Citibank Home Loan Details

Following are Citibank Home Loan details:

Loan AmountUp to Rs. 10 Crore
Rate of interest6.50% - 7.25%
TenureUp to 25 years
Lowest EMI possibleRs. 675 Per Lakh
Application feeUp to Rs. 5,000

 

Citibank Home Loan Features

  • Current Citibank home loan interest rates range from 6.50% to 7.25% p.a.
  • Citibank Application fee: Up to Rs. 5000
  • Booking fee: Up to 0.40% of the sanctioned amount
  • Citi Bank Interest Rates are linked to 3 month treasury bill yields.
  • Housing finance for purchase of under construction & ready homes.

Citibank Home Loan Benefits

The benefits of availing Citibank Housing Loans can be summarised as:

  • Borrow up to 80% of the property cost.
  • Choice of Home Credit or Home Advantage. You can save EMI interest & make faster repayment.
  • Get repayment flexibility. Opt for interest only EMIs during construction period.
  • Attractive Citibank home loan rate of interest, calculated on daily reducing balance.
  • No co-borrowers or guarantors are required for Citi bank home loans.
  • CitiPhone platform support for all queries.
  • Access Citibank Home Loan account anytime, anywhere digitally.
  • Pre-approved offers for select customers.
  • Top-up facility for existing home loan & take over customer.
  • Free Citibank Home Loan Eligibility Calculator & EMI Calculator.

Citibank Home Loan Eligibility Criteria

Following are the Citibank Home Loan Eligibility criteria:

  • You should be at least 21 years of age to apply for Citibank Home Loan.
  • Minimum work experience of 2 years is desired.
  • Citibank Home Loan Eligibility up to 80% of the property’s value (max of Rs. 10 Crore).
  • You should have a regular income source to service the loan.

Documents Required for Citibank Home Loan

Citibank Home Loan Documents requirement can be listed as:

Common Documents
  • Home loan application form
  • Passport sized photographs
  • Residence proof
  • Date of birth certificate
  • Identity proof
  • Signature verification proof
  • Business address proof

*Documents required for all applicants

*In case of partnership firm/ company- proof of identity, residence & address are required from all partners/ directors.

Income Proof Documents for Salaried
  • Latest salary slips- last 2 months 
  • Bank statements- last 3 months
  • Latest ITR/ Form 16
  • Work experience proof for last 2 years
Income Proof Documents for Self-employed
  • Computation of income
  • ITR
  • Balance Sheet and P&L Account with all schedules – CA attested
  • Bank Statement for last 3 months
  • Business continuity proof for last 3 years
  • Business address proof
  • For companies: 
  • Certificate of incorporation
  • Memorandum & Articles of Association
  • CA certificate for list of directors & list of shareholders (with shareholding pattern)
  • For partnership firms
  • Latest partnership deed
  • CA certificate for list of partners with profit sharing ratio

*copy of HUF deed required if HUF is an applicant

Property Documents
  • Agreement to sale, title deed, encumbrance certificate (photocopies)
  • Allotment letters/ by-laws of the co-operative society or association of apartment owners
  • Approved plans & clearance certificates from authorities

Citibank Home Loan Interest Rates

Citibank Home loans are linked to ‘Treasury bill linked lending rate’ i.e. TBLR. The external benchmark for Citibank home loan interest rate calculation is Government of India’s 3-Month Treasury Bill yields- as published by Financial Benchmarks India Private Ltd (FBIL). 

The interest rate for Citibank Home loan resets quarterly. The dates for reset are March 1, June 1, September 1 and December 1 each financial year. 

Currently Citibank’s Home Loan Interest Rates are:

Home Loans
  • TBLR 3M + 3.06% p.a. to TBLR 3M + 3.81% p.a.
  • Effective rate: 6.50% to 7.25%
Takeover Enhancement 
(Home Loan Balance Transfer +To Up)
 
  • TBLR 3M + 3.16% p.a. to TBLR 3M + 3.91% p.a.
  • Effective rate: 6.60% to 7.35%
Home Loan with Home Credit
  • TBLR 3M + 3.41% p.a. to TBLR 3M + 4.16% p.a.
  • Effective rate: 6.85% to 7.60%

* Citibank home loan interest rates effective from July 26, 2021
* TBLR as of July 12, 2021 stands at 3.44% p.a.

