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Citi Personal Loans: 2023 Review

Updated on April 19, 2023
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At a glance

Rating: 4.6 stars out of 5
Bankrate Score
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Rating: 4.9 stars out of 5
Rating: 4.5 stars out of 5
Customer Experience
Rating: 5 stars out of 5
Rating: 4 stars out of 5

About Bankrate Score

Regarded for its wide bank footprint and range of available products, Citi offers borrowers zero-fee personal loans to be used for a variety of financial purposes in amounts up to $30,000.

Loan amount $2,000-$30,000
APR from 11.49%-19.49%
Clock Wait
Term lengths 12 to 60 months
This lender is best for quick funding.

Best for quick funding

For borrowers who are in need of money as soon as possible, securing a Citi personal loan may be a good option. Following your application, which can be done completely online or with the assistance of a representative at one of the bank's branches, funds may be available as soon as that day. Having a Citi account will make the process even faster, as long as you request the funds be deposited in it.

Citi Pros and cons


  • Checkmark

    Fast funding.

  • Checkmark

    Autopay discount.

  • Checkmark

    Zero fees.


  • Close X

    Must be an existing customer.

  • Close X

    High minimum credit score.

  • Close X

    No joint applications.

Do you qualify?

  • Credit score requirements: Minimum credit score of 720 required. 
  • Income requirements: Not disclosed.
  • Co-signers and co-borrowers: Does not accept either co-signers or co-borrowers.

Citi also requires its borrowers to have a Citi deposit account open to apply for a personal loan, and if you have another personal loan application open it must be for six months or more. 

What Citi doesn't allow loan funds to be used for

Citi encourages borrowers to use funds for any large personal purpose such as a big one-time purchase or debt consolidation. Though the lender does not allow proceeds to be used toward post-secondary education or business purposes.

How this lender compares

Rating: 4.6 stars out of 5
Bankrate Score
APR from
Loan Amount
Term Length
12 to 60 months
Min Credit Score
Not disclosed
Rating: 4.6 stars out of 5
Bankrate Score
APR from
7.49% - 23.24%
Loan Amount
$3,000 - $100,000
Term Length
12 - 84 months
Min Credit Score
Not disclosed
Rating: 4.8 stars out of 5
Bankrate Score
APR from
Loan Amount
Term Length
24 to 84 months
Min Credit Score

Citi vs. Wells Fargo 

For borrowers that prefer the history of bank lenders, Wells Fargo has a similarly fast approval and funding process coupled with a wider range of repayment terms and — like Citi — no origination fee. Wells Fargo also offers a larger loan maximum of $100,000, which is great for borrowers looking to finance a more expensive purchase than what Citi allows for. Keep in mind that Wells Fargo only serves customers in some states — confirm your home state has a branch before exploring loan options. 

Citi vs. SoFi 

If you are looking for a digital borrowing experience SoFi is another excellent option for those with a strong credit standing. SoFi has a similarly fast funding process to Citi, and it has no required fees — but Citi has no fees at all. One major perk to borrowing with SoFi that Citi does not allow is the ability to add a co-borrower. Signing off on a joint application can be helpful for those who want to split funds with another borrower. 

Citi: in the details

What we like and what we don’t like

What we like 

  • Fast funding. Following approval, funds can be available as soon as the same day into a Citi account, up to two for an account not with Citi or five days or less for a check.
  • Autopay discount. A rate discount of 0.5 percent APR is available for enrolling in autopay when you apply for a loan.
  • Zero fees. Citi doesn't charge any fees for its personal loans — no origination, late or prepayment costs. 

What we don’t like

  • Must be an existing customer. Citi only lends to those who have a Citi deposit account open.
  • High minimum credit score. There is a minimum credit score requirement of 720, which can make qualifying more difficult.
  • No joint applications. Citi does not allow borrowers to apply with co-signers or co-borrowers. 

How to contact Citi

Borrowers can receive support over the phone Monday through Sunday from 9 a.m. to 11 p.m. ET at 866-422-0316. More than that, if you prefer in-person support Citi has branches across the country. The Citi site is also easy to navigate and common questions can be answered in the FAQ section.

How to apply for a personal loan with Citi

Those interested in a Citi personal loan can handle the application either in person at a Citi branch or completely online. Though, if you are applying for a loan greater than $30,000 in-person is the only option. 

If you are a Citi customer, you can sign in and apply. If you're not an existing Citi customer, you will need to create an account. The bank does not disclose specifics on what you will need to apply for, but you will likely need documentation on your income, proof of identification and other bank information. 

Following loan approval it is recommended that you enroll in automatic payments to ensure you never miss a payment, and so you can benefit from an APR discount.

Features and additional perks

Any existing customer with Citigold or Citi Priority will benefit from a 0.25 percent discount on the available interest rate. There is an additional 0.5 percent APR discount available to those that enroll in automatic payments.

Fees and penalties

Citi does not enforce any fees. This includes origination fees, prepayment penalties or late fees.

Citi Frequently asked questions

How Bankrate rates Citi

Overall Score 4.6 Explanation
Availability 4.8 Wide range of loan amounts and fast approval and funding process.
Affordability 4.8 Higher starting APR, but zero fees.
Customer Experience 5.0 Perfect score for a range of support all seven days.
Transparency 4.0 Most fees and some requirements are listed.


To select the top personal loan lenders, Bankrate considers 20 factors. These factors include credit requirements, APR ranges, fees, loan amounts and flexibility to account for a wide range of credit profiles and budgets. Bankrate reviewed over 30 lenders and gave each a Bankrate rating, which consists of four categories:

  • Availability: What the minimum loan amounts are, its eligibility requirements and loan turnaround are considered in this category.
  • Affordability: The interest rates, penalties and fees are measured in this section of the score. Lower rates and fees and fewer potential penalties result in a higher score.
  • Customer experience: This category covers customer service hours, if online applications are available, online account access and mobile apps.
  • Transparency: This category is measured by how accessible credit requirements, rates and fees are on the lender's page. We also took into account whether prequalification was available, as all these factors are key for consumers to make an informed decision.

Editorial disclosure: All reviews are prepared by staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.