In a NutshellCitibank 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.
- 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.
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.