Citibank Home Loan
Interest Rate
8.60% - 9.80%
Processing Fee
5000 Max
Loan amount
500000 - 100000000
Tenure
Avail finance for purchase of under construction property or built property.

Avail loan amount up to 80% of the property value, subject to minimum Rs. 5 Lacs to maximum up to Rs.10 Crores.

Get loan disbursed directly into your bank account in 48 hours.

Enjoy flexible repayment period of maximum up to 25 years.

Enjoy the flexibility to pay interest only during construction period.

Enjoy interest rate of 8.50% per annum with semi-fixed interest rate plan.

Enjoy unique credit option which lets you decide what interest you pay on your loan, Home Credit Vanilla and Home Credit Fast Track. The first one gives you the option to maintain the liquidity, while the second one lets you repay the home loan faster.

Pre-Closure fee will be calculated on total principal outstanding at the time of calculating the amount for full and final settlement of account.

Citibank Home Loan

Citibank can be the best choice for you as Citibank provides you home loan of minimum Rs 5 lakhs to maximum of Rs. 10 crores at an annual interest rate ranging from 8.60%per annum to 9.80% per annum. The tenure to repay the loan amount ranges from 5 years to 25 years. The processing fee charged by Citibank is upto Rs. 5,000.


Citibank is a good fit for you if?

If You're a Salaried NRI – Citibank has a special feature for the salaried NRIs. Which is that, If you are a salaried NRI then Citibank offers you home loan of maximum amount of Rs. 5 crores, which many of the banks don't give.

Citibank Home Loan at a glance

Annual Interest Rate

8.60% - 9.80%

Loan Term

5 Years - 25 Years

Loan Amount

Rs. 5 Lacs - Rs. 10 Crores

Time of Funding

Within 7 working days

Pre-Payment Charges

Zero to 2% of the outstanding amount

Citibank provides you home loan of minimum Rs 5 lakhs to maximum of Rs. 10 crores at an annual interest rate ranging from 8.60%per annum to 9.80% per annum. Citibank offers you tenure to repay the loan amount from 5 years to 25 years. Citibank takes pre payment charges zero to 2% of the outstanding amount.

Why Choose Citibank?

Home Credit Vanilla Facility – Home Credit Vanilla facility comes with a current account with predefined overdraft limit linked to your home loan account, where you will deposit your monthly repayments and any additional amount. The savings above the predefined overdraft limit gets transferred on a daily basis to the loan account and saves you from paying interest on the paid amount. The maximum savings can be equal to your outstanding loan amount. You can also withdraw the amount above the overdraft limit by yourself anytime. This is Best suitable for Self-Employed applicants who have additional funds available from time to time.

Home Credit Fast Track Facility – It comes with a current account with predefined overdraft limit linked to your home loan account, where you will deposit your monthly repayments and any additional amount. The savings above the overdraft limit will be transferred on a daily basis to your home loan account permanently unlike Home Credit Vanilla and helps you pay your loan faster. It is Best suitable for salaried applicants who wants to use their additional monthly savings to repay the loan faster.

Interest Only Repayment Facility – Citibank offers you the facility to pay only the interest rate till the time construction of your house is completed, which results in less EMI amount in the starting period only in the case of home loan for construction of the house. You will have to start repaying the principal outstanding amount once the construction is completed.

Interest Rate Calculation on Daily Reducing Balance – The Interest rate charged by Citibank is calculated on daily reducing balance, resulting in less interest rate for the same period as compared to interest rate on monthly reducing balance.

Guarantor isn't Mandatory – Citibank can be a good fit for you since you don't need to go for the hustle to find a suitable guarantor for your home loan and simply apply for the loan from your home.

In-Principal Approval – You can get approval for the eligible loan amount even before finalising the property and can get the funds whenever the property is finalized. Only a few banks gives this facility.

Top-up Loan after first 6 EMIs – Citibank offers you the facility of top up loan after 6 EMIs. In this you can avail additional funds after the first 6 months/EMIs on your existing home loan.

Part-Payment Facility – Citibank offers part-payment facility on home loans unlike many of it's competing Banks/FIs such as City Union Bank.

Semi-Fixed Interest Rate Plan – Citibank charges you Interest rate starting from 8.60% per annum with semi-fixed interest rate plan for home loans and 9% for home loans top-up, where interest rate gets switched to fixed rate after a period.

What to watch out for?

Available at Selected Location – Citibank offers home loans within very less number of locations like Delhi-NCR, Mumbai, Pune, Bangalore, Chennai, Hyderabad, Jaipur, Coimbatore, Ahmedabad and Chandigarh.

Excess Amount Limit in Home Credit Current Account – Only amount in addition to Rs. 1 Lac the home credit account will be transferred to your home loan account. Means you must have at least Rs. 1 Lac in the home credit account at a given time to start saving against the home loan interest rate.

No Fixed Rate Loans – In case you want to borrow home loan at Fixed Rate of Interest, then you can't do so if you're applying for home loan at Citibank since they doesn't offer Fixed Rate Home Loans.

