| 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. |
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.
