All you need to know about the Citibank Loans.

Citibank Personal loan is for any of your personal requirements - personal or business. You can use it for your child's higher education, purchasing consumer durables or a personal computer, a car or a two wheeler, to meet the expenses of family functions, to go on a vacation, to consolidate your expensive debt into a cheaper debt - or just about anything!

Citibank Personal Loan is currently available for salaried individuals, self-employed professionals and business owners. Existing Citibank customers with a Suvidha, Branch or a Mortgage relationship can avail of Personal Loan.

Yes, you might be eligible for an additional amount if it has been a year or more since you have availed of your loan. To find out if you are eligible, please contact 24-Hours CitiPhone Priority Service Numbers or raise your query by logging on to www.citibank.co.in using your IPIN.

Please fill the form in the Apply Now tab and our representatives will be glad to help you. You can contact our CitiPhone Banking representatives and we would be glad to take this forward.

You can avail of a personal loan of up to Rs. 25 lakhs, subject to internal Citibank credit parameters.

We offer competitive interest rates depending on our analysis of your Credit background basis internal parameters. Broadly, we offer interest rates from 15.5% & 22%.

The loan can be disbursed within 48 hours. Timelines would commence once you submit the entire documentation as per our requirements.

You would not require providing any security or collateral for the loan.

• Documents verifying Identity, Signature and Address must be provided
• Completed Application Form
• Income documents like latest salary slip/Bank Statements

Click here for a complete list of documents.

At present, we carry out a change in address only on the basis of written communication from the customer. This is done for security reasons. If you want to make changes in your communication details (residence or official address, telephone number, mobile number, E-mail ID), kindly send a signed letter requesting for the change to:

P.O. Box # 4830, Anna Salai Post Office, Chennai - 600 002.

A welcome letter will be sent to your mailing address within a week of sanction of Personal loan. The welcome letter contains:

• Loan Amount Disbursed
• Tenure of Loan
• EMI Amount
• Interest Rate Applicable
• Ideal Repayment Schedule

Processing fee is a non-refundable upfront fee payable by you towards expenses incurred by the bank over the tenure of the loan and is as per the Terms and Conditions of your agreement with us. This amount is deductible from the loan amount disbursed to you. Hence, the amount disbursed will be the difference between the sanction amount and the loan origination cost. There are no other hidden costs or administrative charges.

The Booking Fee is an upfront fee payable towards expenses incurred by the bank over the tenure of the loan and is as per the Terms and Conditions of agreement with the bank. The Booking Fee is non-refundable whether or not the loan is used.

You can repay your loan over a period of 12 to 60 months.

At the time of booking of your loan, the EMI (Equated Monthly Installments) is calculated based on the loan amount sanctioned, interest rate and tenure.

For your convenience, we provide two options through which you can repay your loan:

Electronic Clearing Service (ECS): If you have a bank account with any bank other than Citibank, you can give us an instruction to directly debit your bank account every month for the EMI amount.

Standing Instruction (SI): If you have a Citibank account you can give us instructions to directly debit your Citibank account every month for the EMI due.

The first repayment is due from the month after we have disbursed the loan. For example, if we disburse the loan in January (including the 31st) the repayment will start from 1st February. The interest will be charged from the date of disbursal.

If there is a delay in the payment of an EMI, an additional interest of 2% on the Principal Outstanding is levied on the account. Penal charges will not be levied to your account, as long as the payment is received by the end of every month, when it is due.

If a cheque or an ECS (Electronic Clearing System), is presented and bounces, a charge of Rs. 250, (exclusive of the Service Tax @ 10% and Educational Cess @ 0.36% of the charge), is levied on the account. For the purpose of the convenience of the customer, the ECS is presented on the 1st working day of every month in which the EMI is due. Bounce charges will be levied if the ECS bounces for the initial and subsequent presentations during the month. Financial bounces are represented in re-presentation cycle, which happens between 11^th to 15^th of every month. Please note, Bounce Charges will not be levied if alternate payment is made before the 7^th of the month.

