Citibank Personal Loan Review

Learn about Citibank personal loan rates and more

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overall rating

Citibank personal loans are available to current customers only. Applicants should have good credit and must have income of more than $10,500 per year. Highly qualified borrowers and those who need funds as soon as possible may want to look elsewhere. Still, Citibank’s lack of an origination fee is good to keep in mind.

  • Product Specifications
  • Pros and Cons
  • Fees
  • Company Overview
Product Specifications
  • APR Range 7.99 to 23.99%
  • Recommended Minimum Credit Score 670
  • Loan Amounts $2,000 to $30,000
  • Loan Terms 12 to 60 months
Pros and Cons
  • Short repayment terms

  • Ability to borrow a small amount

  • Low income qualification

  • Limited fees

  • Only available to Citibank customers

  • No prequalification option

  • Funds only come via check in the mail

  • Late Payment Fee: Not posted online
Company Overview

Citibank is the consumer banking division of Citigroup. The company started in 1812 and now has more than 2,500 branches around the globe. Along with personal loans and lines of credit, Citibank offers banking accounts, like checking and savings, as well as CDs, IRAs, credit cards, mortgages, and small business lending.

Pros of Citibank Loans

  • Short repayment terms: You can pay back a Citibank personal loan in as little as 12 months. Repayment is also available in terms of 24 to 60 months. This is good if you want to pay off your loan as soon as you can to reduce the total amount of interest payed.
  • Ability to borrow a small amount: You can borrow as little as $2,000 or as much as $30,000.
  • Low income qualification: You’ll need to prove you made at least $10,500 last year to be eligible for a personal loan.
  • Limited fees: There’s no origination fee on a Citibank personal loan or prepayment penalty if you pay off your loan before the term is up. However, Citibank does charge a late payment fee.

Cons of Citibank Loans

  • Only available to Citibank customers: You need to have a Citibank deposit account open for at least three months prior to applying for a personal loan. If you’re not a Citi customer, you won’t get approved for a loan.
  • No prequalification option: Some lenders let you check to see if you qualify for a personal loan without applying first, but Citibank requires an application. This triggers a hard credit check, which causes your credit score to temporarily take a dip. It also means you won’t have an idea of the loan rates you may be approved for before you submit an application.
  • Funds only come via check in the mail: If you’re approved, you can expect your money to be mailed within five business days. Many lenders have a direct deposit option where you can get your money wired to a linked bank account as early as the same day you’re approved.

Citibank Personal Loan Rates and Terms

If you have an excellent credit score, you could secure an interest rate as low as 7.99% APR when enrolled in Auto Deduct. Citibank offers fixed interest rates, which means your rate won’t change over the life of the loan. For borrowers with less than excellent credit, your interest could be as high as 23.99%. Other lenders offer lower rates for borrowers with excellent credit.

Citibank personal loans have repayment periods that range from 12 to 60 months (one to five years).

How Much Can You Borrow With Citibank?

You can borrow as little as $2,000 or as much as $30,000 when you apply online for a Citibank personal loan.

Citibank Personal Loan Fees

Citibank does not charge an origination fee or a prepayment penalty if you pay off the loan sooner than your repayment term. However, it does charge a late payment fee.

How to Get a Personal Loan From Citibank

If you’re interested in getting a personal loan from Citibank, you’ll need to:

  • Have a Citibank deposit account that’s been open at least three months
  • Have an annual income of at least $10,500
  • Have a good or better credit score

To apply for a Citibank personal loan, you’ll need to sign in to your Citibank account to apply online. You can also apply over the phone or visit your nearest branch.

Citibank only accepts personal loan applications from existing customers, so if you don’t already have an account with them, you won’t qualify for a loan unless you open a new account and wait three months.

When you apply online, you’ll need to provide some personal and financial details, such as your birth date, address, employment information, Social Security number, and more. This is standard across most personal loan applications. Your financial information, like income and employment details, is used to help determine if you qualify, while your personal information, like name and address, is required by the government. 

A Citibank personal loan representative might contact you for follow up questions and to verify some personal details. Remember, since Citibank does not offer prequalification, a hard credit check will be performed as soon as you apply and there’s a chance you might not get approved based on your credit history. Only apply if you believe you are completely qualified.

Final Verdict

If you’re a current Citibank customer with decent credit, and don’t need funds immediately, a Citibank loan is worth considering: fees are limited, repayment terms start at just one year, and you can borrow as little as $2,000.

But you won’t know if you’re eligible without applying since Citibank doesn’t have a prequalification option—meaning if you get denied, the hard inquiry will ding your credit and could impact your ability to qualify elsewhere.


We look at 40 data points from dozens of financial institutions to evaluate lenders for our personal loan reviews. Because a loan’s APR can dramatically impact the total cost you pay, we weight that feature the heaviest. But since a great APR usually requires at least a good credit score, we also give points to lenders who may have a higher potential APR but offer loans to people with less-than-perfect credit scores. 

Along those lines, we favor lenders who allow you to see if you prequalify before applying for a loan, so you won’t harm your credit score just by applying. Origination, prepayment, and late fees all get counted in our assessment. And lastly, we deduct points from the ratings of lenders with restricted access—for instance, those who require you to first have another type of account with them or to join a nonprofit organization.