Citifinancial Personal Loan Review

Citifinancial is part of the Citigroup, which is the world’s largest financial services provider.

Loan amount

The maximum loan amount available is 10 lacs. This amount is considerably lower than what many competitors offer in the market.

Interest rate

The interest rate is fixed at 21% for the entire duration of the loan. The rate is higher than the market average. Also there is no incentive of a lower rate for borrowers with good profiles and credit histories.

Charges

The processing fees are 2% of the loan amount which is more or less the industry standard. The prepayment charges are 4% of the outstanding amount. These are quite high and are a deterrent for people looking to repay their loans ahead of schedule.

Tenure

The tenure of the loan is upto 5 years which is more or less the industry standard.

Ratings

Reputation: 2.5/5

Loan amount: 2.5/5

Interest rate: 2/5

Charges: 2/5

Tenure: 2.5/5

Overall: 2.25/5