Citi Bank Personal Loan Interest rates in Ludhiana
| Up To 50,000 | 50,000 To 1,00,000 | 1,00,000 Above | |
|---|---|---|---|
| CAT A | 10.99% | 14.25% | 11.49% |
| CAT B | 15.49% | 14.75% | 14.49% |
| Others | 15.99% | 15.49% | 14.99% |
Features of Citi Bank Personal Loan Ludhiana
| Type | Features |
|---|---|
| Processing Fee | Upto 2.0% |
| Pre Closure Charges | Upto 3.0% |
| Part Payment Charges | Allowed |
| Min Tenure | 1 Years |
| Max Tenure | 5 Years |
| Min Age | 21 Years |
| Max Age | 60 Years |
| Min Loan Amount | Rs.25,000/- |
| Max Loan Amount | Rs.30,00,000/- |
Citi Bank Personal Loan Ludhiana Charges
| Type | Charges |
|---|---|
| E M I Bounce Charges | Rs. 500 per Bounce+S.T |
| Duplicate Statement Charges | Nil |
Documentation For Personal Loan
For Salaried Persons
- Filled Application form
- Identity Proof (PAN CARD)
- Address Proof
- Latest 3 months Payslips
- Job Continuity Proof
- 2 Passport Size colour Photographs
- Co-Applicant identity proof, Address Proof
- Co-Applicant relationship Proof and Photograph
- 6 months Bank Statements
- 3 Post Dated Cheques/ECS Mandate
- Property Related documents
For Self Employed/Professionals
- Filled Application form
- Identity Proof
- Address Proof
- Last 2 years Income Tax Returns
- Professional/Self employed existence proof for more than 3 years
- 2 Passport Size colour Photographs
- Co-Applicant identity proof, Address Proof
- Co-Applicant relationship Proof and Photograph
- 6 months Bank Statements
- 3 Post Dated Cheques/ECS Mandate
- Property Related documents
Identity Proof For Personal Loan
- Passport
- Driving License
- PAN card
- Photo credit card (with embossed Signature and last two months statement)
- Banker's sign verification
Age Proof For Personal Loan
- PAN Card
- Passport
- License
- School leaving certificate
- Voter card
- Birth Certificate
- LIC policy (only for age Proof)
Income Proof For Personal Loan
- Latest salary slip
- Current dated salary Certificate with latest form 16.
- Latest year IT Returns with Tax Audit reports(For Self Employed applicants)
Address Proof For Personal Loan
- Latest salary slip
- Current dated salary Certificate with latest form 16.
- Latest year IT Returns with Tax Audit reports(For Self Employed applicants)
Job Continuity Proof For Personal Loan
- Form 16
- Relieving letter
- Appointment Letter (for last two months)
- Last 6 months of VAT/Service Tax returns (For Self Employed Applicants)
Banking History For Personal Loan
- Bank statements of latest 2 months
- 3 months bank passbook
Citi Bank Personal Loan FAQ's
What is Citibank Personal Loan?
Citibank Personal Loan is a quick and easy way for you to access extra cash when you need it. You can get the funds you require (and are eligible for) as an unsecured loan availed on fixed terms, with each repayment going towards repaying both the interest and the principal. Citibank Personal Loan features a simple pricing structure that supports our belief in 'easy to understand' banking.
What's the difference between a 'secured' and an 'unsecured' loan?
A 'secured' loan is secured against an asset, usually property. An 'unsecured' loan is where there is no asset offered as security. The best examples of 'unsecured' loans are Personal Loans and Credit Cards.
What is a fixed interest rate loan?
"A fixed interest rate loan has an interest rate that stays the same for the full loan term. For example, your fixed interest rate Citibank Personal Loan repayments will not change due to interest rate changes throughout the life of the loan thereby giving you greater control over your monthly budget. With a fixed interest rate loan you cannot pay extra to get ahead in your repayments. The repayment amount specified in your Loan Agreement needs to be paid each month as per the arrangement until the loan is paid in full. "
What is credit rating and how do you use it?
"Credit rating is a method most lenders use to assess whether your request for loan can be accommodated. We'll rate the information you provide on the application form together with other factors such as your employment history and how you manage other accounts with us, if any. We also use other information from Credit Information Agencies such as CIBIL (Credit Information Bureau (India) Limited), who keep records on your borrowing and payment habits. This includes details on how much credit you have outstanding as well as information on how many missed or late payments you may have made. If you have a number of missed or late payments, we may not be able to accommodate your request for loan. If you are concerned about your credit score, you may visit CIBIL and purchase your Credit Information Report. "
How much can I borrow?