NRI Loans to Salaried Applicants Only – Citibank Offers NRI Home loan to only salaried applicants who are living at these countries like Bahrain, United Arab Emirates, or Singapore. Other than these countries NRIs who aren't staying in these locations are not given home loans.

Compare Citibank Home Loans to Other Banks

Bank Name Citibank Tata Capital Axis Bank

Typical APR

8.60% - 9.80%

8.35% - 915%

8.50% - 12.50%

Loan Term

5 Years - 25 Years

1 Year - 30 Years

1 Year - 30 Years

Maximum Lending Amount

Rs. 10 Crores

Rs. 10 Crores

Rs. 15 Crores

Processing Fee

Up to Rs. 5,000

0.50% of the loan amount

Up to 1% of the loan amount

Min Rs. 10,000

Time to Funding

Within 7 working days

Within 5 working days

Within 7 working days

Pre-Closure

Zero to 2% of the outstanding amount

Zero to 2% of the outstanding amount

Zero to 2% of the outstanding amount

If we compare Citibank with other banks then the typical APR of Citibank ranges from 8.60% to 9.80% per annum while Tata Capital gives typical APR of 8.35% to 915% per annum and Axis Bank gives typical APR of 8.50% to 12.50% per annum. Citibank provides you the maximum loan amount of Rs. 10 crores and Tata Capital bank also gives the maximum loan amount of Rs. 10 crores while Axis Bank provides Rs. 15 crores of the maximum loan amount. Citibank offers you tenure to repay the loan amount from 5 years to 25 years, Tata capital offers tenure of 1 year to 30 years and Axis Bank tenure for the repayment of loan is from 1 year to 30 years. The processing fee charged by Citibank is upto Rs. 5,000 while Tata Capital charges 0.50% of the loan amount as processing fee and Axis Bank charges up to 1% of the loan amount and minimum of Rs. 10,000. Citibank pre closure charges are zero to 2% of the outstanding amount, Tata Capital also takes zero to 2% of the outstanding amount as pre closure charges and Axis bank also takes zero to 2% of the outstanding amount as pre closure charges.

Am I Eligible?

  • Minimum age should be at least 23 years at the time of loan application.
  • Must have work experience of minimum 2 years.
  • NRI Applicant must be a salaried resident of any of the following country – Bahrain, United Arab Emirates, and Singapore.
  • NRI Applicant should not be more than 65 years old at the time of loan maturity.

Loan Offerings

Citibank Home Loan

  • Citibank Home Loan provides home loan for purchasing under construction property and ready property. Citibank Home Loan lends you loan amount of minimum Rs. 5 Lacs to as high as Rs. 10 Crores, subject to maximum 80% value of the property. Citibank Home Loan offers you tenure ranging from 5 years to upto 25 years. Citibank Home Loan charges you Interest rate equal to 8.90% to 9.40% per annum for Salaried applicant and 9% to 9.65% per annum for Self-Employed.Interest rate starting from 8.60% per annum is charged in case of semi-fixed interest rate plan.Citibank Home Loan provides you facility to customise your home loan EMI with Home Credit Advantage features of Home Credit Vanilla and Home Credit Fast Track.

Citibank Home Loan Balance Transfer with Top Up

  • In Citibank Home Loan Balance Transfer with Top Up you can transfer your existing home loan as well as avail additional funds. Also you can transfer home loans of up to Rs. 5 Crores, subject to maximum 80% of the property value including both balance transfer and additional funds. Citibank Home Loan Balance Transfer with Top Up provides you additional funds up to Rs. 3 crores at an interest rate ranging from 9.30% per annum to 9.80% per annum. Citibank offers you tenure of as long as to 20 years.

Citibank Home Loan Top Up

  • Citibank Home Loan Top Up provides you additional funds of up to 100% of your existing home loan subject to maximum Rs. 5 Crores. Citibank Home Loan Top Up charges you interest rate ranging from 9.30% per annum to 9.80% per annum and in case of semi-fixed interest rate plan Interest rate starts from 9% per annum.

Citibank NRI Home Loan

  • Citibank NRI Home Loan provides you funds for Purchasing a ready to occupy apartment or house and Purchasing an under-construction property by an approved developer. Citibank NRI Home Loan lends you funds funds from Rs. 20 Lacs to up to Rs. 5 Crores, subject to up to 80% cost of the property value for home loans of up to Rs. 75 Lacs and up to 75% cost of the property value for loans above Rs. 80 Lacs. Repayment has to be from a Citibank NRO/NRE account in Citibank NRI Home loan.
  • Documents required for NRIs:
    • Recent Color Passport Size photograph
    • Photocopy of passport
    • Photocopy of valid Permanent Resident Card, or valid Visa (if Indian passport) , valid Work Permit
    • Photocopy of proof of address (most recent bank statement or Utility Bill)
    • Postpaid Bill in case landline not available
    • Photocopy of your PAN Card
    • KYC of local co-applicant in India who is living at a mortgage location
    • Latest Salary Slip for last 3 months, with corresponding bank credits established through bank statements.
    • Last 2 years B4/P60/IR8/Work Contract or Employment Contract/ Certificate for last 2 years
    • Last 3 months bank statement showing salary credits each month
    • Bank statement / loan statement confirming EMIs running (both for loans in India / abroad) for loan eligibility calculation purposes ( in addition to salary a/c statement if other loans are running)
  • Documents required for property:
    • Copy of latest Sale Deed with previous chain link Allotment Letter, Payment Plan and Receipts in case of properties that are under construction
    • Agreement of Sale, Chain link title papers, Sanction Plans, Tax Paid receipts, etc. in case the property is ready.

