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Citibank Personal Loans: 2019 Review

Jan. 22, 2019
Loans, Personal Loans, Personal Loans Reviews
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3.0 NerdWallet rating

Good for: Good credit, debt consolidation

Citibank chiefly makes personal loans to borrowers with good credit. Its loans can be used for one-time expenses, such as home improvements, an emergency or debt consolidation.

Citibank’s personal loans are a good fit for borrowers who:

  • Have good credit. Citibank did not give NerdWallet details about its minimum credit requirements, but it typically lends to “prime” customers, according to the bank’s public filings.
  • Have an existing Citibank account. Checking account customers can apply for higher loan amounts and get a rate discount for making automatic loan payments.

Citibank loan rates and terms

Loan amounts$2,000 - $50,000
Typical APR7.99% - 17.99%
FeesNo origination fees or prepayment fees
Time to funding5 business days
Repayments1 to 5 years
Soft credit check?No
How to qualify
  • Minimum credit score: Not provided, but typically above 680
  • Minimum credit history: Not provided
  • Minimum annual income: $10,500
  • Maximum debt-to-income ratio: Not provided
Best forGood credit, debt consolidation
Pre-qualify and receive a personalized rate from lenders that partner with NerdWallet.

Citibank personal loan review

To review Citibank, NerdWallet collected data from the website, made calls to five branches around the country and compared the lender with others that seek the same customers or offer a similar personal loan product. Loan terms and fees may vary by state.

Citibank provides personal loans ranging from $2,000 to $50,000, repaid monthly over one to five years. You can borrow up to $50,000 if you’re an existing Citibank customer and apply at a branch ($30,000 if you apply online), and up to $12,500 if you’re a new customer.

How to qualify: Citibank considers your credit history, employment status and income when making its loan decision, according to a Citi service representative. Citi didn’t provide NerdWallet its minimum requirements for credit score or debt-to-income ratio. The minimum annual income requirement is $10,500.

Cost: Annual percentage rates on Citibank loans range from 7.99% to 17.99%. The lowest rates go to consumers with excellent credit who sign up for automatic payments from a Citibank account and borrow at least $10,000 with a repayment term of 36 months or shorter.

Your actual rate will depend on how much you borrow, your income and debt levels, the state you live in, and how much money you keep in a Citibank account.

Rewards for existing customers: In addition to the autopay discount, customers who enroll their accounts in Citibank’s rewards program can earn points through a personal loan account.

Joint applications: Citibank is one of a handful of lenders that accepts joint applications, where the credit scores and income of two people are considered in underwriting decisions. Both applicants are responsible for repaying the loan.

Hard credit pull: Citibank conducts a hard credit check on applications, which can temporarily lower your credit score. Most online lenders allow you to pre-qualify for a loan with a soft credit pull, which doesn’t impact your credit score.

Loan example: For a borrower with excellent credit, a $10,000 unsecured personal loan with a repayment term of three years at 13.9% APR would carry monthly payments of $341, according to NerdWallet’s personal loan calculator.

» MORE: NerdWallet reviews of Citibank accounts

How Citibank compares


7.99% - 17.99%

Min credit score

Typically above 680

Best for

Good credit, debt consolidation


7.24% - 24.24%

Min credit score

Typically above 660

Best for

Good credit, debt consolidation


6.99% - 24.99%

Min credit score


Best for

Good credit, debt consolidation

Pre-qualify and receive a personalized rate from lenders that partner with NerdWallet.


Wells Fargo and Discover are two other large financial companies that also offer unsecured personal loans. Like Citibank, both charge no origination fees and allow for joint applications.

» MORE: Top banks offering personal loans

How to apply for a Citibank loan

New and existing customers can apply online at Citibank’s website, over the phone or at a physical branch to start the application process.

Check rates from other lenders

Rates, terms and features vary among lenders, so NerdWallet recommends pre-qualifying with multiple lenders to compare loan offers. Click the button below to pre-qualify and receive personalized rates from lenders that partner with NerdWallet. Pre-qualifying will not impact your credit score.

Before you shop for a personal loan:


NerdWallet’s ratings for personal loans award points to lenders that offer consumer-friendly features, including: soft credit checks, no fees, transparency of loan rates and terms, flexible payment options, accessible customer service, reporting of payments to credit bureaus, and financial education. We also consider the number of complaints filed with agencies like the Consumer Financial Protection Bureau. This methodology applies only to lenders that cap interest rates at 36%, the maximum rate financial experts and consumer advocates agree is the acceptable limit for a loan to be affordable. NerdWallet does not receive compensation of any sort for our reviews. Read our editorial guidelines.

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