Citibank Home Loan Interest Rates 2021
Citibank Housing Loan Interest Rate
Current Citibank Home loan interest rates for Apr 2021 starts at 6.65% p.a. for a maximum tenure of 25 years. Processing fee on its housing loans is NIL.
Loan Amount | CItibank T-Bill Home Loan Rate | Rate for Female Borrower | TBLR Linked Home Credit | CItibank T-Bill Home Loan Rate ![]() |
---|---|---|---|---|
Upto ₹ 50 Lakh | 6.65% | N/A | 6.85% | |
₹ 50 Lakh - ₹ 75 Lakh | 6.65% | N/A | 6.85% | |
₹ 75 Lakh - ₹ 1.50 Cr | 6.65% | N/A | 6.85% | |
Above ₹ 1.50 Cr | 6.65% | N/A | 6.85% |
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Citibank Home Loan Interest Rates
Citibank offers various products on home loan. Citibank home loan can be used for the purchase of a flat, home construction loan, extension or improvement loan.
Features
- Citibank Home Loan Interest Rate starts from 6.65%.
- Citibank charges a processing fees of NIL.
- Loan Tenure of Home Loan ranges from 5 years to 25 years.
- Lowest EMI per lakh on home Loan from Citibank is ₹ 685 per lakh offered at the lowest interest rate of 6.65% at the longest loan tenure of 25 years.
- Citibank allows prepayment of home loans with Nil charges on floating rate loans.
- Citibank has an average customer rating of 4.1/5.0 from customers who have taken a home loan from the bank.
Citibank Home Loan Rate
Current Citibank home loan interest rates are in the range of 6.65% to 6.65%, with special discounted rates for specific categories of borrowers such as women borrowers for whom the bank offers the lowest interest rate of 6.65%. The table below gives the interest rates on various housing finance schemes of Citibank.
Citibank Home Loan Scheme | Interest Rates |
---|---|
CItibank T-Bill Home Loan | 6.65% |
Citibank Home Loan Top Up | 6.70% |
Factors affecting Citibank Home loan interest rates Citibank interest rate is dependent upon a variety of factors. The Important ones are mentioned below:
- Repo Rate: Repo rate is a monetary tool used by RBI to control inflation. Currently, the repo rate stands at % Any change in repo rate will change the RLLR and will translate into a similar change in the bank’s home finance rate.
- Loan amount: Citibank home loan rate depends upon the loan amount you apply for.
- Occupation: Citibank offers lower rate for salaried borrowers as compared to self employed borrowers.
- Salary: Income helps in identifying the amount of loan that you can be eligible for. Bank's rate varies with your monthly income. Higher the income, lesser will be the rate as higher will be the loan amount.
- Gender: Citibank also offers discounted or special rates for women borrowers to ensure that women own a house and become financially independent. If you are planning to take a loan, adding a women co-applicant can help you get the lowest rates from Citibank.
- Type of loan: Citibank runs several special schemes for its borrowers. So for example if you opt for an overdraft scheme or a plot loan, you may required to pay a higher rate of interest vis-à-vis its regular home loan scheme.
- Existing customers: Citibank offers lower home loan rates to its existing bank account customers as compared to new bank customers, as it understands the past banking history of the customer and hence, is comfortable in sanctioning loans.
Compare Details of Banks (Function)
Citibank offers multiple home loan schemes at affordable interest rates. However, you must analyze multiple banks and their offers before applying for a home loan.
Particulars | Citibank | SBI | HDFC |
Interest Rate | 6.65% - 6.65% | 6.95% - 7.25% | 6.70% - 7.40% |
Processing Fees | NIL | Min ₹ 10,000 | Min ₹ 3,000 |
Loan Tenure | 25 Years | 30 Years | 30 Years |
Maximum Loan Amount | ₹ 5 Cr | ₹ 7 Cr | ₹ 5 Cr |
Age | 23 - 65 Years | 18 - 70 Years | 24 - 65 Years |
Benchmark Rate | TBLR | RLLR | PLR |
Lowest EMI Per Lakh | ₹ 685 per lakh | ₹ 662 per lakh | ₹ 645 per lakh |
Citibank Home Loan Charges
Citibank Home Loan Processing Fee
The bank charges a minimum processing of ₹ 3,000. The processing fees is typically non-refundable and has to be paid at the time of loan application. In addition to Citibank housing loan processing fees, the bank also charges certain technical and legal charges which are explained to the customer during the loan process and are payable once the loan application proceeds further.
Citibank Home Loan Documents
Documents for Salaried employees
- 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
- Property Documents - Past title chain: Conveyance deed, Sales deed, Allotment letter, Possession letter, Latest property tax receipt, Copy of approved plan for construction/ extension
Documents for Self-Employed
- Filled up loan application form
- 2 Passport Size Photo
- Identity Proof - Passport/ Driving License/ Voter ID/ PAN
- 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
- Property Documents - Past title chain: Conveyance deed, Sales deed, Allotment letter, Possession letter, Latest property tax receipt, Copy of approved plan for construction/ extension
Home Loan Citibank Schemes
Citibank offers customized schemes for specific customer segments designed to meet their loan requirements. Some of the popular products with their basic features are as follows:
Citibank T- Bill Home Loan Scheme
- Under this scheme, floating rate home loans are benchmarked to Government T-Bill rate. Any change in the T- Bill rate on the reset date will result in a change in home loan interest rate for existing borrowers without any delay.
