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Citibank Business Loan - Apply Online @13.49%

4.8 stars based on 28 reviews

Business Loan Details

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Company Details

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Year of Incorporation/VAT/Service Tax Registration *

Turnover

FY 2016 - FY 2017 *

FY 2017 - FY 2018 *

Net Profit After Tax

FY 2016 - FY 2017 *

FY 2017 - FY 2018 *

Depreciation

FY 2016 - FY 2017 *

FY 2017 - FY 2018 *

Director/Partner Salary

(Not Applicable for Proprietorship Firm)

FY 2016 - FY 2017 *

FY 2017 - FY 2018 *

Personal Details

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Rate of Interest is high ?

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Not getting the desired Loan Amount?

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Citi Bank Business Loan Details

Citibank Business Loan

Whether you are in need of a fast track loan approval or a secured term loan, Citibank is considered as the best in this industry for business loans.  Apart from the great offers and low interest rates, the professional service and assistance is appreciated by almost each and every customer. Without any doubt, it is sure that if you are a customer to Citibank in any manner, it is equal to having an asset with you. Citibank with its CitiBusiness services provides financial solutions to micro-to-small enterprises to help them maximize their business growth. Citibank offers a customized premium banking service around the business. This bank will always have a solution for your banking needs.

Citibank Business Loan Details

Institution Type: Bank

Minimum Loan Amount: ₹ 1,000,000

Maximum Loan Amount: ₹ 15,000,000

Minimum Tenure: 12 months

Maximum Tenure: 120 months

APR: 13.49% - 20.75%

Fees & Charges: Up to 2% + GST as applicable

Features & Benefits of Citibank Business Loan

  • Minimum and maximum amount for business loan is ₹ 1,000,000 to ₹ 15,000,000.
  • With the Citibank business Loan option it is possible to get loan within 48 hours.
  • Requires minimum documentation & has simple free processing.
  • The flexible loan tenure is up to 10 years.
  • Pre-payment charges are 4%.
  • No guarantor required.
  • Conditional pre-closure and part payment options are available after 12 months.
  • Door step service is offered.
  • Top-up loan availability option is made available.
  • E-approval and balance transfer are add-ons.
  • Comparatively low business Loan Interest Rates.

Citibank Business Loan Solutions

Citibank offers 5 different solutions for the business finance requirements.

Overdrafts

The Overdraft facility provides the businesses to withdraw/utilize more money than it is available in their account. This allows businesses to tackle short-term urgent cash requirements, which are more than what is available.

Features & Benefits

  • Overdrafts are best for managing day-to-day cash flows.
  • The interest will be charged only on the amount being utilized.

Trade Finance

Citibank facilitates the financing of the trade, both domestic and international. The bank will provide the importer with the extended credit to be able to honour the payment while paying the exporter the credit settlement. The interest charged is according to the LIBOR to allow the business transactions to operate at global standards.

Features & Benefits

  • Export Finance (Pre & Post Shipment) for the exporters.
  • Import Finance (Buyers Credit) for the importers.
  • LIBOR based interest rates.

Short-term Demand Loans

The Short-term Demand Loans facility by the Citibank allows businesses to avail short-term loans with an open-ended tenure during and to repay on demand in full. This is great facility for businesses to avail short-term loans.

Features & Benefits

  • The maximum loan amount is a sub-limit of the OD facility.
  • The tenure is up to 6 months.
  • The interest rate is low.
  • The loan amount can be availed in the Indian Currency (INR) or any other foreign currency denominated rates.

Dropline Overdrafts

The Dropline Overdraft facility by the Citibank is a unique combination of the Term Loan and Overdraft facility. The dropline overdraft facility allows the businesses to overdraw the current account up to a pre-decided limit. This limit decreases by a certain fixed amount every month. The borrower then can repay any portion of the used amount anytime. The bank will charge only on the amount overdrawn on the fluctuating outstanding balance. But, the interest will be charged only at the end of each month.

Features & Benefits

  • An Overdraft facility where the line amount reduces by a fixed amount every month.
  • Unique combination of Term Loan and Overdraft.
  • Interest charged only on the amount utilized.

Secured Term Loans

These are the loans against a collateral for a fixed tenure. As such, the loan amount always depends on the value of the asset being pledged, in this case up to the 80%. The assets eligible to be used as collateral can be property, stocks or equities or the book debt.

Features & Benefits

  • Fixed tenure loans against a collateral.
  • Commercial Property Purchase loans for business expansion.
  • Maximum LTV (Loan to Value) of 80%* for property backed lines.

Why should you choose Citibank Business Loan?

Many would be wondering why Citibank for business loan instead of any other bank that is out there. The answer is simple it is mainly because of its accessibility and convenience, multiple loan options for the same individual, low interest rates and maximum tax benefits.  The above mentioned points are the main reasons why Citibank business loan is the best.

Accessibility is a very important factor and this bank offer a platform for regular conversations, easy withdrawals and quick depositing option. Being a regular customer for many years with Citibank, the customers are so inclined to it and are not willing you try other banks due to the benefits and reliable features.

Citibank promote various programs and schemes that will encourage entrepreneurs to make use for additional benefits. The actual earnings for this bank are from the interest rate charged on loans. Few other benefits offered are term loans, standard business loans, etc.

Rate of interest in Citibank is low as compared other banks and lending agencies and also lower than some finance instruments like the credit card and so on.

