Citibank Philippines Loan Review: Everything That You Should Know

Citibank Philippines Loan Review: Everything … image

At last, you can have a loan that meets your needs in one click. No hassles. No more waiting for weeks and months processing a loan. You can get it as quickly as you need – within 24hours.

Citibank Personal Loan enables customers to borrow for multiple needs and pay in part. It covers different financial needs. Good thing, it has a flexible payment system that makes it very easy to access. Plus, it doesn’t require collateral, guarantor and those hassles that may limit your opportunities.

Another good feature that endears it to many is that it’s accessible online – both on the website and via mobile app. So, borrowers can have easy access and fewer hassles in applying for the loan.  

A Few Things to Note

This service exists to support Filipinos access to quick loans with favorable conditions including competitive rates. There are other services of the institution.

You can apply for the loan for different purposes. It’s not tied to a particular need. So, whether it’s needed for paying off your kids’ school fees, going on leisure travel, affording some essentials, or etc the loan will help you sort it out. Good thing, it doesn’t require collateral or guarantor.

The loan comes in flexible amounts. You can get up to ₱2,000,000 to pay back in a period of 12 or 60 months. However, this doesn’t come without its own pre-conditions. For instance, you must have attained the age of 21 to be eligible. 

See also: The guide about personal loan in the Philippines

Citibank Loan Review: See How It Compares with Other Lenders

As stated much earlier, with Citibank, you can borrow in different ways. There’s so much in it for Filipinos. 

So, why choose this institution instead of others?

If you need loans that will help you sort out the personal stuff, you might turn to Citibank. It requires no processing fee. But that’s not just all. Citibank is one of the few lending platforms that have three ways of rendering services to customers. The online application is available either on its website or their app. Its branches across the Philippines are equally open for the same services.

More so, Citibank offers one of the lowest interest rates with flexible payment methods that make borrowing easy and less stressful to its customers. To check where it stands with competitor lending platforms, see the table below:

Loan Platform Processing Fee Maximum Tenure Best Interest Rate
Citibank None 60 months (5 years) 10.99%
ICICI Bank P999 5 years 11.9%
Shriram City Union P2,000 3 years 28%
HDFC Bank 2.50% 5 years 10.99%
RBL 2% 5 years 13.99%

The Ways Citibank Updates You on Your Application

Sure, you want to hear from the lenders after submitting an application. You need to.

There’re different means you can receive notifications or messages from this institution. And what makes it even better is that you get a chance to choose by which means you’d like to be reached. Choose the one you feel will be most convenient and they’ll reach you through that. There’s an option for email, SMS alert, or even postal service. 

Soon after that – in most cases within 20 hours – Citibank will inform you about the outcome. Your request will be either approved or declined. 

The reply from the bank also informs you about all the details of borrowing. For instance, if your application is accepted, you’ll hear the details of the loan to get you acquainted. But if it’s not, it will also give reasons why and offer some tips that could help you in a future application.

See also: HSBC Review: Personal Loans and Credit Cards

Citibank Loan Application Form: Filling It in the Right Way

The form is available on the institution’s site. However, if you prefer not to use a browser version, you can find it in the mobile app. When you log in, navigate to the loan section and register yourself.

There’s yet another option available to new or potential customers to fill the form. Just walk into any of its branch locations in Filipino. There you’ll find, fill and submit the forms. You’ll also be required to present all the needed documents.

Citibank Personal Loan Calculator: What It Is and How It Works
You need to know how much you need to borrow, right? Or is it how much interest you’ll pay? Whatever it is, there’s the need to find a calculator to work out the sum. 

Citibank has simplified the process for you and other customers. Unless you are very good with calculations, you’re likely to commit mistakes while calculating by yourself. Against this backdrop, Citibank built digital calculators to offer help in working out percentages. Discover the amount payable for each tenure. 

To access it, visit their site, log in and navigate to where the calculator is located. Type in the figure you need. The system performs the tasks and shows you amortizations you’ll may per month and the tenures.

