Citibank Home Loan Interest Rate Calculator - Dec 2016

Citibank Home Loan Interest Rates

Last Updated 07th Dec 2016
7th Dec 2016 - RBI keeps interest rates unchanged. Repo rate stays at 6.25%. CRR at 4%. 100% CRR on fresh deposits withdrawn
Interest Rate 9.30% - 10.05%
Check Special Offers
Lowest EMI Rs. 860 per lakh
Max Tenure 25 years
Processing Fee Upto 0.50%
Prepayment, Foreclosure Charges Allowed with nil charges for floating rate loans
Age Min 23 and Max 60 years for Salaried
Min 23 and Max 65 years for Self Employed
Apply Home Loan Online
 Salaried   Self Employed - Professional   Self Employed - Business 





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Citibank Home Loan

Citibank offers home loan to the people who want money to purchase a house, home renovation and home extension etc. The house itself acts as a security to the loan. There are some features of taking home loan from Citibank:
  • Home credit OD facility
  • High eligibility
  • Nil prepayment charges on floating rates

Home Loan Citibank

Home loan interest rates offered by Citibank depends upon MCLR.
  • Floating rates changes with a single change in MCLR rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates.
Citibank offers home loan based on 3 Month MCLR rates which is currently 8.30%.
Citibank home loan interest rate depends upon
  • Loan amount: Home loan rate in Citibank depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate
  • Company where you work: Citibank has a list of companies to which they lend Home loan. Interest rate will be less if your company is listed
  • Your Salary: Income helps you in identifying your rate of interest. Citibank interest rate varies with your monthly income. Higher the income, less will the rate of interest

Home Loan Charges

  • Foreclosure Charges - These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. Citibank allows prepayment of home loan with Nil prepayment charges
  • Processing Fee - Citibank asks for a processing fee of 0.50% of loan amount with applicable service tax

Citibank Home Loan EMI Calculator

    Home Loan EMI of Citibank is a fixed amount that you pay each month towards the repayment of your home loan till the end of tenure
  • Home Loan EMI calculator of Citibank helps you to calculate your monthly EMI at different rate of interest and also check lowest EMI per lakh on home loan.
  • You can plan your loan amount according to your monthly repayment capacity because higher the loan amount, higher will be the EMI
  • Rate of interest is an important factor which affects your EMI. Higher the interest rate, higher will be the EMI
  • Loan tenure matters equally as higher tenure reduces your EMI
What are the benefits of calculating Citibank Home Loan EMI?
  • EMI calculator of Citibank helps you to calculate your monthly EMI at different rate of interest
  • Citibank Housing Loan EMI calculator helps you to know your capacity to repay the loan after maintaining your standard of living
  • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly

Citibank Home Loan Eligibility Calculator

Home Loan eligibility criteria Citibank
Eligibility of House loan in Citibank relies upon different factors but the most important factor is your ability to repay the loan. The main factors on which the eligibility of an applicant depends are
  • Age: Age plays an important role to know your eligibility and repayment capacity. Citibank offers Home loan to salaried at the age of 23 to 60 years and self employed individuals at 23 to 65 years
  • Income: In case of salaried person, Citibank Loan eligibility significantly depends upon the income. Usually bank set minimum levels of income to apply for house loan. Salaried employee should be in government job or working with a reputed private company and getting regular salary in bank account with salary slip, form 16
  • Job stability and Profession: Job stability is important to improve your status and eligibility for Home loan from Citibank. In case you are salaried, you must be in a full time job for at least 2 months. In case you are self-employed, you must be in current profession or business for at least 2 years and should preferably own either your office or your place of residence. Minimum turnover and minimum net income criteria may apply. Business must be registered with at least one government agency such as service tax, VAT, excise, shops and establishment registrar. Other than job stability, profession is also an important factor which can affect your Citibank eligibility. If you are working with a reputed company, probability of getting home loan from Citibank increases as the income is considered to be more stable
  • CIBIL Score: Your past CIBIL history and repayment record of existing loans and credit cards has direct impact on your Home loan eligibility. If you have a poor repayment record, then you may not get the loan but on the other side, a regular repayment record increases your Home loan eligibility
  • Loan Amount: Citibank gives you Home loan depending upon your income. Citibank gives you an amount ranging from Rs. 500,000 to Rs. 100,000,000. To improve chances of approval, apply for a loan amount that you can comfortably service
  • Estimated eligibility online by using Eligibility Calculator.

