Citibank Personal Loan Review

Citibank Personal Loan Review: Competitive Interest Rates for Short-term Loans

If you want to gain access to a low-interest rate, quick cash loan that will let you borrow up to 4 times your monthly salary, a Citibank personal loan might be a perfect match. That said, you’ll need a Citi credit card to apply – and you must be a new customer to lock-in the best p.a interest rate.

Citibank Personal Loan Features 

Getting a Citibank personal loan is an excellent option for anyone in Singapore looking for either a quick cash loan with competitive, effective interest or loans with low processing fees. Key features of the latest Citibank personal loan include:

  • Competitive interest rates for short-term loan tenures 
  • One-day quick cash loan disbursement for Citi credit card or Citibank bank account holders 
  • Easy application process powered by Citibank Mobile app 

Citibank Personal Loan Pros and Cons 


  • No processing fee is charged to any existing Citibank customer in Singapore.
  • Enjoy a low minimum loan amount of $1,000
  • Borrow up to 4 times your monthly salary or $100k, whichever is higher
  • Amazing low percentage 0 interest rate on short-term loan tenures
  • Competitive p.a interest rate from 3.99% (7.5% effective interest rate EIR) on longer loan tenures


  • You must have a Citi credit card account or be a Citibank Ready Credit Card account holder to get a Citi Quick Cash loan.
  • Only existing Citibank customers can lock-in that low percentage of 0 interest rate.
  • You might get hit with a 3% outstanding unbilled principal amount charge or a $100 fee (whichever is higher) if you choose to repay early.


Types of Citibank Personal Loans 

Whether you need a Citi Quick Cash loan with a short-term loan tenure, a larger loan amount, or a personal loan with an excellent longer-term interest rate, there are several Citi products and services on the market. Let’s take a look at the best Citibank personal loan options currently available.

1. Citi Quick Cash (New Loan Customers) 

  • Personal loans available from 1-5 years
  • 0 interest rate on loans of 12 months or less
  • 3.99% p.a, 7.5% effective interest rate EIR on longer-term deals
  • 3.5% processing fee on short-term loans
  • Minimum loan amount of $1,000
  • Fast application via Citibank Mobile App
  • Cash disbursement available in 3 to 5 working days
  • You must get a CitiBank Ready Credit or Citi Credit Card first.

2. Citi Quick Cash (Existing Loan Customers) 

  • Personal loans available from 1-5 years
  • 3.99% interest rate p.a (7.85% effective interest rate EIR) 
  • No processing fees whatsoever
  • Fast application via Citibank Mobile App
  • Quick cash disbursement available instantly, in just one day.
  • The Citibank personal loan amount can be drawn from your existing Citibank Ready Credit Card limit.

Interest Rates and Other Fees 

Let’s take a quick look at how rates and fees compare for new and existing customers:

  Citi Quick Cash (New Loan Customers)  Citi Quick Cash (Existing Loan Customers) 
Interest rates (12 months or less) 0% From 3.99% (7.85% EIR)
Interest rates (2-5 years) From 3.99% (7.5% EIR) From 3.99% (7.85% EIR)
Processing fee 3.5% 0%
Maximum loan tenure 5 years 5 years
Minimum loan amount $1,000 (or $20k for lowest interest rate / up to 12 months) $1,000
Minimum annual income $30,000 $30,000
Cash disbursement  3-5 days Instant

As you can see, new Citi customers here in Singapore get special access to an exclusive interest rate on shorter-term loans, but existing users benefit from zero processing fees and faster cash disbursement.

How Does Citibank Personal Loan Compare with Other Banks’ Latest Offers?

So, how does Citibank Quick Cash compare to top competitor loans offered by leading banks and financial institutions? Let’s review:

  Max loan amount Interest rate p.a Max loan tenure
Citibank Quick Cash  Up to 4 times your monthly salary 0% (for first 12 months)
3.99% (for longer tenures)
5 years
Standard Chartered CashOne $250,000 3.48% 5 years
HSBC Personal Loan $200,000 3.4% 7 years
DBS Personal Loan Up to 4 times your monthly salary 3.88% 5 years
UOB Personal Loan Dependent on monthly salary 4.25% 5 years
HL Bank Personal Loan Up to 4 times your monthly salary 3.88% 5 years

Perhaps the Citibank personal loan’s key selling point is the amazing 0% interest rate new applicants get access to if they opt for a shorter tenure. On top of this, the straightforward application process using the Citi app and the generous maximum loan amount also makes Citi’s latest offer stand out considerably from the competition.

How Do I Apply? 

If you want to apply for a Citibank personal loan, you’ll need to make sure you meet the following eligibility requirements:

Eligibility Criteria

You must be at least 21 years old and, either:

  • A Singapore citizen or permanent resident with a minimum annual income of $30,000; or
  • A foreigner with a minimum income of at least $42,000

On top of this, if you want to see the right results when you submit your loan application, you’ll need to prepare a number of important documents for all the necessary checks. Such documents include:

  • A Singapore passport, NRIC, or Employment Pass
  • Your past 12 months’ CPF statement 

If you are self-employed, you may also need to provide:

  • Your Income Tax Notice of Assessment
  • Your latest computerized payslip

It’s worth noting that you may be required to pay a cancellation fee to the bank or incur other administrative charges if repaying your loan early. The same applies when opening a deposit account or credit account with Citibank – which, for first-timers, is a preliminary requirement ahead of applying for the actual loan.

Applicants that don’t qualify should keep in mind that Citibank offers plenty of other products and services geared toward foreigners, self-employed individuals, and various other types of people. You can also try comparing the market to see what other kinds of loans are available elsewhere using Instant Loan’s comparison tool.

Unsure About the Citibank Personal Loan? Compare Other Options with Instant Loan Today!

The latest Citibank personal loan products offer great potential to borrowers who want to secure low-interest rates on funds of up to 4 times their annual income. However, depending on your unique loan amount and tenure requirements, credit limit, and history, and other factors, Citi products might not always be the best option for you.

Here at Instant Loan, we work hard to connect borrowers with the best loan deals and products that meet their needs. Our tried-and-tested loan comparison tool can help you compare the best loans and lowest interest rates with the click of a button. This will help you fund one-off purchases that are currently out of reach or pay off those credit cards and other debts quickly and efficiently. 

Our service only brings up search results for loans offered by trusted financial institutions from across Singapore – meaning you can be sure of great rates, a fantastic service, and faster loan approval processes than you might find if using a bank.

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