See also: EastWest Bank Personal Loans and Other Offers

How to Check for Citibank Complaints

There’re different ways you can leave a complaint about Citibank. There’s an option to reach one of the customer support agents using any of the numbers provided here. Also, they have a Live Chat feature which enables real-time attendance to customers who have questions to ask or complaints to leave. And then, their branch locations are open to attend to customers.  Visit any of the branches for whatever reason you have.

Requirements for Citibank Personal Loan

It’s wise to know everything a process of getting a loan includes before starting out. For receiving a Citibank loan, you’ll need to submit a few documents and meet certain demands. Else, you’re just wasting your time and effort. Consider the following things essential for getting your application approved:

  • The minimum age limit for application is 21 while the maximum is 65 years old
  • It’s only open to indigenous Filipinos or legal residents in Filipino
  • Ensure your Filipino address is verifiable

Are you an employee?

Then, ensure your minimum income per annum is at least ₱250,000

Do you run your own business?

Fulfill the demand of earning a specified amount in income over a period of about 3 months.

Needed Documents:

  • One valid Identity Card
  • A properly filled and signed application form. It’s accessible here.

As an employee, you will have to provide the following documents: 

  • Most recent Income Tax Return Certificate 
  • Last payslip covering one month

As a business owner, you’ll need to provide the following additional information: 

  • Your Latest Income Tax Return (BIR Form 1701)
  • An Audited Financial Statements (AFS) of your company or business accompanied by the report of an independent auditor, the tax receipt and balance sheets

You can send these details to Citibank for verification and approval via the email: [email protected]

See also: RFC Loan Review: Personal Loans for Different Purposes

What’s Citibank Loan Interest Rate?

As stated earlier, Citibank offers flexible and competitive interest rates for its personal loans. Here is a list of its variable interest rates:

Loan Type Interest Rate
To borrow for a 12-month tenure (200k or more) 1.26%
To borrow for a 24-month tenure (200k or more) 1.26%
To borrow for a 36-month tenure (200k or more) 1.30%
To borrow for a 48-month tenure (200k or more) 1.34%
To borrow for a 60-month tenure (200k or more) 1.38%
To borrow for a 12-month tenure (less than 200k) 1.46%
To borrow for a 24-month tenure (less than 200k) 1.46%
To borrow for a 36-month tenure (less than 200k) 1.46%
To borrow for a 48-month tenure (less than 200k)) 1.46%
To borrow for a 60-month tenure (less than 200k) 1.46%

How Do I Track My Loan Application?

Sure, it’s important for you to know if your applications are accepted or declined. Citibank has made this easier for its customers. They’ve provided a variety of options through which customers can track their application. They’re:

  • Go to their site to check. Just log in and visit the loan page of the site 
  • Use your phone contact. Look out for details on their site.
  • Use your reference number. This is the number you get shortly after your registration.
  • Calling the customer support team is also an option

What’s Citibank App; Where to get Citibank App?

Aside from its site and branch locations, Citibank also offers to obtain personal loans via the App. You can download the app on the Play Store and install it for easy access. 

How to Contact the Citibank Customer Support 

To reach Citibank's customer support officers for personal inquiries use 1860 210 2484.

How to Contact Citibank Chat Support

You have a few ways to reach the agents of the lender. They render solutions to customers through live chat support that allows giving quick responses to customers’ inquiries. The service is open from Mondays to Fridays, between 9 am and 8 pm.

  • If you are making general inquiries about the service use this LIVE CHAT link.
  • As for inquiries concerning your account, you can do that through Citibank Online. Go to their platform and log in. Select the “Contact Us” option when you log in, and then choose “Live Chat.” The system will ask you to input the OTP and it will send you in order further.

Procedures to Take to Get Citibank Number and Call 

Citibank operates with different contacts for its different locations across Filipino. Visit its site to view the contacts. There you’ll find all its branch locations and their contact details. 

Citibank Hotline: How to Reach It?

Here’re the Citibank hotlines. You can call and easily reach them on any of their numbers.

Metro Manila: 8995 9888

Metro Cebu: 234 9888

From Abroad: + 63 2 8995 9999

Where Are Citibank Branches in Filipino; How to Visit

This lender has many different locations across the Philippines. Again, identify the closest location, which you can reach more conveniently. Its site has all you need including the contact details of these places on the “Contact Us” page.  

