Installment Loans on Credit Cards

Loan on Card allows you convert your available credit limit into low interest cash payable in monthly installments and send it straight to your bank account.

The Loan on Card amount that you request will be blocked from your existing credit card limit and each installment payment will release the corresponding amount of your credit limit blocked against this loan. Monthly installments shall be due for payment & will appear in your next credit card statement after availing of the loan amount.

Interest accrues, at the rate determined by Citibank and published in the Schedule of Fees and Charges, on a daily basis and is calculated on the basis of actual days over 365 days year (366 days for leap year) on a reducing balance basis.

The maximum amount that you can request is available in Loan on Card menu.

Actual disbursement of funds may vary depending on the account of disbursement. Disbursements to Citi accounts will be typically made on the same day. Accounts with third party banks may take up to 3 working days.

Subject to Citibank's approval, you may at anytime cancel your Loan on Card or opt for early settlement of the Loan on Card amount. Such cancellation or early termination requires an early settlement fee of 1% on the remaining outstanding principal and you will be charged interest on the remaining principal from the date of your last statement until the Loan on Card closure date.