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Citibank Personal Loan EMI Calculator - Sep 2020

Citibank Personal Loan Calculator

Last Updated 17th Sep 2020

Get monthly EMI as low as ₹ 2,169 per lakh on Citibank personal loan. Personal loan EMI in Citibank depends upon loan amount, loan tenure, interest rate, monthly salary and company that you work for.

Loan Amount1 Year Loan3 Year loan5 Year loan
₹ 3 Lakh₹ 26,501₹ 9,807₹ 6,508
₹ 6 Lakh₹ 53,001₹ 19,615₹ 13,016
₹ 12 Lakh₹ 1,06,002₹ 39,230₹ 26,031
Personal Loan EMI Calculator Or Free Personal Accident Insurance* of ₹10 L
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Best Offers on Personal Loan offerOffers
Bank/NBFCs Rate* EMI per Lakh* Action
HDFC Bank10.50%₹ 2,149Check Eligibility
Bajaj Finserv12.99%₹ 2,275Check Eligibility
ICICI Bank10.75%₹ 2,162Check Eligibility

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Personal Loan EMI Calculator Citibank

  • Personal Loan EMI (or equated monthly instalment) is a fixed amount of money paid by you to Citibank against the loan taken for repayment of your loan and payment of interest to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
  • Citibank offers affordable and convenient personal loans with loan EMIs as low as ₹ 2,169 per lakh for a tenure of 60 months and lowest rate of interest at 10.90%.
  • Citibank Personal loan EMI calculator is a convenient and reliable tool that helps the loan borrower determine the loan repayment schedule. In addition to that, the Citibank personal loan EMI calculator helps first-time loan borrowers to ensure whether they should opt for a loan or not.

Personal loan EMI calculator at different tenures

Personal Loan EMI for different loan amounts and tenures @ 10.90% interest rate

Loan Amount (Rs.)2 Years3 Years5 Years
1 Lakh ₹ 4,656 ₹ 3,269 ₹ 2,169
3 Lakh ₹ 13,968 ₹ 9,807 ₹ 6,508
5 Lakh ₹ 23,281 ₹ 16,346 ₹ 10,846
10 Lakh ₹ 46,561 ₹ 32,691 ₹ 21,693
  • From the above table, it can be interpreted that for various loan amounts taken at the lowest interest rate, EMI differs for loans taken at different tenures. Your EMI is higher when you take a loan for a shorter tenure of 2 years and is higher for a longer tenure loan of years.
  • Each EMI includes a component of interest payment and principal repayment. Even as EMIs remain constant, every month, there is a change in the proportion of interest component and principal repaid. With every EMI payment, the proportion of principal repayment in EMI keeps increasing and the interest component keeps reducing.
Citibank Personal Loan Interest Calculator
Personal Loan EMI for ₹ 1 Lakh loan amount at lowest 10.90% interest rate offered by Citibank for different tenures
Calculated Results for Citibank Home Loan EMI 2 years 3 years 5 years
Citibank EMI for a loan amount Rs. 1 lakh at 10.90% ₹ 4,656 ₹ 3,269 ₹ 2,169
Total amount you pay back to the bank including principal and interest ₹ 1.12 Lakh ₹ 1.18 Lakh ₹ 1.30 Lakh
Interest you have to pay during the loan tenure ₹ 11,744 ₹ 17,684 ₹ 30,140

The above table shows that EMI paid on loan will be lower for a loan taken for a longer tenure. However, your total interest outgo is significantly higher in a long tenure loan. In the above example, if you take a ₹ 1 Lakh loan from Citibank for 60 years, you pay the lowest EMI of ₹ 2,169. However, you pay an interest of ₹ 30,140 on a ₹ 1 Lakh loan.
In contrast, if you take a ₹ 1 Lakh loan from Citibank at the lowest loan rate for 2 years, you pay a higher EMI of ₹ 4,656 and pay an interest of only ₹ 11,744 which is less than half of what you pay for a 60 year loan. Hence, it is advisable to choose your loan tenure wisely as longer tenure means high interest expenses.

