Citibank home loans, your easiest way to unlock your dream home! With easy eligibility criteria and transparent lending terms, Citibank’s is the perfect lending partner. If you are an individual aged 21 and above, salaried or self-employed, check your Citibank home loan eligibility to get a home loan at the lowest rate of interest starting 6.65% p.a.
Below are the Citibank Home Loan Eligibility Criteria:
Following are the key features of Citibank Home Loan and its benefits:
|Minimum loan amount||Rs. 5 Lakhs|
|Maximum loan amount||Rs. 10 Crores|
|Interest rate||6.65% - 6.90%|
|Interest rate for Home Loan Takeover with Enhancement||6.79% - 7.54%|
|Interest rate for Home Loan Top-up (with cash out portion within 100% of Home Loan amount)||6.79% - 7.54%|
|Application fee||Up to Rs. 5,000 (non-refundable & upfront)|
|Booking fee||Up to 0.40% of the sanctioned loan amount (non-refundable & should be paid during loan documentation).|
|Tenure of repayment||Up to 25 years|
|Lowest EMI Per Lakh||Rs. 642|
Knowing the eligibility criteria is only the first step. The next step is to personally assess yourself to know whether you qualify for the loan. A self-assessment of your Citibank Home Loan Eligibility will place you in a good position to qualify for the loan.
Here are some factors that have been known to truncate the dreams of many applicants in need of Home Loans:
With an EMI calculator, you can:
This option gives borrowers the opportunity to maintain financial liquidity. Borrowers have an overdraft line opened for them on their home credit account. On this account, interest savings generated from the credit is diverted towards increasing the credit line, which the borrower can always withdraw at any time.
Under Home Credit Fast Track, customers have the option of repaying their debt before the end of the loan tenure. The interest amount saved in this scheme is adjusted to lower outstanding debt. Customers can significantly lower their debts and foreclose the loan sooner than the loan tenure.
There are many reasons why Citibank may refuse your application. To aid applicants, they release important eligibility details from time to time. However, the final decision to release funds rests with the bank. Sometimes, they reject applications for reasons that are not clear, which can be a frustrating experience for a borrower. For this reason, we have put together some essential tips that will help you increase your eligibility for a Home Loan. Passing all the requirements will improve your chances of getting the loan you seek.
Planning is a very important aspect of finance management. Taking up a loan is a decision that should not be taken lightly because such a decision will affect your life long after you have taken the loan. Failing to plan for the loan before you take it up is one mistake you need to avoid. One should keep in mind the estimate of the financial cost of the loan before even availing it. Therefore, using a Housing Loan Eligibility Calculator Citibank should be a necessity, not an option.
With a Citibank Home Loan Eligibility Calculator, you can plan ahead and also assess your ability to repay the loan based on your current income. This calculator is very easy to use and it costs you nothing as it is free.
To use Citibank Loan Eligibility Calculator, follow the steps mentioned below:
MyMoneyMantra offers all the required tools and information to borrowers to assist them in applying for a Home Loan without stress. The website has all the details for almost all banks and NBFCs in India that offer Home Loans to borrowers. MyMoneyMantra's EMI Calculator is one such tool that helps you make projections about how much you are liable to pay as EMI for the loan you are about to take. The EMI Calculator is available for free and can be used for any number of times.
To get an accurate EMI result, there are only a few steps you need to take and these steps are listed below:
Click the Calculate icon after entering details. Within seconds, MyMoneyMantra's EMI Calculator will generate an accurate EMI result based on the information you provided.
Citibank offers the following variety of housing loans under Home Loan Vanilla and Home Credit Fast Track schemes:
Home Loan Eligibility by Banks
MyMoneyMantra is India’s largest phygital loan distributor. With trust of 70 lakh customers, we assure hassle free access to the best Home Loans up to 10 crore for housing loan borrowers in India. Our service is 100% free. We use latest technology and AI to serve customers across the length & breadth of our diverse country. Check Eligibility & Apply.
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Citibank has made it easy for applicants to apply for a Home Loan by opening up different application channels. You can apply for this loan by:
The minimum loan amount you can apply for is Rs. 5 Lakhs, while the maximum amount is Rs. 10 Crores.
The maximum loan tenure for this loan is up to 25 years. Customers are expected to repay the loan, including the accrued interest on or before the end of the agreed tenure.
The maximum loan to property value offered to customers is 80%. The borrower is expected to cover up the remaining 20% of the value.
Only applicants who are at least 23 years of age are allowed to apply. And they should have work experience of at least 2 years with their current employer.
Yes, you can. Depending on your repayment capacity, Citibank can approve your application ahead of time. Based on the amount already approved, you can go in search of a property that is up for sale for that amount. However, you should note that Citibank would evaluate the property based on official standard protocols.
Yes, you can. Once you are able to meet your payments obligations for more than six months, you can apply for a top-up loan. Citibank will evaluate your application and will issue the loan to you if you qualify for it.
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