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Frequently Asked Questions
Salary Accounts
What will happen to my Citi Asset Backed Finance / Commercial Vehicle and Construction Equipment Loan Account?
This is further to the acquisition of Citi’s consumer banking business in India by Axis Bank, on March 1, 2023. Effective March 11, 2024, your loan/s have been fully migrated to Axis Bank systems.
Will I get my TDS certificate before the completion of migration? How will I receive it?
Yes, you will receive the TDS Certificate for the period from 1stMarch ’23 till the migration date on your registered email ID. In case you need a duplicate certificate, reach out to our phone banking team or simply walk-in to any of our branches. Post the transition, you can view these certificates through Internet Banking as well using the following path.
Will there be any change in the tenure or repayment schedule of my Loan?
There will be no change to the tenure or repayment schedule of your loan and will remain as per the agreement entered into with Citi.
Will my loan account number change?
Yes, your customer ID (CIF) and loan account number(s) will be communicated by SMS / email post the migration.
What will be the new ROI structure?
There will be no change in ROI for all existing and active loans availed before March 1, 2023 which have been transferred from Citi to Axis Bank, on account of this migration.
How can I access my Statement of Account (SOA) and Repayment Schedule?
You can visit the nearest Axis Bank Loan Centre (you can find the list of our Loan Centres here https://www.axisbank.com/Loancenter). You may also contact our Phone Banking on 1860-419-5555 / 1860-500-5555 (charges apply) or 18001035577 (toll-free).
Will there be any change in the loan account number?
Yes, new Axis Bank Personal Loan account number and Customer ID (CIF) will be communicated via email / letter post the migration.
Will there be any changes in service charges for the existing loan accounts post customer migration?
There will be no change to the charges applicable to your loan on account of the migration. It will remain as per the agreement entered with Citi. We will keep you updated, should there be any changes.
Do I need to give fresh mandate for SI (Standing Instruction) / NACH (National Automated Clearing House) for payment of loan EMIs?
Any existing mandates will be automatically migrated to the new loan account. However, if you are making payments through NEFT from any other bank account, please update the payee details with your new loan account number and new Axis Bank IFSC - UTIB0000245.
How can I access my previous and current month Statement of Account (SOA)?
You can log into Internet Banking or the Mobile Banking App, open to view the Statement of Account, or contact our Phone Banking team on 18604195555 / 18605005555 (charges applicable) or 18001035577 (toll-free) to place a request for SOA.
Do we need to change the payee details if I have already added the Personal Loan account number for NEFT payment in another bank account?
Yes, the payee details need to be changed. Please delete the old payee and create a new one with the new loan account number and new Axis Bank IFSC – UTIB0000245
Will there be any changes in the policy on fresh loans or top-up loans?
As a customer, you can avail fresh loans or top-up as per your eligibility. Axis Bank policies will be applicable for all new loans post the migration. You can apply through Internet banking or the Mobile Banking App, open. Alternatively, you can visit here to apply for a loan.
Will there be any change in the account number of my Citibank Ready Credit account?
Your new 24x7 FlexiCredit account number will be communicated to you upon migration.
Will there be any change in dues or due date for my Ready Credit account?
Yes, please note that there will be no auto recovery of principal minimum due from the linked Savings Account post migration. Please make NEFT / IMPS / RTGS payments directly into 24X7 FlexiCredit Account as per your comfort. Make sure to use your new account number and new Axis Bank IFSC – UTIB0000004.
However, interest will continue to be auto recovered on the 1st of the month from the linked Savings Account like before.
How can I close the 24x7 FlexiCredit facility? What are the charges that would be applicable?
No charges are applicable for closure of 24x7 FlexiCredit Account. Repayment can be done through your Axis Bank linked Savings Account.
For standalone / delinked FlexiCredit Accounts, you can make NEFT/IMPS/RTGS payment from any bank account directly to your 24x7 FlexiCredit Account.
Are there any changes in Terms and Conditions for Citibank Ready Credit Account?
Post the migration, 24x7 FlexiCredit terms and conditions and schedule of charges (SOC) will be applicable post renewal of overdraft facility.
Additionally, please note that post effective account migration date, Axis Bank will withdraw / terminate the overdraft facility in the events of default laid down in the terms and conditions. No revised repayment plan will be offered in such scenarios.
You can view the details here.
How can I close the overdraft facility?
Please visit the nearest Axis Bank Loan Centre to place a request for closure of 24x7 FlexiCredit overdraft facility and carry your ID proof as per the existing KYC norms. Kindly ensure to maintain credit balance while placing the request.
How can I request for my current or past Statement of Account (SOA)?
You can easily download the statement through Axis Bank Internet Banking or our Mobile Banking App, open. Alternatively, you can place a request by calling our Phone Banking team or visiting the nearest Axis Bank Loan Centre.
