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Citibank Personal Loan Interest Rates

The Citibank follows fixed interest rate system in case of its personal loans. It charges an interest of 13.99%. The corporate employees of CAT A and CAT B are charged an interest of 13.75% to 15% and 14.5% to 15.75% respectively. The interest rates for self-employed applicants may vary from 15.25% to 17%. The Citibank salary account holders get exclusive benefits on applying for loans. They can easily get their loan approved in four hours of applying the same. They get a repayment period of 12 to 60 months.

Interest rates on personal loans for various categories:

Particulars

Salaried Individuals

Self-employed Professionals

Rate of interest

For people earning a net monthly salary up to Rs 50,000 per month, they can apply for loans up to Rs 10 lakhs. Interest rates applicable are 14.99% to 16.99%.

For individuals earning between Rs 50,000 to Rs 1 lakh, the interest rate ranges from 14.25% to 16.49% p.a.

Individuals earning more than Rs 1 lakh pay 13.49 to 15.99% interest. The interest reduces to 12.75% to 13.99% p.a. on loan amount of Rs 10 lakh to Rs 14.99 lakh. It further reduces to 12.49% to 13.75% p.a. for loan amount of Rs 15 lakh to Rs 19.99 lakh.

For loan taken over Rs 20 lakh, interest applicable is 11.99% to 13.5%.

For individuals earning up to Rs 80,000 per month, 18.99 to 19.99% interest is applicable.

For individuals earning over Rs 80,000 per month, 15.99 to 18.99% interest is applicable.

Loan Amount

Rs 1 lakh to Rs 30 lakh.

Rs 1 lakh to Rs 30 lakh.

Loan Tenure

12 to 60 months.

12 to 60 months.

Lowest EMI

Rs.2301 per month considering the minimum loan value for the longest tenure at the lowest interest rate applicable.

Rs.2432 per month considering the minimum loan value for the longest tenure at the lowest interest rate applicable.

Processing Fee

0.25 to 2.5% of the total loan. If loan amount is over Rs 10 lakh, a fee of flat Rs 999 is applicable.

0.25 to 2.5% of the total loan.

Age

NA

NA

Prepayment fee

No charges applicable. Once 12 EMIs are paid, an amount equivalent to 2 to 5 EMIs can be repaid once in a year.

No charges applicable. Once 12 EMIs are paid, an amount equivalent to 2 to 5 EMIs can be repaid once in a year.

Foreclosure fee

Maximum of 3% applicable on the total principal outstanding amount during the final clearance.

Maximum of 3% applicable on the total principal outstanding amount during the final clearance.

Personal Loan Interest Rates by Banks