{"buttonLabel":"Check Eligibility","productCollection":"personal_loans","productId":"17","productLink":"https:\/\/ad.admitad.com\/g\/nkwgobgsho2bc4fc0fc8d0c9059875","productName":"Citibank Personal Loan for Salaried"}
{"buttonLabel":"Check Eligibility","productCollection":"personal_loans","productId":"17","productImage":"referral_logos\/in\/loans\/citi-1","productLink":"https:\/\/ad.admitad.com\/g\/nkwgobgsho2bc4fc0fc8d0c9059875","productName":"Citibank Personal Loan for Salaried"}

Citibank Personal Loan Review: Interest Rates @ 9.99%

Citibank provides some of best personal loan offerings in India.

Citibank Personal Loan Review: Interest Rates @ 9.99%

Citibank provides some of best personal loan offerings in India.

Editor's Rating


Good for

  • Salaried Individuals
  • Individuals seeking a personal loan with fixed interest rates

Bad for

  • Individuals seeking personal loans with tenures of less than 1 year or more than 5 years

The Citibank personal loan charges one of the lowest interest rates in India, starting from 9.99%. Additionally, the bank offers loan amounts up to Rs. 30 lakhs, with the option of a personal loan top up. ValueChampion recommends the Citibank personal loan as a first choice to both salaried and self-employed borrowers that meet the bank's eligibility criteria.

Summary of Citibank Personal Loans
Interest rates: 9.99% to 16.49%
Loan amounts: Rs. 10,000 to Rs. 30 lakh
Loan tenures: 3 months to 5 years
For salaried and self-employed borrowers

Table of Contents

What Makes Citibank Personal Loans Stand Out to Borrowers

Citibank is known for its low interest rates and large personal loan amounts up to Rs. 30 lakhs. Additionally, the lender provides personal loans to self-employed borrowers, which is not common amongst most other popular lenders.

If you are seeking a short term loan, Citibank is a great option to consider for your personal financing needs. The bank allows flexible repayment with a minimum tenure of 3 months, while most personal financing companies have a one year minimum.

Citibank Personal Loan Interest Rates

Citibank personal loan interest rates starts from 9.99%, making it one of the lowest rates in India
Based on minimum interest rates for standard personal loans. Rates are subject to change.
Citibank personal loan interest rates starts from 9.99%, making it one of the lowest rates in India
Based on minimum interest rates for standard personal loans. Rates are subject to change.

Citibank personal loan interest rates are in the top 3 lowest rates amongst the banks we analysed. The most eligible borrowers can avail rates as low as 9.99%. However, even the lender's maximum rate of 16.49% is low compared to other lenders who can charge up to 30.00% interest.

Interest Rates for Salaried Applicants

Monthly SalaryLoan AmountInterest Rate
Less than Rs. 60,000Less than Rs. 5 lakh12.99% - 14.24%
Rs. 5 lakh - Rs. 10 lakh11.99% - 13.24%
Rs. 10 lakh or more10.99% - 12.24%
Rs. 60,000 - Rs. 1 lakhLess than Rs. 5 lakh12.25% - 13.50%
Rs. 5 lakh - Rs. 10 lakh11.50% - 12.75%
Rs. 10 lakh or more10.50% - 11.75%
More than Rs. 1 lakhLess than Rs. 10 lakh10.50% - 11.75%
Rs. 10 lakh or more10.50% - 11.75%

Your final interest rate will be determined by your CIBIL score and loan tenure, amongst other factors. As a rule, Citibank loan tenures greater than 4 years will have a higher interest rate.

For more information on interest rates for self-employed borrowers, contact Citibank customer service.

Citibank Personal Loan Eligibility Criteria

Consider this if you seek a large loan at low rates

Min. Loan Amount Rs. 10,000
Max. Loan Amount Rs. 30 lakh
Processing Fee Up to 3.00%
Interest Rate Type Fixed
Loan Tenure 3 to 60 months

Citibank personal loan eligibility can go as high as Rs. 30 lakhs, which is good for borrowers who are seeking a large personal loan. Additionally, the lender offers top up loans for borrowers who are in need of additional funding.

The lender provides personal loans to both salaried and self-employed borrowers, which is not common amongst most of the banks that we analysed. In terms of other eligibility criteria, Citibank does not advertise many details on their website. We recommend that you check with Citibank customer service for more information on age requirements and income requirements.

Processing Fees and Other Charges

Processing Fee (for loans less than Rs. 10 lakhs)0.99% to 2.00%
Processing Fee (for loans more than Rs. 10 lakhs)0.50% to 0.99%
Late Payment ChargesNone.
Preclosure Charges4.00% of principal outstanding + interest for ongoing months

Citibank charges a one-time processing fee that ranges from 0.25% to 3.00% depending on your employment type and loan amount. This is standard charge in India, but it is important that you calculate extra costs and compare it to multiple lenders.

The bank advertises no late payment charges, which is unique as most lenders charge 2.00% of the late EMI. However, the lender's 4.00% foreclosure charge is considerably high. If you plan to pay down your loan in advance, we recommend that you consider Bajaj Finserv or State Bank of India for lesser charges.

Citibank Personal Loan EMI Calculator

Use a personal loan calculator to estimate your EMIs before applying. By inputting your personal loan interest rate, loan tenure, and loan amount, you can plan your repayments ahead of time. Click here to use the Citibank personal loan calculator.

Citibank Personal Loan Payment Schedule

Our team of financial analysts calculated an example EMI repayment schedule for borrowers, as seen below.

Stage of TenureEMIInterest PaidPrincipal PaidOutstanding Balance
Year 1₹63,726₹277,806₹486,910₹2,513,090
Year 2₹63,726₹226,873₹537,843₹1,975,246
Year 3₹63,726₹170,613₹594,103₹1,381,143
Year 4₹63,726₹108,468₹656,249₹724,895
Year 5₹63,726₹39,822₹724,895₹0
Based on an Rs. 30 lakh personal loan over a 5 year tenure. Interest rate is set at 10.50% per annum, with no processing fee calculated in the outstanding balance.

Citibank Personal Loan: Apply Online

Citibank has a standard online application and minimal documentation requirements. Loan application decisions return within 4 hours on business days, while loan disbursal is completed within 48 hours of approval.

If you are a Citibank Suvidha customer, you can simply speak to a customer service representative or fill out an application online for instant approval.

Citibank Personal Loan Documents

You are required to submit documents for proof of identity, residence and income. Below, you can find income document requirements for salaried and self-employed borrowers.

  • Salaried borrowers: Last 2 payslips (no more than 3 months old), last 3 months' bank statements
  • Self-employed borrowers: 1 year income tax return, computation of income schedule, 1 year P&L, last 3 months' bank statement

We recommend that you confirm your requirements before applying for a Citi personal loan.

Citibank Personal Loan Customer Care

If you have any queries about the Citi personal loan or would like to check the status of your loan, contact Citibank customer care through any of the methods below.

William Hofmann

William is a Product Manager at ValueChampion Singapore, helping consumers and SMEs find the best banking products through comprehensive analysis of data. He previously was an Economic Consultant at Industrial Economics Inc, where he conducted a variety of research and economic analyses. He graduated from University of Vermont with degrees in Economics and Psychology. His work has been featured on a variety of major media such as the Straits Times, the Business Times, the Edge, DailySocial, the Entrepreneur and more.