Citibank Personal Loans Review, May 2025

If you need a cash loan to consolidate debt or pay an unexpected bill, you’ll find options from online lenders, banks, and credit unions. But if you already have an account with Citibank, you might find that it’s most convenient to login to your account and apply for a personal loan directly from your bank.

Citi personal loans come with perks like fast funding, no fees, and a discount for existing account holders who meet certain requirements. But Citibank personal loans aren’t the right fit for everyone. Even if you have a Citi account, you might find that another lender offers a lower rate or more loan options. We’ll cover all the details you need to make an informed decision about Citibank personal loans.

Who are Citibank personal loans best for?

Best for established Citibank customers

Citi offers no-fee personal loans to existing customers and noncustomers alike, but Citi customers who have an established relationship with the bank get extra benefits. Citi considers your existing relationship when determining your APR — for instance, existing Citigold and Citi Priority customers qualify for a 0.25% APR discount. Plus, as a customer you can get same-day funding once your loan is approved. It’s a great option if you need an emergency loan or just want a quick and easy process.

It’s also super convenient to apply for a personal loan online if you already have a Citi account. However, Citi doesn’t offer personal loans greater than $30,000, while many of its competitors, like SoFi and Discover, do.

Great for very good credit

If you have very good credit (a FICO score between 740 and 799) and need a $30,000 loan or less, Citi could be a good option for you. Citi doesn’t charge origination (or any other) fees, and has low maximum APRs. However, if you have excellent credit (a FICO score of 800 or higher), you might find a lower rate with another lender. 

Pros and cons

Pros

• No fees: Citi doesn’t charge origination fees, late fees, or prepayment penalties on its personal loans. 
• Discount opportunities: You can get a 0.5% APR discount for enrolling in autopay when Citi originates your loan. Existing Citigold and Citi Priority customers get an additional 0.25% APR discount. 
• High J.D. Power rating: Citi ranked third in the 2024 J.D. Power U.S. Consumer Lending Study, after American Express and Discover. 

Cons

• Penalty APR: While Citi doesn’t charge a late payment fee, the bank may increase your APR by 2.00% if you go into default. 
• High starting rate: Citi personal loan rates start at 11.49% APR. Excellent credit borrowers may find lower rates and higher borrowing limits at other lenders, such as LightStream or Best Egg.
• BBB rating: Citibank has a D- rating with the Better Business Bureau (BBB) on account of unresolved complaints. Notably, this is in stark contrast with its high J.D. Power ranking for customer satisfaction. 

How to qualify for a Citibank personal loan

Your credit score and financial history

Citibank requires a minimum credit score of 740 through Credible, and you’ll need excellent credit to qualify for the lowest rates. Banks tend to have stricter credit requirements than online lenders. Additionally, Citi doesn’t allow co-borrowers. Applying with a co-borrower who has a strong credit score can make it easier to qualify, since the other applicant guarantees loan repayment. If you’re looking for a bad credit loan, you should consider other lenders. 

Your income and employment

Citibank requires that you earn at least $30,000 annually to qualify for a personal loan through Credible. You’ll need to provide proof of income and information about your employment, but it may be possible to qualify for a Citi personal loan with self-employment income, retirement benefits, or other consistent sources of non-employment income. 

Citibank personal loan purposes

Like most personal loans, Citi personal loans can be used for a variety of household expenses, including:

• Debt consolidation
• Home improvement
• Unexpected expenses
• Major purchases

Citi personal loans also come with a few restrictions. You can’t use the loan funds for business expenses or college educational expenses. If your aim is to consolidate debt, you can’t use the loan funds to pay off a Citi credit card or line of credit. That includes affiliated credit cards, such as store cards for Macy’s, Home Depot, and Wayfair. 

Related: What Can't You Use a Personal Loans For?

Citibank personal loan fees and penalties

Loan origination fees

Citibank doesn’t charge an origination fee for personal loans. Many personal loan lenders deduct an origination fee from the initial loan proceeds to cover the cost of processing your application and issuing the loan. Citibank is one of several lenders that offers personal loans with no origination fee. 

Early repayment penalties

Most personal loan lenders don’t charge prepayment penalties, including Citibank. You can save money on interest by paying extra each month or repaying your loan balance at any time. 

Other fees

Citibank doesn’t charge hidden fees or incidental fees like late payment fees. However, the bank still penalizes you for defaulting on your payments by increasing your APR by 2.00%. Paying a few days late isn’t likely to trigger the penalty APR, but check your loan terms for what constitutes default. Bear in mind that late payments may also damage your credit score. 

How Citibank compares to other lenders

Some of Citibank’s competitors offer lower starting APRs, larger loan amounts, and longer repayment terms. The chart below shows how Citibank compares to two similar online banks, which both offer personal loans with fast funding and no upfront fees. It’s a good idea to prequalify with a few different lenders to find a low rate and a monthly payment that fits your budget.

How Citibank compares to more lenders: The best personal loans

How to contact Citibank

To get support with a Citibank personal loan, call 1-800-685-0935. You can also schedule an appointment with a banker by phone or at a local branch. 

About Citibank personal loans

Citibank is part of Citigroup, a global financial services company with a 210-year history. Citibank is an FDIC-insured bank that offers online banking, investing, credit cards, wealth management, and several types of loans and lines of credit. The bank offers personal loans with fast funding and no fees, and is highly-rated by J.D. Power for consumer lending. 

Citibank is currently involved in a lawsuit brought by the New York Attorney General that alleges the bank failed to protect the security of its customers and reimburse victims of fraud. The Better Business Bureau receives a high volume of complaints about Citi, which is not a BBB-accredited business, and the bank also has poor ratings on third-party websites based on customer reviews. 

Rating Citibank personal loans

Credible reviewed 31 lenders across 899 data points and assigned star ratings to each lender based on an evaluation of its relative performance across the categories below.

We further evaluated partner lenders based on proprietary Credible personal loans data over the past 12 months. We considered each lender’s approval rates, average interest rates, average FICO scores, average loan amounts, and approved loan purposes. 

We chose the best lenders based on the following weighted categories:

• Rates and fees: 18%
• Loan terms: 18%
• Customer experience: 17%
• Eligibility: 14%
• Customer satisfaction: 10%
• Efficiency: 10%
• Options for poor credit and no credit: 9%
• Discounts: 4%

Our team of experts gathered information from each lender's website and directly from our partners. Each data point was verified by a senior editor to make sure it was accurate and up to date. Learn more about how Credible rates lenders by exploring our personal loans lender rating methodology.