Citibank Personal Loan: Interest Rate, Eligibility & Benefits

Established in 1812 in the city of New York, Citibank is one of the top international banks in the UAE with a humungous retail customer base. CITIBANK Personal loan

The bank established its roots in 1971 in the UAE and has been an important part of the UAE banking sector ever since. When it comes to personal finance in the UAE, Citibank has decades’ worth of experience. One of the most availed personal financing products from Citibank is personal loans. The easy application process, competitive interest rates and flexible repayment period are just some of the many features that make Citibank a top-liner in personal financing segment..

Citibank Personal Loan Interest Rates

Citibank Personal Loan
Personal Loan Category	Max Loan Amount	Tenor	Interest Rate	Type of Interest
personal loan With a Salary Transfer	AED 500,000	6 months - 48 months	6.99% - 8.99% (p.a.)	Reducing
Personal Loan Without a Salary Transfer	AED 175,000	6 months - 48 months	14% - 27% (p.a.)	Reducing

(The rates are subject to changes with time.)

Features and Benefits of the Citibank Personal Loan

Features	Availability
Early Settlement	1% of remaining balance or AED 10,000, whichever is less – The Fee is a one time charge added to the payoff balance
Salary Transfer	Not Mandatory(Mandatory for salary transfer loans)
Reducing Interest Rate	Salary Transfer Loan Interest Rate from 6.99% to 8.99% Non-Salary Transfer Laon Interest Rate from 14% to 27 %
Tenor	From 6 Months to 48 months
Quicks Approvals	Yes
Phone Banking	Yes

The Citibank Personal Loan Offers Loan borrowers the following features & benefits-

Easy Application

You can easily apply for Citibank personal loan either via online or offline platforms as per your convenience.

Loan Amount

You can get a loan amount going up to 8 times your salary with Citibank. A maximum of AED 250,000 can be availed of with Citibank personal loans as per your application type and processing.

Quick Approval

Showcasing a quick and hands-on processing time, Citibank offers in-principal decisions within 10 minutes. From application to documentation and approvals, everything can be covered in mere 24 hours.

Competitive Interest Rates

Interest Rates for Citibank personal loans start from a nominal 6.99% making it one of the best choices for personal financing in the UAE.

Key Features of Citibank Personal Loans without Salary Transfer
Reducing Interest Rate	14% to 27%
Principal Decision	In-principal decision within 10 minutes
Tenure	6 to 48 months
Phone Banking	Yes

Key Features of Citibank Personal Loans with Salary Transfer
Reducing Interest Rate	6.99% to 8.99%
Principal Decision	In-principal decision within 10 minutes
Tenure	6 to 48 months
Phone Banking	Yes

Citibank Personal Loan Eligibility and Required Documents

Given below is the complete eligibility criteria for availing of Citibank personal loans:

Parameters	Qualifying Criteria
Minimum Age	21 years
Residence/Citizenship	UAE resident or citizen
Employment Duration	Must be employed for at least 6 months
Company of Employment	Employer company must be from the approved list of companies of Citibank
Minimum Salary	AED 8,000
Salary Transfer	Available as both salary transfer and non-salary transfer loans
Documents Required	· Citibank personal loan application form · Employment and income proof – salary slips and bank statements for last 3 months · Identity proof – emirates id and passport and resident visa for ex-pats

Citi Bank Easy Monthly Payment Calculator

Citibank's personal loan calculator can calculate equal monthly payments for loans taken with salary transfer or without it. Here is a series of steps to follow for calculating your equal monthly payment using Citibank personal loan calculator:

Choose whether you will be transferring your salary to Citibank to get the loan.
The calculator is set on the minimum requirement by default. You can slide salary scale to the right and set it to your current salary.
The loan amount is also pre-filled on the calculator but you can re-set it to a desired number.
Your equal monthly installments will be calculated for four different tenures, namely – 48 months, 36 months, 24 months, and 12 months.
You can re-adjust the loan amount and/or salary as many times as you want to see the fluctuation in monthly payments.

Frequently Asked Questions About Citibank Personal Loan

Q1- Can I calculate Citibank personal loan EMI before applying?

Ans: Yes, you can use the Citibank personal loan EMI calculator free of charge to calculate your monthly instalment amount. The Citibank personal loan EMI calculator is available on the Citibank website and allows applicants to estimate their EMI for salary transfer and non-salary transfer loans alike.

Q2- What is the direct debit facility?

Ans: The loan borrower can set up standing instruction for payment of their Citibank personal loan. This direct debit feature allows Citibank to automatically deduct EMI from the loan borrower’s account every month. Direct debits can be set up online on the official website of Citibank.

Q3- Is it mandatory to transfer my salary to avail of a Citibank personal loan?

Ans: No, Citibank personal loans in the UAE are available both with and without salary transfer. Having said that, salary transfer loan applicants have to pay lower Citibank personal loan interest rates.

Q4- What is the loan amount offered for a Citibank personal loan with a salary transfer?

Ans: Salary-transfer Citibank personal loans offer up to 20 times the applicant’s salary, for a maximum of AED 250,000.

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