Citibank offers customers a variety of home loan solutions that are tailor made to meet the requirements of customers from all types of financial backgrounds. Home loans provided by Citibank come with easy repayment facilities, extremely competitive rates of interest, and a number of attractive features and advantages, which can be availed both Indian residents as well as NRIs alike.
|Interest Rate||8.60% to 9.10%|
|Loan Tenure||25 Years|
|Processing Fees||Upto 5000/-|
|Partial pre-payment Charges||Nil|
Home loans offered by Citibank showcase a range of attractive features and benefits
Citibank offers customers home loans at competitive, affordable and attractive rates of interest that are designed to fit into the financial budgets of customers from all types of backgrounds.
The interest rates provided below are applicable to variable rate home loans only
|Home Loan Amount||Type of Applicant||Rate of Interest Per Annum|
|Upto Rs 28 Lakhs||All types||9.30% - 9.80%|
|Greater Than Rs 28 Lakhs||Salaried||9.50% - 10.05%|
|Greater Than Rs 28 Lakhs||Self-Employed||9.75% - 10.25%|
The MCLRs set by Citibank are as follows:
Applicants are required to fulfil the following eligibility criteria in order to apply for a home loan with Citibank:
Customers looking to apply for a home loan with Citibank are required to provide the following documents:
For Salaried Individuals:
For Self-Employed Individuals:
For Partnership Firms:
Citibank also offers its customers a Home Credit Facility, via which borrowers have the freedom to choose the credit option that best suits their needs, and determine the amount of interest they would like to pay. According to the Home Credit loan scheme, a Home Credit Account is set up by the bank, which is then linked to the borrower’s home loan account. Any amount that is found to exceed the threshold limit set by the bank is automatically directed into the home loan account of the borrower. This excess amount will then be used to offset the interest charges on the borrower’s home loan, and can be withdrawn at any time in the form of an overdraft.
Citibank offers customers the following Home Credit Loan choices:
Non Resident Indians can also avail of home loans through Citibank. These loans can be acquired to purchase property in select cities across India.
Features and Benefits of Citibank NRI Home Loans:
Documentation Required To Apply for a Citibank NRI Home Loan:
Applicants can make use of online EMI calculators to ascertain their loan repayments as well as to decide on what loan amounts and tenures match their financial budgets. In order to make an informed decision regarding the acquisition of a home loan, customers can use the EMI calculator provided by BankBazaar by following the steps below:
Depending on the borrower’s income and propensity to make repayments towards the loan, Citibank may allow a borrower to obtain a pre-approval for a home loan. However, the residential property that the borrower has identified for purchase must meet the parameters prescribed by the bank before any pre-approval is authorised.
Applicants can apply for a Citibank home loan either through Citibank’s online portal, the Citibank priority service numbers or by visiting a Citibank branch.
Citibank offers a top-up facility to only those customers who have already acquired a home loan from the bank, and who have been making repayments towards their loan for a period of at least 12 months. However, this is entirely at the discretion of the bank.
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