Factors affecting Citibank Personal Loan EMI

  • Loan amount – This is the amount that you have borrowed from Citibank. If you apply for a higher loan amount, your monthly EMI will be high. Citibank gives a minimum loan of ₹ 1 Lakh, which can go upto an amount of ₹ 30 Lakh.
  • Interest rate - Higher interest rate increases your loan EMI as well as the total cost of the loan. Citibank personal loan interest rate for salary account holders can be lower than their quote rates, which can reduce the overall cost of loan and EMI. Lowest interest rate offered by Citibank is 10.90%. However, it is advisable to do complete market research and compare rates online before you apply for a loan.
  • Loan tenure – This is the period in which you can repay your loan in Citibank. Longer loan tenure means lower personal loan EMI. Generally, Citibank offers a loan for a maximum tenure of 5 years.

Personal Loan Amortization Calculator

An amortization schedule is a table of periodic loan payments that shows the amount of principal and the amount of interest that comprise each payment until the loan is paid off at the end of its term.

In the Amortization schedule, your Personal Loan monthly EMI will be equal, but the component of EMI, which consists of interest payment and principal payment will not remain the same every month, it keeps on changing.

Illustration: How to read an amortization schedule

Suppose if you take a Personal Loan of ₹ 2 Lakh for 2 years at an interest rate of 10.45%. EMI calculated for this loan amount is ₹ 9,271 and the total annual EMIs to be paid annually is ₹ 1,11,247. The EMI schedule of loan for 2 years is explained below in the table –

Amortization Schedule for a Personal Loan of ₹ 2 Lakh over the 2 years

Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
2020 ₹ 6,571 ₹ 30,511 ₹ 37,082 ₹ 1,69,489
2021 ₹ 13,099 ₹ 98,148 ₹ 1,11,247 ₹ 71,341
2022 ₹ 2,824 ₹ 71,341 ₹ 74,165 -₹ 0

Each Personal Loan EMI consists of both amounts of interest as well as the principal repaid. The interest component of EMI goes down while the principal component goes up in both cases while doing the calculation.

In the above illustration, on a Personal Loan of ₹ 2 Lakh, taken at the lowest interest rate of 10.45%, EMI paid is ₹ 9,271 and an annual total of EMIs is ₹ 1,11,247, the interest component is ₹ 16,445 while the principal component is ₹ 94,802 in year 1 of loan disbursement. You repay only 47.4% of the total principal after paying 12 EMIs during the first year.

In year 2, the interest component of EMI is around 5.44%, while the principal component is around 94.56%. Upto 2 years, you have cumulatively repaid 100% of your total Personal Loan.

Citibank Personal Loan Interest Calculator Formula

P*r* (1+r)^n/([(1+r)^n]-1)

Here is an illustration of how Citibank Personal Loan EMI is calculated:

In the above formula,

P = Loan amount. This can range from ₹ 1 Lakh to ₹ 30 Lakh

r = Rate of interest per month. Current rate is 10.90%

n = tenure in month. For Citibank, this can be 60 months

How to decide the right amount of EMI?

As a borrower, calculating right amount of EMI is a function of your loan requirement, your monthly income, repayment capacity as well as the amount of monthly instalment you can afford to pay out from your monthly income. As a guide, follow the below steps to estimate the EMI amount that is advisable for you.

