Citibank Loan Against Property

Buying a house is the most exciting moments of an individual's life. This involves a lot of planning and hard work. Right from choosing the perfect home loans to an exciting interest rate, you are left exhausted in the end. On top of it, if at sometime of your life you feel you need a loan again, the same old tiring process again seems to haunt you. That is why, Citibank has come out with an innovative plan called the Citibank loan against property. The LAP or the Loan against property offers loans against your existing house, flat or an apartment. You can continue staying at the same place and avail loan against the same.

This is when you realize the actual value of your house. Citibank loan against property is also called Citifinancial Equity Loans. The extra amount funded by the bank can be put to use for a variety of purposes such as higher education for your child, organizing a lavish wedding, planning out a vacation abroad, refinancing an existing loan, investing in to another property and so on. Citifinancial equity loans ensures that all your dreams are fulfilled and that it is why it offers loan against property so that you get the required money for spending it the way you want.

Citibank provides up to 60% of the market value of the property. This property can either be residential or commercial. The loan tenure given by the bank is of a period of 15 years. This tenure makes the repayment of the loan comfortable. It does not set any rigid rules and regulations on the customer. The only thing the bank does is, makes sure that you are able to afford the rate of interest that you opt. For this, you will have to provide your proof of income, financial statements and all other necessary documents.

You will have to fill up the Citibank loan against property application form in order to be eligible for the same. The application form can be filled up online on their website or can be acquired after contacting the bank personally. The bank offers anywhere between Rs 2 lakhs to Rs 2 crore as loan against property or 60% of the value of the property.

For more details on Citibank loan against property, you can log on to their official website: www.citibank.com .