Loan is offered to persons who are eligible as per Citi Bank Personal Loan eligibility norms that have been stated on bank’s official website and Citi Bank Personal Loan review by market experts. We at money superbazaar will provide you details about how loan is available at an easy Citi Bank Personal Loan rate, repayment options, tenure and Citi Bank Personal Loan eligibility norms subject to the fulfillment of which only will you be able to avail of it. Loan is available to help seekers meet fund shortages that may arise out of a variety of reasons, such as travel (domestic and abroad), social obligations such as weddings etc.

Citi Bank Personal Loan Interest Rate:

Loan is offered at an affordable Citi Bank Personal Loan rate that is calculated on base rate as determined by bank from time to time.

Above rate is based on reducing balance of loan principal left every month. According to Citi Bank Personal Loan review, unlike, other banks, here Citi Bank Personal Loan rate is in the range of 15% per annum - 20% per annum. Based on creditworthiness, repayment capacity of prospective borrower and other factors, bank decides effective rate for every individual borrower.

Citi Bank Personal Loan Eligibility Norms:

Loan is available to following persons as per Citi Bank Personal Loan eligibility norms:

a)    Salaried persons of government organizations, PSUs, reputed companies.

b)    Non-salaried persons such as self-employed and professionals.

c)    Above with sufficient repayment capacity.

Quantum Of Citi Bank Personal Loan:

Loan to be disbursed at Citi Bank Personal Loan interest rate to borrowers who satisfy above stated Citi Bank Personal Loan eligibility is in quantum calculated as follows:

Procedure To Be Followed While Applying For Citi Bank Personal Loan:

You may approach your nearest bank branch to avail of loan. Loan-processing takes a maximum of 48 hours. Further no security or guarantee is required either to avail of loan. Following are documents required to be submitted to avail of loan:

a)    Proof of age

b)    Residential proof

c)    Photo ID proof

d)    Proof of length of service or continuity of business of self-employed:-

i)             Salaried class: letter from employer, electricity bill, salary slip etc

ii)            Non-salaried class: lease deed / receipt of rent, electricity bill, title deed papers etc

e)    Signature by banker of bank that had issued repayment instructions

f)    Proof of income

g)    Signature proof of borrower.

According to Citi Bank Personal Loan review, if you are already a bank customer, who has had a satisfactory handling of his/her account, then top-up of loan is also available by bank.

Following Are Charges Levied At The Time Of Loan-Sanction:

a)    A minimal processing fee at 1.5% on loan amount that is over and above interest levied at Citi Bank Personal Loan interest rate.

b)    ECS or cheque bouncing fee at Rs.20, irrespective of loan amount

c)    Statement copy fee at Rs.500 irrespective of amount sanctioned as per Citi Bank Personal Loan review by various market experts.

Tenure Of Citi Bank Personal Loan:

Loan has repayment tenure that spans a maximum period of 5 years and a minimum of 1 year. According to Citi Bank Personal Loan review given, rate levied does not fluctuate during period of tenure.

Repayment Of Citi Bank Personal Loan:

Loan has to be repaid in a minimum of 12 and a maximum of 60 equated monthly installments that comprise of loan principal and interest at Citi Bank Personal Loan rate. EMI payment has to be made on the first day of every month.

Pre-Closure Of Citi Bank Personal Loan:

If you choose to repay loan before end of tenure, then you would have to pay an extra charge at 3% of loan amount that is left outstanding. Further prepayment of loan has to be such that full amount of loan that is left is disposed of. Amount to be prepaid consists of loan principal left and interest for present month at Citi Bank Personal Loan interest rate.

However, no prepayment of loan allowed within initial period of 6 months of tenure.

Default / Delay In Loan Payment Of Citi Bank Personal Loan:

If borrower does not pay EMI on the designated date every month, an extra charge at 2% on amount of loan that is left outstanding is charged. It does not bear any relation to the determination of Citi Bank Personal Loan rate for remaining period of tenure.

Product page URLof Citi Bank Personal Loan:    you may visit following link at https://www.online.citibank.co.in/products-services/loans/ready-cash-personal-loan.htm

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