Citibank personal loan review: Competitive interest rates and a low minimum amount

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In a Nutshell

Citibank personal loans can come with competitive interest rates and are available in amounts as low as $2,000. But to qualify for the most competitive rates, you’ll likely need pretty solid credit, and to apply you’ll need an eligible Citibank account.
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  • Competitive interest rates
  • Loan amounts as low as $2,000, up to $30,000


  • Must have an eligible Citibank account
  • Funding can take more than five business days
  • No ability to prequalify

What you need to know about a Citibank personal loan

Citibank offers unsecured personal loans in amounts as low as $2,000 with competitive fixed interest rates. To qualify, you’ll need to have an eligible Citibank account open for at least a year and you’ll generally need excellent or good credit to qualify for the most competitive rates.

Competitive rates

To qualify for Citibank’s lowest interest rates, you’ll need the following:

  • “Excellent” credit (according to Citibank)
  • A loan amount of at least $10,000
  • Loan term of 36 or fewer months
  • Monthly payments automatically pulled from your selected account via Citibank Auto Deduct

Wide range of loan amounts

Citibank offers personal loans from $2,000 to $30,000. And at $2,000, its minimum loan amount is low compared to many lenders — particularly other banks, which can have minimums of $3,000 to $5,000.

Personal loan details

Citibank is a global bank with almost 700 branches across the U.S. Here are a few other things to know.

  • Annual income To qualify for a Citibank personal loan, you must have an annual income of at least $10,500 and an eligible Citibank deposit account open for at least a year.
  • Loan terms Citibank offers loan terms between 12 and 60 months.
  • Funding time Receiving funding can take longer with Citibank than with some other lenders. Funds are sent by U.S. mail within five business days after your loan is approved.
  • No prequalification Citibank doesn’t offer the ability to prequalify for a personal loan. To see what your loan terms would be, you’d need to submit a formal application online, over the phone or at a branch office.

Who a Citibank personal loan is good for

A Citibank personal loan could be a good option for someone with a Citibank account and strong credit. Those who qualify for the bank’s competitive interest rates might find a Citibank personal loan comes in handy to consolidate existing high-interest debts.

It could also be an ideal choice if you want a smaller loan to cover an emergency expense or minor home improvement, or if you want a shorter loan term of 12 months.

How to apply with Citibank

You can apply for a Citibank personal loan online, over the phone or at a branch office. To apply online, you’ll need to have an eligible CitiBank account — and your requested loan amount can’t be more than $30,000. If you want to borrow more than $30,000 — or would simply rather speak with someone — you can apply over the phone or visit a branch.

If this personal loan isn’t right for you, consider this other option

  • Discover: If you want a personal loan with the option to pay off debt directly to your creditors, Discover is a good option.

About the author: Marcie Geffner is an award-winning freelance reporter, editor, writer and book critic. Her work has been featured online and in print by the Chicago Sun-Times, Fox Business Network Online, Los Angeles Times, The Washi… Read more.