Citibank Personal Loan

There are many reasons for a personal loan can come in handy. For some, this is often a relief from excess spending and high credit card outstanding loans that need to be paid. For others there are emergencies of medical bills and even pay rent or travel expenses when you are suddenly transferred at your job to a new place. What makes Citibank personal loan an easier choice for many is that it is easy to avail as there is uncomplicated paperwork. You do not need a guarantor or collaterals to get access to an amount even if it is as high as 15 lakhs in some cases.


Here is a closer look at the major features of a Citibank personal loan.


  • No security or collaterals

  • Simple paperwork

  • Money access within 24 hours of applying

  • Easy to avail EMI repayment scheme

  • Repayment tenures can be extended to 60 months

  • Maximum amount available is 15 lakhs


Citibank Personal Loan Interest Rates


The rates of interest will vary between 15% and 20%. There are a few additional terms and conditions applicable for a customer depending on internal policies of the bank. These will depend on the credit history of the customer as well as the loan amount.


Repayment of Citibank Personal Loan


The duration of Citibank personal repayment can be from 12 months to a maximum of 60 months. There will be an EMI option of repayment and the exact amount will be calculated at the time of giving you the loan. The amount of EMI will however depend largely on the exact loan amount that has been sanctioned and the interest rate levied. The tenure will also determine the amount you have to pay each month within a specified date.


There are two available options of EMI payments made directly from your bank account. The ECS or thee electronic clearance system allows personal loan department to access the EMI amount directly from your bank account with any bank and branch. For Citibank account holders there can be a standing instruction given for the debit of the same amount directly from the account.


Citibank Personal Loan Documents Required


There is a simple process of paperwork involved for acquiring a Citibank personal loan. However there are few documents and proofs that will have to be furnished to the department of the bank so that accurate information about you is available.


Here is a list of documents that you need to furnish for a personal loan.


  • Proof of identity

  • Proof address

  • Signature verification and proof

  • Bank statements

  • Proof of income


All documents will have to be photocopied and submitted with a verification and signature from a government official of a rank that will be stated. You will also have to submit a bank loan application form that will be given to you separately and furnish all details in writing or as specified.


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