Citibank Business Loan

 

About Citibank Business Loans

The only foreign bank in India which is running full service onshore platform in the country, Citibank India has its headquarters in Mumbai, India. It is a subsidiary of Citigroup, which is a multinational financial services corporation based out of New York, US. The Indian arm is involved in risk management solutions, credit cards, retail banking, investment banking, capital markets, transaction and advisory services. Citibank India has a rich history dating back to more than 100 years. It was established in 1902 in Calcutta (now Kolkata). Bringing early innovations like credit cards, Internet banking, ATMs, instant SMS alerts, 24 x 7 phone banking etc. to India, Citibank is backed by a network that spans across 98 markets in the world.

Citibank India offers business loans to self-employed professionals and self-employed businesspersons to help them meet working capital requirements of their businesses or for funding their business expansions. The company offers a wide range of loans to businesses, including overdrafts, short-term demand loans, trade finance, secured term loans and drop line overdrafts. Below we have provided all the important details related to Citibank business loan eligibility criteria, features and charges.

Business Loan Eligibility Criteria

To be eligible for Citibank business loan, you should be a self-employed professional or a business person between 25 to 65 years in age. You will need to furnish the required documents to prove your creditworthiness and capacity to repay the business loan. More specific details related to Citibank business loan eligibility criteria such as the annual turnover, tenure in business, credit score required etc. are provided below.

3

Years in currert business

₹ 50Lacs

Minimum Turnover

Citibank Business Loan Features / Details

Citibank business loan is one of the most sought after loan products amongst business establishments as it provides a wide range of financing options to its clients. You can opt for overdrafts which are best for managing day-to-day cash flows, with interest charged only on the used amount. Trade financing is available for both import and export finance, at LIBOR denominated interest rates to keep you competitive at the global level. You can even opt for short-term demand loans of up to 6 months’ tenure, at attractive interest rates, in both foreign and Indian currency denominated rates. Secured term loans are available against Stock & Book debts or property. Then there are dropline overdrafts which are a unique combination of overdrafts and a term loan. More specific details related to Citibank business loan features are provided below.

17.99%

Interest Rate (Min)

1 – 5 Years.

Loan Tenure

₹ 5Lacs – 15Lacs

Loan Amount (Min – Max)

Citibank Business Loan Fees / Charges

Citibank charges a processing fee of up to 2% of the sanctioned loan amount, deducted at the time of loan disbursal or loan documentation. A pre-closure charge of up to 2% of the principal outstanding is levied in case you choose to pre-close the loan. Other than that several other charges like renewal fees, penal interest rate, insurance charges, charges for non-submission of stock statements etc. might come into application depending on the situation and your requirements. You can find specific details related to all such Citibank business loan charges below.

2.00% of Loan Amount.

Processing Fees

0% of amount prepaid.

Pre-payment Charges

No

Part Payment Facility

0%

Part Payment Processing Fees