Citibank Personal Loans Review

Borrowers can get up to $30,000 the same day they apply

We recommend the best products through an independent review process, and advertisers do not influence our picks. We may receive compensation if you visit partners we recommend. Read our advertiser disclosure for more info.

Investopedia’s Rating

Our Take

With Citibank, existing Citi customers can get up to $30,000 as soon as the same day they apply, making it a good option if you have a pressing emergency or upcoming expense. However, you are only eligible for a loan if you’ve had a Citi deposit account opened for 12 months or more; other applicants aren’t eligible. 

  • Pros and Cons
  • Key Takeaways
  • Company Overview
  • specifications
Pros and Cons
  • Quick loan disbursement

  • Autopay discount

  • No origination fees

  • Only for existing Citibank customers

  • In-person applications required for larger loans

  • Limited loan term options

  • No pre-qualification tool

Key Takeaways
  • Citibank issues loans in all 50 states.
  • Citi branches are only available in some areas. 
  • Besides personal loans, Citibank issues bank accounts, credit cards, mortgages, and investment accounts. 
  • Loans can be used to consolidate debt or cover major expenses. 
Company Overview

Citibank traces its roots back to 1812, when it was initially founded as the City Bank of New York. Today, Citi is the third-largest bank in the U.S. based on consolidated assets; only JPMorgan Chase and Bank of America are larger. 

Citibank issues personal loans to residents of all 50 states. But while it offers loans nationwide, it only operates branches in some states. Citi operates 654 branches concentrated in New York, Chicago, Miami, Washington, D.C., Los Angeles, and San Francisco.

In addition to personal loans, Citi also offers checking accounts, savings accounts, certificates of deposit (CDs), mortgages, small business loans, and wealth management services. 

Not a Citi customer, and don’t plan to become one? See the field of personal loan options with our picks for the best personal loan lenders.

APR Range
9.49% - 20.49%
Loan Amount
$2,000 - $30,000
Loan Terms
0 months - 60 months
Recommended Minimum Credit Score
Average Origination Fee
Late Fee
Why Trust Us
Lenders reviewed
Loan features considered
Data points analyzed
Primary data sources used
Investopedia collected key data points from several lenders to identify the most important factors to borrowers. We used this data to review each lender for fees, accessibility, repayment terms, and other features to provide unbiased, comprehensive reviews to ensure our readers make the right borrowing decision for their needs.

Pros Explained

  • Quick loan disbursement: If you opt for an electronic transfer to your Citi checking or savings account, you can receive your loan funds as soon as the same day you apply.
  • Autopay discount: By signing up for automatic payments at the time of origination, you can qualify for an interest rate deduction.
  • No origination fees: Citibank doesn’t charge origination fees, helping you save money compared to some other lenders.

Cons Explained

  • Only for existing Citibank customers: To qualify for a personal loan from Citibank, you must have an existing Citi deposit account that’s been open for at least 12 months. Otherwise, you’ll have to wait to apply or work with another lender. 
  • In-person applications required for larger loans: With Citi, you can apply for a personal loan online as long as the amount you want is $30,000 or less. You must apply for loans over $30,000 in person or over the phone.
  • Limited loan term options: Although some lenders offer loan terms as long as seven years, Citibank is more limited. The maximum loan term available is five years. 
  • No pre-qualification tool: Unlike most lenders, Citi doesn’t offer pre-qualification to let you check your potential rates before you apply. This means you’ll have to apply and generate a hard credit inquiry to check your rates.

Although Citi doesn’t charge late fees, there is a penalty for late payments. If you default on your loan, Citi may raise your APR by as much as 2.00%.

Types of Personal Loans Offered by Citibank 

All of Citibank’s personal loans are unsecured, so there’s no need for collateral. When you take out a loan from Citibank, you can use it for a range of purposes, including: 

  • Debt consolidation
  • Medical expenses
  • Home improvements
  • Moving expenses
  • Car repairs
  • Vacations

Although Citibank’s loans can be used for debt consolidation, you should know that you cannot use a Citi personal loan to pay off a credit card issued by Citibank or its affiliates; Citibank’s affiliates offer popular store credit cards like the Macy’s Credit Card, the CITGO Rewards Card, and the Costco Anywhere Visa. Citi also prohibits the use of personal loans for post-secondary education expenses and student loan repayment.

Existing Citigold and Citi Priority customers—those who have investment accounts with Citi—can qualify for an additional 0.25% interest rate discount.