    Citibank Floating Rate Home Loans

    Citibank Home Loan Floating
    Upto Rs. 2,800,000 - 9.30%
    Rs. 2,800,001 - 7,500,000 - 9.50%
    Rs. 7,500,001 - 15,000,000 - 9.50%
    Above Rs. 15,000,000 - 9.50% linked to 3 Month MCLR

    Citibank Home Loan Top up, Transfer

    Transfer of Home Loan from another bank to Citibank?
    Citibank offers home loan balance transfer from another bank. This is subject to your meeting other eligibility criteria of Citibank
    You can avail additional top-up home loan from Citibank, subject to your eligibility

    Housing Loan Citibank documents required

    Home Loan for Salaried employee Citibank documents required

    • Filled up loan application form
    • 2 Passport Size Photo
    • ITR of last 2 years
    • Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit

    Home Loan for Self-Employed Citibank documents required

    • Filled up loan application form
    • 2 Passport Size Photo
    • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
    • ITR of last 3 years
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile

    Frequently Asked Questions

    Why to take home loan from Citibank?
    Citibank offers home loan at lower rate of interest i.e. at 9.30% with the lowest EMI of Rs. 860 per lakh. If you are paying EMI more than this then you can opt for balance transfer and relocate your home loan to Citibank.
    What is the maximum loan tenure I can opt under Citibank house loan?
    Citibank offers you a longer tenure of 25 years to repay your home loan with a benefit of paying less EMI per month.
    Do I get tax benefit on home loan from Citibank?
    As per Indian Income Tax Act of 1961, residents of India are eligible for tax benefits on principal amount and interest components of a home loan under the section 24 and section 80C of Income Tax Act.
    Can I foreclosure my home loan? What are the charges applicable?
    Yes, you can foreclose your home loan with Nil charges.
    Can I transfer my home loan from another bank to Citibank?
    Yes, Citibank gives you the facility to transfer your existing home loan with a hassle free process. Home loan balance transfer to Citibank offers you to pay lower EMIs and save money.
    Can I club the income of my spouse with mine and apply for joint home loan?
    You can club the income of your spouse to increase your loan eligibility if the spouse is co-owner of the property or guarantor of the loan.
    What is the benchmark applicable for home loan in Citibank?
    The benchmark applicable for home loan in Citibank is 3 Month MCLR.
    What is the effect of part payments on Citibank housing loan EMI ?
    Part payments help you in reducing the outstanding amount of loan which in turn will reduce the interest amount due. After making part payments, paying the same EMI will increase your involvement towards the principal amount which will help you in repaying the loan faster.
    How to increase my eligibility on Citibank housing loan?
    If your spouse or family member is earning well, you can make your spouse or family member the co-applicant for your loan. The combination of both of your income will help you in increasing your eligibility to get loan.
    How will interest rate on Citibank housing loan change in future?
    • Floating interest rate on Citibank housing loan is linked to its 3 Month MCLR Rate, which is currently at 8.30%. So, when Citibank offers a home loan at 9.30%, it applies a premium of 1% to its MCLR Rate to arrive at this home loan interest rate.
    • When RBI increases interest rates, the bank may increase its MCLR rate and the applicable interest rate for all existing and new home loans would increase. When RBI cuts interest rates and the bank reduces the MCLR rate, the benefit of lower rates will have to be passed to both old borrowers and new house loan accounts.

