Citibank Business Loan offers you business loans for efficient working capital management. CitiBusiness services provide financing solutions to micro-to-small enterprises. Various MSME Loan Products such as Working Capital Loans, Overdrafts, Short and Long Term Loans, and Import and Export Finance are specially designed to meet all your financing requirements and fuel your business growth.
Citibank is rated the best in this industry if you require a fast-track loan approval or a secured term loan. You need to pay a 2% processing fee pre-closure charges (2%) and renewal fees (2%) associated with the business loan.
Citibank Business Loan Details
| Minimum Loan Amount | ₹ 1,000,000 |
|---|---|
| Maximum Loan Amount | ₹ 15,000,000 |
| Minimum Tenure | 12 months |
| Maximum Tenure | 120 months |
| Interest Rates | 13.49% – 20.75%. |
| Processing Fee | Up to 2% + GST as applicable |
| Foreclosure Charges | Allowed after 12 EMIs plus 4% prepayment |
What are the Features of a Citibank Business Loan?
- The minimum and maximum amounts for a business loan are ₹ 1,000,000 to ₹ 15,000,000.
- Get a loan within 48 hours.
- Requires minimum documentation & has simple free processing.
- The flexible loan tenure is up to 10 years.
- Pre-payment charges are 4%.
- No guarantor is required.
- Conditional pre-closure and part payment options are available after 12 months.
- Doorstep service is offered.
- The top-up loan availability option is made available.
- E-approval and balance transfer are add-ons.
- Comparatively low Business Loan Interest Rates
What are the Documents required for a Citibank Business Loan?
- Application Form: Complete the loan application form with one passport-size photograph
- Valid Proof of Applicant’s Identity: Passport, Photo PAN card, Voter’s identity card, Driving license, and MAPIN card
- Proof of Residence: Ration card Tel/ Lease agreement/ Electricity Bill/ Passport/Trade license /Sales Tax certificate
- Proof of Age: Passport, Photo PAN card, Voter’s identity card
- Financial Documents: Copies of IT returns for the last two years along with the latest Bank statements for 6 months and P & L and balance sheet for the last two years
- Business plan/project report
- Self Employed (Private Ltd. Co. and Partnership Firms): Copies of IT returns for the last two years and P & L and balance sheet for the last two years audited by a chartered accountant
- Self-Employed Individuals: Copies of IT returns for the last two years and Bank statements for the last 6 months – Professionals: P & L and balance sheet for the last two years audited by a chartered accountant
- Self-Employed Individuals – Non-Professionals: P & L and balance sheet for last two years audited by a chartered accountant and Copies of IT returns for the last two years and Bank statements
About Finline!
Finline is an online platform for creating financial reports for getting bank loans and investments. It’s like ‘Canva’ but for financials. If you are an entrepreneur looking for a bank loan, you need to have a well-crafted project report. We, at Finline help you with that. Our team will help you create a powerful business plan in ten minutes. That too in your language. Also, all public and private sector banks working in India accept our project report. Click to create your report.