Time to Receive Funds

When you apply for a Citibank loan, you can receive a decision in less than 60 seconds. If your application is approved, the fastest way to get the loan funds is to opt for an electronic transfer to your Citi bank account. Loans can be disbursed to Citi accounts as soon as the same day you apply.

If you want the funds deposited into a non-Citi account, it can take one or two business days to receive the money. If you want to receive a paper check, it can take up to five business days.

Borrower Requirements

To qualify for a personal loan from Citi, you must meet the following requirements: 

  • You must be the age of majority in your state
  • You must have a valid Citi deposit account that’s been open for at least 12 months
  • You must have an income of $10,500 or more
  • You must meet Citi’s credit and debt-to-income criteria

If you aren’t sure how much money you’ll need or may have additional expenses, Citibank also offers a personal line of credit.

Citibank Personal Loan Features

As a Citibank customer, you can qualify for an interest rate reduction when you sign up for automatic payments at the time of your application. 

Co-Signers and Co-Applicants

Citibank doesn’t allow co-signers or joint applications for personal loans. 

Can You Refinance a Personal Loan With Citibank? 

If you have an existing Citibank personal loan you’d like to refinance, the lender does allow you to refinance current loans. To qualify for an additional Citibank loan, you must have had your loan for at least six months at the time of your application. 

Customer Service

You can reach customer support by phone or by visiting a Citibank branch in person. You can use the branch locator tool to find a branch near you and schedule an appointment to meet with a lending specialist. 

To call Citi’s customer service team, dial (866) 422-0316.

Customer Satisfaction

Citi is the third-largest bank in the U.S. based on consolidated assets. As is common with large banks that offer many different types of banking products, credit cards, and loans, customer reviews are mixed. 

In the 2022 J.D. Power Consumer Lending Satisfaction Study, Citibank was ranked 11th out of 22 lenders, with a score just above the industry average. But its score with Trustpilot is more negative; it has a 1.2 (Bad) rating based on close to 200 reviews. 

Applying for a Citibank Personal Loan 

If your desired loan amount is $30,000 or less, you can apply for a personal loan online. If you want to take out a loan for more than that, you’ll have to apply in person at a Citi branch or over the phone.

Citibank does not have a pre-qualification tool, so there is no way to check your eligibility or rates without impacting your credit. 

To start the application process, Citi will prompt you to sign in to your bank account. It will use your account information to populate some of the required information. Citibank will ask you for your Social Security number or individual taxpayer identification number, address, birth date, and income. It will ask for your consent to perform a hard credit check that can affect your credit score. 

Alternative Personal Loan Lenders

  Citibank LightStream  Rocket Loans 
APR Range 9.49%–20.49% 6.99%–23.99% 9.116%–29.99%
Loan Amount  $2,000–$30,000 ($30,000 max when applying online)  $5,000–$100,000  $2,000–$45,000 
Loan Terms  12–60 months  2–12 years  36 or 60 months 
Recommended Minimum Credit Score  Not disclosed  660  640 
Origination Fee  None  None  Up to 7% 
Time to Receive Funds  Same day Same day  Same day 

Final Verdict

If you are an existing Citibank customer, you can quickly apply for a personal loan online and receive a decision in less than 60 seconds. You can borrow up to $30,000 online—more if you apply over the phone or at a Citi branch—with competitive APRs.

However, you must be an existing Citibank customer to qualify for a loan. If you haven’t had a Citi checking or savings account open for at least 12 months, you aren’t eligible for a loan and will have to work with another lender. If you’re looking for other options, check out our selections for the best personal loan lenders.


Investopedia is dedicated to providing consumers with unbiased, comprehensive reviews of personal loan lenders. To rate providers, we collected hundreds of data points across more than 40 lenders, including interest rates, fees, loan amounts, and repayment terms, to ensure that our reviews help users make informed decisions for their borrowing needs.

Article Sources
Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.
  1. Citi. "Personal Loans."

  2. Citi. "Heritage."

  3. Federal Reserve. "Large Commercial Banks." 

  4. Citi. "Citigroup -- Quarterly Financial Data Supplement," Page 8.

  5. Citi. "Personal Loans," Click "How Can I Use the Proceeds From My Personal Loan?"

  6. J.D. Power. "Personal Loans Emerge as Critical Financial Lifeline in Challenging Economy, J.D. Power Finds." 

  7. TrustPilot. "Citibank."