Citibank Personal Loan Review

Citibank is the third largest bank in the U.S. by assets. Along with standard banking products, Citi also offers personal loans. Here’s a peek into what you can expect:

• Competitive rates: Bank loans are usually competitive, and Citibank is no exception. Rates are capped at 19.49% (as long as you have autopay) — much lower than the standard 35.99% you tend to see with online loans.
• No fees: Some lenders deduct an origination fee from your loan before sending them to you. Citibank charges zero fees, not even for late payments.
• Multiple discounts: Citibank offers a 0.50% discount on your annual percentage rate (APR) for enrolling in autopay. Citigold and Citi Priority customers can get an additional 0.25% off.
• No joint loans: Citibank doesn’t offer joint loans. That means you can’t get a personal loan with another person.
• Fast funding: You can get your loan the same day if deposited into a Citibank account, or within two business days if using a non-Citibank account.
• High customer satisfaction: Citibank is ranked above average in the J.D. Power 2025 U.S. Consumer Lending Satisfaction Study.
• Best for current Citibank customers: You don’t have to be a Citi customer to get a personal loan, but your loan could come with some nice benefits if you are. Citigold and Citi Priority members get a 0.25% interest rate discount, while all customers can receive same-day funding.

Citibank pros and cons

Reading Citibank personal loan reviews like this one can help you decide if this lender is a good fit for you — review the benefits and drawbacks below.

Citibank doesn’t specify its minimum credit score requirements, but you can still get a competitive rate even if you just barely qualify. Citibank’s maximum personal loan APR is 19.49% (with autopay) — for comparison, most online lenders charge up to 35.99%.

You can prequalify with Citibank, which lets you check your eligibility without hurting your credit. However, between online lenders and credit unions, banks often have higher credit score requirements — so if you have bad credit, you might have to apply elsewhere.

Further, if you default on your loan, Citibank will raise your rate by 2%. Lenders usually declare a loan in default once you’re 90 or more days late; this isn’t an uncommon practice, so when you’re comparing loans, look for a default interest rate clause in your contract. Still, it’s something to consider.

Citibank personal loan requirements

Citibank doesn’t provide many details about its borrower requirements, but it will consider 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.

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

Citibank lets you prequalify for a personal loan online — think of this process 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

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 sign a contract that outlines the terms and conditions of your loan. Once that’s signed, you could get your loan as soon as the 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.

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.