Citibank Credit Card Loan

What is a Citibank Credit Card Loan in the UAE? 

A Citibank credit card loan is a pre-approved loan against your card’s limit. This feature lets you secure funds in an instant. Depending on your limit, you can borrow money and use it for major purchases, travel, financial emergencies, and more. 

It’s worth noting that the bank offers CC loans across a range of options, including instant cash loans, easy instalment plans, balance transfer, and much more. With these, you can borrow and repay it at low interest rates and flexible terms. 

Types of Citi Credit Card Loans

Let’s understand the main types of Citi card loans to help you make an informed decision as per your specific requirements — 

Instant Cash Loan 

You can secure this loan with the ‘Citi Ready Credit Card.’ For new customers, the bank offers a low interest rate starting from 15% (p.a.) in the first month after the card is approved. This loan is quite useful as you can utilise 100% cash limit of the card and get instant cash into your bank account. It also gives you flexibility to repay the borrowed money without any additional charges. 

Instalment Loan on Card within Credit Limit

This option gives you the convenience of making transactions — paying rent, school fees, buying expensive items, and more — without worrying about cash. Without any documentation or processing fees, you can easily convert the large expense into easy instalments. 

With this type of Citi credit card loan, you can easily make spends and make repayments in up to 48 months. 

Instalment Loan on Card Beyond Credit Limit

Despite our best preparations, there might be times when we need additional funds beyond the credit limit. In such cases, if you're eligible, you can use this facility and get a cash transfer. This amount, ranging between AED 2,000 and AED 36,500, is in addition to your credit limit and directly transferred into your bank account. Furthermore, this loan offers flexible repayment terms ranging from 6 to 48 months. 

Note that the eligibility is determined by Citibank through an assessment of your credit history and repayment patterns. Also, keep in mind that you’ll find the loan in your monthly statement as well as the minimum amount due.

Easy Instalment Plan

Among the most popular Citi credit card loan types is the Easy Instalment Plan. This feature lets you convert big purchases — above AED 100 — into convenient and manageable instalment plans. 

This facility, accessible through partnered merchants, covers a range of items — electronics, jewellery, household appliances, and much more. Furthermore, it offers flexible repayment periods of up to 48 months and also brings reward points on successful instalment payments.

Balance Transfer with Instalments 

This facility on Citi CC allows you to transfer outstanding balances to your beneficiary credit card account. You can choose the transfer amount (up to your credit limit) and a repayment period of 6 to 48 months. 

Here, it’s important to note that the transferred amount is sent directly to your other card and blocked from your Citi credit limit. It then keeps getting released as you keep repaying the amount monthly. 

Balance Transfer on Card 

This Citibank credit card loan allows you to transfer an outstanding balance from another card to your Citi credit card. With no fixed instalments or early settlement fees, you can repay the minimum due at a low interest rate. 

Once you pay monthly, you'll see a part of your balance transfer amount and interest added to your Citi CC bill. Just keep in mind that if you don’t pay the minimum due amount on time, you may face applicable charges. 

How to Repay Citibank Credit Card Loan? 

Let’s turn our attention to settling the CC loans that we saw above. Here are the different methods to repay your Citi card loan in the UAE —

Online Transfers

Paying your Citi credit card bill online is quick and hassle-free through online banking. This can be done through a Citi account or another bank’s account. 

Through a Citibank Account 

• Log into your account on the Citibank website or mobile app
• Choose the card for which you want to settle the bill
• Select the bank account you'd like to make the payment from
• Enter the payment amount and date, add a purpose (if needed), and click ‘Next’
• Review all the details carefully, then complete the payment

Through Another Bank Account 

• Log into your digital account on the official website of your bank 
• Go to the ‘Payments and Transfers’ section and choose ‘Other UAE Credit Card’ 
• Enter personal details such as your name, contact number, and email address
• Provide your Citi CC number.
• Set Citibank as the issuing bank, with the address Oud Metha, Dubai 
• Enter the payable amount and the purpose of the transfer
• Review the details and complete the transaction

Direct Debit 

The direct debit method allows you to automatically pay your dues from a registered bank account. You can avoid late payment fees and build a good credit Score by making timely payments. 

You can easily set up direct debit through your Citibank account or another bank account. This feature is quite flexible in that you can choose between paying the full outstanding balance or a fixed percentage each month.

Exchange House 

You can pay your Citi credit card loan at an exchange house using the UAE Funds Transfer System (UAEFTS). This is a secure, real-time payment system managed by the Central Bank of the UAE. It facilitates fast transfers between banks and financial institutions. 

Before making a payment, just confirm that the exchange house accepts Citibank payments. Also, remember that some exchange houses may charge a small transaction fee for processing your payment.

Final Wording

Whether it’s school fees, travel plans, or unexpected expenses, Citi Bank credit card loans offer a quick and flexible financial solution. With no paperwork, instant fund transfers, and a variety of repayment options, you can easily borrow funds and manage your money efficiently. 

You can easily apply for the card loan through the bank’s official website and mobile app. 

Citi Credit Card Loan—FAQs