Citibank Home Loan Rate of Interest

Home Loan Type Applicable Interest Rate

Citibank Home Loan

8.90% - 9.65% per annum (Floating)

Citibank Home Loan Balance Transfer

8.90% - 9.65% per annum (Floating)

Citibank Home Loan Balance Transfer with Top Up / Home Loan Top Up

9.30% - 9.80% per annum (Floating)

Citibank Home Loan Top Up

9.30% - 9.80% per annum (Floating)

Citibank NRI Home Loan

8.90% - 9.65% per annum (Floating)

The applicable interest rate charged by Axis Bank on Car Loans is 9.25 per annum to 11.50% per annum and the interest on Axis Bank car loan balance transfer or top up is 14.50% per annum.

How to Apply for Citibank Home Loan?

    • At Paisa
      • Check the loan offer which is best for you and click on apply now
      • Fill the required details
      • Choose the loan you want to take
      • Submit the details
    • At Citibank
      • Visit the nearest branch of the bank along with the loan application form. Click here to download application form to apply at Citibank.
      • Fill up the mandatory details.
      • Submit your details.

After I Apply?

Check Home Loan Status

  • Through Citibank Status Tracking Page
    • Click here to check your application status online.
    • Sign in with your user id and password.
    • After you sign in then go to the loan status tab and click update status
    • Put the required details
    • Submit your details.
  • Through Customer Care
    • Call on 1860-210-2484 and wait for the IVR instructions.
    • Then if you want to proceed in english press 1 if in hindi press 2
    • Rgen they will ask you if you want information on home loan then you need to press *2
    • After this they will ask you if personal loan press 1 , if home loan press 2
    • After this your call will be transferred to the customer care executive.

Fees & Penalties

Type of Charge Applicable Charges

Processing Charges

Up to Rs. 5,000

Foreclosure Charges

Nil

For Floating Rate Loans as well as if the prepayment of semi-fixed rate (during fixed interest rate period) loan is less than 25% of the loan amount subject to once in a financial year.

2% of the outstanding amount

On all the part-payment amount made within last 12 months period from the date of loan closure as well as undisbursed portion of the loan amount.

Part-Payment Charges

Nil

For Floating Rate Loans as well as if the prepayment of semi-fixed rate (during fixed interest rate period) loan is less than 25% of the loan amount subject to once in a financial year.

2%

Where loan is semi-fixed (during fixed interest rate period) and part-payment is more than 25% of the loan amount

Penal Charges

2% per month on the overdue amount

EMI Bounce Charges

Rs. 500 per instance

Loan Booking Charges

At the time of loan documentation

Up to 0.40% of the loan amount

For Balance Transfer and Top Ups

Up to 0.75% of the loan amount

For Balance Transfer and Top Ups

The processing fee charged by Citibank is upto Rs. 5,000. Citibank takes nil foreclosure charges for floating rate loans. As well as if the payment of semi-fixed rate, during fixed interest rate period the loan is less than 25% of the loan amount subject to once in financial year. Citibank takes 2% of the outstanding amount as foreclosure charges on all the part payment amount made within last 12 months period from the date of loan closure as well as undisbursed portion of the loan amount. Citibank takes nil part payment charges for Floating Rate Loans as well as if the prepayment of semi-fixed rate (during fixed interest rate period) loan is less than 25% of the loan amount subject to once in a financial year. Citibank takes penal charges of 2% per month on the overdue amount. EMI bounce charges are also taken of Rs. 500 per instance. At the time of loan documentation citibank also takes loan booking charges for up to to 0.40% of the loan amount for balance transfers and top up. And Up to 0.75% of the loan amount for balance transfers and top up.

FAQs

Citibank Customer Support?

You can call on 1860-210-2484 for India or +91-22-4955-2484 for overseas (Operational between 9 AM – 7 PM (Monday – Saturday) except on national holidays) or can write us at

Postal Address: Citibank N.A.,Mail Room, ACROPOLIS,9th Floor,New Door No.148 (Old No.68),Dr. Radhakrishnan Salai,Mylapore,Chennai – 600 004.

What are the projects approved by Citibank?

Click here to see the list of approved projects by Citibank.

MCLR linked to Home Loan?

3 months MCLR equal to 8.10%

Loan Repayment?

You can repay your loan through Standing Instruction on Citibank Account and through NACH.

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