- Home Loan Borrowers get an option to choose between a 91 days T-Bill linked Home Loan or a MCLR linked Home Loan.
- Completely transparent loan pricing, as loan rates are revised as per changes in an external benchmark rate and not dependent on internal benchmark rate of the bank.
- The home loan rates will be revised as per the change in T-Bill rates on the date of reset, without any delay. For instance, If the 91 days T-Bills rates go down by 0.5% on the date of reset, home loan interest rate will also decline by 0.5%, leaving no scope for subjectivity as is the case in MCLR linked loans.
- Home loan available at the age of 23 - 60 years
- Loan amount that you can borrow ranges from ₹ 50 Lakh to ₹ 10 Cr
- Option to apply for a maximum ltv of 80% of value of the property
- Housing loan for a maximum period of 25 years
Citibank Home Loan Semi Fixed
- The bank's semi fixed home loan scheme offers a combination of fixed and floating rates to its home loan borrower. Under this scheme, borrowers can avail a loan at fixed rates for the 1st year of the loan.
- The rates will remain fixed for 1 year and will convert to floating rates after completion of fixed period.
- Your EMIs remain constant for first year allowing to manage your monthly obligations and interest rate risk.
- Home loan available at the age of 23 - 60 years
- Loan amount that you can borrow ranges from ₹ 35 Lakh to ₹ 0 Cr
- Option to apply for a maximum ltv of 80% of value of the property
- Housing loan for a maximum period of 30 years
Citibank Home Credit Loan
- Home Loan Credit is an home loan overdraft scheme which allows the borrowers to deposit their surplus savings for any period in the overdraft account and reduce overall interest outgo on their housing loan.
- Extremely attractive loan for self employed, businessmen, professionals with uneven flow of income throughout the year. Also suitable for salaried borrowers who expect to receive year end bonuses.
- Option to choose from two home loan credit schemes. First is Home Credit Vanilla option which allows the borrower minimise his interest outgo and maintain liquidity. The second variant Home Credit Fast Track scheme allows the borrower to repay his home loan quickly and also reduce his interest payments.
- Home loan available at the age of 23 - 60 years
- Loan amount that you can borrow ranges from ₹ 35 Lakh to ₹ 0 Cr
- Option to apply for a maximum ltv of 80% of value of the property
- Housing loan for a maximum period of 25 years
Citibank Pradhan Mantri Awas Yojana
The government of India has launched many affordable housing loan schemes to facilitate availing home loan at concessional rates to lower and middle-income groups. Some of the popular schemes are:
a) PMAY or Home Loan Subsidy Scheme: Launched in 2015 to provide houses to the homeless. You can apply for PMAY at Citibank if you fulfil the eligibility criteria. Know more about PMAY Scheme
b) Pradhan Mantri Gramin Awas Yojana: It focuses on homeless families and offers pucca houses with basic amenities.
c) DDA Housing Scheme: It aims to provide houses to low, middle, and high-income groups.
d) Tamil Nadu Housing Board Scheme: It started in 1961 to provide houses to varied income groups.
e) Mhada Lottery Scheme: It's a lottery scheme launched every year for buyers of varied income groups.
f) Rajiv Awas Yojana: Launched in 2009 with the aim of bringing illegal construction under the formal system and encouraging slum-free India.
Each of these schemes has its conditions with respect to eligibility, the amount of loan that can be borrowed, and the rate of interest.
Maximum Annual Percentage Rate (APR) | 6.65% to 6.65% |
Representative example of the total cost of the loan, including all applicable fees | Here is an illustration of the total cost of the loan:
|
FAQs
✅What is Citibank Home Loan interest rate?
Citibank Home Loan interest rate ranges between 6.65% to 6.65%.
✅Why should I opt for balance transfer to Citibank?
Citibank offers competitive Home Loan rates with the best EMI of ₹ 685 per lakh availed at a low-interest rate of 6.65% for a maximum tenure of 25 years. If you are paying an EMI more than ₹ 685 per lakh, you should consider the option for a loan transfer to Citibank from your existing bank. EMIs can be calculated through Citibank Home Loan EMI calculators.
✅Do I get tax benefits on a Home Loan from Citibank?
As per the Indian Income Tax Act of 1961, residents of India are eligible for tax benefits on the principal amount and interest components of a house finance under section 24 and section 80C of Income Tax Act.
✅What is the effect of part prepayments on Citibank housing finance EMI ?
Part prepayments 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 Home Loan 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 a loan.
✅What is the current Citibank Home Loan rate?
The current Citibank Home Loan rate starts from 6.65% with a processing fee of NIL
Please select atleast 2 banks to compare
Overview | SBIx | HDFCx | Citibankx |
---|---|---|---|
Lowest Interest Rate | 6.95% - Details | 6.70% - PLRDetails | 6.65% - TBLRDetails |
Maximum Loan Tenure | 30 Years | 30 Years | 25 Years |
Maximum Loan Amount | Rs. 7 Cr | Rs. 5 Cr | Rs. 5 Cr |
Home Loan Charges | |||
Processing Fee | Min Rs. 10,000, Max Rs. 10,000 | Min Rs. 3,000, Max Rs. 10,000 | |
Foreclosure Charges | Nil | Nil | Nil |
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- 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.

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