Get a solution for Citibank Personal Loan at a Low-Interest Rate
Citibank is known for the Indian banking sector for more than a century. With its known facts it is one of the most sought-after banks for personal loans. This makes the user to get convenient and hassle-free solution offered by Citibank Personal Loan. However, it gives various benefits for seeking personal loans to individuals.
Benefits of Citibank Personal Loan
It is one of the known banks offering interest at a low rate. If you are planning to get a personal loan at this rate then, you should check out the benefits mentioned under:
- Minimum documentation required for existing customers.
- Quick processing time of 48 hours.
- Highest personal loan amount of up to Rs. 30 lakhs.
- Full and part-prepayment options available for the user.
- Flexible repayment tenure starting from 12 months up to 60 months.
- The fixed interest rate for monthly payments.
- Balance transfer of credit card and personal loan outstanding.
- Top-up loan facility on existing personal loans with Citibank.
Interest Rate and other fees of Citibank Personal Loan
| Income Category | Rate of Interest | Processing fees |
| Salaried Individuals | 10.99% – 14.50% | 0.25% – 2.0% |
| Self-employed Non-professionals | 17.49%- 18.99% | 2.00% – 3.00% |
| Self-employed Professionals | 16.00% – 17.99% | 2.00% – 3.00% |
| Instant Personal Loan | 13.00% – 14.50-% | 1.50% – 2.00% |
The above list of interest rates and other fees will help you to avail of the loan. However, you can easily choose the loan amount starting from 10.99% up to 14.50% for salaried individuals. The interest rate is not the same for every customer.
Factors affecting Citibank Personal Loan
Citibank personal loan interest rates are determined based on various information you offered in the loan application. However, the bank considers a few important factors that can fix your loan amount and interest rate eligibility:
- Credit Score: The credit score of the applicant is a comprehensive rating of your creditworthiness. Before applying for the loan you must know the loan repayment capacity. If you have a higher credit score, it is better to make the repayment capacity and bound to get a better deal on your interest rate.
- Income
Most banks prefer their customer who can comfortably pay their EMI amount after considering their present liabilities. However, if the user has a higher income ensures that the borrower is not faced with the loan repayment. Hence, the individual with higher income gets better interest rates.
- Employment type and Employer
The applicant should be working in a reputed organization, which means the user should be in good stability and regular income flow for the applicant. This helps the user to turn and assures the bank of the user’s repayment capability. Thus, an individual should be working in a reputed organization with a positive effect on your interest rate eligibility.
- Relationship with the lender
It is important for the user to have a good relationship with the bank, if you have good financial stability then you are offered various benefits like instant approval, low-interest rate, and higher loan amount.
The Loan Amount and Tenure
| Minimum and Maximum loan amount | Rs.25000 up to Rs.30,00,000 |
| Minimum and tenure | 6 months up to 60 months |
| Booking fee | 3.00% of the loan amount sanctioned; deductible from the loan amount at the time of disbursal |
| Late payment charges | NIL |
| Pre-closure charges | Up to 4% on principal outstanding including current month interest |
How to apply for Citibank Personal Loan?
Citibank offers personal loan with the help of these process mentioned as:
- Citibank offers an easy and convenient process for everyone to access their services through the official website, customer care phone number, or SMS.
- As an existing customer of Citibank, you can log in to internet banking and place a request for a personal loan according to your choice.
- A new customer can click the option “click for call” feature on the website to register the willingness for a personal loan, after which a Citibank representative.
- You can also send an SMS to the number mentioned on the Citibank website to receive a call back from the bank.
Citibank Personal Loan Eligibility Calculator
Afinoz has designed an online personal loan eligibility calculator to help the customers and check the eligibility before applying for Citibank Personal Loan. You can check the eligibility for a personal loan from Citibank within a few minutes with the help of basic information. Whether it is related to your income, loan amount, or any other employer as a salaried or self-employed individual.
Conclusion
Availing personal loans from Citibank can benefit you in various ways as it comes at a low rate of interest, flexible repayment tenure, and also offer a high loan amount in order to help you to fulfill all of your financial requirements. We hope that this article has helped you and provide you with the information you were looking for.
Read More:-
Ease your Life with Low-Interest Rate UCO Bank Personal Loan