Businesses taking bank loan from Citibank can enjoy maximum tax benefits; this bank helps the applicant to choose a loan type that reaps maximum benefits through exemption from tax calculations.

How to apply online for Citibank Business Loan?

Finance Buddha is a personal loan comparison site, and also everyone can apply for a loan with banks directly. In this website the applicant just have to update personal details such as present company, salary, existing EMI amount, Salary account bank, loan amount required and tenure, and the application will auto-calculate the amount that should be paid per each bank’s interest rates, its processing fees, etc. More details are provided below.

If you want to directly apply for the personal loan, all you need to do is just visit Finance Buddha personal loan tab, give details of loan amount, company name you are employed at, salary account bank name, take home salary and any existing EMI amount. Ever you have worry about high rate of interest in banks or not getting desired loan amount make use of this this website to compare and find the best.  

Interest Rates:

As you already know, the interest rates at different banks will be different. Also within the bank the rate can differ from person to person, this is the very reason they give an interest range instead of a particular. As an individual who is looking to apply for a personal, the first thing to be kept is how to apply for a loan with less interest rate. Though it is not at banks discretion, there are few things that a an individual can do to decrease the interest rate; the first one is –having a good CIBIL score: by this the probability of getting a loan faster will increase also with the consideration of past records only less interest will be charged. The lower you score is, the higher will be the interest.

Check Eligibility:

Though not many websites offer such a facility, this is a good option before apply for a loan from bank. Getting rejected from a bank or NBFC is also a factor that can affect your CIBIL, thus applying at many places without knowing the eligibility and CIBIL score is not a great move. At Finance Buddha, you just have to give information about your net take home salary, existing EMI amount and company name. With these your loan eligibility with banks list will be immediately shows, which includes the bank name and maximum amount you are eligible to get a personal loan.

Use application for to apply:

Through Finance Buddha applying for a personal loan is quite simple, all you need to do is fill the application form available in the site with all credentials and look for the bank options that are available for you. Compare and consider the best one from this and simple apply through Finance Buddha. The concerned bank will contact you directly within and day or two to take the request to the next level. 

Citibank Business Loan Eligibility Criteria

  • Age at least 26 and less than 60 for Salaried.
  • Age at least 21 and less than 65 for Self-Employed.
  • Minimum Monthly Income ₹30,000.

Citibank Business Loan Interest Rates, Fees & Charges

Feature

Charge

Interest Rates

13.49% - 20.75%.

Processing Fee

Up to 2% + GST as applicable

Prepayment Charges

Allowed after 12 EMIs

Foreclosure Charges

Allowed after 12 EMIs plus 4% prepayment charges are applicable

Service Charges:

Service

Charge

Booking Fee: 

Up to 1% of loan amount sanctioned is charged as fee. The fee is taken at the time of documentation of the loan or it is directly deducted from disbursal amount

Recurring Annual Service Fee on the Credit: 

1% of the sanctioned amount

Penal Interest Rate:

Interest on delayed payments is levied if there is non-payment of monthly payment. This amount is charged at a rate of more than 2% prevailing to the interest rate on outstanding loan amount for defaulted period.

Bounce Charges: 

SI Bounce/ Cheque/ECS is charged for INR 500.

Loan Pre-closure Charges: 

About 4% of outstanding

Documents Required for Citibank Business Loan

  1. Application Form: Complete loan application form with one passport size photograph
  2. Valid Proof of Applicant's Identity: Passport, Photo PAN card, Voter’s identity card ,  Driving license and MAPIN card
  3. Proof of Residence: Ration card Tel/ Lease agreement/ Electricity Bill/ Passport/Trade license /Sales Tax certificate
  4. Proof of Age: Passport, Photo PAN card, Voter’s identity card
  5. Financial Documents: Copies of IT returns for the last two years along with the latest Bank statements for 6 months and P & L and balance sheet for last two years audited by a C.A.
  1. Self Employed (Private Ltd. Co. and Partnership Firms): Copies of IT returns for the last two years and P & L and balance sheet for last two years audited by a chartered accountant
  2. Self Employed Individuals: Copies of IT returns for the last two years and Bank statements for last 6 months and – Professionals: P & L and balance sheet for last two years audited by a chartered accountant
  3. Self Employed Individuals - Non Professionals: P & L and balance sheet for last two years audited by a chartered accountant and Copies of IT returns for the last two years and Bank statements 
Frequently Asked Questions

What is the tenure for business loan from Citibank?

Tenure - minimum of 12 months to maximum of 48 months.

What the best possible rate of interest I can expect from Citibank?

Anything between from min 13 (percentage) to 20 (percentage) is considered as a good deal.

What the best possible rate of interest I can expect from Citibank?

Anything between from min 13 (percentage) to 20 (percentage) is considered as a good deal.

Citi Bank Business Loan ReviewsView All

Niranjan Raut

5 / 5

My Business loan is going in a very good way with Citibank. The rates and charges are good. Processing doesn’t took much time. I am happy with the service.
Neha Dayma

5 / 5

I used Finance Buddha Website for applying for my loan. This website is very simple and easy to use. I applied my Business loan and it got approved only in a week with the Citibank. The documentation process was very simple in which the Finance Buddha executives helped and guided. The document required was very less.
Anupam Kumar

5 / 5

5 stars for the service!! I received very good quality of service from Citibank. Even their staff members are very polite and helpful. The processing was fast and my business loan application was approved in 5 working days only. I am not able to believe this kind of fast service regarding a loan from any Bank. Good job Citibank.... keep it up.
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