Citibank loans, lines of credit and refinancing |

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Citibank loans

This global bank offers personal loans and lines of credit to fund life's big expenses.


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When you’re in need of personal financing, banking giant Citibank offers a variety of personal loans with fixed or variable APRs and flexible repayment terms. And if you’re a loyal Citibank customer, you could be eligible for reward benefits and loan rate adjustments. Just be aware of Citibank’s not-so-distant past, including government action against the business and bad customer reviews before you sign your contract.

First, am I eligible?

Citibank requires that you have an open account before you apply. This can be

  • A Citibank deposit account
  • A Citi credit card
  • A Citibank mortgage

You may also have to meet other requirements, such as a minimum income or credit score, in order to qualify.

What types of loans does Citibank offer?

Citibank offers six personal lending products.

  • Personal loan. Personal loans from Citibank range from $2,000 to $50,000. They come with fixed monthly repayment plans, meaning you pay the same amount every month. Rates depend on your approved loan amount, your creditworthiness and your average eligible Citibank deposit relationship balances for the prior three months.
  • Custom credit line. This allows you to get the financing you need, from daily expenses to large-scale projects — with no advance fee. You can borrow between $1,500 to $25,000 with a variable APR that will range from 10.24% to 22.24%. To qualify, you’ll need a deposit account at least three months old, a balance of $500 or more and an annual income of at least $10,500.
  • Checking Plus line of credit. If you need overdraft protection, the Citibank Checking Plus line of credit may be helpful. Citigold and Citi Priority account holders will have a variable APR of around 17.25%, while basic account holders have a variable rate of 20.25% and a $10 overdraft protection fee.
  • Mortgage. Use Citi’s Mortgage Selector to personalize options and rates based on your property type, expected purchase price, desired mortgage amount and creditworthiness. With rates starting at 4.5%, it’s one of the more competitive mortgage options available.
  • Mortgage refinancing. Already have a mortgage but looking to get a lower rate or lower your monthly payment? You could get a low starting rate when you refinance through Citibank.
  • Home equity loan or line of credit (HELOC). Citibank offers home equity loans with terms of 10 or 30 years. It also has two HELOC options: You can choose an interest-only draw period or a draw period where both the principal and interest are calculated into your monthly payment.

Citibank has never offered auto loans. But other banks and online lenders do. You can compare alternatives to a Citibank auto loan if you need financing for a car.

Why doesn’t Citibank offer student loans?

While Citibank used to be a large contender in the student loans sphere, it sold its share of federal student loans to Sallie Mae and private student loans to Discover back in 2010. Its since shifted its focus to its collection of personal loans, lines of credit and credit cards.

Compare Citibank to other lenders

Data updated regularly
Name Product Filter Values APR Min. Credit Score Max. Loan Amount
Best Egg personal loans
5.99% to 29.99%
A prime online lending platform with multiple repayment methods.
SoFi personal loans
5.99% to 18.85%
A highly-rated lender with competitive rates, high loan amounts and no fees.
PenFed Credit Union personal loans
6.49% to 17.99%
With over 80 years of lending experience, this credit union offers personal loans for a variety of expenses.
Credible personal loans
2.49% to 35.99%
Fair to excellent credit
Get personalized rates in minutes and then choose an offer from a selection of top online lenders.
Upgrade personal loans
6.94% to 35.97%
Affordable loans with two simple repayment terms and no prepayment penalties.
Upstart personal loans
8.94% to 35.99%
580 or 600 depending on state of residence
This service looks beyond your credit score to get you a competitive-rate personal loan.
Monevo personal loans
3.49% to 35.99%
Quickly compare multiple online lenders with competitive rates depending on your credit.
OneMain Financial personal loans
18% to 35.99%
An established online and in-store lender with quick turnaround times. Poor credit is OK.
Prosper personal loans
7.95% to 35.99%
Borrow only what you need for debt consolidation, home improvements and more — with APRs based on overall creditworthiness.
NetCredit personal loans
34% to 155%
No minimum
Check eligibility in minutes and get a personalized quote without affecting your credit score.

Compare up to 4 providers

Why should I consider taking out a personal loan with Citibank?

  • Membership benefits. If you’re already a Citibank customer, it’s convenient to apply for a personal loan with Citibank that links to your existing account.
  • Quick turnaround. Applications are typically processed within a few business days.
  • Efficient application support. You can apply online and get support by phone or at your local branch.
  • Online tools. Citibank’s budgeting tools can help you determine how much of a loan you can take out and how much you can repay per month.
  • Lower rates for autopay. To qualify for the lowest rate, enroll in automatic deductions from your Citibank deposit account for monthly repayments.

