What kind of loans does Citibank offer?
Citibank offers two kinds of personal loans:
- Personal Installment Loans (PIL) without salary transfer. No Account required with Citibank
- Salary Transfer loans (STL) with salary transfer
Do I need to transfer my salary to Citibank to avail a Personal Loan?
Our Personal Installment Loans of up to AED 175,000 is available without salary transfer.
What can I do with a Citibank Personal Loan?
- Home improvement/renovation
- Down payment towards mortgage
- Down payment for car purchase
- Children’s education
- Pay off other credit card balances
- Other annual commitments in home country etc.
- Interim short term needs
Do I need to provide any security/collaterals against my loan?
You will need to sign cheques covering the value of your loan amount, but you are not required to pledge any assets as collateral against the loan.
How do I apply for a Citibank Personal Loan?
We are available to serve you in the following ways:
Branch: You may walk into the nearest Citibank Branch.
Email: Write in to us at firstname.lastname@example.org for your query, request or feedback.
CitiPhone: You may call our 24-hours CitiPhone Banking Services on +971 4 311 4000
Apply Online: Submit a lead on the loans page on www.citibank.ae
SMS: SMS ‘LOAN’ to 2484 and our bank representative will get in touch with you within 48 hours
What are the key benefits of obtaining a Citibank Personal Installment Loan?
The key benefits of obtaining a Citibank Personal Installment Loan are:
- Loans of up to AED 175,000 (No salary transfer to Citibank required)
- Loan amounts of up to 8 times of your salary
- Competitive interest rates
- Approvals in 1 day
- Loan funding in 1 day
- Tenors of 6 months up to 48 months
How much can I avail with a Citibank Personal Installment Loan?
Citibank offers Personal Installment Loans up to AED 175,000 (multiples of up to 8 times of your salary)
What is the minimum salary required to obtain a Citibank Personal Installment Loan?
Minimum fixed salary required to obtain a Citibank Personal Installment Loan is AED 8,000
What are the main costs associated while availing a Citibank Personal Installment Loan?
The upfront costs pertaining to a loan is the processing fee of 1% of the loan amount (Processing fees – Min AED 500 and Max AED 2500).
What is the minimum and maximum tenor for a Citibank Personal Installment Loan?
- Minimum tenor: 6 months
- Maximum tenor: 48 months
How the monthly installment payment is calculated (EMI payment)?
EMI also known as equated monthly installment is calculated using the total loan amount, the interest rate charged, the tenor of the loan and 1st installment payment date.
When do I have to pay my first installment?
The installment due date will be linked to the day on which your salary gets credited and will be communicated to you by the bank.
What documentation do I have to submit in order to avail a Citibank Personal Installment Loan?
To avail a Citibank Personal Installment Loan you must submit the following documentation
- Current dated salary certificate (3 months on current job)/Pay slips
- Last three months bank statements (with salary transfer)
- Passport copy/Emirates ID Copy