Citibank Home Loan

Features

• Attractive Interest Rates
• Easy Home Loan up to Rs. 7.5 crores*
• Flexible repayment tenure up to 25 years*
• Home Loans up to 80% of the property value*
• Flexibility to pay interest only during construction period

Eligibility

• Salaried customers.
• Self employed customers
• Sole proprietors
• Partnership firms
• HUF
• Private limited companies & closely held Public Limited companies

Minimum and Maximum Amount

• Easy Home Loan up to Rs. 7.5 crores
• Home Loans up to 80% of the property value

Purpose

• To purchase/construct house/flat
• To renovate/extend/repair existing house/flat.
• To purchase a plot of land for construction of house.
• To acquire household articles along with the house/flat-for furnishing the house/flat.

Processing charges and Interest Rates

• Floating Interest Rate on all loans booked uptil and including June 30, 2010 are linked to the Citibank Mortgage Prime Rate. The Citibank Mortgage Prime Rate (CMPR) is 16.50% effective from May 20, 2011. Interest on Floating Home Loans is linked to the CMPR and the existing loans are in the range of 475 bps above and 775 bps below the CMPR.

Effective July 1, 2010, the Interest Rate on new loans is benchmarked to the Reference Rate.

• Home Loans are referenced to the Home Loan Reference Rate (HLRR)
• Property Power, Home Loan Top-up, Home Loan Takeover Enhancements are referenced to the Property Power Reference Rate (PPRR)
• The Reference Rate is calculated, inter alia, on the basis of the Base Rate of Citibank as applicable from time to time.
• The current Reference Rates (effective August 5th, 2011) are:
• Home Loan Reference Rate (HLRR) – 12.00%, i.e., Base Rate + 2.25%;

-          Property Power Reference Rate (PPRR) – 14.00%, i.e., Base Rate + 4.25%

Options for repayment

Flexible repayment tenure up to 25 years

Charges on Pre-closure of loan

• No charges, if pre-payment is made from own sources of the borrower

 

Citi Home One Loan

• Loan amount up to Rs. 7.5 crores*
• Up to 30% of the loan amount or Rs. 1. crore can be structured as a credit line on which you pay interest only
• Your credit line ensures that you don’t have to undergo the hassles of applying for a new loan every time you need funds
• Whenever you need money, you can withdraw your own funds deposited into the CitiHome One Account
• Flexibility to repay the credit line as per your convenience. You also have an option to make one time bullet repayment or convert into term loan at the end of the credit line tenure

Link to the website to apply online and check more details: https://www.online.citibank.co.in/products-services/loans/home-loan.htm

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Tags: Citibank, Home Loan

Category: Home Loan