Getting a Citibank Personal Loan? Know Its Application Requirements and Process

Venus Zoleta

Venus Zoleta

Last updated August 31, 2022

Citibank is primarily known for its credit cards that complement a wide range of lifestyles and needs. But did you know that Citibank also has a good loan product that’s worth checking out?

Such is the Citi Personal Loan. It has a lot of exciting features and unique selling points that make it a better choice over other loan products in the market.

Interested? We’ve pulled together a comprehensive guide for you, from this loan’s uses to interest rates. We’ve also included a quick Citibank personal loan application guide in case you decide to avail of this product.

Note: This product is sold by Union Bank of the Philippines, using certain trademarks temporarily under license from Citigroup Inc. and related group entities.

✔️ What is a Citi Personal Loan?

The Citi Personal Loan is a financial product that borrowers can use for emergencies and other goals in life. It’s an unsecured loan, meaning that you don’t have to pledge an asset as a form of repayment to the bank.

✔️ What Can I Use the Citibank Personal Loan For?

A personal loan from Citibank can be used for a wide range of purposes, including the ones below.

Business Expansion

citibank personal loan application for business expansion

If you're planning to start a business and need some sizable capital, the Citi Personal Loan can help you. You may also use the proceeds of your loan to expand your inventory if you’re already running a business.

Home Renovation

Want to increase the resale value of your home? Is your family growing that you already need to expand your home? Or do you need to have your house repaired after a typhoon or any natural disaster?

The funds that you’ll receive from the Citi Personal Loan could be big enough to help you renovate your property.

Personal Growth

You may be a returning college student, or you may be planning to enroll in a baking class for your future patisserie. The Citi Personal Loan can also be used for paying your tuition or funding your other personal growth endeavors.

Kids’ Education

Citibank personal loan application - loan purposes

If your payday doesn’t coincide with your children’s tuition payment schedule, you can borrow money from Citibank to cover such expenses. Moreover, the surpluses of your loan can be used to buy your kids’ laptop, school supplies, books, and learning materials.

Debt Consolidation

There’s a prevailing belief that you shouldn’t pay your debt with another debt. But with Citibank’s personal loan, this move is a practical one. You can use the proceeds to fully pay an existing high-interest loan. That way, the only loan that you‘ll need to repay is the one from Citibank. You get to save a lot on interest since this loan product has low interest rates.


Weddings cost a lot to organize. If you’re looking to add some funds to your budget, the Citi Personal Loan may provide a large sum of money to sufficiently cover your wedding expenses.

Emergencies and Unexpected Problems

Has someone in the family been hospitalized? Is the car that you’re using for livelihood broken? During these emergencies, you can always count on the Citi Personal Loan.

Note: Remember that the Citi Personal Loan is multi-purpose in nature, so you can use the loan proceeds in whichever way you want. However, use the cash with utmost caution. Don't use the borrowed money in seedy transactions and illegal affairs.

Make Your Goals Future-Proof with a Citi Personal Loan

moneymax citibank personal loan promo

Whether it's for an unexpected emergency, a planned vacation, or a major home renovation, you can achieve your financial goals with a Citi Personal Loan.

Borrow from ₱20,000 up to ₱2 million and pay for your loan for up to five years. And if you apply through Moneymax until September 30, 2022, you can get rewards worth up to ₱17,490 upon your Citi loan disbursement. Read the full terms and conditions here. Apply now!

✔️ Why Should You Apply for a Citi Personal Loan?

There are many reasons you should go for a Citi Personal Loan application. Here are some of the loan product’s features that may convince you to apply.

Fast Loan Approval

citibank personal loan application - fast approval

Citibank approves personal loan applications in as fast as 24 hours, making it the bank with the quickest loan approval time in the Philippines. Other banks take at least five to seven banking days or longer to approve a personal loan.

With the Citi Personal Loan, borrowers can get approved without the need for collateral or a guarantor. Fast approval, of course, depends on the borrower's eligibility and completed requirements.

High Loan Amount

Borrowers can avail of a Citi Personal Loan with an amount ranging from ₱20,000 to ₱2 million. Thus, the loan from Citibank can be used for a wide array of purposes. Just keep in mind, though, that the actual loan amount is subject to the bank’s approval.

Flexible Loan Terms

citibank personal loan application - flexible terms

Another advantage of the Citi Personal Loan is having the longest repayment term in the Philippines of up to five years. Borrowers can choose to repay their personal loan in 12, 24, 36, 48, or 60 months, depending on how much they can afford to pay per month.