Yes, we calculate your interest on the daily balance using the Daily Reducing Balance Method. The benefit of this method is that your interest is calculated only on the outstanding loan amount, which reduces every time you make your EMI payment or any prepayments. (Check for part prepayment)

We provide you the option of changing your mode of payment, as per your convenience. You can either change your payment mode between Standing Instruction (SI) and Electronic Clearing System (ECS)

• If you wish to change your mode of payment from SI to ECS, you can download the form from

Electronic Clearing System (ECS)

Standing Instruction (SI)

Please send us a copy of your bank statement, which shows this double debit, along with your banker's certificate to our mailing address. On verification of the same, we will issue you a refund amount from the excess payment withdrawn.

Your Loan Statement of Account showing the amount due, the interest charged and other relevant particulars will be sent during the month of March every year. If you have not received your statement, you can contact our 24-Hours CitiPhone Priority Service Numbers or download the same using your QPIN.

The repayment schedule sent to you initially is based on the assumption that the realisation of funds and the credit to your loan account occur on the 1st of the calendar month. However, the actual credit might happen later and hence interest is charged for this period. The marginal difference in the interest amount between the repayment schedule and the statement of account is due to this.

After the final settlement of your loan account, the release letter stating that you have no dues will be sent to you. Along with the release letter, any refunds due to you will be mailed to you within 15 days of closing your loan account. If you do not receive the same within 15 days, please contact our customer support officials.

You can apply for a Citibank Home Loan via:

• Citibank Online. Click here to apply now
• CitiPhone Priority Service Numbers
• Citibank branch

Home Loans are available from Rs.5lakhs to Rs.10 Crores.

Citibank Home Loans have maximum repayment tenure of up to 25 years. The actual tenure of your loan is subject to the bank's discretion.

Based on the valuation of your property, you can avail a Home Loan of up to 80% of your property value.

You should be at least 23 years of age and have work experience of at least 2 years to avail a Home Loan from Citibank.

Repayment capacity is based on factors such as income, age, tenure, etc. You can also include your spouse's income to further enhance your Home Loan eligibility. The inclusion of such income is subject to Citibank discretion.

Yes, based on your income and capacity to repay, we can give you an in principle approval for a Home Loan. Based on the approved loan amount, you can easily identify the property you need to buy. However, the property should meet Citibank Credit parameters for obtaining a final sanction.

Yes, once you have completed repayments on your existing loan for more than 6 months, we offer you an additional top-up loan on your existing Home Loan. The final sanction of such loan is at the discretion of Citibank.

EMI stands for Equated Monthly Instalments. This instalment includes both the Principal and Interest Components. Citibank Home Loans are repaid through EMIs (Equated Monthly Instalments) over the period of the loan. The table below shows indicative EMIs for different periods for a loan of Rs. 1 lakh and interest rate of 10%. Click here to find out the EMI on your loan.

Citibank offers you a host of repayment options for your loan EMI. You can pay your EMI through: SI (Standing Instruction) on your Citibank account or an ECS (Electronic Clearing System) instruction on your Non-Citibank account.

Yes, you are allowed to prepay your loan. You can also choose to make partial prepayments on your home loan. Please refer to the terms and conditions mentioned in the loan agreement to know more about the applicable charges on prepayments.

Yes, you can! You can opt for Citibank Home Credit to further reduce the interest cost on your Home Loan. To know more, click here.

Citibank Ready Credit is a personal over draft line linked to your Suvidha Salary Account. This facility is offered to employees of select corporate customers. It is a simple, easy-to-use Overdraft facility which provides account holders an Overdraft Line of up to three times of their net monthly take home salary (up to a maximum of Rs. 3 lakhs).

Account holders can apply for this facility along with the Suvidha application form, i.e. at the time of Suvidha Account Opening. Account holders may also apply separately/ later through a simple form, or call up CitiPhone and ask for this facility.