  • Decide the amount you need to borrow: It is important that before approaching a bank for loan, you need to estimate the amount of loan you need to borrow. Remember, a personal loan is an unsecured loan that can come at high interest rates and hence, it is advisable to limit your loan amount to the minimum required. Also, based on the EMI you can service, try to opt for the lowest tenure of loans as long tenure loans result in huge interest outgo.
  • Review your current obligations: Before taking a loan, it is advisable to evaluate your current monthly expenses including any EMI obligations that you have on your current loan accounts. The assessment will help you to estimate the amount of EMI you can pay comfortably after taking into account other obligations. Once you arrive at the EMI you can service, you can also decide on the right loan tenure.
  • Calculate your Citibank personal loan eligibility: Your loan eligibility is a function of an assessment of your repayment capacity based on your monthly income and other fixed obligations.
    • Multiplier based loan amount eligibility - Citibank calculates your loan amount eligibility by applying a multiplier to your net-take home salary. This is the simplest method for calculating loan eligibility used by banks. The formula used in the loan amount eligibility calculation is: Loan Eligibility = (Your Net Salary) x (multiplier of 9 to 18). The multiplier depends on the bank’s internal categorization of your employer company based on its reputation, stability, size, and growth in turnover.
    • FOIR based loan amount eligibility - Citibank will also estimate your Fixed Income to Obligations Ratio (FOIR) to ascertain the maximum EMI you can service based on your current income and other monthly expenses. The bank applies a certain ratio to your income to estimate your monthly expenses and then adds your other EMI obligations to calculate your fixed obligations. The proportion of fixed income to your calculated fixed obligations gives your FOIR. Citibank lends up to a maximum FOIR of 0.50. Based on the FOIR, the bank will also estimate the maximum amount of EMI you can service as a borrower. Citibank's assessment may be different from your assessment. Any differences in assessment may require you to readjust your loan amount requirement. You may also consider paying back other running short term loans to improve your eligibility.
    • Citibank will calculate your loan amount eligibility based on the above two methods and will sanction you a lower loan amount arrived at by the above two methods.
Quick guide on Citibank personal loan
  • Purpose of Loan: Citibank personal loan is taken to funding medical treatment in case of emergencies, paying additional debts, marriage expenses and other personal finance requirements.
  • Key Features
    • Loan available for both salaried individuals and self-employed professionals.
    • Borrowers within the age group of 23 and 60 years.
    • Loan amount of minimum ₹ 1 Lakh to ₹ 30 Lakh.
    • Loan Tenure 1 to 5 years.
    • Interest rates in the range of 10.90% to 18.99%.
    • Lowest EMI of ₹ 2,169 per lakh.
  • Processing Fees: Upto 0.5% of loan amount. This is to be paid at the time of loan application
  • Special schemes: Citibank offers customised personal loan interest rates and schemes for a special category of borrowers, including borrowers working in reputed companies, banks or government employees etc.

Personal loan EMI calculator Citibank – How it works?

  • Citibank personal loan calculator are online tools which give out EMI calculations using a combination of loan amount, interest rate and loan tenure.
  • Citibank EMI calculator considers “reducing balance basis” and assumes that payment of EMI is made in arrears (means interest is charged for the month preceding the EMI payment date) and not in advance.

In case you prepay your personal loan, the outstanding balance on your loan reduces. In this scenario, Citibank will allow you to reduce your loan tenure or reduce your EMI. The right decision is dependent on you monthly budget and personal preference. You should opt to reduce your EMI if you want to have a higher monthly spend budget or you should opt to lower your tenure if you want to save on your total interest outgo and want to close your loan quickly. You can calculate the change in your EMI by inputting the outstanding personal loan amount from Citibank, the interest rate and the remaining tenure in the EMI calculator.

How to process for Personal Loan EMI moratorium in Citibank?

Citibank has announced that the three months loan moratorium is available for the term loans and interest of working capital loans for March to May 2020. As a borrower, you have the option to opt-in or opt-out of the moratorium by informing Citibank. The interest will continue to accrue on the principal outstanding during this moratorium and the accumulated interest would be added to the principal amount resulting in the extension of loan tenure except in cases where the tenure extension is not possible will increase EMI amount. The moratorium on payment of Personal Loan EMI’s will not be treated as default and will not have any negative impact on the borrower’s credit score. To know more about the moratorium option, you may contact Citibank customer care or its nearest branch.


Why should I calculate Citibank loan EMI before taking a loan?

It is advised to calculate personal loan EMI in advance before taking a personal loan. There are several benefits of calculating your Citibank personal loan EMI as discussed below -

  • In case EMI comes out to be more than your monthly budget, then you have the chance to apply for a lower loan amount which fits your monthly budget and makes EMI easily affordable
  • If you already know the EMI you have to pay each month, then you can plan your spends accordingly
  • Based on the EMI amount, you can opt for making prepayment of your personal loan in future when you have surplus amount

What is the lowest EMI per lakh offered by Citibank on personal loan?

