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Citibank Home Loan India
|Citibank Home loan India provide housing finance options to both resident and non-resident Indians from Rs 2.1 Lakh-Rs 5 Crore and provides a repayment term that lasts up to 25 years. Citibank India offers lucrative housing loan schemes thereby providing all feasible support to the common man in order to make his dream of owning a home come true. Citibank in India due to its beneficial and attractive home loan schemes is enormously favored among various other home finance providers in the country.
Citibank India is a leading housing finance lender and provides numerous finance options to choose from. The bank has been active in India since the beginning of the 20th Century. The Citibank India home loan interest rates are very attractive and competitive in comparison with rest of the private and public banks and financial institutions providing housing finance in India. Citibank provides home loans to both the new and its existing customers. The home loan interest provided by Citibank India is charged on the basis of the daily reducing balance pattern.
Some of the salient points of Citibank India home loan are as under:
- You have the facility to access your home loan account online on Citibank India website.
- Convenient home loan repayment options through ECS(Electronic Clearing System) or Standing Instruction or even through the post-dated cheques.
- Home finance repayment period up to 25 years.
- Enticing rate of interest offered on Citibank Home mortgage and the interest rate is calculated on the basis of daily reducing balance system.
- Facility to pay the interest amount all along the construction time.
- Housing finance offered to a limit of Rs 5 Crore and the loans cover up to 80% of the total cost of the property.
- Citibank home loans are offered for buying an under-construction property, already existing property, purchasing a plot and constructing the house after wards.
- There is also the facility to transfer your existing home loan availed from any other bank or financial institution to Citibank Home loan. In case you opt for Citibank home loan transfer scheme you can avail the loan up to a limit of Rs 2 Crore and the loan so acquired can be re-payed over a period of up to 20 years and you can utilize the additional amount to refurbish your home.
- One is not required to cough up any amount towards penalty for incomplete prepayment.
- You can also include the income of your better half in order to avail a higher amount of loan.
Citibank lays down certain essential requirements for customers seeking to avail the home loan from the bank:
- The loan applicant can also avail the facility of term insurance cover to guard your loved ones.
- Citibank provides 24x7 assistance to its customers to entertain their queries related to the banking and other financial products and services offered by the bank.
- Duly filled up home loan application form.
- Signature authentication and birth proof for every person.
- All the self-employed individuals like doctors, lawyers and people involved in other kinds of businesses have to furnish the details of the whereabouts of their business address.
- Identity proof for all the loan borrowers.
- Residential address proof along with the photographs of all the individuals applying for Citibank Home loan.
Types Of Citibank home loans in India:
Citibank provides a variety of home finance options to choose from, a few of them are as follows:
- Bridge loans - This type of loan is availed if you wish to sell off your existing home to buy a new one and bridges the gap until you sell your existing home.
- Land Purchase loan - This type of loan can be availed if you wish to purchase a plot or land to construct your home thereon.
- Home Construction Loan - One can avail this loan build a home.
- Home Extension Loan - This type of loan can be availed to make further improvement in your home.
- Home Purchase Loan - This is a loan that can be availed if you wish to buy an existing house.
Citibank India home loan application:
Citibank provides various ways by which you can apply for the home loan facility offered by the bank. You can apply for the home loan online and can also maintain your home loan account online itself. The online facility comes along with certain other benefits like - you can view the condition of the post-dated cheques, you can also get the interest certificate online and even the home loan repayment details. Citibank has a widespread network of branches all over the country, so you can go to the nearest Citibank branch and acquire the desired information along with the Citibank home loan application form and go ahead.
Citibank India Home Loan Interest Rate:
Citibank India home loan interest rates are easy and competitive and the bank decides upon the rate of interest on the basis of the market condition. The amount of the interest rate charged by the bank is the applicable rate during the time of the loan agreement. The interest is charged according to the daily reducing balance. The floating rate of interest charged by the bank is connected to the CMPR(Citibank Mortgage Prime Rate) and in case the interest rate is change according to the market movements the loan borrower is informed and reminded about the revised rate of interest applicable on their loan scheme.
Application Fee - The application fee applicable on the loan ranges up to 1% of the amount of the loan. The application fee is secured irrespective of whether your finance has been sanctioned or not and the amount of application fee is non-refundable no matter what. The payments are to be made via a cheque or a draft favoring "Citibank, N.A. Application Fee Account".
Booking Fee - The amount charged towards the loan booking fee is up to 1% of the amount of loan sanctioned and is collected together with other documents pertaining to the loans.
Citibank EMI calculator:
Citibank EMI calculator is a pretty significant online tool that can be availed by the potential Citibank home loan customers to ascertain the amount of loan they will have to pay off towards Equated Monthly Installment in order to repay their home loan. Citibank Home loan EMI calculator is available on Citibank India website. The loan applicant has to fill in the following important details:
After entering all the relevant details all you are required to do is click on the 'Calculate' button on the online calculator and get the desired results and in case you are not satisfied with the amount of EMI that comes out you can always reset the calculator and change the determinants like - interest rate, loan tenure etc. and compute the prospective EMI amount.
- Loan Amount - The total amount of loan you seek to borrow.
- Interest rate - You are required to opt for an applicable rate of interest on the basis of which your EMI amount will be decided.
- Loan Tenure - You have to select the number of years for which you want to borrow the loan.
Citibank Eligibility Calculator:
Citibank Eligibility Calculator provides the home loan seeker with an opportunity to compute his/her capacity to avail the home loan of a particular amount. The Citibank Home loan Eligibility calculator is available on the Citibank India website. One is required to furnish certain key details in order to use this online eligibility calculator:
After you have mentioned all these details, you have to just click on the 'Tell Me' button of the eligibility calculator and the you will get the response whether you are eligible to avail that home loan or not.
- Gross monthly income - The loan applicant is required to mention the amount of his/her total monthly income.
- Interest rate - The home loan seeker has to mention the rate of interest he/she goes for in order to avail the home loan.
- Loan Tenure - Here you have to mention the duration of the period you wish to avail the loan for in terms of year(s).
Citibank India Customer Care:
Citibank provides a top-level customer service to its customers and provides various channels to the customers to get in touch with the bank. Citibank India provides a 24x7 customer care service to entertain all the queries, problems faced by the existing and potential customers regarding the various banking and financial services offered by Citibank. The bank has dedicated toll free numbers in order to cater to the customers based in different cities of the country. Apart from having its centers at metropolitan cities like - Delhi, Bangalore, Kolkata, Chennai, Hyderabad, Pune etc. the bank has also established various centers in other cities/towns of India. You can avail all the information on all the banking services offered by the bank through the phone banking facility by getting in touch with the customer care executives. Following are the city based numbers of the Customer care centers of the bank:
Gurgaon (Delhi): 254 2484
Chennai: 2852 2484
Bangalore: 2227 2484
Mumbai: 2823 2484
Kolkata: 2283 2484
Hyderabad: 6666 2484
For more on Citibank India Home loan and other products offered by the bank you can either call on the below mentioned toll free number or log on to the website: www.citibank.co.in
Toll free number: 1-600-220123