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If you are falling short of capital in running your business efficiently, opting for a business loan would be a viable option. This type of financing can help you meet your business cash requirements with ease and result in a smooth overall company functioning.

In this regard, Citibank offers business loans through its line of offerings, known as CitiBusiness. A Citibank business loan can help meet your working capital requirements. You can obtain various MSME loan products, including overdrafts, capital expenditure loans and import and export loans. Citibank Business loans are specially curated for business persons to help meet their financial requirements, which aids in smooth functioning of the business.

Keep reading to get more insights on business loans offered by Citibank.

Citibank Business Loan Interest Rate and Charges

Citibank offers loans at attractive interest rates, resulting in an affordable cost of borrowing. Go through the table below to know the various Citibank business loan rates:

Interest rate

12% to 18% depending on business requirements

Processing fee

Up to 2% of the loan amount

Loan prepayment charges

3% - 4% of the balance amount

Late payment of EMI charges

4% per month on the principal overdue

Renewal fee

2% of the loan amount

Pre-closure charges

Up to 2% of the outstanding amount

Note that the interest rate charged by Citibank is applicable at the time of signing loan agreement. The rate is subject to change at the discretion of the bank and you should always check the rates carefully before applying.

Citibank Business Loan EMI Calculator

Loan Amount
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Monthly EMI

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Total Amount Payable
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Citibank Business Loan Documents

To obtain a Citibank business loan, prospective borrowers need to submit a few documents pertaining to their business. Find Citibank business loan requirements in the below points:

1. For individuals, companies or firms 

  • PAN card

2. A copy of any one of the following documents

  • Aadhaar Card
  • Passport
  • Voter's ID Card
  • PAN Card
  • Driving Licence

3. A copy of any of the following documents as address proof:

  • Aadhaar Card

  • Passport

  • Voter's ID Card

  • Driving Licence

4. Last six months bank statement

5. Latest ITR with calculation of income, P/L statement and balance sheet for the last two years; CA certified

6. Business continuity proof

7. Article of Association

8. Memorandum of Association

9. Partnership deed copy

10. Board resolution

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Citibank Business Loan Eligibility

Citibank business loans come with easy eligibility parameters. Thus, you need to consider the following eligibility criteria before applying for business financing:

  • Applicants must be self-employed in the production, buying, selling, or provision of services.

  • The company should have been in operation for at least three years.

  • The business loan applicant must be at least 21 years old at the time of application. Furthermore, the individual's age at the end of the loan term cannot be more than 65.

Remember that meeting these eligibility parameters will help you obtain Citibank small business loans in a hassle-free manner. Additionally, if you maintain a healthy credit score, you may be able to negotiate better terms with the bank.

Features and Benefits of Citibank Business Loan

Citibank loans for small businesses entail various features and benefits. Find about them below:

  • Extensive local presence

Citibank features an extensive local presence with over 35 branches in 20 Indian cities. This will help you address your concerns with the bank in a convenient and hassle-free manner.

  • Global network

The bank also maintains a network in more than 100 countries. It also has direct relationships with more than 6500 correspondent banks. 

  • High LTV

The LTV ratio for Citibank commercial capital expenditure loans is up to 80% for property backed lines. This will ensure you receive a high loan amount, allowing you to meet your business’ financial requirements with ease.

  • Team of specialists

Citibank features a team of specialists who are always ready to assist you regarding your questions and concerns. Their certified and trained relationship managers ensure that you receive the best service possible.

  • Minimal documents

To obtain a Citibank business loan, you do not need to submit extensive documents. Simply submit a few documents for personal identification and keep your business-related documents handy for smooth application processing. 

Types of Business Loan Schemes offered by Citibank

Citibank offers the following types of business loans under CitiBusiness:

1. Working capital management

This financing provides facilities for overdraft at attractive interest rates based on LIBOR. It also consists of dropline overdraft, which is a unique combination of overdraft and term loan. 

2. Capital expenditure

This facility is offered for Citibank for the purchase of fixed assets and construction of a warehouse and other factory premises. To obtain this, you need to keep a property as collateral. 