• Instant access to the assigned overdraft line ( upto Rs. 3 lakh*) in your account which can be accessed through an ATM / Citi debit card / CitiPhone / Cheques and even online through CBOL
• No Documentation/ No Post Dated Cheques and No Prepayment Penalty
• Online transactions like funds transfers, bill payments, etc possible.
• Repay the utilized amount per your comfort, subject to a minimum monthly repayment of 5% of the line utilized
• This facility remains with the account holder as long as he keeps repaying his minimum dues and meets the bank's internal criteria. There is no need to reapply for this product as is the case with other credit instruments
• Attractive interest rate
• Customers can make purchases directly using the Ready Credit Overdraft facility by selecting option 2 on the EDC machine during transactions (only at stores displaying the Maestro logo)

a. The debit/ATM Card allows you to withdraw funds directly from your Ready Credit account leaving the balance in your Savings account for other financial commitments that you may have. Just select 'Ready Credit / Current Account' while withdrawing funds from the ATM.

b. The debit card can be used to shop at all the merchant establishments using the "current account" option on the EDC machine

c. Funds transfer can be done through CitiPhone or CBOL ( Citibank Online ) and also on the Citibank Kiosk

There is an activation Fee of Rs 500/- , which is a onetime fee payable when you use this facility for the first time. An annual renewal fee is charged at 2% of the Line Amount or Rs 750/-, whichever is lower. This fee is charged on the completion of one year from the date of first usage of the Ready Credit facility.

Once the Suvidha account is opened and has 3 salary credits, the Ready Credit line automatically gets set to up to 3 times of the net salary credited in the account. To activate the account, simply use your Ready Credit account through any of the steps highlighted in FAQ # 4.

The interest is charged only on the amount used and the period used. For Example if you only use Rs. 10K for 15 days then you need to pay interest only for 15 days and not for the month. Citibank offers very attractive interest rates for its Ready Credit. The interest is calculated on a daily reducing balance and there is no pre-closure penalty charged. The interest for the amount used will have to be paid on the 1st of every month .In case there is no usage of the facility, there will be no interest payable.

You can utilize the complete amount assigned to you as your personal line of credit. However, cash withdrawal is restricted to the daily ATM withdrawal limit assigned to you. You can check the credit line assigned to you by logging on to Citibank Online (CBOL). Details of your Ready Credit Line will appear under the option - Line Amount.

Every month there is a mandatory repayment of 5% of the outstanding balance as on the day of Salary Credit, which is taken from the Suvidha Account. For example if the outstanding is Rs 50000/-, you have to pay Rs 2500/-. This amount will be earmarked from the Suvidha account for payment towards the Ready Credit account. Once the minimum due is paid off, this amount added back to your withdrawal limit on the Ready Credit line.

The interest for the amount used will have to be paid on the 1st of every month .In case there is no usage of the facility, there will be no interest payable. The minimum due towards the principal amount used is deducted on the date of salary credit.

Any amount in excess of the minimum due can be transferred to the Ready Credit Account as repayment.

The Ready Credit line remains with you till the time you have a Corporate Suvidha Salary account with Citibank. As you keep repaying the amount used earlier, the same funds become available to you on your Ready Credit account for future use.

However, since Ready Credit Account is linked to a Salary Account, the facility will cease to exist if the salary stops coming to the Suvidha Account. This could be because of a change in job. In such cases the account holder is supposed to clear the Ready Credit outstanding.

In case there is no salary credit for 45 days, this facility will be withdrawn and the account holder is required to repay the outstanding over 20 equated installment of the Principal Amount .The interest on the outstanding needs to be paid every month. This would help you close the ready Credit Account in 20 months. You can give an SI or ECS for paying the monthly dues.

In case the new employer of the customer has a Suvidha relationship with Citi, the customer can continue to use his old Suvidha account as well as the Ready Credit facility. All the customer needs to do is update his latest Office Address and Residence Address (if changed) along with the details of the new Corporate being joined. This can be done by contacting CitiPhone or the service RM for that corporate.

There is a monthly minimum due earmarked against the balance available in the Suvidha account. This means that customers can withdraw the complete amount except for the monthly minimum due of 5%. Once the minimum due is paid, the funds would be again available as withdrawal amount on his Ready Credit account.