How Do You Qualify for a CitiFinancial Personal Loan?


Quick Answer

CitiFinancial reports that $300 to $10,000 secured or unsecured personal loans are available to applicants and approved based on credit history and ability to repay. Secured loans using a car as collateral allow borrowers to receive lower rates than unsecured loans offer, as claimed by CitiFinancial.

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Full Answer

Borrowers may receive an instant decision by applying through CitiFinancial online, as CitiFinancial reports. Unsecured loans may not be available to all borrowers and are offered based on credit history, as CitiFinancial claims. Loan terms vary from 12 to 60 months with fixed interest rates throughout the term. After applying for a loan, a local CitiFinancial representative contacts applicants with more information about loan terms and how to receive the borrowed funds, as CitiFinancial notes. For some borrowers, funds are available the next day after the application is approved.

CitiFinancial suggests borrowers consider home equity loans also, as these loans usually offer lower rates and higher loan amounts than personal loans. Equity loans offer between $15,000 and $125,000 and longer repayment terms. Personal loans, however, are available to borrowers who do not own a home or wish to avoid home equity loans. CitiFinancial recommends that applicants contact a local representative with loan questions for specific advice.

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