Citibank offers personal loan at 10.90% interest rate for a maximum of 60 months, and hence lowest EMI on per lakh loan amount is ₹ 2,169. However, Citibank may offer a lower interest rate and EMI for their salary account holders or existing bank customers can vary.

How can I pre close Citibank personal loan?

You can preclose your Citibank personal loan by visiting the branch with the required set of documents. Submit the form of preclosure, pay the amount and take the acknowledgement of balance amount that you have paid.

What are the prepayment charges on Citibank ?

Citibank offers you an option of prepayment after 12 months at In the range of 3% to 4%.

Is there any processing charge on personal loan from Citibank?

Yes, Citibank charges a certain amount of processing fee to process your loan application. Currently, Citibank charges a processing fee of Upto 0.5% on Personal Loan.

Will I get the personal loan from Citibank if i have a bad credit score?

No, for taking a loan from Citibank, an applicant must have a good credit score of 700 and above. Usually, most of the banks avoid giving loans if you have a low credit score.

How does a personal loan repayment happen?

The repayment of a personal loan happens in the form of an EMI (Equated Monthly Installment) through the customer's bank account. The customer is required to present a few post dated cheques and sign an ECS mandate in favour of the bank at the time of loan disbursal.

Can I have a co-applicant while applying for a Personal loan with Citibank ?

Yes, you can opt for a co-applicant to take a personal loan from Citibank that will increase your loan eligiblity as the income of the co-applicant is also taken into account.

Can we pay more than EMI in Citibank personal loan?

If you have funds, then you can pay more than the regular EMI on your loan. This will reduce your interest burden along with the outstanding principal. You can also pay one additional EMI every year to reduce loan tenure and in turn interest amount.

How can I pay my Citibank loan EMI?

You can pay the EMI on personal loan by using ECS facility or standing instruction. You can also visit the branch and submit the EMI cheque.

Compare Personal Loan EMI of All Banks

Citibank Personal Loan Customer Care Number, Email, Application Status, Branches
City Customer Care Number
Vijaywada 1860-210-2484
Varanasi 1860-210-2484
Vadodara 1860-210-2484
Udaipur 1860-210-2484
Trichy 1860-210-2484
Surat 1860-210-2484
Sonipat 1860-210-2484
Shimla 1860-210-2484
Salem 1860-210-2484
Roorkee 1860-210-2484
Rohtak 1860-210-2484
Ranchi 1860-210-2484
Rajkot 1860-210-2484
Raipur 1860-210-2484
Pune 1860-210-2484
Pondicherry 1860-210-2484
Patna 1860-210-2484
Panipat 1860-210-2484
Noida Extn 1860-210-2484
Noida 1860-210-2484
Nashik 1860-210-2484
Nagpur 1860-210-2484
Mussoorie 1860-210-2484
Mumbai 1860-210-2484
Mohali Sas Nagar 1860-210-2484
Mehsana 1860-210-2484
Meerut 1860-210-2484
Madurai 1860-210-2484
Ludhiana 1860-210-2484
Lucknow 1860-210-2484
Kozhikode 1860-210-2484
Kota 1860-210-2484
Kolkata 1860-210-2484
Kolhapur 1860-210-2484
Karnal 1860-210-2484
Kanpur 1860-210-2484
Jodhpur 1860-210-2484
Jalandhar 1860-210-2484
Jaipur 1860-210-2484
Jabalpur 1860-210-2484
Indore 1860-210-2484
Hyderabad 1860-210-2484
Gwalior 1860-210-2484
Guwahati 1860-210-2484
Gurgaon 1860-210-2484
Greater Noida 1860-210-2484
Goa 1860-210-2484
Ghaziabad 1860-210-2484
Gandhinagar 1860-210-2484
Faridabad 1860-210-2484
Durg 1860-210-2484
Delhi 1860-210-2484
Dehradun 1860-210-2484
Coimbatore 1860-210-2484
Cochin 1860-210-2484
Chennai 1860-210-2484
Chandigarh 1860-210-2484
Bikaner 1860-210-2484
Bhubaneswar Cuttack 1860-210-2484
Bhopal 1860-210-2484
Bhiwadi 1860-210-2484
Bhilwara 1860-210-2484
Bhilai 1860-210-2484
Bangalore 1860-210-2484
Aurangabad Bihar 1860-210-2484
Anand 1860-210-2484
Ambala 1860-210-2484
Ahmedabad 1860-210-2484
Agra 1860-210-2484
Vizag 1800-180-2484

