Citibank personal loans review: Loans with solid interest rates for existing Citi customers

Editor's rating: 3.25 out of 5 stars

The bottom line: Citibank offers personal loans with decent interest rates compared to the competition. However, only existing Citi customers are eligible for loans, and the amount you can borrow is limited.

Citibank personal loan amounts and interest rates

Citibank loan amounts range from $2,000 to $30,000, and the company accepts loan applications from residents of all 50 states and Washington, DC. 

Depending on your credit score and other financial factors, your APR will range from 7.99 to 23.99%, which is average compared to some other major competitors' APR ranges. For example, Marcus' rates range from 6.99% to 19.99%, while Avant's loans have APRs between 9.95% to 35.99%.

Compare Personal Loan Rates


Pros and cons of Citibank personal loans


  • Competitive APR range. Both the top and bottom ends of Citi's APR range are in line with other similar lenders. However, if you have top-notch credit you might be able to get lower rates with other lenders, like Lightstream or SoFi. 
  • No prepayment penalty or origination fee. You're able to pay off your loan without incurring an additional fee. Citi also won't charge you an origination fee, which is an amount of money deducted from your loan balance when funds are disbursed.
  • Rate discount with Autopay. You'll receive a 0.50% interest rate discount when you sign up for automatic payments on your loan. 


  • Only available to existing Citi customers. You must have a Citi deposit trương mục open for a minimum of one year before you can apply for a loan. 
  • Late fees. You'll be charged a late fee of $25 if your loan payment is late. Citi also ups the interest rate by 2% for borrowers 60 days behind on repaying their loan.
  • Unable to add a cosigner to your loan application. If your credit score isn't in the best shape and you are hoping to add a cosigner to your loan to increase your chances of approval, you can't do so with Citi.
  • Poor Better Business Bureau score. The BBB has given Citi an F rating, 
  • Slow loan funding. It can take up to five business days to receive your money. Other lenders offer same-day funding if you need your money more quickly. 
  • No option to prequalify. Citi will perform a hard credit inquiry before giving you your rates. A hard credit inquiry offers the lender a complete view of your credit history, but may negatively affect your credit score.

Who is Citibank best for?

Citibank is best for borrowers who already have a relationship with the bank and feel comfortable with the company. If you only want a small amount of money and don't need it right away, Citi could be a good option for you. The bank's customer service is also available seven days a week, so the company will be able to answer any questions you have throughout the week. 

How Citibank personal loans compare

Citi account logo


Avant Logo


Marcus Goldman Sachs Member FDIC

Marcus by Goldman Sachs

Min. credit score


Min. credit score


Min. credit score



7.99 to 23.99%


9.95% to 35.99%


6.99% to 19.99%

Origination fee?


Origination fee?


Origination fee?


Apply for a loan

Check rates

Check rates

 *While Avant does not charge an origination fee, it does charge an administration fee of up to 4.75%. An administration fee is deducted from your loan proceeds when the loan is funded.

Avant is the best for borrowers with a shakier credit history, as its minimum credit score is only 600. While the minimum credit scores for Marcus and Citi are undisclosed, you'll likely need a good credit score to qualify for a loan. 

Marcus charges no fees whatsoever, while Avant has an administration fee and an undisclosed late fee. Citi has a late fee of $25. 

Marcus offers a unique feature — an on-time payment reward. If you pay your loan on time and in full every month for one year, you can forgo a month of payments, and interest will not accrue during that period. Marcus will then extend your loan by one month.

How Citibank personal loans work

Citibank (Member FDIC) offers unsecured, fixed-rate personal loans for purposes such as medical expenses, home improvements, and even vacations. You don't need to put up collateral — like a house or car for a mortgage or auto loan — to get an unsecured loan. 

You need to have a Citi deposit trương mục open for at least 12 months, as well as an annual income of at least $10,500 to qualify for a Citi loan. Eligibility also depends on your credit score and other financial factors. You aren't able to have a coborrower or cosigner on your loan. 

Citi's repayment term lengths range from one to five years. You can pay off your loan early with no penalty, and the company doesn't charge origination fees. You'll incur a late fee of $25 if you fall behind on a payment. Citi also ups the interest rate by 2% for borrowers 60 days behind on repaying their loan.

You'll get your money in the form of a mailed check within five business days, which is slower than with many comparable lenders. 

There is no option to prequalify for a loan, meaning if you want to know your rates from Citi, you'll have to undergo what's called a hard credit inquiry. A hard credit inquiry gives the lender a comprehensive view of your credit history, but may negatively impact your credit score.

You may contact Citi's customer support line Monday through Sunday from 9 a.m. ET to 11 p.m. ET.  Citi is also available via a messaging service through your trương mục either online or through its mobile app, available on the Google Play and Apple Store. 

Is Citibank trustworthy?

The Better Business Bureau, a nonprofit organization focused on consumer protection and trust, gives Citibank an F rating. The BBB determines its ratings by taking stock of a company's responses to consumer complaints, openness about business practices, and honesty in advertising. 

The BBB gives the bank this bottom-grade rating because of its failure to respond to 11 complaints made against the business, 81 unresolved complaints, and a government action against the business. In September 2020, the Commodity Futures Trading Commission ordered three Citibank affiliates to pay a $4.5 million fine for failing to properly store audio recordings, which were deleted.

Citi has also been at the center of another recent scandal. In October 2020, the federal government fined Citi $400 million over its failure to fix prevalent risk management concerns. 

You might consider a different lender if Citi's low BBB score and recent scandals bother you. 

Ryan Wangman is a junior reporter at Personal Finance Insider reporting on personal loans, student loans, student loan refinancing, debt consolidation, auto loans, RV loans, and boat loans. He is also a Certified Educator in Personal Finance (CEPF).

In his past experience writing about personal finance, he has written about credit scores, financial literacy, and homeownership. He graduated from Northwestern University and has previously written for The Boston Globe. 

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