Will I be able to access my Citibank Ready Credit account on the Axis Bank Mobile App, open?
Yes, post the migration to Axis Bank, you can access your 24X7 FlexiCredit account / statement via Axis Bank Mobile Banking App, open.
What will happen if my Citibank Ready Credit account is under Work Out Plan (WOP) or Revised Repayment Plan (RRP)?
Your existing WOP or RRP will continue as is, post migration to Axis Bank. Please make self-payment to your 24x7 FlexiCredit account as per the due amount / WOP installment that will be generated on 1st of every month to avoid bureau impact. There will be no auto recovery of principal due amount created in WOP / RRP cases.
Only the interest amount will be auto debited from the linked Savings Account on the 1st of every month.
Moreover, new WOP or RRP will not be offered in case of non-payment of interest dues or breach of any terms and conditions. Post effective account migration date, Axis Bank will withdraw/terminate the overdraft facility in the event of default laid down in the tTerms and Cconditions. Please refer to the detailed terms and conditions and schedule of charges here.
Are there any changes in Terms and Conditions of Loan Against Property or Home Loan?
There have been no changes in Terms and Conditions owing to the migration. In case there is any change, we will ensure to keep you informed well in advance.
Will there be any changes in the loan account number post migration?
Yes, you will be assigned a new number and details of the new loan account number will be sent to the customers via SMS / email / letter post migration.
Will there be any change in the benchmark rate for my loan after migration to Axis Bank?
If your loan is benchmarked against the Citibank Mortgage Prime Lending Rate (CMPR), Base Rate or Marginal Cost Lending Rate (MCLR), it will not undergo any change. However, if your Citi Mortgage loan was linked to Treasury Bill Linked Rate (TBLR), the same has been moved to Repo Rate published by Reserve Bank of India (RBI). The interest rate on your loan will remain the same and the spread between the interest rate and benchmark / reference rate has been suitably adjusted. If you wish to discontinue with the Repo Rate linked loan, you can close or transfer your loan to other lenders without any prepayment penalty.
Will there be any change to the Schedule of Charges (SOC) for existing Mortgage Loans post-migration?
There will be no change in SOC for existing loan accounts post migration. You will be informed of any changes with prior notice.
How can I make missed repayments towards my Home Loan?
To make the payment towards EMI, please visit Overdue Loan Payments - Axis Bank.
How can I access my existing loan-related documents (Statement of Account, Repayment Schedule, Principal and Interest Certificate)?
You can log into Internet Banking or the Mobile Banking App, open to view the Statement of Account, Repayment Schedule, Principal & Interest Certificate. You can also visit the nearest Axis Bank Loan Centre (you can find the list of our Loan Centres here or contact Phone Banking numbers on 18604195555 / 18605005555 (charges apply) or 18001035577 (toll-free), to place a request for loan related documents.
What happens to the original security documents / title documents that I have submitted?
The responsibility of safe keeping of the document rests with Axis Bank. All the documents you have submitted will continue to be stored safely.
Are there any changes in Terms and Conditions of Loan Against Property or Home Loan?
There have been no changes in Terms and Conditions owing to the migration. In case there is any change, we will ensure to keep you informed well in advance.
Will there be any changes in the loan account number post migration?
Yes, you will be assigned a new number and details of the new loan account number will be sent to the customers via SMS / email / letter post migration.
Will there be any change in the interest rate on my mortgage loan?
There will be no change in the interest rate of your loan owing to the migration. If the interest rate on your loan is variable, it will continue to adjust according to the changes announced in the benchmark rate to which it is linked, in accordance with the repricing reset cycle applicable on the loan. You will be informed of any changes with prior notice.
Will there be any change in the benchmark rate for my loan after migration to Axis Bank?
If your loan is benchmarked against the Citibank Mortgage Prime Lending Rate (CMPR), Base Rate or Marginal Cost Lending Rate (MCLR), it will not undergo any change. However, if your Citi Mortgage loan was linked to Treasury Bill Linked Rate (TBLR), the same has been moved to Repo Rate published by Reserve Bank of India (RBI). The interest rate on your loan will remain the same and the spread between the interest rate and benchmark / reference rate has been suitably adjusted. If you wish to discontinue with the Repo Rate linked loan, you can close or transfer your loan to other lenders without any prepayment penalty.
Will there be any change to the Schedule of Charges (SOC) for existing Mortgage Loans post-migration?
There will be no change in SOC for existing loan accounts post migration. You will be informed of any changes with prior notice
How can I make missed repayments towards my Home Loan?
