|Citibank Home Loan 2020|
|Interest Rate||8.29% onwards|
|Loan Amount||Rs. 5 lakh – Rs. 10 crore|
|Loan Tenure||Up to 25 years|
|Processing Charges||Up to 0.40% of the loan amount + GST|
Note: The figures given in the table are indicative and are subject to change as per changes in the Citibank home loan scheme or RBI policy.
Citibank home loan interest rate is 8.29% onwards, which is one of the lowest rates in India. The lending institution offers home loans up to Rs. 10 crore with loan tenure extending up to 25 years. Citibank home loan can be availed for the purchase of under construction property and ready property.
Table of Contents:
- CitiBank Home Loan Features & Benefits
- CitiBank Home Loan Interest Rates
- Processing Fees & Other Charges
- Home Loan EMI Calculator
- Eligibility Criteria
- Documents Required
- How to Apply
- Customer Care
Citibank Home Loan Features & Benefits
- Attractive rate of interest starting at 8.29% p.a.
- Easy home loan of up to Rs. 10 crore
- Flexible loan tenure stretching up to 25 years
- Home loans up to 80% of the property cost
- Flexibility to pay interest only during construction period
- No prepayment penalty for gloating rate home loans
- Pre-approved home loan facility is available
- Get Home Loan Tax Benefits
Citibank Home Loan Interest Rates
Citibank offers TBLR linked home loan interest rates starting from 8.29% p.a. Citibank home loan interest rates are linked to 3-month Government of India Treasury Bill Benchmark Rate. It is an external benchmark linked lending rate. The latest Treasury Bill Benchmark linked Lending Rate (TBLR) is 5.05% effective from January 13, 2019.
|Citibank Home Loan Schemes||TBLR linked Interest Rates (p.a.)|
|Citibank Home Loans||8.29% – 8.85%|
|Home Loans with Home Credit||8.35% – 8.95%|
|Home Loan Takeover with Enhancement||8.50% – 9.10%|
|Home Loan Top-up||8.50% – 9.10%|
Existing Citibank borrowers who availed MCLR linked home loans, the bank’s current 3-month MCLR is 7.85%, effective as of December 7, 2019.
Citibank Processing Fees and Other Charges
|Application Fee||Up to Rs. 5,000|
|Booking Fee||Up to 0.40% of the loan amount sanctioned|
This fee is collected at the time of loan documentation and is non-refundable
|Cheque / NACH / SI Bounce Charges||Rs. 500|
|Re-pricing Fee||No charges|
|Penal Interest||2% over the prevailing interest rate on the outstanding amount of loan for the default period|
|Part Prepayment Charges||Fixed Rate Home Loans – No charges|
Floating Rate Home Loans – No charges
Semi Fixed Rated Home Loans –· For part prepayment less than 25% of the loan amount in a financial year (April 1 to March 31) – No charges· If the loan is closed within 12 months of the part prepayment date – the part prepayment will also be subject to foreclosure charges· During Semi Fixed period, if more than 25% of the loan amount is partly prepaid in a financial year – charges will be levied @ 2% [Check: Prepayment Calculator]
Citibank Home Loan EMI Calculator
Customers intending to apply for home loan must know their home loan EMI beforehand to decide on the amount they can afford to borrow and plan for their finances in advance. Home loan EMI calculator helps customers know their home loan EMI amount conveniently and quickly. The online tool requires only a few details such as loan amount, loan tenure and interest rate to give the results.
Citibank Home Loan Eligibility
Some of the key Citibank home loan eligibility criteria are listed below:
|Nationality||Indian Residents or NRIs|
|Type of Employment||Salaried and Self Employed|
|Age||23 – 60 years|
|Job Stability in case of Salaried (in years)||2 years|
Check Also: Home Loan Eligibility Calculator
Citibank Home Loan Documents Required
List of Common Documents for Citibank Home Loan:
- Duly filled Citibank home loan application form
- 2 Passport Size Photo
- Proof of Identity – Aadhaar Card/Passport/Driving Licence/ Voter ID/PAN Card
- Proof of Age – Birth Certificate/Aadhaar Card/PAN Card/Passport/Driving License
- Proof of Residence – Leave and License/Registered Rent Agreement/Utility Bills/Passport
- Property Documents – Registered sale deed, agreement to sell, encumbrance certificate, approved plans and clearance certificates from authorities, allotment letters and/or by-laws of the co-operative society/association of apartment owners
|Income Proof for Salaried||Income Proof for Self-employed|
|Proof of Income – 2 months’ payslip, ITR or Form 16, 3 months’ bank statement showing salary credit and any EMI debit, work experience proof of 2 years||Proof of Income – ITR, last 2 years’ balance sheet/profit and loss account statement with all schedules attested by Chartered Accountant, 3 months’ bank statement, proof of business continuity for 3 years|
Note: The above list of documents is not exhaustive. Citibank can ask for additional documents for the processing of your home loan application.
Read Also: Home Loan Documents Requireds
How to Apply for Citibank Home Loan
To apply for Citibank Home Loan online via Paisabazaar.com, follow the steps below.
- Visit the Home Loan page at Paisabazaar.com
- Provide details such as the loan amount required, the type of home loan required, etc.
- Provide more information pertaining to your home loan requirements and personal information such as the cost of the property, your full name, date of birth, etc.
- Select the check box to agree on the terms and conditions
- Click the View Best Offers button to proceed
- The best home loan offers according to your eligibility will appear for customers to compare and select.
- Apply for the home loan scheme that best suits your requirements
Check Also: Home Loan Process
Citibank Home Loan Customer Care
24*7 Citibank Customer Care Numbers
- Applicable across India – 1860 210 2484 (Local call charges apply)
- If calling from outside of India – +91 22 4955 2484
For loan-related queries, the above numbers are operational between 9 AM – 7 PM (Monday – Saturday) except on national holidays.
What is Citibank Home Credit loan and how does it work?
Citibank Home Credit loan is like an overdraft facility that operates through Home Credit Account (a current account linked to your loan). Any amount deposited in the Home Credit Account (if exceeds the threshold amount and subject to a maximum of your outstanding loan) is transferred on a daily basis to your loan account to offset the interest being charged on your loan. This amount is always available for withdrawal by you as an overdraft line.
Can I transfer my existing loan to Citibank?
Yes, you can transfer your existing loan to Citibank through Citibank Takeover Plus Enhancement. It is a home loan balance transfer facility that allows you to transfer your existing loan to Citibank account so that you can enjoy lower interest rates and then top up your loan to supplement additional financial requirements.
Can I get a top up on Citibank home loan?
Yes, Citibank offers top up on home loan for up to Rs. 5 crore. To apply for Citibank top up, you should have paid 12 EMIs on your existing Citibank home loan. Also, the sanctioning of Citibank top up loan is subject to meeting the bank’s parameters.
Check Also: Home Loan Top Up