Citibank was founded in the year 1812 in New York City. This bank is functioning for more than 200 years and renowned for financial products like home loan, personal loan, business loan, credit cards etc. The Citibank India is a subsidiary of Citibank and one can avail any of the above mentioned financial products from Citibank.
In India, the Citibank personal loan is one of the bestselling products and all for good reasons. There are numerous benefits that can be enjoyed by availing a personal loan from Citibank. Let’s understand what makes a personal loan from Citibank a special one.
The Benefits of Citibank Personal Loan
Bigger Loan Amount
Citibank offers its customers’ loan amount up to Rs.30,00,000. The loan amount can be used for any of personal use excluding investment in gold and unlawful activities. The loan amount is determined depending on the repayment capacity of the loan seeker. The repayment of Citibank personal loan is done in EMIs.
Disbursal in Just 48 Hours
If you fulfil all the eligibility criteria and the documents you submit are free from errors, it takes just 48 hours or two business days to get approval and disbursal of the loan. So a Citibank personal loan can be the best financial tool to fight against financial emergencies.
Flexible Repayment Options
The loan tenure of Citibank personal loan ranges from 12 months to 60 months. So you can either opt for shorter tenure to pay off the loan sooner or longer tenure to make the EMI amount smaller. You can opt for any tenure according to your budget.
Citibank Personal Loan comes with a fixed rate of interest which keeps the EMI amount constant till the tenure ends. The market fluctuations will impact neither your loan tenure nor your loan EMI amount. You can check the EMI calculator on the website of Citibank to find the exact amount of EMI you are about to pay for a certain amount of loan.
An existing customer of Citibank can avail an overdraft on their existing loan. One can get access to additional funds from Citibank if they are servicing any of the loans from this bank. If you are in need of a loan overdraft, you can simply make a call to the customer care and your overdraft will be sanctioned.
To avail a loan from Citibank, one needs to submit only the basic documents like identity proof, address proof and income proof. If you are an existing customer of Citibank getting a Citibank Personal Loan is as easy as logging in to your Citibank Online account. You can track online your loan application and get each and every detail of the loan via mobile application of the bank.
Prepayment and Part-Prepayment Facility
Citibank offers you prepayment and part payment facility on your personal loans. If your loan account is created after October 1, 2015, you can pay it off after completion of the first 6 months. Loans sanctioned before October 1, 2015, can pre-close the loan anytime by calling 24×7 CitiPhone helpline.
Debt Consolidation Facility Available
You can consolidate your costly existing loans or credit card dues by applying for a debt consolidation loan at Citibank. Debt consolidation makes your multiple loans convert to one loan so that the payments can be streamlined. You can avail a low-cost debt consolidation loan from Citibank to pay off all your existing loans.
To Sum UP
A personal loan from Citibank can be your helping hand to fight emergencies as well as chasing your dreams. The Citibank personal loan interest rate starts at 10.99% which is very competitive. Moreover, the online application and approval on the loan make a personal loan from Citibank best to fulfil all your monetary needs.