About Citi Bank Personal Loans
Citi Bank is one of the largest financial institutions in the world, and has top industry ratings. It serves over 200 million customers in 100 countries. City Bank is organized in four segments: Consumer Banking, Global Cards, Institutional Clients Groups and Global Wealth Management. The consumer-banking segment offers a large number of services including real estate lending, student loans, car loans, checking accounts, savings accounts, money market, IRAs, CDs, online banking and personal loans.
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Types
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Citi Bank offers two types of personal loans. Personal line of credit is a Checking Plus account with a variable rate. The personal loan is a fixed rate. You can apply for either loan online. The personal line of credit requires a checking account with Citi Bank. The personal loan requires a checking account, savings account, CD or a money market account.
Features
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Citi Bank has a number of choices for each personal loan. If you apply for personal line of credit online, you can borrow up to $10,000. If you apply on the phone or at a branch office, you can borrow up to $25,000. With the personal loan, you can borrow up to $10,000 online and up to $50,000 by phone or at a branch office. There is no application fee for either loan. Most transactions are completed within 3 to 5 days.
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Benefits
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The benefits of borrowing from Citi Bank are numerous. With personal line checking, you can transfer funds from your credit line to your credit account as needed. Payments are deducted each month from your checking account. With the personal loan, you can choose 2 to 5 years to repay the loan. Fixed rates are competitive, and if you sign up for automatic deductions from your checking account, you receive a lower rate.
Considerations
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If you want a personal loan for education, Citi Bank offers six options. Three of these loans are part of the federal government programs: Federal Stafford Loan, Federal Graduate Plus loans and Federal Parent Plus loans. The other three are CitiAssist loans: Undergraduate and Graduate loans, Health Professional and Residency loans, and Law and Bar Exam loans. The CitiAssist loans take 20 to 25 years for repayment.
Potential
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Citi Bank also offers Home Equity loans and Equity lines of credit, money that can be used for most anything. Banking online is easy to set up on their website. You can pay bills, view your accounts, make transfers and send wires. Customer service is available 24 hours a day, 7 days a week. You can also get online banking statements sent to your email account.
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Resources
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