Citibank Loan Personal: Application, Interest Rate, Requirements!

What is Citibank?

Citibank is the largest foreign commercial bank in the country that offers checking and savings accounts to people. They also have financial services for small and commercial businesses, as well as proper financial wealth management. Citibank was founded in 1812 and was formerly known as the City Bank of New York.

Aside from traditional consumer banking services, Citibank also offers loans and credit to eligible people. The company has lots of financial service like multipurpose personal loan, salary loan, and other loans to cover emergency expenses.

Citibank Personal Loan, how does it work?

The Citibank Personal Loan is one of the many financial products of Citibank. It aims to let people borrow a certain amount of money to use for emergencies or other needs. You can use it for business expansion, personal growth, home renovation, children’s education, debt consolidation, wedding, or other unexpected life dilemmas.

Citibank Personal Loan is recognized for its Fast Approval. The money borrowed has interest rates depending on the monthly installment option the customer prefers. It also has flexible loan terms with a high loan amount.

How much are the Citibank personal loans?

Citibank allows borrowers to avail Citibank personal loans with an amount ranging from 100,000 pesos to 2 million pesos. However, the amount you prefer is still subject to approval by the bank itself.

Interest rate

The interest rates depend on the amount borrowed, but it can vary up to 3% monthly.

Citibank loan benefits

With Citibank personal loan, you can get loan approval in just 24 hours. The terms & conditions are flexible depending on the amount you borrowed – usually, you can repay the loan up to 5 years. Moreover, collateral or guarantor is not required and the interest rates are lower for new customers.

How to apply for Citibank personal loan?

Applying for a Citibank personal loan is very easy. It only necessitates 4 simple steps and it can be done online. However, make sure to know the loan amount and disbursement option you prefer before applying. Having this information prior to the actual application will make the process faster. You can check the interest rate charged on the amount and payment option you chose using the Citibank loan calculator. The latter is available on their website and can be accessed with or without a Citibank account.

Steps on applying for a Citibank personal loan:

1. Go to the Citibank Personal Loan Online Application page and download their application form.

2. After verification of a Citi Sales Officer, they will call you to say that your application has been approved.

3. They will ask you to submit all the required documents to their company email: loans.ph@citi.com Once done, wait for further confirmation on when you can claim the money your borrowed.

Requirements

• You are at least 21 to 65 years old.

• You are a Filipino resident or Local resident foreigner with a valid Philippine billing address.

• You have a postpaid line or postpaid mobile phone.

• You have a Tax Payer’s Identification Number (TIN) and SSS/GSIS Number.

• You are a principal credit cardholder (at least 1 year if from other banks, 6 months if Citi credit card)

• Have a minimum gross annual income of P250,000

Document Requirements (as applicable):

• One (1) valid government-issued ID with a photo and signature

• For employed: Latest 1-month full payslip

• For self-employed: Latest Income Tax Return (BIR Form 1707); Audited Financial Statements (AFS) of the business with independent auditor’s report and balance sheets and tax receipt for guaranteed acceptance.

• Your ID must be a primary/government-issued identification card.

How to check Citibank application status?

To check your application status, you may call their customer service hotline and they will ask you to provide your Citibank Personal Loan application or form number.

How to pay your Citibank Loan?

You may use online banking, bank transfers, e-wallets, and other over-the-counter transactions to repay the amount you borrowed. You just need your Citibank Personal Loan number to settle the payment.

What happens if I can’t pay?

Citibank charges borrowers who didn’t pay in due time with Monthly late charges of 500 pesos or 6% of the overdue amount – whichever is higher. So make sure to read the terms & conditions upon applying.

How to transfer Citibank loan to Gcash?

If you wish to transfer money from your Citibank personal loan to Gcash, you may go to GCash dashboard and click “Bank Transfer”. Then, select Citibank as your preferred bank. Put all the necessary details for the transfer including your account name and account number. Next, you have to double-check and verify all the information before confirming. After that, check the main page of Gcash if the money was successfully transferred.

How to get a loan on your credit card?

Citibank has a financing product called Citi Flex Loan. The latter allows Citi credit cardholders to borrow money and expand their account’s credit limit. The borrower will pay it back with a fixed interest rate and the number of monthly installments.

Citibank app

Currently Citibank doesn't have an app but still has been gaining lots of positive reviews for being a user-friendly website.

How to login?

If you wish to log in, you may go to their website and enter your username and password. These credentials will be thrown onto you once you created an account to apply for Citibank Personal Loan.

Citibank Contact Number and Customer Service

Customer Live Chat of Citibank is available from Monday to Friday, 9 AM to 8 PM. If you wish to raise a concern, you may also contact them through the following contact information;

Hotline

• Metro Manila: 8995 9999
• Metro Cebu: 234 9999
• Other Provinces: 02 8995 9999

Citibank Reviews

Being the largest foreign commercial foreign bank in the Philippines, Citibank provided numerous financial services that benefit a lot of Filipino people – particularly those who are currently struggling financially. A lot of people also say that Citibank offers convenient access to your money since they have different key locations in Metro Manila and Cebu.