Citibank Personal Loans Review

(April 2024)

Citibank Personal Loans Review

In This Article

Our Verdict

Give Citibank personal loan products a consideration if you’re the lender’s existing customer and has run a Citibank deposit account for at least 12 months. If you need a lower loan amount—any figure resonating from $2,000 to $30,000, for example,—the lender is a good fit to consider.

Check below for further information about the lender:


Corporate Headquarters

Address: 388 Greenwich St, New York, NY 10013, United States

Phone Number: +1-800-950-5114


  • Quick funding.
  • No prepayment or origination fees.
  • Interest rate discount reward for autopay.


  • Loan amounts max at $30,000.
  • Higher interest rates.
  • No pre-qualification provision.
  • Ideal for old customers.
  • No option for co-borrower or joint loan.

Who This Product Is Best For

Consider Citibank personal loans if you:

  • Are an existing customer with a deposit account up to 12 months old.
  • Require a lower loan amount between $2,000 and $30,000.
  • Looking for a short-term loan. Here you get a special rate discount for any amounts from $10,000 upward with 36 months repayment terms—you need an excellent credit score, though.

Who This Product Isn't Right For

Think of other personal loan lenders if you:

  • Have an excellent credit score that can qualify you for higher loan amounts with a more favorable rate.
  • Are a new customer with a deposit account less than 12 months.
  • Require a large loan amount, $100,00, for instance.

What This Product Offers

  • Debt consolidation loan. Pay off your creditors and make just a single lower interest payment to Citibank every month.
  • Home improvement loans. Finance home renovation projects at ease with the lender’s product.
  • Personal project loans. Have any project to finance? Get Citibank’s product in order to execute your major milestone.

Product Details

Debt consolidation loan

Finance your high interest-rate debts by paying off your creditors once and then make a monthly installment payment to Citibank, usually at a lesser interest rate and longer term. You pay between 9.49% – 20.49% APR on any amount from $2,000 to $30,000 with repayment term up to 60 months. The lender offers you 0.5% discount in interest if you sign up for automatic deduction from your Citibank deposit account.

Home improvement loan

Clear you kitchen remodeling, HVAC repair or installation, and other home improvement expenses with Citibank personal loan products. Upon approval, you receive the fund into your Citibank deposit account within one business day (but can take up to five business to receive the cash to a non-Citibank account). It takes just a few clicks to apply for this product on Citibank’s website. Select the repayment term that’s best for you—either 12, 24, 36, 48 or 60 months.

Personal project loans

Do you need a short-term loan to complete a project you’re working on? If yes, think of Citibank personal loan offers. Get a lump sum with a fixed interest rate and repay (principal plus interest) over an agreed-upon time. The lender doesn’t allow you to pre-qualify for its products. But with a good to excellent credit score and proof of annual revenue of nothing below $10,500 per year, you’re certain of getting the lender’s personal loan.

Where This Product Stands Out

  • Rate discount for automatic payment. Cut your interest by getting up to 0.5% rate discount upon opting for auto payment while applying for the loan.
  • No origination fee. Apply for Citibank personal loan without having to pay an origination fee. But late payments or returned-check fee of $25 applies. So ensure you pay on-time.
  • Flexible repayment terms. Choose your repayment term that’s mostly convenient for you. The lender offers 12, 24, 36, 48 or 60 months repayment term. Remember that choosing a longer repayment term mean lowering your monthly payments but paying more on interest.
  • Easy loan management via mobile app. Make your monthly repayments or contact Citibank’s customer support from the lender’s mobile app.

Where This Product Falls Short

  • Only for Citibank customers. Citibank considers you for its personal loan products provided you are an existing customer with a deposit account up to 12 months old.
  • No pre-qualification provision. Most lenders allows you to check the amount, rate, and term you potentially qualify for before submitting your application officially. With that, you compare your loan options because making your decision. However, Citibank offers no such service for it personal loans.
  • Lower loan amounts. Citibank personal loan products cap at $30,000. If your require more funding than Citibank provides, consider another lender.
  • Payment schedule not adjustable. Citibank determines your payment date and you can’t change it.

How to Qualify for This Product

Understand Citibank’s qualification requirements for personal loans before you submit your application.

  • Credit score requirements. Citibank categorically state the exact credit score you need in order to qualify for its products. Generally, the higher your credit score the better your  chances of getting a personal loan with the best interest rate. In clear terms, have a credit score of 680+ before submitting your application.
  • Annual revenue. The lender needs to know you can repay whatever you borrow. If your annual revenue is not up to $10,500 or beyond, Citibank won’t consider you its personal loan products.

How to Apply for This Product

To apply for Citibank personal loan,

  • Fill the application form. Apply online, in person, or via phone call. If you want amount between $2,000 and $30,000, simply fill the application form online. Alternatively, you can call +1-866-422-0316 in order to apply for Citibank’s products.
  • Submit other relevant documents. Upon approval, you need to submit other documents the lender requires. Also, select your preferred repayment.
  • Receive funds. The lender releases funds to you within one business day after approving your business loan. If you want a check, it can take up to five business days before lay hold of the cash.
  • Repay your debt. Citibank reports your payment activities to Equifax, TransUnion, and Experian. So make online payments in order to avoid negative reports that can harm your credit score. You can set up automatic payments so as to stay ahead of your payment.

Alternatives to This Product

U.S. Bank

You don’t have to be a U.S. Bank customer before you apply for its products—although as a U.S. Bank customer, you can apply for anything from $1,000 up to $50,000 with a credit score of 660. If you’re a non-customer, the amount you can get max at $25,000. The lender’s interest rate starts at 8.74% up to 21.24% with repayment term extending to 84 months (60 months for non-customers).

Wells Fargo

Consider Wells Fargo for a higher loan amount up to $100,000 with repayment term extending to 84 months. You pay zero origination, prepayment, or closing fees. The interest rate is between 7.49% and 23.74% with up to 0.25% relationship discount in interest (if you qualify). To get the best rate and term from Wells Fargo, have a good to excellent credit score.


SoFi offers more perks (including unemployment protection, higher loan amounts, and competitive interest rates) than Citibank offers. You get any amount resonating from $5,000 to $100,000 without charging any additional fees. You don’t need a stellar credit score in order to qualify for the lender’s product. A credit score of 650+ is what the requires and best for you if you need to borrow larger sums.

Customer Reviews

Citibank doesn’t have an encouraging rating on Trust Pilot. It gets a bad rating of 1.2 out of 5-star, based on 218 customer reviews. The rating is even worse on Better Business Bureau (BBB). The lender receives 1.04 out of 5-star, based on 582 customers on BBB.

Don’t forget that the reviews encompass all the lender’s banking activities and not just about its personal loan products. 


We reviewed Citibank personal loans based on 20 data points in the categories of loan details, loan costs, eligibility and accessibility, customer experience and the application process. We rated Citibank personal loans based on the weighting assigned to each category:

Loan cost: 35%

Loan details: 25%

Customer experience: 20%

Eligibility and accessibility: 10%

Application process: 10%

Within each major category, we also considered several characteristics, including available loan amounts, repayment terms and applicable fees. We also looked at minimum credit score and time in business requirements and the geographic availability of the lender.

Finally, we evaluated Citibank customer support tools, borrower perks and features that simplify the borrowing process—like online applications, prequalification options and mobile apps.

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