20,00,000 people visited this section in last 30 days. Apply Online

Get Cashback of Upto ₹ 1,000* on Home Loan Apply Online

MyLoanCare Customer Ratings - 4.5/5.0 Apply Online

Citibank Home Loan Eligibility Calculator

Citibank Home Loan Eligibility in India 2021

Last Updated 08th Jun 2021

Eligibility CriteriaCitibank Home Loan
Eligible Age of Borrower23 - 60 years
Work Experience for Salaried2 years
Business Stability for Self Employed2 years
  • Citibank home loan eligibility is dependent on factors like your age, income, property value and repayment capacity.
  • Citibank calculates the amount of home loan you are eligible for using a formula that includes your net take home salary, the EMIs you have to pay and the value of property.
  • You can increase your eligibility to get a housing loan from Citibank by adding earning family members as co-applicants or by applying for a longer tenure loan.
Home Loan Eligibility Calculator

Citibank Home Loan Eligibility

Citibank offers various home loan schemes and offers at affordable rates to eligible customers whether salaried or self-employed. Citibank housing loan eligibility is based on factors like age, salary, occupation, property type and credit score. Detailed information on these factors is mentioned in the further sections.

Citibank Home Loan Eligibility based on Age

  • Age: Your age plays an important role in determining your eligibility and repayment capacity for home loan. Lower your age, higher will be the time period available to repay the loan, and hence higher home loan amount eligibility. The minimum age limit to get Citibank home loan is 23 years at the time of loan commencement and maximum age limit is 60 years. Citibank offers home loans for a maximum period of 30 Years subject to the condition that the borrower’s age at the end of the tenure must not exceed 60 of tenure.

Citibank Home Loan Eligibility based on Salary

  • Net income: Your net monthly income determines how much Citibank home loan EMI you are capable of paying after meeting all the living expenses based on your standard of living. For instance, if your salary is ₹ 25,000 then at interest rate of 6.75% offered by Citibank, the loan amount that you will be eligible for would be ₹ 26,24,381 to ₹ 43,82,057 depending on your age. Similarly, if your salary is ₹ 75,000, you might get eligible for a loan amount of ₹ 52,48,762 to ₹ 87,64,114 for the same property at the same rate depending on your age at the time of loan application. However, Citibank asks for a net monthly income of ₹ 0 to avail a home loan.
Age Net Monthly Income (₹)
25,000 50,000 75,000
25 years43.82 Lakh65.73 Lakh87.64 Lakh
30 years43.82 Lakh65.73 Lakh87.64 Lakh
35 years43.82 Lakh65.73 Lakh87.64 Lakh
40 years39.77 Lakh59.65 Lakh79.53 Lakh
45 years34.12 Lakh51.17 Lakh68.23 Lakh
50 years26.24 Lakh39.37 Lakh52.49 Lakh

You may consider repaying any loans with short tenure and high EMI in order to increase your Citibank home loan eligibility.

  • Nature of employment: Citibank will check whether you are salaried or self-employed and the company and sector in which you are working. It also looks at your years of experience to check for job and income stability. Citibank requires minimum income history and job stability of more than 2 years for salaried individuals and of 2 years for self-employed individuals.

Home Loan Eligibility Citibank based on Value of Property

  • Value of property: Citibank does not finance the entire property value.
  • Property documents: Your property’s legal documents should be satisfactory and be cleared by the Citibank's legal team.

The housing loan eligibility calculator of Citibank can be a useful tool to assess your eligibility for the loan.

Minimum CIBIL Score for Citibank Home Loan

  • CIBIL Score: Citibank considers credit score as a barometer to gauge your past credit behaviour and hence, CIBIL score becomes the most important factor to define your eligibility to get a home loan. Higher credit score increases your chances to get loan approval from Citibank However, low CIBIL score reduces your chances to get a home loan. Citibank requires a minimum credit score of 650 to be eligible for a home loan.

Citibank Housing Loan Eligibility Calculator based on FOIR

FOIR (Fixed Obligation to Income Ratio) is an important parameter used by Citibank to determine your home loan eligibility. Citibank considers all your fixed obligations like current EMIs into account while estimating your eligibility. Minimum FOIR required to be eligible for Citibank home loan is 0.60. Calculate your eligibility with Citibank home loan calculator and apply for eligible loan amount hassle free.