What are the potential drawbacks?

  • Citibank customers only. If you don’t currently hold an account or credit card with Citibank, you’ll need to become a member before you can apply for a loan.
  • Missed or late payments will affect your APR. Like most loans, if you’re late on your payments or skip a month, your APR could increase by 2% or more, making your loan more expensive over the long term.
  • Two-loan maximum. You can’t have more than two open loans at a time with Citibank.

How much will it cost to borrow with Citibank?

While fees will vary by the type of personal loan you qualify for and other financial details, Citibank’s personal loans come with competitive APRs and reasonable repayment terms.

Minimum loanMaximum loanStarting APRTermsHow to apply
Personal Loans$2,000$50,000As low as 8.99%1 to 5 yearsOnline
Custom lines of credit$1,500$25,000As low as 8.99%Varies by needOnline
Home equity line of creditVariesVariesAs low as 4.75%5 to 10 yearsOnline
MortgagesVariesVariesVaries by loan option and termsVaries by qualificationsBy phone or at your local branch

Are Citibank personal loans safe?

Citibank is a big name backed by more than 200 years in the industry. It protects your personal and financial information through 128-bit SSL encryption, Extended Validation SSL Certification, ID verification, session timeouts and other digital safeguards, allowing you to bank online with confidence.

Citibank encourages that you call or email with any questions or concerns about the safety of your information.

How is Citibank’s online reputation?

It’s not great. Citibank was one of the big banks that was bailed out in 2008. It paid a $7 billion settlement in 2014 over its involvement in the subprime mortgage crisis. Citibank has also settled other government actions, including a conspiracy to manipulate the value of US dollars and the euro in 2015.

That might be why it’s not accredited with the Better Business Bureau (BBB) and gets a F rating based on its failure to respond to several complaints and government actions levied against the business, among other things. Citigroup has several Trustpilot pages, none of which have many reviews, with ratings ranging from 3.2 to 6.1 out of 10.

Reviews were generally discouraging, with customers calling it the “worst bank” they had ever worked with and criticizing its “subpar” services. Its employees were called “condescending” multiple times. Those who value customer service might want to look into other options.

What are the eligibility requirements?

Applicants are required to have a Citibank deposit account, a Citi credit card or a Citibank mortgage, all of which needs to have a positive balance. If you are applying for a second loan, be aware that you can only have one pre-existing loan with Citibank.

Some loans with Citibank will require a minimum annual income and other requirements specific to that loan. Check online, call Citibank or visit a branch location to learn the specific details of each.

You may be required to provide personal information, including

  • Your full name and contact details
  • Proof of government-issued ID
  • Your date of birth and Social Security number
  • Tax returns and financial statements
  • Your banking and other financial details, such as pay stubs

How to apply for a loan with Citibank

You must be a member of Citibank or a Citibank cardholder to apply for a loan.

For personal loans of up to $30,000, you can easily apply online. If you’re looking to apply for a loan of up to $50,000, you’ll need to call Citibank or visit your local Citibank branch.

For home equity loans, mortgages and mortgage refinancing, visit Citibank online for detailed information on the application process.

I got a loan from Citibank. Now what?

If you got a mortgage, you may have a few more steps to take care of before worrying about repayment, which your Citibank point of contact should be able to walk you through.

To make repayments less of a hassle, consider setting up autopay. Keep an eye on your personal bank account and your loan balance to look out for irregularities — sometimes computers make mistakes and they could cost you if they aren’t caught in time. Reach out to customer service if you notice anything that doesn’t look right or have any other questions. It can be reached at 1-800-685-0935 or through its website’s live chat feature. You can also reach out by snail mail but don’t expect a quick response.

I didn’t get the loan. What are my options?

It’s not uncommon to get rejected when applying for a bank loan — eligibility requirements have tightened over the past few years. If this happens to you, first thing you should do is find out why your application was turned down. Common reasons involve your credit score (it was too low), your income (also too low) and the amount of debt you have (too high). More applications than you might expect also get rejected because they contained errors.
It can only improve your chances of getting approved (and a good rate) if you take steps to improve these three areas: Check your credit report for errors and taking steps to improve your score, reducing your credit card debt and looking into side gigs could be good places to start.
You also might want to look at other financial institutions that have a better record of accepting applicants — like credit unions and online lenders.

Bottom line

Citibank offers numerous personal loan options to its customers. You can use these loans to make a large payment, pay down high debt or purchase property. The bank offers both variable and fixed rate options for lines of credit and loans. However, with a history of bad practices and government action, you might be better off looking into another personal loan option if you aren’t comfortable borrowing from such a large lender.

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