Minimum loan amount
Minimum annual income
Apply for a Citi Personal Loan to receive your welcome gift upon loan disbursement. The welcome gift you’ll receive will depend on the final disbursed amount. Promo is extended until March 31, 2023. Want to learn more about your reward's delivery time and more? Check out our FAQs. See full terms and conditions here.
|Below ₱250,000||Samsung Soundbar HW-T420/XP||₱5,000 GCash|
|₱250,000 and Above||Apple AirPods 3||₱10,000 GCash|
Bring your plans to life when you apply for a Citi Personal Loan. With a high loan amount of up to ₱2 million and flexible repayment terms, you can fund your dream business or home improvement projects. Apply now and get approved in as fast as 24 hours!
|Age||21 to 65 years old|
|Minimum Annual Income||P250,000|
|Landline Number||Not Required|
|Late payment Fee||P500|
Is this the right product for you?
Checkout the other personal loan listing.
Part of the financial planning process is to consider applying for a personal loan. After all, you can only stretch your budget so much. If you’re looking for financial aid, Citibank is one of the best banks out there.
Citi’s Personal Loan has lots of exciting features and unique selling points that make it a better choice over other loan products in the market. Interested? We’ve pulled together a comprehensive guide for you, from this loan’s uses to add-on rates.
You can use your Citibank Personal Loan to fund huge expenses that usually take years to save up for. Because of Citibank’s high loan amount, you can use your loan to make life-changing decisions. Here are just some of the most common loan purposes in the Philippines:
To start your journey, you need to meet the following Citi Personal Loan eligibility criteria:
There are a couple of ways to receive your loan disbursement and manage your loan proceeds but the easiest way is through Citi Savings Guard, an all-digital savings account that lets you do your transactions online. Its convenience extends to its use as there’s no maintaining balance and no fees when transferring to any local bank. Maintain a certain amount in your account to enjoy the following features:
For a ₱20,000 maintaining balance:
1% interest rate gross per annum
Receive a Citi Debit Mastercard with no withdrawal fee when you use any ATM in the Philippines
For a ₱100,000 maintaining balance:
Free life insurance up to ₱2 million
Receive a welcome gift of ₱1,000 cash credits
Citi Savings Guard is exclusive to Citi credit card and personal loan users.
It’s not enough to know if you’re eligible for a Citi personal loan. You also have to make sure that you can afford the monthly loan repayments. For determining the monthly installment that fits your budget, an online loan calculator comes in handy.
Citibank has an online personal loan calculator that you can use to check which repayment term for your target loan amount will work best for your budget.
Note: The resulting figures of your calculation are just estimates. They’re subject to change. Remember that your actual amortizations will be reflected in the loan disclosure statement.
Citi Personal Loan has one of the lowest interest rates in the Philippines. This means the cost of borrowing from Citibank is lower compared to most banks and personal loan providers in the country.
To fully understand how Citibank computes the Citi personal loan interest rate, you should be familiar with the bank’s three types of interest rates and their differences.
Citibank defines the annual contractual rate (ACR) as the interest charged on the personal loan based on a 360-day period. It computes the ACR per month consisting of 30 days. The interest is also calculated on the unpaid daily balance of your loan.
The average ACR for the Citi Personal Loan is 26.9%. Borrowers can check the ACR in the loan disclosure statement issued upon loan approval.
The monthly interest rate is a revolving interest of 1.29% that’s applied to any or all of the following:
This interest charge, which is compounded monthly, continues to be charged until the total amount due plus accrued interest is fully paid.
To avoid this personal loan fee, choose a monthly installment amount and loan term that will enable you to make timely repayments on your Citi personal loan.
The effective interest rate (EIR) is “the rate that exactly discounts estimated future cash flows through the life of the loan to the net amount of loan proceeds,” as defined by the Philippine Accounting Standards.
Simply put, it’s the rate a borrower actually pays on a personal loan. The EIR includes the monthly interest charge, disbursement fee, and documentary stamp tax (DST).
The EIR computation depends on your loan amount and loan term, the exact amount of which is reflected in the disclosure statement along with the ACR. For example, if you borrow PHP 200,000 from Citibank and choose to pay it off in 36 months, your EIR will be 32.05%.
Citibank, N.A., Philippine Branch, has transferred ownership of its consumer banking business to Union Bank of the Philippines with effect from August 1, 2022. The trademarks “Citi”, “Citibank”, “Citigroup”, the Arc design, and all similar trademarks and derivations thereof are used temporarily under license by Union Bank of the Philippines from Citigroup Inc. and related group entities. This product is sold by Union Bank of the Philippines, using certain trademarks temporarily under license from Citigroup Inc. and related group entities.
You can borrow as much as ₱2 million with a Citi Personal Loan.
No, you cannot. To prevent identity fraud, Citibank will only release loan proceeds solely to the applicant.
This is the process upon receiving approval for your Citibank Loan.
- Choose a method of disbursement:
- Credit to your bank account
- Delivery of a manager’s check to your address
- Sign the Loan Disclosure Statement (DS).
- Prepare post-dated checks (PDCs) as scheduled in the DS.
- Loan proceeds will be released upon Citi's receipt of the signed DS and PDCs.
If you want an easier way to repay and receive your loan, try Citi Savings Guard, Citibank’s all-digital savings account. Here's a snapshot of the benefits you'll enjoy:
- No maintaining balance
- Free and unlimited transfers to any local bank account
- 1% interest rate gross per annum (for ₱20,000 monthly deposit balance)
- Up to ₱2 million free life insurance (for ₱100,000 monthly deposit balance)
Since it’s all digital, opening a Citi Savings Guard is easy—do it all through the Citi Mobile app. This product is only available to existing Citi credit card and Citi Personal Loan customers.
A Citi Personal Loan application can be processed in as fast as 24 hours as long as you're done submitting all the required documents.
You will receive a call from Citibank to arrange your loan disbursement. To follow up on your application, call their hotline at 8995 9999.
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