    Citibank Home Loan in India

    Citibank Home Loan Customer Care Number, Email, Application Status, Branches

    City Customer Care Number
    Vijaywada 040-66662484
    Varanasi 0522-2201022
    Vadodara 079-26422484
    Udaipur 1800-180-2484
    Trichy 044-28522484
    Surat 0261-6532484
    Sonepat 0124-254 2484
    Shimla 1800-180-2484
    Salem 044-28522484
    Roorkee 1800-180-2484
    Rohtak 0124-254 2484
    Ranchi 1800-180-2484
    Rajkot 0261-6532484
    Raipur 1800-180-2484
    Pune 020-66012484
    Pondicherry 044-28522484
    Patna 1800-180-2484
    Panipat 0124-254 2484
    Noida Extn. 0124-254 2484
    Noida 0124-254 2484
    Nashik 1800-180-2484
    Nagpur 1800-180-2484
    Mussoorie 1860-425-7000
    Mumbai 022-28232484
    Mohali Sas Nagar 0172-5082484
    Mehsana 079-26422484
    Meerut 1800-180-2484
    Madurai 044-28522484
    Ludhiana 0161-5012484
    Lucknow 0522-2201022
    Kozhikode 1800-180-2484
    Kota 0141-2372484
    Kolkata 033-22832484
    Kolhapur 022-28232484
    Karnal 0124-254 2484
    Kanpur 1800-180-2484
    Jodhpur 0141-2372484
    Jalandhar 0181-5062484
    Jaipur 0141-2372484
    Jabalpur 1800-180-2484
    Indore 1800-180-2484
    Hyderabad 040-66662484
    Gwalior 1800-180-2484
    Guwahati 1800-180-2484
    Gurgaon 0124-254 2484
    Greater Noida 0124-254 2484
    Goa 022-28232484
    Ghaziabad 0124-254 2484
    Gandhinagar 079-26422484
    Faridabad 0124-254 2484
    Durg 1800-180-2484
    Delhi 0124-254 2484
    Dehradun 1860-425-7000
    Coimbatore 044-28522484
    Cochin 0484-4042484, 6602484
    Chennai 044-28522484
    Chandigarh 0172-5082484
    Bikaner 0141-2372484
    Bhubaneswar Cuttack 1800-180-2484
    Bhopal 1800-180-2484
    Bhiwadi 0141-2372484
    Bhilwara 0141-2372484
    Bhilai 1800-180-2484
    Bangalore 080-22272484
    Aurangabad 0240-6632484
    Anand 079-26422484
    Ambala 0124-254 2484
    Ahmedabad 079-26422484
    Agra 1800-180-2484
    Vizag 1800-180-2484
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Citibank Home Loan Interest Rate News - Dec 2016
28th Nov 16 Citibank temporarily waives off debit card fees for merchants
Citibank India announced temporary suspension of merchant discount rate (MDR) on all domestic debit card transactions. The suspension is effective from 26th November, 2016 to 31st December, 2016.
11th Nov 16 Citibank launches digital wallet app Citi Pay
Citibank unveiled a digital wallet application Citi Pay for customers to make seamless payments. Customers can load their credit card and debit card and make payments directly from their smart phones. Shoppers can use the app for making in-store -purchases at any store equipped with point of sale registers supporting NFC technology and can make payments without swiping their cards.
19th Aug 16 Citi Bank India focuses on instant loans to grow retail book
Citibank India is working on instant disbursal of loans to cross-sell at a fast pace and expand its retail book. Citibank has launched instant personal loans, instant mortgage loan and instant credit cards for existing customers in the previous six to eight months. Citibank have been increasingly looking at online disbursal of loans and have been moving the entire process online. An online mortgage loan is available for pre-approved properties only. The initial response to Citibank online initiatives has been promising.
12th Jul 16 Citibank India PAT falls 5.5% to Rs 3,233 crore for Q1FY16
Citi Bank India, reported a decline of 5.5percent in its Net Profit to Rs 3,233 crore for Q1FY16, as compared to previous year. The bank Net Interest Income increased by 10 percent year on year. As on March 31, 2016, its total assets stood at Rs 1,54,117 crore with a fairly high asset quality at a Net NPA ratio of 0.5 percent.
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