Loan Against Property By Citibank

Features For Home Loan By Citibank

 

Special features of Loan Against Property

  • Loans up to Rs.5 crore*
  • Flexible repayment tenure up to 15 years*
  • Loan against residential or commercial property
  • Loans up to 70% of the property value*

You can get a Loan Against Property for

  • Purchase of machinery
  • Purchase of commercial property
  • Closure of existing high-cost debts
  • Buying a new property
  • Your child's education
  • Any other personal, business or professional need

Special features^ of Loan Against Property for Child's Education

  • Loans up to Rs. 20 lacs for studies abroad
  • Loans up to Rs. 10 lacs for studies in India
  • Attractive interest rate of 11% p.a. (floating)
  • Eligibility basis parent's income who is the main applicant on the loan
  • Loan against residential/ commercial property

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

 

Loan Amount

How do I avail a Citibank Property Power Loan (Loan Against Property)?

What is the maximum loan amount I can avail?

Citibank Loan Against Property are available from Rs5 Lakh to Rs5 Crore against Residential properties. You can also avail a Loan Against Property up to Rs3 Crore against commercial properties.

What is the maximum tenure that I can have for my Loan Against Property?

Citibank Loans against Property have maximum repayment tenure of up to 15 years. The actual tenure of your loan is subject to the application meeting Citibank credit acceptance parameters.

Which are the cities where the property needs to be located to avail a Loan Against Property from Citibank?

The property against which the Loan Against Property is sought can be based out of any of the following approved Citibank locations - Ahmedabad, Bangalore, Chennai, Delhi / NCR, Hyderabad, Jaipur, Kolkata, Mumbai, Pune, Coimbatore, Chandigarh and Surat.

What is the maximum Loan to Value (LTV) that I can avail a Loan Against Property for?

Based on the valuation of your property and the loan amount sought, you can avail a Citibank Loan Against Property of up to 70% of your property value. The actual loan to value ratio of your loan is subject to Citibank credit acceptance parameters

What is the minimum eligibility for availing a Citibank Loan Against Property?

You should be at least 23 years of age and have a continuous work experience of at least 3 years and 2 years of cash profit in your business, excluding carry forward losses to avail a Loan Against Property from Citibank.

Can I avail a top-up loan on my existing Loan Against Property?

Yes, a top-up loan can be availed on your existing Citibank Loan Against Property. Once you have completed repayments on your existing loan for more than 6 months, we can offer you an additional top-up loan on your existing loan. The final sanction of such loan is at the discretion of Citibank.

EMI

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 against Property 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 Rs1 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)

5
2,250

7
1,792

10
1,464

15
1,233

How do I repay my Citibank Loan Against Property EMI?

Citibank offers you an option to repay your loan 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 Citibank Loan Against Property?

Yes, you are allowed to prepay your loan. You can also choose to make partial prepayments on your Loan Against Property. Please refer to the Terms and conditions mentioned in the loan agreement to know more about the applicable charges on loan prepayments.

Home Credit

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 Against Property

 

About

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.

    Loan Against property lets you unlock the full potential of your property, and use it to build a bigger life for yourself. Whether your property is residential, industrial or commercial, a loan against property will ensure maximum finance, taking care of your unique needs as either a salaried or self-employed individual. At My Loan Partner, we help to unlock the wealth in our client's real estate assets.

    Your loan application is now a very simple process as never before and we will get your loan approved asap.

    We have multiple options of financial institutions to provide various types of financial services to our esteemed customers at their doorsteps at competitive rates.

    We are thus providing a list of documents which are required from your side to get your loan approved from the respective banks and financial institutions.

    List of documents for Salaried persons
    . Proof of Identity:- Passport/Driving Licence/Voters ID/PAN Card(any one).
    . Proof of Residence:- Leave and License Agreement/Utility Bill(not more than 3 months old)/Passport(any one).
    . Latest 3 months Bank Statement(where salary/income is credited).
    . Salary slips for last 3 months.
    . 2 Passport Size Photographs.

    List of documents for Self-Employed
    . KYC Documents:- Proof of Identity;Address proof;DOB proof.
    . Proof of Residence:- Leave and License Agreement/Utility Bill(not more than 3 months old)/Passport(any one).
    . Income proof(audited financials for the last two years).
    . Latest 6 months Bank statement.
    . Office address proof.
    . Proof of residence or office ownership.
    . Proof of continuity of business.

    Interested? Please leave your details and we will contact you soon