Citi Bank

Bank Name
Interest Rate Range
Processing Fee Range
Loan Amount
Tenure Range
Action

Rate of Interest

  • Floating rate of Interest : 8.80% p.a. to 9.30% p.a.

Eligibility Criteria

  • Minimum 21 years of age and maximum 65 years
  • Loan period from 3 years to 25 years
  • Should be either salaried or self-employed and have regular source of income
  • Should have sufficient income to pay EMI on required loan
  • Applicant must be Indian Citizen, in case of NRI or person of Indian origin it should be properly documented

Fees and Charges

  • Processing Fees 0.00% to 1.00% depends on type and category of borrower
  • Preclosure Charges – Rs 0
  • Part Payment charges- Rs 0
  •  No any other hidden charges

Documents Required

  • KYC- Pan Card, Adhar Card, ID Proof and Address proof
  • ITR with computation for 3 years with Income proof
  • Bank Statement
  • Photograph
  • 2 references

Value Additions

  • Doorstep services
  • E- approvals
  • Part payment allowed

Special Feature

  • No guarantor required
  • No pre-closure or part payment fees
  • Balance Transfer Allowed
  • Top up available

Overview about Citi Bank

Citi Bank was founded in 1812 as the city bank of New York, later First National City Bank of New York, Citibank provides credit cards, mortgages, personal loan, commercial loans, and lines of credit. Citi bank offers home loans at competitive interest rates for already built and under constructions apartments and flats, the applicant has the option to only pay interest during the construction period.

Your Eligibility depends on following


You should be minimum 21 years old

You should be maximum 65 years old

You should be salaried or self employed

You should have sufficient income to pay EMI on required loan

You can increase your eligibility by doing following

Make your spouse as co applicant , her/his income will also be added in eligibility
Choose longer tenure of loan period maximum up to 25 years
Add more than one co applicant if required to enhance your eligibility
Close short term loans, this will also increase your eligibility

Rate of Interest and Other Charges for Home Loan are following

Citibank Home Loan Interest Rate:

Sno.

Home Loan Amount

Tpye of Applicant

Rate of Interest

1

Upto Rs 28 Lakhs

All types

9.30% - 9.80%

2

Greater Than Rs 28 Lakhs

Salaried

9.50% - 10.05%

3

Greater Than Rs 28 Lakhs

Self-Employed

9.75% - 10.25%

Citibank Home Loan MCLR:

Sno.

Loan tenure

MCLR

1

Overnight

8.2%

2

1 month

8.55%

3

3 months

8.6%

4

6 months

8.65%

5

1 year

8.6%

Existing Loan take over or New Loan

Why you should choose Citi Bank:

  • Attractive Interest Rates.
  • Easy Home Loan up to 10 crore.
  • Flexible repayment tenure up to 25 years.
  • Home Loans up to 80% of the property value.
  • Flexibility to pay interest only during construction period.

 

Features of Loan

Special Features and benefits are following:

  • Competitive, low and affordable rates of interest
  • Applicants can apply for home loans that range from a minimum amount of Rs 5 lakhs up to a maximum amount of Rs 10 crore
  • Applicants can also avail ofhome loans with tenures that stretch up to a maximum of 25 years
  • Home loans can be availed up to 80% of the value of the property
  • Applicants have the freedom to make interest payments only during the period of construction
  • Interest on Citibank home loans is computed on the basis of daily reducing balance, thereby making it easier for borrowers to pay off their loans
  • Applicants are not required to produce a guarantor or a co-applicant when applying for a loan
  • The loan application process is quick, easy and hassle-free
  • Applicants can also make repayments easily via the bank’s ECS facility
  • The bank provides customers with a 24 hours Citi Phone portal through which all their queries can be attended to
  • Customers also have the advantage of accessing their home loan account details through the bank’s online facility from the comfort of their homes
  • Zero prepayment or foreclosure charges or fees
  • Customers can also avail of the home credit facility provided by the bank

 Documents Required for applying  Home Loan  with Citi Bank

  • igned application form with photograph
  • Pan Card for all applicant and co applicants
  • ID proof and residence proof for all applicant and co applicant
  • ITRs with computation for latest 3 years
  • Copies of Sanction letter/ Statement of account of all existing loans
  • Other Documents required for Salaried person
    1. Salary Slip for last 6 months
    2. Bank Statement for last 6 Months
    3. Form 16 for last 2 years
    4. Relationship proof with co applicant
  • Other Documents required for Self Employed – Proprietorship
    1. Business profile
    2. CA certified profit and loss account along with balance sheet for last 3 years
    3. Business registration certificate
    4. Office address proof
    5. Bank Statement for last 12 months
    6. Relationship proof with co applicant
  • Other Documents required for Self Employed – Partnership Firm
    1. Business profile
    2. CA certified profit and loss account along with balance sheet for last 3 years
    3. Partnership deed
    4. Office address proof
    5. Business registration certificate
    6. Bank Statement for last 12 months
  • Other Documents required for Company
    1. Business profile
    2. CA certified profit and loss account along with balance sheet for last 3 years
    3. MOA/AOA/COI
    4. Office address proof
    5. Business registration certificate
    6. Bank Statement for last 12 months
  • Additional Documents required for Balance Transfer case
    1. Statement of account of existing loan
    2. List of Documents given to existing bank
    3. Foreclosure letter
  • Property papers
    1. Complete chain of property papers along with sanctioned plan