Handy Guide to Getting a Citi Personal Loan

Venus Zoleta
·10 min read
Citi personal loan
Citi personal loan

Approval within 24 hours and flexible repayment terms of up to five years—these features make the Citi personal loan attractive for those with urgent cash needs.

Thinking of applying for a personal loan from Citibank? Here’s a definitive guide to help you determine if it’s the right borrowing option for you and raise your chance of getting approved for a Citi personal loan.

✔️ Citi Personal Loan Features and Benefits

Is it worth submitting that Citibank loan application? Learn all about the features and benefits you can enjoy from your Citi personal loan here.

Citi Personal Loan

Features and Benefits

Processing time

24-hour approval

Loan tenor

12, 24, 36, 48, or 60 months

Loan amount

Up to PHP 2 million

Annual loan rate

26.9% to 30.9% for new Citi customers


No collateral


No guarantor

Fast Loan Approval

Citibank approves personal loan applications in as fast as 24 hours, making it the bank with the quickest loan approval time in the Philippines. Other banks take at least five to seven banking days or longer to approve a personal loan.

With the Citi personal loan, borrowers can get approved without the need for collateral or a guarantor. Fast approval, of course, depends on the borrower’s eligibility and completed requirements.

High Loan Amount

Borrowers can avail of a Citi personal loan with an amount ranging from PHP 20,000 to PHP 2 million. Thus, the loan from Citibank can be used for a wide array of purposes, such as emergencies, home improvement, debt consolidation, tuition payment, business growth, and more.

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Flexible Loan Terms

Another advantage of the Citi personal loan is having the longest repayment term in the Philippines of up to five years. Borrowers can choose to repay their personal loan in 12, 24, 36, 48, or 60 months, depending on how much they can afford to pay per month.

Low Citi Personal Loan Interest Rate

The Citi personal loan is one of the loans with the lowest interest rates in the Philippines. This means the cost of borrowing from Citibank is lower compared to most banks and personal loan providers in the country.

To fully understand how Citibank computes the Citi personal loan interest rate, you should be familiar with the bank’s three types of interest rates and their differences.

1. Annual Contractual Rate

Citibank defines the annual contractual rate (ACR) as the interest charged on the personal loan based on a 360-day period. It computes the ACR per month consisting of 30 days.

The average ACR for the Citi personal loan is 26.9%. Borrowers can check the ACR in the loan disclosure statement issued upon loan approval.

2. Monthly Interest Rate

The monthly interest rate is a revolving interest of 2.42% that’s applied to any or all of the following:

  • Unpaid fees and charges

  • Total amount due (including any unpaid fees and charges, past due monthly installments, and remaining principal balance) when the loan is unpaid for at least 60 days

This interest charge, which is compounded monthly, continues to be charged until the total amount due plus accrued interest is fully paid.

To avoid this personal loan fee, make sure to choose a monthly installment amount and loan term that will enable you to make timely repayments on your Citi personal loan.

3. Effective Interest Rate

The effective interest rate (EIR) is “the rate that exactly discounts estimated future cash flows through the life of the loan to the net amount of loan proceeds,” as defined by the Philippine Accounting Standards.

Simply put, it’s the rate a borrower actually pays on a personal loan. The EIR includes the monthly interest charge, disbursement fee, and documentary stamp tax (DST).

The EIR computation depends on your loan amount and loan term, the exact amount of which is reflected in the disclosure statement along with the ACR. For example, if you borrow PHP 200,000 from Citibank and choose to pay it off in 36 months, your EIR will be 32.05%.

Read also: Should I Borrow Money from Private Lenders?

Other Citi Personal Loan Fees and Charges

Here are the other personal loan fees you should take note of when borrowing from Citibank:

  • Disbursement fee – PHP 1,750

  • DST – PHP 1.50 per PHP 200 of the loan amount

  • Monthly late charge – PHP 500 or 6% of the overdue amount, whichever is higher

Read more: Moneymax Reviews: What to Know About Citi Personal Loan

Apply for a Citibank loan today!
Apply for a Citibank loan today!

✔️ Citi Personal Loan Requirements

How Do I Qualify for a Citibank Personal Loan?

Personal Loan from Citibank
Personal Loan from Citibank

To be eligible for a personal loan with Citibank, a borrower must meet all these criteria:

  • 21 to 65 years old

  • Filipino or foreign resident with a valid Philippine billing address

  • Employee or self-employed professional/entrepreneur with a minimum gross annual income of PHP 250,000

  • Must have a Citi credit card for at least six months or a credit card from another bank for at least one year

  • Must have a taxpayer identification number (TIN)

Related article: 6 Tips to Get a Personal Loan for Freelancers in the Philippines

What are the Required Documents for a Citi Personal Loan Application?

Citibank requires borrowers to submit a photocopy of the following documents (except for the personal loan application form, which should be an original copy).

Citi Personal Loan Requirements for Filipinos

  • Completed Citi personal loan application form (You can either download the form[1] or fill out the online form[2] on the Citi Philippines website.)

