest (p.a.)|
|<Rs. 60,000||10.99% onwards|
|>= Rs. 60,000 <Rs. 10 lac||10.50% onwards|
|>= Rs. 1 lakh||9.99% onwards|
However, the other eligibility components and tenure of the loan will also help to decide the suitable rate of interest on the available loan amount.
Citibank offers the part-payment facility only after the successful payment of the first 12 instalments. Part-payments are not chargeable, but it has a condition. The part-payment amount can’t be lower than 2 months’ total EMI or higher than 5 months’ total EMI. The EMI amount after availing of the part-payment facility will be intimated by the bank.
On the contrary, pre-payment is chargeable and a borrower can avail of the facility only after the successful payments of the first 6 EMIs. 4% fees will be charged on the outstanding principal amount at the time of full and final settlement.
Citibank offers a top-up to the existing borrowers of personal loans to manage any additional financial requirement. On the other hand, the balance consolidated loan is offered to the existing borrowers to repay their existing credit card debt and personal loans with other lenders. A borrower can consolidate the amount and get the balance consolidated loan at a more flexible and lower rate of interest.
Salaried individuals, self-employed professionals, and business owners can apply for the Citibank Personal Loan Online, and the eligibility criteria are mentioned below.
|Age of the Applicant||21 years to 60 years|
|Income Requirements||Minimum Rs. 25,000 per month
Minimum Rs. 5 lakh (gross) for other than salaried individuals
The following documents will be required to apply for Citibank Personal Loan Online and proceed with the loan application.
|For Identity||Passport size photograph
Voter’s ID Card
School Leaving Certificate
Voter’s ID Card
Letter from Employer
|For Income||Recent Salary Slips of 3 months
Bank Statements of 3 months
|For Employment Length||Form-16
Letter from Employer
Go to Roopya’s website and search for Citibank Personal Loan. Check the eligibility criteria, and use the EMI calculator to calculate the EMI. Now put details on the required fields. Then proceed with uploading the documents. Then you’ve to wait for a few hours for the approval. After the approval, a representative will collect the copies of the required documents, and your loan will be processed and credited into your account within 2 days.
Citibank Personal Loan can be used to fulfill multiple financial requirements regardless of their nature. So, you can state or avoid informing the reason for taking such a loan.
The commencement of EMI payment will start from the succeeding month of the loan sanctioned and the probable due date can be on the first week of that month.
The e-approval will take a few hours and the disbursement can take up to 48 hours.
You should be a salaried individual, self-employed professional, or a business person to take Citibank Personal Loan.
To avail of the part-payment facility, you have to successfully pay the first 12 EMIs of your Citibank Personal Loan.
No, Citibank doesn’t charge any late fees on the late payments.
You can either visit the nearest branch of Citibank or can call on 1860 210 2484 to know about the status of your Citibank Personal Loan application.
To contact the customer care division of Citibank you can call on 1860 210 2484, and if you reside outside India, then you can dial 022-4955 2484.
To avail of the pre-payment facility, you have to call on 1860 210 2484 within 9 am to 7 pm except for Sundays and national holidays.