Citibank Home Loan Processing Fee and Other Charges

Before signing up for a home loan, it is important to make note of Citibank Home Loan Schedule of Charges. Here is a comprehensive list including Citibank Home Loan Processing Fees, prepayment charges and so on:

Application fee (non-refundable)Up to Rs. 5,000, to be paid upfront for loan processing irrespective of sanction 
Booking fee (non-refundable)Up to 0.40% of sanctioned loan amount (to be paid during loan documentation)
Part prepayment charges
  • Fixed rate home loans: NIL
  • Variable Rate Home Loans/ Semi Fixed Rate Home Loans (during variable rate period): NIL
  • Semi Fixed Rate Home Loans (during fixed rate period):
    • For part prepayment below 25% (once a year) of the loan amount sanctioned: Nil
    • If the loan is closed within 1 year of the date of part prepayment: The part prepayment will also bear the foreclosure charges.
    • For prepayment above 25% in a year during the fixed rate period: 2%
Foreclosure charges
  • Variable Rate Home Loans/ Semi Fixed Rate Home Loans (during the variable rate period): NIL
  • Fixed Rate Home Loans/ Semi Fixed Rate Home Loans (during the fixed rate period): 2% of loan outstanding
Charges for NACH/SI/Cheque bounceRs. 500 per instance
Penal interest 2% of the prevailing interest rate on the outstanding loan amount for the defaulted period
Re-pricing feeNil

*Applicable GST will apply to the charges mentioned above.

Citibank Home Loan Comparison with Other Top Banks

Currently Citibank Home Loan Interest Rate is one of the lowest in the market. Here is the comparison between top 5 home loan interest rate offers from leading lenders:

LenderMaximum Loan AmountMaximum TenureInterest RateProcessing Fee
Citibank Home LoanRs. 10 Crores25 years6.50% - 7.25%Up to Rs. 5,000
Kotak Mahindra Home LoanRs. 5 Crores30 years6.65% - 7.30%Up to 2% of the loan amount + GST
ICICI Bank Home Loan90% of property cost30 years6.75% - 7.55%0.50% - 2% or Rs. 1,500 (Rs. 2,000 for Mumbai, Delhi & Bangalore), whichever is higher + GST
SBI Home LoanRs. 10 Crores25 years6.75% - 8.50%Nil till Aug 31.
HDFC Ltd Home LoanUp to 90% of property cost30 years6.75% - 7.65%Up to 1.50% or Rs. 4,500 (whichever is higher) + applicable taxes
Bank of Baroda Home LoanRs. 10 Crores30 years6.70% - 8.60%Up to 0.50% (minimum Rs. 8,500 & maximum Rs. 25,000)

Citibank Home Loan Schemes & Offers 

Citibank Home Loans are currently available at lowest interest rate. The rates are linked to 2 month treasury bills. You can opt for any of the following repayment structures:

Home Credit Advantage- Home Loan Account is linked to current account. Interest is calculated on the daily reducing balance and thus offers maximum saving when you park your savings in this account.

Home Credit Vanilla option- Bank sets an overdraft line on the Home Credit Account. Interest thus saved go towards increasing line of credit. You enjoy greater liquidity & save on interest. 

Home Credit Fast Track option- Repay home loan faster. Interest saved is adjusted for reducing loan outstanding & tenure.

Now, let’s take a quick overview on different types of Citibank Home Loans:

Citibank Home Loan: 

  • Home Loan for purchase of ready or under construction residential properties. 
  • Maximum loan up to Rs. 10 Crore. 
  • The repayment tenor can range up to 25 years. 
  • Highest LTV: 80% of the property value
  • Can be borrowed as Home Credit Advantage, Home Credit Vanilla or Home Credit Fast Track.

