Description

Citibank offers an instant personal loan at affordable interest rates. It is an unsecured personal loan and the available loan amount is as high as Rs. 30 lakh. You can use the loan for any personal expenses without restrictions. If you want to get a personal loan from Citibank but not sure whether you will qualify for the loan, you can use Citibank personal loan eligibility calculator. While checking your eligibility, you will also find out Citibank personal loan interest rate

What are the Citibank personal loan eligibility criteria?

Citibank offers a personal loan to both salaried professionals and self-employed individuals. To get a personal loan from Citibank, you will have to meet the following eligibility criteria:

Age

  • Salaried employees: 23 to 60 years
  • Self-employed: 23 to 65 years 

Minimum income 

Rs. 25,000 for salaried employees; Rs. 1,40,000 per annum for self-employed individuals

CIBIL score

750 or above

Loan amount

From Rs. 50,000 to Rs. 30 lakh

Loan tenure

1 year to 5 years

Interest rate

9.99% p.a onwards

Processing fees

Up to 3% of the loan amount + GST

 

What is the Citibank personal loan eligibility calculator?

You can check your eligibility for Citibank personal loan on the bank’s official website. Fill the required fields like full name, mobile number, city, monthly net take home salary and PAN number.

 You can also know your eligibility for Citibank personal loan through Afinoz.com. Here are the steps you need to follow to check your personal loan eligibility:  

  • Click on ‘Apply Now’ link under the personal loan section on the home page of Afinoz.   
  • Share required information like loan amount you need, monthly income you earn, existing EMI (if any), mobile number, employer details, etc. and submit the request. 
  • After the completion of application, you will see the personal loan offers from multiple lenders on the next page, including Citibank Personal Loan based on your eligibility. 

 

Factors that may affect the Citibank Personal Loan Eligibility

  • Age: Age is an important factor considered by a lender when they assess a personal loan application. Each bank sets minimum and maximum age criteria to grant the personal loan. If the applicant is too young or too old, they won’t be granted the loan. Citibank offers a personal loan to applicants aged between 20 and 60 years. 
  • Financial position: Financial position of an applicant plays a crucial role in a personal loan application as it defines the ability of the applicant to repay the loan. If the applicant has a good income, the bank will be more inclined to offer the loan. Since the applicant has sources to repay the loan, it reduces the risk of default. The minimum salary required to get a Citibank personal loan is Rs. 25,000 per month. 
  • Employment: Employment and employer type affect the personal loan eligibility a lot. Salaried employees working with government organizations and reputed private companies have more chances of getting a personal loan at favourable charges.    
  • Location: Location of residence is also an important factor considered for a personal loan. Individuals living in urban cities have more chances of getting a personal loan than those in rural areas.  
  • Credit score/history: Personal loan is a collateral-free loan. It is granted on the basis of income and credit score of an applicant. Hence, while assessing a personal loan application, lenders look at the credit history of applicants. Individuals who have a good track record of credit management are considered less risky customers and have a good credit score. If your credit score is equal to or above 750, banks will easily approve your application for a personal loan. 

Documents Required for Citibank Personal Loans

Citibank offers a personal loan for both salaried employees and self-employed individuals alike with minimal documentation and instant approval. You need to fill a personal loan application form and upload supporting documents to apply for the Personal loan.  

Here are the documents you need to keep handy while applying for Citibank personal loan:

Type

Documents for salaried employees

Documents for self-employed applicants

Photo

Passport size photographs

Passport size photographs

Identity proof

One of the following:

  1. Passport 
  2. Driving License 
  3. Voter's Identity Card 
  4. Job Card issued by NREGA
  5. Aadhaar/eAadhaar 
  6. National Population Register (containing details of name and address)

One of the following:

  1. Passport 
  2. Driving License 
  3. Voter's Identity Card 
  4. Job Card issued by NREGA
  5. Aadhaar/eAadhaar 
  6. National Population Register (containing details of name and address)

Proof of residence

One of the following:

  1. Passport
  2.  Driving License 
  3. Voter's Identity Card 
  4. Job Card issued by NREGA 
  5. Proof of possession of Aadhaar number, i.e. Aadhaar/eAadhaar
  6. National Population Register (containing details of name and address)

One of the following:

  1. Passport
  2.  Driving License 
  3. Voter's Identity Card 
  4. Job Card issued by NREGA 
  5. Proof of possession of Aadhaar number, i.e. Aadhaar/eAadhaar
  6. National Population Register (containing details of name and address)

Employment length/ business continuity proof 

  1. Letter from employer
  2. Payslips/ Form 16
  3. HR check by designated CPA resources
  1. Lease Deed/Rent Receipts 
  2. Ownership documents 
  3. Utility bills
  4. Tax returns from the same city 
  5. 3-year old bank statement

Income proof

  1. Payslips for the last 3 months
  2. Bank statement for the last 3 months 
  1. 1. 1-year Individual IT Return 
  2. 2. Computation of Income Schedule 
  3. 3. 1-year audited P&L 
  4. 4. Last 3 months bank statement

Borrowers can use a personal loan EMI calculator to calculate their instalments every month. 

FAQs

Q1 What is the age limit for Citibank personal loans?
The minimum age required to get a personal loan from Citibank is 23 years for both salaried and self-employed individuals. Maximum age for salaried applicants is 60 years and 65 years for self-employed individuals.
Q2What are Citibank personal loan interest rates?
Citibank offers a personal loan at affordable interest rates starting from as low as 9.99% up to 16.49%.
Q3What are the processing charges applicable on Citibank personal loans?
Citibank charges a processing fee up to 3% of the loan amount sanctioned. The processing charges will be deducted from the loan amount at the time of disbursal.
Q4 How can I get in touch with Citibank for any queries about a personal loan?
For questions regarding a personal loan, you can dial Citibank customer care at 1860-210-2484. Customers residing outside India can call (+91) 22-4955-2484.