The amount of money you can borrow depends on your income and other financial commitments. Citibank Personal Loan offers a minimum of Rs.1,00,000 and maximum of Rs.30,00,000.
What can I borrow money for?
You can use a Personal Loan for any purpose such as, home improvements, planning your dream wedding or tidy up your finances with a balance consolidation loan. However, as per RBI regulations, you are legally bound not to utilize the Loan for any antisocial, unlawful, or speculative purposes. Nor should you use the loan funds for purchase of gold in any form, including gold bullions, gold coins, gold jewelry, gold exchange traded funds, and gold mutual funds. This is applicable to all Personal Loans.
How quickly do I get the decision?
In most cases we offer decisions in matter of hours, although there may be occasions when we require further information before we can complete your application.
How quickly can I get the money?
You get the money within 48 hours of loan approval and documentation completion. The amount will be electronically transferred to your bank account as per the details provided to us.
How is interest calculated?
Interest is calculated on the unpaid daily balance of your loan and is charged to the loan on a monthly basis. The interest rate applied each day is equal to your annual interest rate at the time, divided by 365.
When do I have to start making EMI payments?
The first EMI would commence from the second succeeding month. For example, the EMIs for a loan booked in the month of January, would begin from 1st March. Interest due for the month of booking will be deducted at the time of disbursal. Since the interest is deducted upfront for the month of booking, a discount will be given on this interest which will be proportionate to the number of days remaining in the month.
What is Top up loan?
A Top up Loan allows you to access additional funds after you have availed your first loan with Citibank.
How can I Top up my loan?
If you are a Citibank Personal Loan Customer, getting a Top up Loan is easy. Please fill the form in the Click 4 Call tab and our representatives will be glad to help you, or just SMS PL to 52484. We'll get back to you without delay.
What is 'outstanding balance'?
Outstanding balance is the total amount you have remaining on your Personal Loan at a specific given time, excluding accrued interest and fees.
Is there a fee for booking my loan?
Yes. Once your Personal Loan is approved, a Loan Booking Fee of up to 2.5% of the sanctioned loan amount can be charged.
How do I pay the Loan Booking Fee?
The Loan Booking Fee will be deducted from the loan amount sanctioned at the time of disbursal. For example, aRs.1,00,000 loan with an assumed maximum of 2.5% Booking Fee will become an available loan amount of Rs.97,500.
Who can apply for a Citibank Personal Loan?
Citibank Personal Loan is currently available for salaried individuals, self-employed professional and business owners. Existing Citibank customers with a Suvidha, Branch or a Mortgage relationship can avail of Citibank Personal Loan.
How long can I take to repay the loan?
"You can repay your loan over a period of 12 to 60 months. The period of time you take the loan over will affect the size of your repayments, so if you want smaller repayments, you should repay your loan over a longer term. Just remember, the longer you take to repay your loan, the more interest you'll be charged overall. "
Can I pre-pay my Personal Loan?
Yes. You can pre-pay your Personal Loan. You have two options to make a pre-payment - Full Pre-payment andPartial Pre-payment. You do a Full Pre-payment by settling the entire loan outstanding in one single payment. If you opt to make partial prepayment of your outstanding amount, it is a Partial Pre-payment.
Full Pre-payment of Citibank Personal Loan?
For loans booked on or after October 1, 2015, you can close your loan account in full; you can do so any time after the first twelve months since your loan booking. For loans booked prior to October 1, 2015, you can close your loan account in full any time after the first six months of your loan booking.Partial pre-payments can be made post the first 12 months of your loan booking.
Partial Pre-payment of Citibank Personal Loan?
"You may prepay a part of the outstanding balance of the loan subject to the following conditions: • You have paid your loan EMIs for at least 12 consecutive months since your loan booking date. • Your prepayment amount is equivalent to a minimum of 2 EMIs and a maximum of 5 EMI'S Once you inform the Bank of your intention to prepay, the Bank will consider your request and confirm the final sum you are eligible to prepay. After making the pre-payment, you will have to continue repaying the subsequent EMIs as per the repayment schedule shared by the bank. The partial pre-payment facility is available once in 12 months. "
When do I have to pay Late Payment Charges?
The due date for the repayment of EMIs shall be 7th of every month, following the month of Loan disbursement. Payment instructions shall be presented from 1st of every month. We however don’t charge any late payment charges in case the payment is delayed.
How do I find out how much is outstanding on my loan?
