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Citi Credit Card Loan

Loan on Citi bank credit card or Citi Quick Cash is an exclusive facility that is offered to Citi credit cardholders. Such a loan can help in catering to planned and unplanned expenses, such as weddings, children’s education, and medical expenses. Depending on your eligibility you can opt to avail a loan on a Citi credit card. The loan amount and the interest rate will, however, vary depending on your relationship with the bank, your Citi credit card performance, and your overall profile.

Features and Benefits of Citi Credit Card Loan

The features and benefits of availing loan on Citi credit card is listed below-

  1. The transfer of funds happens in an instant to Citi Bank account and within one business day.

  2. The amount of money you can loan on your credit card can be within or above (subject to approval) the credit limit on your Citi credit card.

  3. You can choose a flexible tenure ranging from 6 to 48 months so that you can repay the Citi card loan on your terms.

  4. Availing a Citi credit card loan is a simple and hassle-free process, involving no paperwork.

  5. The loan on Citi credit card does not involve a lock-in period, as a result, you can opt to foreclose your loan at any point of time.

How to Apply for Loan on Citi Credit Card

Citi Quick Cash facility can be availed conveniently and quickly on your credit card, using any of three methods mentioned below-

Citibank Online (Net Banking)

  • Go to the Citibank Online page

  • Using your User ID and Password complete the login process

  • Select the ‘Loan on Credit Card’ option

Here, you can also opt to convert the outstanding balance on your card into easy EMIs

Citi Mobile app

  • Download and register on the Citi Mobile app

  • Using your User ID and Password complete the login process

  • Select the ‘Loan on Credit Card’ option

  • Select the repayment plan you prefer

  • Enter the loan amount you wish to avail and click on ‘apply’

Once the request is placed, the funds will be transferred to your bank account


  • Visit the ‘Citibank Loan on Phone’ page

  • Enter the details requested for

  • Click on ‘I authorise’ followed by ‘Talk to us Now’

Once the request is placed, a Citibank customer care representative will contact you to discuss your loan application.

Modes of Disbursal of Citi Credit Card Loan

The loan on Citi credit card can be availed through either of the two ways

  • Direct fund transfer mode

  • Bank Demand Draft (DD)

As soon as the Telephonic Personal Identification Number (TPIN) /One-Time Password(OTP) in the case of Loan on Phone, and Internet Personal Identification Number (IPIN) /One-Time Password(OTP) in case of Loan on Citi online website is confirmed and validated, the loan amount will be directly transferred to the bank details provided at the time of placing the request.

In the case of availing DD, the Bank Demand Draft is valid for a duration of 90 days since its issuance.

Calculation of Interest on Citi Credit Card Loan

The interest amount calculation is done in two steps. It depends on the loan activation date.

1) Calculation of the initial amount of interest-

The initial interest charged on the Citi bank loan on a credit card can be calculated using the formula-

Loan Amount Availed x Interest rate% x (number of days /360 days)

The 'number of days' in the equation refers to the actual number of days since the loan has been issued/ disbursed/ encashed to the credit card’s immediate billing date for the initial interest amount.

Rate of Interest refers to the interest charges that would be levied on the loan amount. It is communicated when the loan is availed.


Loan amount

Rs 2,00,000

disbursal/encashment date



24 months

Interest rate


Immediate Billing Date


Initial interest amount: 2,00,000 *18%*24/360 = INR 2400

This amount will be billed into the statement generated on the immediate billing date and will be a part of the minimum amount due.

2) Calculation of the EMI’s Interest component:

The Citi credit card loan EMI’s interest rate can be calculated using the formula-

Loan Amount Outstanding x Interest rate% x (number of days /360 days)

In the case of top-ups, the earlier loan will be closed, and the new interest rate communicated will be applicable to the consolidated loan amount.

Along with interest, a one-time transaction fee of 2.5 percent of the loan amount (or INR 300, whichever is higher) is charged on the loan.

Repayment Process of Citibank Credit Card Loan

In case of direct fund transfer, the first EMI on the loan amount, based on interest communicated, will be billed on the immediate billing date of your credit card.

For Demand Draft issued customers, however, the initial interest amount is billed post the encashment of the bank DD and the EMI amount will be billed on the billing dates, every month, throughout the repayment tenure. In case, the demand draft is not encashed within the first 90 days, it will be canceled, and no charges will be levied.

If the DD is issued against any other bank apart from Citibank, the loan amount will be considered to have been availed from the date of issuance of the draft.

Why Choose Citi Credit Card from Finserv MARKETS

There are multiple reasons to choose Finserv MARKETS to apply for Citibank Credit Cards:

  • Rewards & Discounts

Get some of the best rewards on Citibank Credit Cards on Finserv MARKETS. Apply for Credit Cards online at Finserv MARKETS and get Credit Cards packed with rewards and offers from your favorite brands.

  • One Platform, Many Cards

At Finserv MARKETS, we have just the right amount of Credit Cards for you. Whether you want a Credit Card that gets you discounts on shopping or the one that saves on your fuel costs, we have it all!

  • Stringent Security Measures

With cyber-crime a reality, your Credit Card comes with features that ensure safety against any kind of fraud. Apply online and avail the best credit card for you now!

  • Convert Purchases into EMIs

Purchases through any of the Citibank Credit Cards available at Finserv MARKETS can be converted into EMIs easily. Apply for a Citibank credit card online today.

  • Joining Benefits

Enjoy assured joining benefits on multiple Credit Cards at Finserv MARKETS as soon as you join. Get amazing discount vouchers from top e-commerce sites, fuel surcharge waivers, cashbacks, and much more!

Frequently Asked Questions

  • ✔️What is an instant loan on Citi Credit Card?

    Instant loan on Citi credit cards involves the transfer of funds above or within your credit limit, as a loan, directly to your bank account.

  • ✔️Is a loan on a Citi Credit Card good?

    Availing loan on Citi credit card is simple and easy. You can choose the repayment tenure based on your convenience, making repayments hassle-free.

  • ✔️Which Citi credit card is best for a loan?

    Instant loan facility is available on Citi credit cards- Citi Cash Back Credit Card, Citi Rewards Credit Card, Citibank PremierMiles Card, Citibank IndianOil Credit Card, etc.

  • ✔️What is Citi Card Flex Loan?

    A Citi Card Flex Loan is a simple and fast way to access funds leveraging your existing Citi credit card. As a result, there is no need for an application, origination fee, or credit inquiry. It has an affixed APR which doesn’t change during the loan duration. You can select the tenure and the amount based on your eligibility.