  • Valid government-issued ID with photo and signature

  • For employed borrowers: Payslip for the past three months/Latest income tax return (ITR) or BIR Form 2316

  • For self-employed borrowers: Latest ITR or BIR Form 1701 and audited financial statements with independent auditor’s report and balance sheets and tax receipt

Citi Personal Loan Requirements for Foreigners

  • Alien Certificate of Registration (ACR) or valid passport

  • Any proof of residency in the Philippines:

    • Immigrant Certificate of Residency (ICR)

    • Visa and work permit or Alien Employment Permit (AEP) with a validity of more than one year

    • ACR I-Card with a permanent visa status or validity of more than one year

    • Special Resident Retirement Visa (SRRV)

    • Special Resident Investors Visa (SRIV)

    • For expats employed in top 2,000 companies: Employment contract or letter from the company HR printed on company letterhead with name, job title/position, and confirmation of term

✔️ Citi Personal Loan Calculator

Citi Personal Loan Calculator
Citi Personal Loan Calculator

It isn’t enough to know if you’re eligible for a Citi personal loan. You also have to make sure that you can afford the monthly loan repayments. For determining the monthly installment that fits your budget, an online loan calculator comes in handy.

Citibank has an online personal loan calculator that you can use to check which repayment term for your target loan amount will work best for your budget.

How to Use the Citi Online Loan Calculator

  1. Access Citibank’s Online Personal Loan Amortization Calculator.[3]

  2. Tick your answer (Yes or No) next to “Do You Own a Citi Card?”

  3. Select your desired loan amount and tenor or loan term.[4] The online loan calculator will automatically show your monthly installment.

Tip: You can keep on choosing another loan tenor until you get the monthly installment that fits your budget.

✔️ Citi Personal Loan Application: 3 Easy Steps to Get a Loan

Citi Personal Loan Application
Citi Personal Loan Application

Once you’ve confirmed that you’re qualified for a personal loan from Citibank, have all the necessary requirements, and can afford the monthly repayments, you can already proceed with your Citibank loan application. The process is simpler than you expect.

Here’s a step-by-step guide to help you get started.

How to Apply for Citi Personal Loan Online

Make your Citi Personal Loan application process simpler and faster by doing it online. It’s as easy as 1-2-3.

  1. Access the Citi Personal Loan Online Application page and fill out the short online form.

  2. Wait for a phone call from a Citi sales officer the following day to verify your application.

  3. Email the required documents to loans.ph@citi.com.

Read more: Online Loans in the Philippines: What Filipinos Need to Know

Tips to Qualify for Citibank’s 24-Hour Loan Approval

While Citibank does approve certain loan applications within 24 hours, not all borrowers can get approved that fast. How quick you’ll get approved for a Citibank personal loan depends on whether the documents you submitted are complete or not and the result of the bank’s credit evaluation, among other factors.

Here’s what you need to do before and during your Citi personal loan application to raise your chance of getting approved fast:

  • Check your credit score and report. Doing this means more work and time spent prior to submitting your Citi personal loan application. But checking your credit score and report is a lot better than wasting your time and effort applying for a loan that would end up getting rejected because of a poor credit score.

  • Double-check your Citi personal loan application form to avoid incomplete and inconsistent entries. All mandatory fields should be filled out.

  • Make sure your documents are complete.

  • Submit your documents to Citibank by 5 p.m. from Monday to Thursday (except for a day before a holiday). The bank processes documents sent on a Friday or a day before a holiday on the next business day.

How to Check Your Citi Personal Loan Status

If you don’t hear from Citibank several days after you applied, call the Citibank personal loan hotline (available from 8 a.m. to 9 p.m. daily) to check your Citi personal loan application status. Here’s how:

  1. Dial (02) 8995-9999.

  2. Enter your 16-digit Citi credit card number.

  3. Press *2.

Non-Citibank credit cardholders may stay on the line or press 0 to talk to a call center agent.

How Will I Receive My Loan Proceeds?

Citi Personal Loan Proceeds
Citi Personal Loan Proceeds

As soon as Citibank approves your personal loan application, you’ll receive another phone call to finalize the details of releasing the loan amount.

Here are your options for claiming your Citi personal loan proceeds:

  • Manager’s check that you can pick up from a designated Citi branch or have it mailed to your billing address

  • Funds transfer to your specified bank account

  • Cash disbursement from a designated Citi branch

The bank will also require you to review and sign a Loan Disclosure Statement (DS). Also, be ready to submit post-dated checks or PDCs[5] for the monthly loan payments based on the schedule indicated in the DS.

After submitting the signed DS and PDCs, Citibank will then release the funds to you. Note that only the approved borrower can receive the loan proceeds; the funds will not be released to somebody else.

According to Citibank, it usually takes less than a week up to 12 calendar days (after the call from the bank) for borrowers to receive their loan amount.

✔️How to Pay for a Citi Personal Loan

Aside from issuing PDCs, you may choose to repay your loan via auto-debit arrangement (ADA) with the bank where you have a savings account. If you prefer to pay via ADA, you’ll be asked to fill out an auto-debit enrollment form. This also requires approval from your branch of account.

For overdue payments, you’ll have to settle it over the counter at a Citibank branch or any of its accredited payment centers at least five banking days before the next payment due date.

Citibank Payment Partners

Besides a Citi branch, here’s where you can pay your overdue Citi personal loan:

  • BPI

  • Metrobank

  • UCPB

  • UnionBank

  • The SM Store, select SM Supermarket, Hypermarket, and Savemore branches

  • All Robinsons Department Stores

Final Thoughts

Getting a Citi personal loan in the Philippines is easier and faster than you might expect. May this guide help you meet your financial goals through a personal loan. To learn more about getting a personal loan from Citibank, call (02) 8888-CASH (2274) and speak with a loan officer. Good luck with your Citibank personal loan application!

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