Citibank Business Loan

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 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:

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.

Before making a borrowing decision, it is advisable to assess your EMI obligations. This will help you create a budget plan according to the EMI payments, making the loan repayment smooth and hassle-free. 

In this regard, you may consider using a business loan EMI calculator easily available online. This online tool is extremely easy to use and displays accurate results within seconds. You simply need to feed in the loan amount, tenure and interest rate to begin calculation. 

Moreover, an online business loan EMI calculator shows the EMI schedule in relation to your business loan from Citibank. This schedule, also known as the amortisation schedule, will help you plan out prepayments and foreclosure in an informed way.

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.

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. 

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.

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 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

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

Before making a decision, it is crucial you compare the loan features offered by leading Indian lenders. This table will help you compare Citibank business loan with other lenders on the Bajaj Markets platform:

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. 

Here are a few factors that can affect your Citibank business loan interest rate:

• Creditworthiness of the business

One of the primary factors influencing the interest loan on a business loan is a company's creditworthiness. This is measured by its credit score or credit rating. Since lending is a risky business, the bank or financial institutions assess whether you will repay the loan amount within the given tenure through your credit score.

• Business financials

A company with solid business financials is a good candidate for a loan because such a firm can assure timely repayments. In this regard, a profitable business may also qualify for lower interest rates due to lower risk involved in lending.

• Repayment tenure

Apart from the above-mentioned factors, the repayment tenure also plays a crucial role in deciding the business loan interest. In this regard, the more the tenure is, the more interest you will have to pay in the long run.

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

• SMS Biz to 52484

• Write at bizsuccess@citi.com