✔️ How Do I Qualify for a Citibank Personal Loan?

To be eligible for a personal loan with Citibank, a borrower must meet all these criteria:

  • 21 to 65 years old
  • Filipino or foreign resident with a valid Philippine billing address
  • Employee or self-employed professional/entrepreneur with a minimum gross annual income of ₱250,000
  • Must be a principal credit cardholder with Citibank or any other bank
  • Must have a taxpayer identification number (TIN)

✔️ What are the Required Documents for a Citibank Personal Loan Application? 

Citibank requires borrowers to submit a photocopy of the following documents (except for the personal loan application form, which should be an original copy).

Citi Personal Loan Requirements for Filipinos

  • Completed online Citi Personal Loan application form[1]
  • Valid government-issued ID with photo and signature
  • For employed borrowers: Latest 1-month full payslip/Latest income tax return (ITR) or BIR Form 2316
  • For self-employed borrowers: Latest ITR or BIR Form 1701 and audited financial statements with independent auditor's report and balance sheets and tax receipt

Citi Personal Loan Requirements for Foreigners

  • Alien Certificate of Registration (ACR) or valid passport
  • Any proof of residency in the Philippines:
    • Immigrant Certificate of Residency (ICR)
    • Visa and work permit or Alien Employment Permit (AEP) with a validity of more than one year
    • ACR I-Card with a permanent visa status or validity of more than one year
    • Special Resident Retirement Visa (SRRV)
    • Special Resident Investors Visa (SRIV)
    • For expats employed in the top 2,000 companies: Employment contract or letter from the company HR printed on company letterhead with name, job title/position, and confirmation of term

✔️ What are the Steps for the Citibank Personal Loan Application?

citibank personal loan application - fast process

Once you've confirmed that you're qualified for a personal loan from Citibank, have all the necessary requirements, and can afford the monthly repayments, you can already proceed with your Citibank loan application. The process is simpler than you expect.

Here's a step-by-step guide to help you complete your Citibank personal loan application.

How to Apply for Citi Personal Loan Online

Make your Citi Personal Loan application process simpler and faster by doing it online. It's as easy as 1-2-3.

  1. Access the Citi Personal Loan Online Application page and fill out the short online form.
  2. Wait for a phone call from a Citi sales officer the following day to verify your application.
  3. Email the required documents to
Apply Now

✔️ FAQs on Citibank Personal Loan Application and Payment

1. The Citi Personal Loan Online Application system is not working. What should I do?

If you always get a system error message when applying for a Citi loan online, clear the cache on your browser and device, and then try submitting your application again. You may also try using a different browser or device.

2. How can I improve my chances of Citibank’s 24-hour approval?

While Citibank does approve certain loan applications within 24 hours, not all borrowers can get approved that fast. How quickly you'll get approved for a Citibank personal loan depends on whether the documents you submitted are complete or not and the result of the bank's credit evaluation, among other factors.

Here's what you need to do before and during your Citi Personal Loan application to raise your chance of getting approved fast:

  • Check your credit score and report. Doing this means more work and time spent prior to submitting your Citi Personal Loan application. But checking your credit score and report is a lot better than wasting your time and effort applying for a loan that would end up getting rejected because of a poor credit score.
  • Double-check your Citi Personal Loan application form to avoid incomplete and inconsistent entries. All mandatory fields should be filled out.
  • Make sure your documents are complete. 
  • Submit your documents to Citibank by 5 p.m. from Monday to Thursday (except for the day before a holiday). The bank processes documents sent on a Friday or a day before a holiday on the next business day.

3. How can I check my Citi personal loan application status?

Generally, Citibank will be the first to call you to confirm the approval of your application. If your application has been approved, the bank will arrange your mode of disbursement.

If you don't hear from Citibank several days after you applied, call the bank's hotline (available from 8 a.m. to 9 p.m. daily) to check your Citi Personal Loan application status.

Here’s how to verify your Citi Personal loan Application status via CitiPhone:

  1. Dial (02) 8995-9999.
  2. Enter your 16-digit Citi credit card number.
  3. Press *2.
  4. Press 3 and then 0.

4. How will I receive my loan proceeds?

citibank personal loan application - disbursement

As soon as Citibank approves your personal loan application, you'll receive another phone call to finalize the details of releasing the loan amount.

Here are your options for claiming your loan proceeds:

  • Manager's check that you can pick up from a designated Citi branch or have it mailed to your billing address
  • Funds transfer to your specified bank account

The bank will also require you to review and sign a Loan Disclosure Statement (DS). Also, be ready to submit post-dated checks or PDCs[2] for the monthly loan payments based on the schedule indicated in the DS.