"If you're an existing Citibank Online Banking customer, you can view your current loan balance online, however please be aware that this may not be your final settlement figure. Alternatively, to find out the outstanding balance on your Personal Loan just call our 24x7 CitiPhone helpline. They'll be able to give you the most recent information on your loan. "
How often will I receive a statement?
Statements are issued yearly on the 31st of March and mailed to your most recent address provided to us. If you'd like a statement issued any other time, simply contact us on our 24x7 CitiPhone helpline numbers provided here or use your Citibank Online IPIN (available on request) to access your Personal Loan Account and obtain your account balance.
What if I have more questions?
If you are Citibank Customer, please use the 'online query' facility to write to us. If you are not a Citibank Customer, please call our 24x7 CitiPhone helpline numbers provided here.
About Citi Bank
Citi bank offers broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management.
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Why to Avail Personal Loans?
Expert Advice
Best Practices for Personal Loan
Things not to do for Personal Loan
Factors that affect interest rates on Personal Loan
Personal Loan Advantages and Disadvantages
Personal Loan Advantages:
Personal Loans Disadvantages:
10 Things to Keep in Mind While Taking a Personal Loan
About Ludhiana
Ludhiana is namely the Lodhi Dynasty,Ludhiana is a city and a municipal corporation in Ludhiana district in the Indian state of Punjab, and is the largest city north of Delhi. It is situated on the banks of the Sutlej River.
Ludhiana city is a well known Industrial hub in Northern India, especially for manufacturing bicyles, cycle parts, sewing machine, hosiery, etc. The city is well connected by direct rail service with all parts of India.
Ludhiana city is believed to be founded way back in the year 1480 by the Lodhi dynasty. Two of Lodhi Chiefs Nihang Khan and Yusuf Khan, had come to the region on the orders of Sikandar Lodhi with a purpose to reinstate order in the area. They stayed in a village called Mir Hota which was situated at the present site of Ludhiana. While Yusuf Khan had gone across Sutlej River, Nihang Khan stayed back and founded the city at the spot of the village. The new town, thus, came to be known as ‘Lodhiana’, meaning ‘the town of Lodhis’. Subsequently, the name was amended to Ludhiana.
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Places To Be Visited In Ludhiana
Phillaur Fort
During the reign of Sher Shah Suri, a Sarai (inn) was constructed at Phillaur near Ludhiana. During the reign of Shah Jahan the inn was converted to a military fort and a post office. The fort was later used by the British as a part of the military cantonment. The fort now houses a police training academy and a finger print bureau.
Lodhi Fort
Lodhi Fort was built by the Muslim monarch Sikandar Lodhi around 500 years ago. The fort is located at the banks of the Sutlej River and also came under the British in 1809. The fort was once a majestic residence of the great Muslim king and displayed his military power. However, in the wake of neglect the fort stands in ruins and has badly suffered by nature’s elements.
Punjab Agricultural University Museum
Also known as Ajaib Ghar, Punjab Agricultural University Museum is a definitive visit if you like to learn about the people’s life in Ludhiana in the 18th and the 19th centuries. The museum becomes a stage to the colorful festival of the Kisan Mela held annually. The museum houses various rural and farming tools and objects and several other artifacts from the 18th and 19th century.
Tiger Zoo
Located at the GT road, the Tiger Zoo is spread across a massive 25 acres of land. The zoo was established in 1993 and has been a favorite tourist spot in Ludhiana ever since. The safaris are conducted inside safety vans and one can watch the tigers in the open from inside the vans.
Maharaja Ranjit Singh Museum
The Museum is located at GT road and is named after Maharaja Ranjit Singh whose statue depicting him sitting on a throne is located at the entrance. The museum has 12 galleries in total with sections like ancient history and post independence.
Nehru Rose Garden
This beautiful rose garden was established in 1967, over an area of 30 acres with more than 17,000 plants and 1,600 varieties of roses. It is one of the largest rose gardens in Asia, which serves open for the visitors from morning till evening. The blooming surroundings of this park are worth viewing, especially for people who love roses and really like to check its varieties that are spread here across a vast expanse of land. The garden organizes a Rose festival every year to offer a priceless display of flowers to the flower lovers all across the city.
Shivala Sangliwala Temple
This magnificent temple is believed to be around 400 years old and is located in the Old Ludhiana, attracting tourists from all over the world. It is dedicated to Lord Shiva and every year during Shivratri, pilgrims from distant areas visit this temple to offer holy water of River Ganges to the idol of Lord Shiva. During Shivratri, the temple witnesses long queues, waiting to catch a glimpse of Lord Shiva. A lot of people take a difficult journey of Kanwar from Haridwar to Ludhiana to offer holy water of River Ganges to Shivalingams.