Citibank Takeover Plus Enhancement:

  • Transfer existing Home Loan balance to Citibank. 
  • Lock better interest rate & pay lower EMIs.
  • Top up facility.
  • Option to go choose Home Credit Fast Track.
  • Loan up to Rs 5 crore.
  • Max tenure of 20 years.
  • Choose from Home Credit Advantage, Home Credit Vanilla or Home Credit Fast Track repayment options.

Citibank Top Up on Existing Home Loan: 

  • Avail of a Top-Up on your existing Home Loan. 
  • Loan for home renovation, education etc. 
  • Minimal documents for existing Citibank Home Loan customers.
  • Top up to Rs. 5 Crore.
  • Flexible repayment options. 

Citibank NRI Home Loans

  • Home loan for NRIs
  • To purchase ready to occupy apartment or under construction house in India. 
  • Max housing loan up to Rs. 5 Crore. 
  • Attractive rate of interest and make up for up to 80% of property value.
  • Max tenure up to 25 years.

How to Calculate Citibank Home Loan EMI?

You can instantly calculate Home Loan EMI online with the help of Citibank Home Loan Calculator.

Share loan amount, interest rate and tenure and voila, the calculator will determine EMI for you. 

You will also get access to amortisation schedule for Home Loan.

You can use several combos to find the most affordable loan parameters for your financial health.

Citibank Home Loan EMI Calculation:

 Loan Amount (Rs) EMI for HL @6.5% for 10 Yearsfor HL @6.5% for 20 Years
3000000                   34,064         22,367
4000000                   45,419         29,823
5000000                   56,774         37,279
6000000                   68,129         44,734
7000000                   79,484         52,190

Get access to Home Loan EMI Calculator

Citibank Home Loan Customer Care

You can contact Citibank Customer Care online:

Call 24*7 CitiPhone Numbers (applicable across India) from Monday to Saturday from 9 am to 7 pm:

  • 1860 210 2484 (Local call charges are applicable)
  • +91 22 4955 2484: For calling from outside of India

You may register online at:

https://www.online.citibank.co.in

You can also download Citi Mobile App and avail their mobile banking facility.

Furthermore use website form for real time assistance for your queries.

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Best Value Home Loans

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.

CITIBANK Home Loan FAQs

✅ How can I apply for a Citibank Home Loan?

You can apply for a Citibank Home Loan through the following ways:

  • Online through portal.
  • Through CitiPhone Priority Service Numbers.
  • By visiting Citibank branch.
  • Through MyMoneyMantra website/ app.

✅ What is the maximum repayment tenure for Citibank Home Loan?

You can get up to 25 years of repayment tenure for Citibank Home Loans.

✅ What is the maximum amount offered under Citibank Home Loan?

The bank provides Home Loan amount up to Rs. 10 Crore, depending on the type of loan and eligibility of the borrower.

✅ What is the maximum Loan-to-Value (LTV) available for Citibank Home Loan?

The bank provides a maximum LTV of up to 80% of the cost of the property.

✅ What is the minimum age required to apply for Citibank Home Loan?

The applicant must be a minimum of 21 years of age at the time of applying for a Citibank Home Loan.

✅ Does the bank provide pre-approval for Home Loan?

Yes, you can get a pre-approved Home Loan based on your income and repayment capacity. Based on the pre-approved loan amount, you can identify the property that you need to buy (subject to obtaining the final sanction by the bank).

✅ Can I get a top-up on the existing Home Loan from Citibank?

Yes, after repayment of your existing Home Loan for more than 6 months, you can apply for an additional top-up loan from Citibank.

✅ What are the repayment modes available on my Citibank Home Loan?

You can repay your Citibank Home Loan through NACH (National Automated Clearing House) or through SI (Standing Instruction) to your Citibank account.

✅ Can I prepay my Citibank Home Loan?

Yes, the bank permits prepayment of Home Loan in part or full.

✅ What is Semi Fixed Rate Loan?

Semi Fixed Rate Loan is a loan facility wherein the interest rate offered is directly linked to the bank's TBLR. The interest rates on these loans remain fixed for initial tenure and then subsequently become variable after completing the initial tenure.