After submitting the signed DS and PDCs, Citibank will then release the funds to you. Note that only the approved borrower can receive the loan proceeds; the funds will not be released to somebody else.

According to Citibank, it usually takes less than a week up to 12 calendar days (after the call from the bank) for borrowers to receive their loan amount.

Related reading:

5. Can someone else receive the Citi Personal Loan proceeds on my behalf?

You may be thinking of issuing a special power of attorney (SPA) or employing similar means to have someone receive the loan proceeds. But unfortunately, Citibank doesn’t allow this arrangement. For your security, the money will only be released to you, the loan applicant.

6. Are there fees I need to cover?

Here are the personal loan fees[3] you should pay when borrowing from Citibank:

  • Disbursement fee – ₱1,750 per disbursement
  • Documentary Stamp Tax (DST) – ₱1.50 per ₱200 of the loan amount
  • Monthly late charge – ₱500 or 6% of the overdue amount, whichever is higher
  • Closure handling fee – 4% of the unbilled principal component of the loan that is prepaid
  • Returned check fee – ₱1,500 per check that has bounced or has been returned due to insufficiency of funds, uncollected deposits, stop payment orders, and alterations or erasures on the check
  • Attorney’s fees and other judicial fees – You’ll have to cover these fees in case you default on your loan.

7. How should I pay for my Citi Personal Loan?

Citibank accepts only post-dated checks as a form of loan payment. Approved borrowers are required to issue PDCs for the monthly payments upon release of the loan proceeds.

8. When will my loan payments start?

Your first equated monthly installment (EMI) will start from the second succeeding month after you get your personal loan. For instance, the EMIs for a loan approved in January will begin from March 1st. Always take note of the due date to avoid penalty fees.

Final Thoughts

If you’re cash-strapped and looking for a reliable lender, make sure to include Citibank on your list. The Citi Personal Loan is among the best loan products on the market, as it has low interest rates.

Furthermore, its high loan amounts mean that you can use the money for a wide array of purposes, such as home improvement, debt consolidation, emergencies, business growth, emergencies, and more.

May the Citibank Personal Loan application guide above help you improve your chances. To learn more about getting a personal loan from Citibank, call (02) 8888-CASH (2274) and speak with a loan officer. Good luck with your Citi personal loan application!

Note: This product is sold by Union Bank of the Philippines, using certain trademarks temporarily under license from Citigroup Inc. and related group entities.

Below is a list of other best personal loan companies and their loan features. Compare your options and apply through Moneymax!

Personal Loan Providers Minimum Loan Amount Minimum Annual Income Approval Time

Citibank Personal Loan  
(This product is sold by Union Bank of the Philippines, using certain trademarks temporarily under license from Citigroup Inc. and related group entities.)

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100,000 250,000 Fast approval time in as fast as 24 hours
Maybank Personal Loan

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50,000 300,000 Apply for a loan online in just a few clicks
RCBC Bank Personal Loan

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50,000 360,000 Get approved within 5 to 7 banking days
PBCOM Personal Loan

₱40,000 ₱420,000 Get approved within 3 banking days
SB Finance Personal Loan

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₱30,000 ₱360,000 Get approved within five banking days
CIMB Bank Personal Loan

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30,000 180,000 Apply within 10 minutes and get approved in 24 hours
HSBC Personal Loan

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30,000 168,000 Get approved within 5 to 7 banking days
EastWest Bank Personal Loan

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₱25,000 ₱180,000 Get approved within five to seven banking days
BPI Personal Loan

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20,000 300,000 Get approved within 5-7 banking days
CTBC Bank Personal Loan

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10,000 180,000 Get approved within 3 to 5 banking days
EasyRFC Multi-Purpose Loan

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10,000 120,000 Fast approval time in as fast as 24 hours


Venus leads the blog content strategy and optimization at Moneymax as the Head of Editorial Content. She has 15+ years of experience in content marketing, corporate communications, and public relations. Venus graduated cum laude with a Journalism degree from the University of the Philippines Diliman. Before joining Moneymax, Venus had written informative guides and articles, specializing in personal finance and digital marketing. She also invests in stocks, mutual funds, VUL, and Pag-IBIG MP2. A hardcore Hallyu Tita, she enjoys bingeing K-dramas on Netflix while bonding with her rescued cats. Follow Venus on LinkedIn.