Citibank Personal Loan Review
11.49%-20.49% (with autopay)
12 to 60 months
$2,000-$30,000
Not specified
LendingTree rating: 3.6/5
Accessibility: 2.9/5
Rates and terms: 4.6/5
Repayment experience: 3/5
Citibank offers an array of finance products, including personal loans that range from $2,000 to $30,000 with annual percentage rates (APRs) of 11.49% to 20.49% (with autopay).
- Citigold and Citi Priority discount: Customers with a Citigold or Citi Priority account will receive a 0.25% interest rate discount.
- Autopay discount: If you enroll in autopay, you can get a 0.5% APR discount. Your APR is the combination of your interest rate and fees.
- No origination fees: When you take out a Citibank personal loan, you will not have to pay an origination fee — a one-time administrative fee some lenders charge.
- Quick funding: Once you’re approved and sign a loan agreement, you can receive funds the same day in a Citibank account or within two business days in a non-Citibank account.
- Best for existing Citibank clients: Although you don’t have to be a Citibank customer to get a personal loan, it offers some decent benefits to those that are. Namely, a 0.25% interest rate discount for Citigold and Citi Priority members, as well as same-day funding.
Citibank pros and cons
If you’re in the market for a personal loan, you’ll need to weigh the benefits and drawbacks of getting a Citibank personal loan.
| Pros | Cons |
|---|---|
Low maximum APR could save you a lot of money if you have good (but not excellent) credit Offers 0.50% APR autopay discount and 0.25% discount to eligible current Citibank customers No late payment or origination fees | Thanks to a higher starting APR, you might find a better rate somewhere else if you have excellent credit Can only borrow up to $30,000 Recently involved in a class action lawsuit resulting in a settlement of $29.5 million |
Citibank’s interest rates cap out at 20.49% (with autopay). Citibank doesn’t specify its minimum credit score requirements, but even if you just barely qualify, you could get a better rate than you would with many other online lenders. At the same time, its starting rate is 11.49%, which is on the high side.
Citibank also offers two discount opportunities. One is for existing customers (Citigold and Citi Priority). The other is for signing up for autopay.
If you’re looking to fund a large loan, however, you may have better luck with other lenders as Citibank only offers personal loans up to $30,000. On top of that, Citibank doesn’t offer much transparency around its credit requirements.
Citigroup class action fines
In early December 2024, Citibank was ordered to pay $29.5 million in class action claims after being sued for violating the Telephone Consumer Protection Act (TCPA).
Citibank requirements
Citibank doesn’t provide many details about its borrower requirements, but it will review factors like your credit score, credit history and how much debt you already have. You can prequalify on its website to see if you’re eligible.
You don’t have to have an account at Citibank to get a personal loan. However, if you have a Citi credit card or certificate of deposit (CD), you must be a Citibank customer for at least a year before you qualify.
You may also need to disclose how you plan to use your personal loan. While Citibank does allow borrowers to use its funding for a variety of purposes, there are certain expenses you cannot put the money toward.
| Citibank loans CAN be used for… | Citibank loans CANNOT be used for… |
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If Citibank’s loan options won’t work for your borrowing needs, be sure to shop around for a lender that helps you meet your financial goals and can offer you the best-fitting rates, terms and amounts.
How to get a personal loan with Citibank
Applying for a Citibank personal loan is a straightforward process. Here’s what you can expect when you apply for a personal loan.
Prequalify
You can see how likely it is that Citibank will approve you by prequalifying for a personal loan on its website. Think of this as a mini application that doesn’t impact your credit. Prequalification doesn’t guarantee that Citibank will approve you, but it can give you a good idea of what to expect.
Complete an application
If you want to proceed after checking your rates, you’ll need to fill out an application. Here, you’ll give Citibank more information about yourself and your finances. Citibank will also run a hard credit pull, so your credit score might go down by a few points.
Verify your information
To make sure the information in your application is true, Citibank will need to verify the details you provided in your application. You may need to provide recent pay stubs, W-2s and bank statements.
Accept your loan agreement
If Citibank approves your application, you’ll need to sign a personal loan agreement that will outline the terms and conditions. Once that is signed, you may receive your loan funds same day or within two business days (as long as you opt for direct deposit). You can also get your loan as a check in the mail, but you may need to wait up to five business days for it to come in.
How Citibank compares to other personal loan companies
Even if you believe Citibank aligns with what you’re looking for in a personal loan, it never hurts to shop around and compare other lenders. Here’s how Citibank stacks up against similar personal loan lenders.
| Citibank | Best Egg | Discover | |
|---|---|---|---|
| LendingTree’s rating | 3.6/5 | 4.4/5 | 4.0/5 |
| Minimum credit score | Not specified | 580 | 720 |
| APRs | 11.49%-20.49% (with autopay) | 6.99%-35.99% | 7.99% - 24.99% |
| Loan amounts | $2,000-$30,000 | $2,000-$50,000 | $2,500 - $40,000 |
| Repayment terms | 12 to 60 months | 36 to 60 months | 36 to 84 months |
| Origination fee | None | 0.99% - 9.99% | None |
| Funding timeline | May receive funds the same day or within two business days | May receive funds within one to three business days | May receive funds as soon as the next business day |
| Bottom line | Citibank does not charge origination fees and has the lowest maximum APR of the three lenders. However, you can’t borrow more than $30,000 from Citibank, so you should look elsewhere if you need a large loan. | Best Egg comes with the highest APRs and origination fees of these three picks, but it does offer loans to borrowers with less-than-perfect credit. This lender also offers more flexibility when it comes to loan amounts and gives consumers the option to get a secured loan. | Like Citibank, Discover does not charge an origination fee. However, it does offer lower minimum rates higher loan amounts and longer repayment terms. |
How we rated Citibank
To come up with our star rating for personal loan companies, LendingTree considered 22 data points across three categories:
- Accessibility: We paid attention to whether lenders offered loans to nontraditional borrowers, as well as those without excellent credit scores. We also checked if lenders offered soft credit pulls, and whether they were transparent about eligibility criteria other than credit scores.
- Rates and terms: We wanted to know if lender rates, terms, amounts and fees were not only transparent, but competitive.
- Repayment experience: We based this category on lenders’ reputations, customer support availability and unique benefits.
The data points reflect every step of the process to shop and apply for, borrow and repay personal loans. A five-star lender, for instance, has flexible eligibility requirements, offers you the chance to prequalify without commitment and supports you in zeroing your balance.
The 22 data points, culled from the lenders themselves, determine the overall rating. We score lenders consistently, sometimes awarding partial points, so that you can make apples-to-apples comparisons when shopping around.
LendingTree isn’t paid for conducting these reviews, and lenders don’t have control over their content. With our reviews and ratings, we aim to give our users the objective and exhaustive information they need to make the best possible decisions.
Frequently asked questions
Citibank does not specify its minimum credit score requirement. However, to qualify for a personal loan, many lenders look for good credit scores and a low debt-to-income ratio, which is how much money you’re spending versus how much you’re making.
It varies by lender how long it takes to get a personal loan. Citibank can respond to your personal loan application the same day you apply. You can also receive your loan funds that same day, too, as long as you use a Citibank deposit account. If you use a non-Citibank account, it can take up to two business days.
Yes, you can pay off your Citi personal loan early with no extra charge. Citibank doesn’t charge prepayment penalties, origination fees or late payment fees.