Home Loan By Citibank
Features For Home Loan By Citibank
Special features of Citibank Home Loan Takeover
- Transfer your high cost Loans of up to Rs.5 Crore*
- Flexible repayment tenure up to 20 years.*
- Sanction basis your existing Loan repayment record.
- Exclusive Home Credit Fast Track facility - Lets you save interest by depositing your surplus funds and the interest saved reduces your principal outstanding allowing you to repay your Loan faster.
- Avail an enhancement of up to Rs.3 Crore for any personal, business or professional need.
Benefits of Citibank Home Loan Takeover
Move to Citibank Home Loan and reduce your monthly payments.
Benefits of Citibank Home Loan Takeover with Enhancement
Avail of an enhancement and close your high cost debts to reduce your monthly payments.
Home Credit Advantage For Home Loan By Citibank
Citibank offers you to power pack your loan through the unique Home Credit option which lets you decide what interest you pay on your loan.
Home Credit loans operate through Home Credit Account which is a current account linked to your loan. All amounts deposited in the Home Credit account in excess of 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.
Citibank offers you 2 options in Home Credit Loans that you can choose depending on your needs:
Home Credit Vanilla option
Home Credit Vanilla option gives you the option of maintaining liquidity. An overdraft line is set on the Home Credit account and interest savings arising out of the Home Credit facility go towards increasing this line, which is always available for withdrawal by you.
Home Credit Fast Track option
Home Credit Fast Track gives you the option of repaying your Home Loan faster. Interest saves are adjusted towards reducing your loan outstanding, which effectively reduce the tenure of your loan and help you close your Home Loan faster.
FAQ For Home Loan By Citibank
How do I transfer my existing Home Loan to Citibank?
What is the maximum Home Loan Takeover amount I can avail?
You can avail Citibank Home Loan Takeover up to Rs.5 Crore.
What is the maximum tenure that I can have for my Home Loan transfer?
Citibank Home Loan Takeover have maximum repayment tenure of up to 20 years. The actual tenure of your Loan is subject to the bank's discretion and underwriting criteria and in line with credit acceptance parameters.
What is the maximum Loan to Value (LTV) that I can avail for a Loan transfer taken along with an enhancement?
Based on the valuation of your property, you can avail a Loan takeover along with enhancement of up to 80% of your property value.
Can I avail an enhancement on my existing running Loan?
Yes - you cannot only transfer your existing Loan to Citibank, but also avail an enhancement up to Rs.3 Crore for any of your personal, business or professional needs. You can also use the enhancement funds to close your other Loans with other institutions.
What is an EMI and how is the EMI calculated on my Loan?
EMI stands for Equated Monthly Installments. This installment includes both the Principal and Interest Components. Citibank Loans are repaid through EMIs (Equated Monthly Installments) over the period of the Loan. The table below shows indicative EMIs for different periods for a Loan of Rs.1 Lakh and interest rate of 10%. Click here to find out the EMI on your loan.
Loan Tenure (in Years)
EMI Per Lakh (in Rupees)
How do I repay my Loan EMI?
Citibank offers you a host of repayment options for your Loan EMI. You can pay your EMI through: SI (Standing Instruction) on your Citibank account or an ECS (Electronic Clearing System) instruction on your Non-Citibank account.
Can I prepay my Loan??
Yes, you are allowed to prepay your Loan. You can also choose to make partial prepayments on your Loan. Please refer to the Terms and conditions mentioned in the Loan agreement to know more about prepayments.
Is it possible to further reduce my interest costs?
Yes, you can! You can opt for Citibank Home Credit to further reduce the interest cost on your Loan.
Citi India began operations over a century ago in 1902 in Kolkata and today is a significant foreign investor in the Indian financial market. As promoter-shareholder, Citi has played a leading role in establishing important market intermediaries such as depositories, credit bureau, clearing and payment institutions. Operating 45 full-service Citibank branches in 28 cities, it is the preferred banker to 45,000 small and mid-sized companies. Citi helped lay the foundation of the Indian software industry by establishing Citicorp Overseas Software Ltd. and lflex Solutions Ltd.; it pioneered the ITES industry in financial services through Citigroup Global Services Ltd. (CGSL). Oracle acquired lflex in 2005 and CGSL was acquired by Tata Consultancy Services in 2008. Citi India, with around 11,400 employees, is headquartered at First International Financial Centre (FIFC), a world-class environmentally friendly building. It added two new green premises this year, taking the total LEED certified premises to 12.
Citi serves the full spectrum of clients - from helping India's top global corporations commit capital, make markets and manage their global cash positions to supporting the growth ambitions of the country's small and mid-sized enterprises and enabling individuals and households save, invest, spend, borrow and protect their money with trust and confidence. Citi India's products and services are organized under two major segments: Institutional Clients Group (ICG) and Global Consumer Bank (GCB).
ICG serves Citi's best-in-class products, services and execution through Global Banking, Global Markets, Treasury & Trade Solutions, Securities Services, Citi Research and Citi Private Bank.
GCB serves clients in every segment across the entire wealth continuum as they grow in affluence, beginning with the path breaking salaried proposition (CitiAtWork), the emerging affluent (Citibanking), the affluent (Citigold) and the High Net Worth (Citigold Private Client). Citi pioneered the Non-Resident proposition in 1985 to serve the global Indian's unique banking and wealth management needs. With 2.3 million cards in force and 16% share in card spends, Citibank offers a suite of market first premium, rewards and affinity credit cards. Citi Wealth Advisors offers brokerage services to retail customers.