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Citibank Home Loan

Citibank Home Loan

 

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Member's Recomendation

2   1

2 review(s)
Expert Review | Write a Review

  • Interest Rate
  • 11.75%
  • Pre payment charges
  • 2%
  • Balance Transfer Charges
    (incase of refinance)
  • 2%
     
  • Part-payment Charges
  • Nil
  • Switching Charges
    (Fixed to Floating or vice-a-versa)
  • 1% - on principal outstanding
     
  • Loan to Value ratio
  • 80%
  • Speed of Sanction
  • 7 working days
  • Ease of documentation
  • Pre- Approved projects only. Less Documentation
  • Customer Service
  • Good
  • Franking Charges
  • 0.2%

Features and Benefits of Citibank Home Loan

 

Features:

  • Home loan is available for purchase of under construction properties or ready property/self-construction/or purchase of plot
  • Loan is available up to Rs 7.5 crore
  • Loan repayment period is up to 25 years
  • Home loans are available up to 80% of the property value
  • Bank offers flexibility to pay interest only during construction period
  • Bank offers online access to home loan account

Eligibilty:

  •  Salaried /Self- employed including sole proprietors, HUF, partnership firms, private limited companies all are eligible to apply for home loan.
  •  Citibank offers home loan for property in approved locations namely Delhi & NCR region, Chennai, Bangalore, Hyderabad, Coimbatore, Mumbai, Pune, Ahmedabad, Baroda, Surat, Indore, Kolkatta.
  • Main applicant is required to be of 23 years of age & co-applicant should be of 21 years of age when loan is sanctioned.
  • Maximum age any individual at the time of loan maturity can be maximum up to 65 years

Charges:

  • Loan processing charges: Up to 1% of loan amount
  • Cheque/ECS/Standing Instruction: Rs 500 is levied for any bounce in payment
  • Refinancing charges: 2% on outstanding loan amount
  • Part Payment charge: Nil for part payment less than 25% of sanctioned loan amount & 2% for more than 25% of the sanctioned amount
  • Foreclosure charges: These charges are levied at the time of pre-closure of the loan at the rate of 2% of the outstanding loan

 

Documents Required for Citibank Home Loan

Salaried Individual
  • Application form with recent photograph
  • Salary slip of last 3 months
  • Latest Form 16
  • Bank statement for last 6 months
  • Processing fee check
  • Proof of identity (any one): Passport Driving licence/photo credit card/Employee licence/Voter's ID/PAN card
  • Proof of Residence (any one): Driving licence/Any utility bill/Govt. or authority bill
  • Proof of age (any one) : Passport/Voter's ID/PAN card/' Birth certificate/life insurance policy or premium receipt Signature verification proof
  • Repayment track record of existing loans/Loan closure letter
Self Employed
  • Application form with recent photograph
  • Bank statement for last 6 months
  • Processing fee check
  • Proof of age (any one) : Passport/Voter's ID/PAN card/'Birth certificate/life insurance policy or premium receipt
  • Proof of identity (any one): Passport Driving licence/photo credit card/Employee licence/Voter's ID/PAN card
  • Proof of Residence (any one): Driving licence/Any utility bill/Govt. or authority bill
  • P&L and balance Sheet for last 2 years certified/audited by CA
  • Qualification proof of the highest professional degree
  • Proof of existence
  • Income Tax return/Computation of total income/Auditor's Report Balance sheet/Profit and loss account for last 2 years certified by CA
  • Repayment track record of existing loans/Loan closure letter
  • Proof of office address
  • Board Resolution in case of company

Expert Review of Citibank Home Loan

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User Reviews

  • Product Rating -

Average user rating

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Citi is one of the first ones to increase the rate to customers

By: rka_1, Mumbai | 10 December 2009

I am a unfortunate home loan customer of Citi. A few years back due to about 0.5 % lower rate difference offered by Citi, I went and took a home credit loan from then. Since then the experience has be...[Read]

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  • Product Rating -

Average user rating

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I have made repeated requests but the bank is not relenting

By: satish prakash, Ahmedabad | 09 December 2009

Hello Sir, I had submitted for a housing loan request with Citibank for buying a flat in OMR. The loan request was sanctioned and the bank had released an initial amount of 2.6 lacs as per the release...[Read]

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