Citibank Business Loans

Are you someone waiting for the perfect opportunity to get your business going in top gear? Citibank Business Loans offer you the opportunity that makes your dream a reality. Scale-up your business to new heights with Citibank SME (Small and Medium Enterprises) Loans that come with a host of benefits to meet your business needs. Here we are to help you understand the different types of loans that come under Citibank SME and Corporate Loans. You can find out more about these loans in detail and analyze in which class you or your company fits.

Features and Benefits of Citibank Business Loans

• Attractive interest rates

• Trade Finance lines with LIBOR denominated rates to make your business globally competitive

• Finance of upto 80% of the collateral value is offered for property-backed facilities

• Short-term-demand loans for upto 6 months

Interest Rates and Other Charges

Type of Charge	Charge Levied
Interest rate	16%-18.99%
Processing fee	Up to 2% of the loan amount
Renewal fee	Annual renewal is charged up to 2% of the loan amount
Penal interest rate	4% above the prevailing interest rate charged on the outstanding loan amount
Pre-closure charges	Up to 2% of the outstanding loan amount

Types of CitiBank Business Loans

Overdrafts

• Ideal for managing your day-to-day cash flow.

• An added benefit of interest being charged only on the utilized amount.

 

Trade Finance

• Import Finance (Buyers Credit) and Export Finance (pre & post shipment).

• LIBOR denominated interest rates to make your business competitive.

 

Short-term Demand Loans

• Short-term-demand loans of upto 6 months of tenor are available as a sub-limit of the Overdraft facility.

• Available in both INR and foreign currency denominations.

• Attractive interest rates.

 

Dropline Overdrafts

• An Overdraft facility where the line amount gets reduced by a fixed amount every month.

• A unique combination of overdraft and term loan.

• Interest is charged only on the amount utilized.

 

Secured Term Loans

• Term loans against property/stock and book debts as collateral.

• Commercial Property Purchase loans to expand your business.

• Maximum LTV of 80% for property-backed lines.

Documents Required for Citibank Business Loans

Here is the list of the documents required to apply for a Citibank Business Loan.

• PAN Card of the Individual/Company/Firm

• For identity proof:

  • PAN Card

  • Aadhaar Card

  • Voter's ID Card

  • Passport

  • Driving License

• For address proof:

  • Voter's ID Card

  • Aadhaar Card

  • Driving License

  • Passport

• Bank statement for the last six months.

• Latest ITR along with balance sheet, computation of income, and profit & loss account for the last two years, which has been CA certified/audited.

• Form 60 for the Applicant/Co-applicant/Guarantor.

• Proof of continuation (ITR/Establishment/Trade license/Sales Tax Certificate)

• Other documents. 

  • Sole Proprietorship Declaration or certified copy of partnership deed.

  • Board resolution (Original)

  • A certified true copy of Memorandum and Articles of Association (certified by the Director).

How to Apply for a Citibank Business Loan

Applying for a Citibank Business Loan is quite simple. Here are the different methods to apply for CitiBusiness Loans.

Apply for Citibank Business Loan Online

• Visit the Citibank Business Loans online application page.

• Enter your details, such as your name, mobile number, city, email ID, etc. and click on ‘Submit.’

• A Citibank relationship manager will get in touch with you and guide you through the process.

Apply for Citibank Business Loan Through a Branch

• Visit the nearest Citibank branch.

• Request for the Business Loan application form.

• Fill in the form and submit the form along with the required documents.

• Your documents will then be verified by the bank.

• After the verification is done, your application will be processed and either approved or rejected.

Interest Rates of Top Banks Offering Business Loans

Bank	Interest Rate	Processing Fee
SBI	11.20% - 16.30%	2% to 3%
Axis Bank	15.50% - 24%	Up to 2%
HDFC	15.65% - 21.20%	Up to 2.5%
ICICI	12.90% - 16.65%	Up to 2%
Citibank	16% - 18.99%	Up to 2%
Yes Bank	16.25% - 19.99%	Up to 2%
PNB	12.65% - 16.65%	Up to 1.8%
IDBI	13%	1%
Kotak Bank	16% - 19.99%	Up to 2%
IndusInd	14%	Up to 2.5%
Andhra Bank	9.15% - 16%	1% to 3%
RBL	20% onwards	Up to 3%
Canara Bank	10.50% - 18%	Up to 1%
Bank of Baroda	14.10%	Up to 1%

FAQs

What is the processing fee for CitiBusiness Loans?

The processing fee for a CitiBusiness loan is up to 2% of the loan amount.

How can I repay my Citibank Business Loan?

You can repay the loan through EMI, ECS, and auto-debit of EMI from your Citibank account.

What is the security I need to give to avail Citibank Business Loan?

The security must be provided based on the type of loan you are willing to take.

What is the interest rate for Citibank Business Loans?

The interest rate ranges between 16%-18.99%, and is determined based on your business profile, track record, financial assessment, tenure, and loan amount.

What is the pre-closure charge for Citibank Business Loans?

The pre-closure charge is up to 2% of the outstanding loan amount.