How to Apply for Citibank Home Loan - Citibank Home Loan

You can fulfill the dream of owning a new home with the help of Citibank. Citibank offers a variety of Home Loans with competitive interest rates. You can apply for a home loan if you want to purchase a home, renovate or extend, etc. The house itself acts as a security to the loan. It is the first bank with the loan rate linked to treasury bill (T-Bill). Go through this page and find out all about Citibank Home Loans.

Features of Citibank Home Loan

• Attractive Interest Rates.
• Flexible repayment tenure of up to 25 years.
• Easy Home Loan up to Rs. 10 crores.
• Offers Home Loans up to 80% of the property value.
• Offers flexibility to pay interest-only during the construction time.
  

Benefits of Citibank Home Loan

• No guarantors/co-borrowers required.
• Interest is calculated on daily reducing balance.
• Avail online access to your Home Loan account.
• Provides CitiPhone platform to answer all your queries.
  

Types of Citibank Home Loans

Citibank offers tailored schemes for specific customer segments designed in order to meet their loan requirements. Some of the popular Citibank Home Loan products are as follows:

Citibank Home Credit Loan

Home Loan Credit is a home loan overdraft scheme which allows borrowers to deposit their surplus savings for any period in the overdraft account and reduce overall interest outgo on their housing loan.

Eligibility

Offers Loan to self-employed/businessmen/professionals with the uneven flow of income throughout the year, and for salaried borrowers who expect year-end bonuses.

• Individuals between the age of 23 and 60 years can apply.
• The loan amount ranges from Rs. 5 Lakh to Rs. 10 Crores.
• A maximum of 80% of the property value is offered.
• A maximum period of 25 years tenure is offered.
• A decent Credit Score is needed for the applicant.
  

Loan Against Property

You can leverage your property and purchase machinery, close existing high-cost debts, buy a new property, finance a wedding, pay for your child's education or any other business/personal/professional need.

Eligibility

• The Loan is given against residential property.
• A maximum loan of up to Rs.5 crore can be offered.
• A maximum of 70% of the property value is offered.
• A maximum period of 15 years tenure is offered.
  

Takeover Plus Enhancement

You can transfer your existing Home Loan to Citibank and avail lower interest rates. Hence you can close your high-cost debts and reduce your monthly payments.

Eligibility

• Transfer your Loans of up to Rs. 5 Crore.
• A maximum period of 20 years tenure is offered.
• Loan Sanction is based on your existing Loan repayment record.
• Avail an enhancement of up to Rs.3 Crore for any business/personal/professional need.
  

Top-up Existing Home Loan

You can renovate your home/fund a medical emergency/plan for your child's education/meet any other personal/professional needs. The top-up facility can be availed based on your repayment record, current property value, and debt-to-income ratio.

Eligibility

• Attractive interest rates making the top-up loan one of the cheapest loans.
• You can get a Top-up of up to Rs 5 Crore.
• There is an option to take a separate facility that keeps your existing home loan intact.
• Attractive interest rates that make the top-up loan unique and cheap.
• You can reclaim your entire principal repaid with a simplified documentation process.
  

NRI Home Loans

NRIs can also apply for Citibank Home Loan for purchasing a ready-to-occupy home/apartment, or any under-construction property by an approved developer. You can simply download the NRI Home Loan application form and apply for the loan.

Add-Ons

Home Credit

Citibank offers the unique home credit loan that combines the benefits of both the regular term loan with the current account transactional features. This helps you to repay your loan faster and save on interest. Citibank offers 2 different options in

Home Credit loans that can be chosen depending on your needs:

• Home Credit Vanilla Option: It gives you the option to maintain liquidity. An overdraft line is set on the Home Credit account and interest saved out of the Home Credit facility go towards increasing this line, which is available for withdrawal.
• Home Credit Fast Track Option: It gives you the option to repay your home loan faster. Interest saved is adjusted towards reducing your outstanding loan, which effectively reduces the tenure of your loan and helps you close your home loan faster.
  

Gruh Suraksha

Gruh Suraksha is a Home Insurance Plan that offers a comprehensive package of insurance benefits designed to cover Building and Household articles. It offers 5 options (Bronze, Silver, Gold, Platinum, and Diamond) in 2 different sections, namely Household articles and building.