Citibank offers personal loans at attractive interest rates starting as low as 10.50% p.a. You can avail loans of up to Rs. 30 Lakhs to meet various personal financial expenses with minimal documentation and a repayment tenure extending up to 60 months. Key aspects of Citibank personal loan interest rate such the interest calculation method adopted by the bank, interest rate for different types of Citibank personal loans, factors affecting interest rate and more are discussed in subsequent sections.
Citibank Interest Rate for Different Types of Loans
Citibank offers personal loans at an attractive interest rate starting as low as 10.50% p.a. However, interest rate applicable to a particular applicant varies with the person’s individual applicant profile, the loan amount and tenure desired, etc. The table below gives the range of interest rates within which different types of Citibank personal loans are offered to individuals: The interest rate (fixed) for Citibank Personal Loan varies from 10.50% to 16.49% p.a. based on the applicant’s quantum of loan, income, credit score and loan tenure.
For salaried applicants working with categorized corporates (tenure up to 4 years)
| Income | Loan Amount | Interest Rate |
| Net take home lower than Rs. 60,000 | Less than Rs. 5 Lakhs | 12.99% – 13.99% |
| Rs. 5 Lakhs and above but less than Rs. 10 Lakhs | 11.99% – 12.99% | |
| Rs. 10 Lakhs and above | 10.99% – 11.99% | |
| Net take home Rs. 60,000 and above but less than Rs. 1 Lakh | Less than Rs. 5 Lakhs | 12.25% – 13.25% |
| Rs. 5 Lakhs and above but less than Rs. 10 Lakhs | 11.50% – 12.50% | |
| Rs. 10 Lakhs and above | 10.50% – 11.50% | |
| Net take home above Rs. 1 Lakh | Less than Rs. 10 Lakhs | 10.50% – 11.50% |
| Rs. 10 Lakhs and above | 10.50% – 11.50% |
For salaried applicants working with categorized corporates (tenure above 4 years)
| Income | Loan Amount | Interest Rate |
| Net take home lower than Rs. 60,000 | Less than Rs. 5 Lakhs | 13.24% – 14.24% |
| Rs. 5 Lakhs and above but less than Rs. 10 Lakhs | 12.24% – 13.24% | |
| Rs. 10 Lakhs and above | 11.24% – 12.24% | |
| Net take home Rs. 60,000 and above but less than Rs. 1 Lakh | Less than Rs. 5 Lakhs | 12.50% – 13.50% |
| Rs. 5 Lakhs and above but less than Rs. 10 Lakhs | 11.75% – 12.75% | |
| Rs. 10 Lakhs and above | 10.75% – 11.75% | |
| Net take home above Rs. 1 Lakh | Less than Rs. 10 Lakhs | 10.75% – 11.75% |
| Rs. 10 Lakhs and above | 10.75% – 11.75% |
Also Compare: Interest rate offered by top Banks/NBFCs on Personal Loans
Citibank Personal Loan Balance Transfer Interest Rates
The balance transfer facility offered by Citibank enables you to transfer your existing personal loan with a different lender to Citibank. The balance transfer helps you streamline and manage your finances in a better way and take advantage of a more flexible repayment tenure and lower interest rate. Citibank personal loan balance transfer interest rate starts at 10.50% p.a.
To know more about personal loan balance transfer – Click here
Citibank Interest Rate Comparison
| Banks/NBFCs | Interest Rates(p.a.) | |
| Axis Bank | 11.25% onwards | Apply Now |
| IndusInd Bank | 10.49% onwards | Apply Now |
| IDFC First Bank | 10.99% onwards | Apply Now |
| HDFC Bank | 10.85% onwards | Apply Now |
| ICICI Bank | 10.85% onwards | Apply Now |
| Kotak Mahindra Bank | 10.99% onwards | Apply Now |
| Tata Capital | 11.99% onwards | Apply Now |
| Federal Bank | 12.00% onwards | Apply Now |
| DMI Finance | 12.00% - 40.00% | Apply Now |
| L&T Finance | 12.00% onwards | Apply Now |
| Kreditbee | 16.00% - 29.95% | Apply Now |
| MoneyTap | 13.00% onwards | Apply Now |
| Piramal Finance | 12.99% onwards | Apply Now |
| Aditya Birla | 10.99% onwards | Apply Now |
| Moneyview | 14%-36% | Apply Now |
| Cashe | 27.00% onwards | Apply Now |
A comparison of the key features of a personal loan from Citibank with other top lenders in India is given below:
How to Get Low Interest Rates on Citibank Personal Loan?
The following tips could help you secure Citibank personal loan at a lower rate of interest:
- Try and maintain a good credit score (750 or above)
- Maintain a stable employment history
- Pay your EMIs and credit card dues on time
- Minimize your existing debt
- Good existing relationship with the bank/lender
Check Your Free Credit Score to know personal loan eligibility Check Now
What factors affect personal loan interest rates?
Given below are some key factors which affect Citibank personal loan interest rate:
- Credit Score: Credit Score is a 3-digit numeric representation of a person’s credit history and helps lenders assess the risk involved in lending money to a person. A good credit score indicates higher credit-worthiness and lower risk of default for the lender. It increases the chances of your loan application being approved. It may also lead to the applicant being charged a lower rate of interest on personal loans.
- Age of the Applicant: The applicant’s age also often affects the interest charged by the lender. For instance, the closer you are to your retirement, the higher is the interest rate.
- Relationship with the bank: Having a good existing relationship with the bank such as a savings or salary account, etc. may enable you to secure a lower rate of interest on your personal loan.
- Employment Details: Applicants having a stable job and employment history or those working with reputed organizations may be charged a lower rate of interest on personal loans. The nature of employment of the applicant – whether the person is self-employed or salaried, also often affects the interest charged by the lender.
- Level of Income: The interest charged by the lender is also often influenced by the income level of the applicant. Often a lower rate of interest is charged on personal loans from applicants with higher annual incomes as they pose a relatively lower risk to the lender and are expected to have a better repayment capacity. On the other hand personal loans may be offered at higher interest rates to applicants with lower annual incomes.
- Loan Amount and Tenure Desired: Generally, a longer repayment tenure and greater loan amount results in higher rate of interest on personal loan and vice versa.
Also Check:- Citibank Customer Care
FAQs
Q. Who can avail a personal loan from Citibank?
All salaried as well as self-employed applicants can avail a Citibank personal loan, provided they meet the bank’s eligibility criteria.
Also Know: What is Personal Loan Eligibility Criteria for a Salaried Person?
Q. What are the minimum and maximum loan amounts that I can secure on a Citibank personal loan?
The minimum amount that you can secure on a Citibank personal loan is Rs. 1 Lakh and the maximum is Rs. 30 Lakhs.
Q. What are the tenure options available on Citibank personal loans?
Citibank personal loans come with a repayment tenure ranging between 12 to 60 months.
Q. How does Citibank calculate the interest payable on its personal loans?
Citibank uses the reducing balance method to compute the interest payable on its personal loans. The reducing balance method involves calculating interest only on the outstanding loan principal every month. Thus, the interest payable decreases as the outstanding loan amount decreases every month.
Q. How long does Citibank take to disburse its personal loans?
Once all the required documents are received and verified and the loan is approved, the bank usually takes only 48 hours to transfer the loan amount to your bank account. However it may take longer in some cases based on loan amount and other applicant profile-related factors.