3. Export and import finance

Export and import finance from Citibank offer pre and post-shipment credit in rupees and foreign currency at attractive LIBOR rates.

How to Apply for Citibank Business Loan

Applying for a business loan from Citibank is easy with an online application. You simply need to follow these steps:

  • Step 1: Visit the official website and navigate to ‘CitiBusiness Solutions’.

  • Step 2: Click on “Apply Now”.

  • Step 3: Fill in the application form with all necessary details.

  • Step 4: Click on “Call Me”.

Following this, the bank’s relationship manager will reach out to you regarding the proceeding steps. Remember to keep all documents handy beforehand for a smooth application process.

Citibank Commercial Vehicle Loan and Construction Equipment Finance

Citibank also offers affordable loans for the finance of commercial vehicles and construction equipment. Here are a few features of this financing:

  • Finance the purchase of both old and new commercial vehicles and construction equipment

  • Loans at competitive interest rates

  • Finance available for a wide range of popular commercial vehicles and construction equipment

  • Fixed interest rate for monthly payments that are predictable

  • A quick loan disbursement process

Citibank Business Overdraft Facility

You can avail the benefits of Citibank business loan overdraft facility. Find the key features of this facility in this table:

Interest rate

10.75% - 13.25%

Required margin

50 to 70%

Overdraft amount

Rs.1 Lakhs – Rs.20 Lakhs

OPE (Out of Pocket Expense)

Up to 1% of the line amount

Penal interest

2% per annum on the applicable interest rate

Scrip withdrawal charges

Up to 2 scrips – Rs.100, for more than 2 scrips – Rs.250

Compare Citibank with Other Lenders

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Maximum Loan Amount
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Ambit Finvest

20% p.a.

₹50 Lakhs

36 months

4.4
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AYE Finance

28% p.a.

₹2 Lakhs

36 months

4.2
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Bajaj Finance Limited

9.75% p.a.

₹30 Lakhs

72 months

4.8
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FlexiLoans

12% p.a.

₹50 Lakhs

36 months

3.9
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IIFL Finance

18% p.a.

₹30 Lakhs

60 months

3.9
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InCred

20% p.a.

₹3 Lakhs

48 months

4.1
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Indifi

16% p.a.

₹50 Lakhs

36 months

3.8
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KreditBee

15% p.a.

₹4 Lakhs

9 months

3.9
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Lendingkart Finance Limited

12% p.a.

₹50 Lakhs

36 months

4.3
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Protium Finance Limited

1.25% p.m.

₹50 Lakhs

72 months

4.0
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You can, thus, resort to Bajaj Markets to draw a detailed comparison between different business loan lenders in the country. This is a diversified marketplace housing various business loan offers extended by leading institutions. 

Citibank Customer Care

To contact the bank, you can consider reaching out through any of the following ways:

  • SMS Biz to 52484

  • Write at bizsuccess@citi.com

DISCLAIMER

The information and suggestions provided by BFDL hereinabove is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial advice or endorsement of any sort.

The information including interest rates or fees, loan amount and other charges with regard to any product, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks or NBFCs. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any application or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.

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FAQs for Citibank Business Loan

What is the tenure for a business loan from Citibank?

The maximum tenure for Citibank business loans is 48 months. 

What is the best possible rate of interest I can expect from Citi Bank Business Loan?

The best possible interest rate to expect depends on the financial requirements of your business. The rate of interest is decided by the bank at its discretion.

What is the Citibank business loan interest rate for existing customers?

Citibank business loan interest rate for existing customers depends on individual business requirements.

What is the minimum turnover required for a Citibank Business Loan?

The minimum turnover for your business would depend on the type of loan you wish you choose and the loan amount you require.

Who can take a Citibank business Loan?

Any self-employed individual or firm and company can obtain a Citibank business loan on meeting the eligibility parameters.

Does Citibank check for CIBIL scores for business loans?

Yes, CIBIL score is an important parameter for lending. Thus, consider maintaining a healthy credit score for easy loan approval.

What is the minimum and maximum business loan amount offered by Citibank?

Citibank offers up to 80% of the property value for capital expenditure loans.

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