Citibank Home Loan Interest Rate Calculator - Oct 2016

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Citibank Home Loan Interest Rates

Last Updated 18th Oct 16

Citibank Home Loan Interest Rate 9.3%
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 Citibank 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

Citibank home loan interest rate is the rate which you pay over the loan amount that you have borrowed from the bank. 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 8.35%.
Citibank home loan interest rate depends upon
  • Citibank home 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

Citibank Home Loan Charges

  • Citibank Home Loan 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
  • Citibank home loan EMI calculator 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 Home Loan helps you to calculate your monthly EMI at different rate of interest
  • Citibank Home 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 Home 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 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 Citibank Home Loan Eligibility Calculator.

    Citibank Floating Rate Home Loans

    Citibank Home Loan Floating
    Upto Rs. 2,800,000 - 9.3%
    Rs. 2,800,001 - 7,500,000 - 9.5%
    Rs. 7,500,001 - 15,000,000 - 9.5%
    Above Rs. 15,000,000 - 9.5% 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 2 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 – Citibank Home Loan

    Why to take home loan from Citibank?
    Citibank offers home loan at lower rate of interest i.e. at % with the lowest EMI of Rs. 860 per lakh which is lesser than other banks. 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 home 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.
    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 home loan is linked to its MCLR Rate, which is currently at 8.35%. So, when Citibank offers a home loan at 8.35%, it applies a 0.95 premium 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.
    *My Finance Care Advisors Pvt. Ltd., or is a bank neutral multi bank platform that helps borrowers and bank customers compare loans and deposits of all banks in India at one place. Information carried at this website is based on perusal of public sources and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not assure as to the correctness of information carried at the website. Lenders/ banks/ other parties may contact us at to provide corrections or updates. We may act as and/ or be associated with channel partners of banks and other sellers of financial products.
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Citibank Home Loan Interest Rate News - Oct 2016
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.