Citibank Home Loan for Women Eligibility

Citibank offers the same rates to women borrowers starting at 6.75% with similar eligibility criteria for home loan. In case of a joint home loan, the woman borrower also needs to be the co-owner of the property and should have a good credit history to get the joint home loan application passed for concessional rates.

How can I Check my Citibank Home Loan Eligibility ?

To check Citibank home loan eligibility perform the following steps:-

  • Go to the Citibank website
  • Now navigate to the option Citibank home loan
  • To check eligibility criteria use a home loan eligibility calculator.
  • Fill the required details like loan amount required, salary, age etc.

Also you can contact the bank by calling on their customer care number 1860-210-2484.

Citibank Home Loan Schemes Eligibility

Citibank Home Credit Loan

  • Salaried, professional, self employed individuals.
  • A clean track record with not more than 3 dues pending for 90 days and above

Other Loan Calculators

FAQs

What is the criteria to get Citibank home loan?

The basic criteria to get a home loan from Citibank are as following:

Age23 - 60 years
Income ₹ 0
Income3 years for salaried, 5 years for self-employed
Credit score650 and above

How much home loan can I get on my salary from Citibank?

The amount for which you are eligible is calculated based on the FOIR and LTV. The higher your income, and the least is your fixed obligations (mostly ongoing EMIs), the higher will be your eligibility for a home loan.

What is the minimum salary to get home loan from Citibank?

The minimum salary required to avail home loan from Citibank is ₹ 0.for salaried borrowers. The income criteria for self employed professionals or businessmen may vary in Citibank.

Is Citibank good for home loan?

The lowest interest rate provided by Citibank is 6.65% which is a best rate in the market. There are no prepayment charges on floating rate based home loan. Hence, you can consider this as a good option for housing loan.

Does adding a co-applicant increase housing loan eligibility?

Yes, adding a co-applicant with an independent income source increases housing loan eligibility significantly. By doing so you will be able to get a higher loan amount and also both of you can save on taxes under Income Tax Act.

Notification ×
  • Home Loan

    Home Loan at all-time low rates starting at 9.35%. Cashback of up to ₹ 1,000.

    Apply Now
  • Personal Loan

    Instant Personal Loan starting at 10.25% with Cashback of up to ₹ 1,000 .

    Check Offers
  • Gold Loan

    Instant Gold Loan starting at 9.50% with Cashback of up to ₹ 500

    Apply Now
  • Loan Against Property

    Best Loan Against Property Offers starting @ 7.20%. Cashback of up to ₹ 1,000*.

    Apply Now
  • Business Loan

    Collateral Free Business Loan Rates starting at 14.00% with Overdraft facility.

    Apply Now
  • Fixed Deposit

    AAA rated FDs with returns as high as 6.95%.

    Invest Now
Citibank Home Loan News - Jun 2021
  • 2021-04-06 : Citi Bank cut its home loan rates to 6.65%
    With effect from 6 April, Citi Bank revised its home loan rates. The new home loan rate starts from 6.65%.
  • 2020-07-09 : Citi Bank revised its home loan rates
    Citi Bank revised its home loan rates. The new home loan rate starts at 7.5%.
  • 2020-06-01 : Citi Bank revised its home loan rates
    Citi bank revised its home loan rates. The revised home loan rate is 7.75%. New home loan rates will be effective from June 1 2020.
  • 2020-01-10 : Citi Bank revised home loan interest rate
    Citi Bank cut its home loan interest rate to 8.20% which was earlier set 8.50%. The revised Home credit loan stands at 8.30% and Home loan top-up rate is 8.45%. The revised rates are in effect from 10 January 2020.
  • 2019-07-09 : Citibank lowers MCLR rates by 10 basis points
    Citibank has cut its Marginal Cost of Funds Based Lending Rate (MCLR) by 10 basis points. The move is supposed to make customer loans like home loans and mortgage loans cheaper. For six-months and one-year tenure, the rate has been revised to 8.65% and 8.60% from the earlier rate of 8.75% and 8.70% respectively while for one-month and three-months the rate has been revised to 8.55% and 8.65% respectively which is also down by 10 bsp. The revised rates are effective from July 7, 2019.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
Loader
Please wait while your information is being processed...