Citibank Personal Loan Reviews 4.4/5  by 259 customers
MyLoanCare Service
Banks Service
mohit goel, Gurgaon
Reviewed on 16th Jul 2019
5 / 5 stars
Citibank Personal Loan Availed in Jul 2019

Nice service provided by the team. Will provide reference to my colleagues.Read more...

Sukeerth Kamuru, Hyderabad
Reviewed on 10th Jul 2019
4 / 5 stars
Citibank Personal Loan Availed in Jul 2019

Good experience with MyLoanCare. The executive was knowledgeable and helpful during the entire proceRead more...

Manglina Hemkar, Delhi
Reviewed on 29th Jun 2019
5 / 5 stars
Citibank Personal Loan Availed in Jun 2019

Quick and smooth process and services. The RM was spontaneous and experienced. Read more...

Sunil Mse, Hyderabad
Reviewed on 17th Jun 2019
2.5 / 5 stars
Citibank Personal Loan Availed in Jun 2019

Loan process took more time than expected other than that all was good.Read more...

Rajababu Gorrepatu, Chennai
Reviewed on 17th Jun 2019
5 / 5 stars
Citibank Personal Loan Availed in Jun 2019

Fantastic job done by MyLoanCare team. They handled very professionally and very much customer orienRead more...

Kasineni Srikrishna, Hyderabad
Reviewed on 14th Jun 2019
3 / 5 stars
Citibank Personal Loan Availed in Jun 2019

Bank interest charges are too high can decrease a little bit.Read more...

Tv balasubramanian, Chennai
Reviewed on 06th Jun 2019
5 / 5 stars
Citibank Personal Loan Availed in Jun 2019

Good service. Prompt revert. Keep it up good customer care and service.Read more...

divya rao, Hyderabad
Reviewed on 31st May 2019
5 / 5 stars
Citibank Personal Loan Availed in May 2019

Service is really good. They helped me in getting personal loan in just 2 working days.Read more...

Citibank Personal Loan News - Sep 2020
  • 2019-05-15 : Citibank to focus on scaling up a digital footprint in India
    One of the leading personal loan financiers, Citibank is planning to scale up its digital footprint in India while retaining the current branch network. To achieve this, the lender has joined hands with PayTm to launch its PayTm First credit card which would help grow its digital footprints globally.
  • 2019-04-11 : Aditya Birla Health Insurance Partners with Citibank
    One of the leading health insurance providers, Aditya Birla Health Insurance company has announced its partnership with Citibank. Through this partnership, the bank aims to provide best-in-class products related to health to its customers. Besides this, Citibank also has plans to achieve a strong growth across its retail loans segment including personal loans, home loans and mortgage loans.
  • 2019-01-16 : Citibank sanctions Rs. 1,100 crore loan to Fortis Healthcare
    Fortis Healthcare has signed a loan agreement with Citibank to avail a loan of Rs. 1,100 crore. The agreement has been signed between them to take care of its contractual commitments and strategic objectives. The loan agreement was executed on January 10, with certain commercial papers for disbursal being fulfilled on January 14, 2019.
  • 2018-10-30 : CitiBank shoot up Base Rate
    CitiBank has raised its base rate by 15 basis points. The new base rate stands at 9.10%, which was 8.95% earlier. The revised base rate is effective from October 7, 2018
  • 2018-08-30 : Citibank hikes Base Rate by 25 bps
    Citi Bank has raised its base rate by 25 basis points. The new base rate stands at 8.80%, which was 8.55% earlier. The revised base rate is effective from August 7, 2018.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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