Here’re some of the locations.

  • Makati Branch
  • Greenhills
  • Cebu 

Is Citibank Available Online; Can I Reach Citibank Online?

As a lending institution with a focus on online customers, there’s no doubt that Citibank has online lending options. It operates through its site and the mobile app aside from the physical locations.

Is Citibank Legit and Safe for You to Borrow?

Yes, Citibank is a legit lending company. The company equally has other widely subscribed businesses in the Philippines. It’s duly registered with the service mark of Citigroup®Inc and has been operating for many years. 

Is Citibank Open Today for customers?

Its branches are open from Monday to Saturday.

Mon-Fri: 8:00 am to 10:00 pm 

Sat: 9:00 am to 7:00 pm

Can I Know Access Citibank Loan from Any Location? 

Location isn't a barrier to internet banking. Everything is digitalized, including this lender. At any location you’re across the globe, you keep tabs with activities on your status. It’s equally possible to make transactions even in transit. Make sure you keep your device handy and you have a stable, fast network – that’s all that you need. 

Can a Student Apply?

No. A student isn’t eligible to apply.

Can a Housewife Apply?

You can only apply as a housewife if you are an employee or self-employed. However, refer to the requirements section to see what you need to submit during the application.

Can an Unemployed Person Apply for the Citibank Loan?

No. Unemployed persons are not eligible to apply. You need a monthly income to prove your creditworthiness and ability to pay back the loan.

How Many Times Can I Reloan in Citibank?

There is no specific number of times to re-loan. In fact, you have the ability to ask for a loan as many times as you want. Nevertheless, the bank’s approval or disapproval will be depended on how well you are in paying back the previous credit.

How to Repay the Loan from Citibank: Two Alternative Options

The steps are very simple. If you are hesitating about your ability to make online payments or just want to repay a loan physically, you can go to any of the Citibank offices. The bank’s employees will guide you on what to do further.Moreover, there’s still an option of making an online payment. The lender’s site contains the details. 

Where to Pay a Loan from Citibank

You can visit any of Citibank’s offices. You can equally make payments online via the site.

Ways to Repay a Loan from Citibank

A good thing is that you are able to to it in several ways, which makes it possible to choose the most convenient one. Citibank’s clients are provided with the possibility to make payment in any of the landbased branches. Moreover, using the Electronic Clearing System is also an option.

How Does Citibank Work?

Here are the ways of how Citibank works with customers:

  • Reviews customers’ application for either approval or rejection within 24 hours
  • Offers flexible loan repayment terms of 1 to 5 years
  • Requires no collateral or guarantor to offer loan 
  • Requires extra process to approve loans with huge amount up to 2 Million PHP

How to Check Balance on Citibank Account

You can check the balance on your Citibank Personal loan account through the following ways: 

  • By outreaching Customer Support: It is possible to ask the members of customer support to give you information regarding your balance. Be ready to confirm your personality. For this, check the contact – 1800 425 4059.
  • Using SMS alerts: Citibank delivers information regarding balance to your phone via SMS alerts when you make transactions. So, it’s easy for you to monitor transactions on your account.
  • Via Website and Mobile App: You can check your balance on the website or mobile loan app of Citibank. When you log in, navigate to the “check my balance” section.
  • In a physical office: Visit one of the landbased branches. Further, you will need to refer to one of Citibank’s employees who will guide you on what to do.

How to Compute Loan from Citibank

You can compute personal loan percentages on the site. Log in on their website and navigate to the Citibank Personal Loan Calculator. Just select the amount you intend to borrow, loan tenure and hit enter. It’ll automatically calculate your amortization. It’s that simple.

Getting Approval from Citibank: What You Should Know

There’s no need being unnecessarily tensed over approval from Citibank. Rest assured that if you reach the requirements, you’ll get approval easily. Another vital thing that’ll enhance your chances of getting approval speedily is maintaining a post balance on your Citibank account or credit cards – if you operate one.

The Best Way to Open Account with Citibank

The institution’s branches are designate locations you can open an account. However, for a quicker process, use its site or mobile app instead. Though you may need to submit some vital documents in person especially if the amount you need is huge.