To make the payment towards EMI, please visit Overdue Loan Payments - Axis Bank
How can I access my existing loan-related documents (Statement of Account, Repayment Schedule, Principal and Interest Certificate)?
You can visit the nearest Axis Bank Loan Centre or contact our Phone Banking numbers on 18604195555 / 18605005555 (charges apply) or 18001035577 (toll-free), to place a request for loan related documents.
I have a Home Credit Fast Track Account, will I be able to opt for the same facility in Axis Bank?
Yes, you would be able to enjoy the same product with Axis Bank as well.
I have a Home Credit (Vanilla) Account, will I be able to opt for the same facility in Axis Bank?
No, your account will be converted to Home Credit Fast Track variant where the interest savings will be adjusted towards the loan outstanding post conversion.
If I don’t want to covert my Home Credit Vanilla Account to Home Credit Fast Track Account, what is the option available to me?
You have the option to close or transfer your loan to other lenders without any prepayment penalty. Please visit Axis Bank Loan Centre to place a request for the same.
My Loan EMI is automatically paid from my Citi account monthly as a NACH mandate. Do I have to make any changes to this?
To make this transition a smooth one for you, we are working closely with NPCI to have the NACH mandates raised in your Citi account (e.g., mutual fund purchases as Systematic Investment Plans (SIP), insurance premium debits, loan repayments etc.) to be centrally updated with the new Axis Bank IFSC. This change would also require support from the sponsor bank, and we will individually reach out to you, well in advance, in case any action is needed from you.
I have a Citi loan and have a repayment mandate for monthly EMI debits on my other bank account. Do I have to change that with my other bank?
No, you don’t need to make the changes with your other bank in this scenario. We will centrally work with NPCI to have this mandate updated to the new IFSC.
What happens to the Citi cheque book, and any post-dated cheques issued already by me?
Your new Axis Bank cheque book with the new IFSC was delivered to you by end of April 2024. Please cancel all post-dated cheques given by you to vendors, financial institutions, property owners, etc. and replace with the new Axis Bank cheques. In case you need additional cheque leaves, please log on to your Citibank online banking or mobile banking application and place the request.
Further, we will be able to clear Citi cheques till July 5th 2024, post which Citi cheques will be returned as Citi IFSC will cease to exist.
Can I continue using Citi Mobile App® and Citibank Online for my digital banking transactions post the migration?
Citi Mobile App® and Citibank Online will be discontinued post the migration. From the date of migration, you can use Axis Bank Internet Banking and Mobile Banking App, open, for all your digital banking needs.
How do I log into Axis Bank Internet Banking and Mobile Banking App, open?
Please follow the below steps to register on Axis Bank Mobile app, open: (Starting 15th July 2024)
• Download open from Play store / App store.
• Open the app and click on “Login to your Axis account”.
• Allow access to the asked permissions for seamless experience.
• Verify your mobile number using SMS.
• Complete the registration via methods like OTP authentication, Citi-branded Debit Card /Credit Card/ Forex Card or loan details.
• Enter a nickname for your account.
• Create MPIN and enable biometrics to secure the application.
Here are the steps to register on Axis Bank Internet Banking: (Starting 15th July 2024)
• Visit Axis Bank Internet Banking Here
•Click on ‘Login’ on First Time Login for Former Citibank Customer section.
• Complete the registration via methods like Axis Bank Customer ID, Citi-branded Debit Card or Credit Card details.
• Set your password, security questions and login ID.
• Use your Login ID and password to log in to Axis Bank Internet Banking
What is the Customer ID on the Axis Bank Internet Banking login page?
Axis Bank Customer ID is a unique 9-digit numeric ID. When logging in to Axis Bank Internet Banking and Mobile Banking App, open, you will have to register yourself. To retrieve the Customer ID, please select the OTP process. Click on ‘Get Customer ID’ and enter registered mobile number and PAN details. You will receive an OTP for confirmation and after confirmation, you will receive the Customer ID.
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Contact Now
- Call us at 1860-419-5555 or 1860-500-5555 (local charges applicable) / 18001035577 (Toll Free)
- Chat online at www.axisbank.com/support
- Visit our Loan Centres, Click here
Citi India consumer banking customers are now served by Axis Bank.
Citi India has transferred ownership of its consumer banking business to Axis Bank (registration number L65110GJ1993PLC020769) with effect from 1st Mar 2023.
Consumer banking customers can continue to use all existing Citi products and/or services, branches, ATMs, internet banking and Citi Mobile®App as usual. Axis Bank is the provider of Citi branded consumer banking products in India temporarily and Citi India is providing certain services in respect of those products.
The trademarks “Citi”, “Citibank”, “Citigroup”, the Arc design and all similar trademarks and derivations thereof are used temporarily under license by Axis Bank from Citigroup Inc. and related group entities.
