Citibank Loan Against Property Interest Rate Calculator - Jun 2017
Last Updated 13th Jun 2017
Citibank Loan Against Property Interest Rates
| Interest Rate | 9.50% - 9.50% Check Best Offers |
| Lowest EMI | Rs. 1,044 per lakh |
| Max Tenure | 15 years |
| Prepayment, Foreclosure Charges | Allowed with nil charges for floating rate loans to individuals |
| Age | Min 23 and Max 60 years for Salaried Min 23 and Max 65 years for Self Employed |
Apply Loan Against Property @ 9.25%*
Citibank Loan Against Property
Citibank offers Loan Against Property to the customers if they need to expand their business or want money for personal use. The loan is given upto 70% of the market’s value for tenure of 15 years.
Loan Against Property Citibank
Loan Against Property interest rates offered by Citibank depends upon MCLR
- Floating rates changes with a single change in Citibank 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 Property Loan based on 3 Month MCLR which is currently 8.10%
Citibank mortgage loan interest rate depends upon
- Loan amount: Citibank mortgage loan rate 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 Loan Against Property. 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
Loan Against Property 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 loan against property with Nil prepayment charges
Citibank Loan Against Property EMI Calculator
Loan Against Property EMI of Citibank is a fixed amount that you pay each month towards the repayment of your Loan till the end of tenure
- Citibank Property Loan EMI calculator helps you to calculate your monthly EMI at different rate of interest and also check lowest EMI per lakh on Loan Against Property
- 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 Loan Against Property EMI?
- Citibank Property Loan EMI calculator helps you to calculate your monthly EMI at different rate of interest
- Citibank EMI calculator for Loan Against Property 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 Loan Against Property Eligibility Calculator
Loan Against Property eligibility criteria CitibankEligibility of Loan Against Property 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: Citibank offers loan against property for a maximum tenure of 15 years if the borrower’s age does not exceed above 60 years for salaried and 65 years if you are self employed. Apply for loan at smaller age, higher will be the chances of loan approval
- Value of the property: Citibank decides your loan amount based on the market value of the property which you place as your collateral for the loan. Citibank lends less than the market value of the property. As per RBI guidelines, the borrower also has to show some contribution. Ratio of loan amount to value of home is called Loan to Value (LTV) ratio. Citibank gives maximum LTV of 70% for property loans depending upon market value of the property
- Repayment capacity of the borrower: Your eligibility to take loan against property depends upon the maximum EMI that you can pay. Citibank checks your past CIBIL history, repayment record of credit cards and existing loans that can impact your loan against property eligibility. If you have any other loan running whose EMI you are paying currently, then you are supposed to close your loan to get higher loan against property eligibility. Citibank does not specify any particular CIBIL score for being eligible for a property loan. However, it is observed that a score of 700 and above is desirable
To reduce your burden of higher EMIs, Citibank gives you a maximum tenure of 15 years for a maximum loan amount of Rs.50,000,000 with a minimum spread of % over 3 Month MCLR. Opt for a loan tenure that suits you and higher the loan tenure, higher will be loan amount eligibility - Income: Loan against property are mostly taken by the people who are self employed in order to expand their business. However, in order to increase the loan amount you may club the income of family members like your spouse, parents, children and siblings
Business person should be in business from the past 3 years and minimum ITR of last 2years is required as proof to Citibank
Popular Products:
- Loan Against Residential Property
- Property Mortgage Loan for Commercial Use
Citibank Floating Rate Loan Against Property
Citibank Loan Against Property Floating
Upto Rs. 3,000,000 - 9.50%
Rs. 3,000,001 - 7,500,000 - 9.50%
Rs. 7,500,001 - 10,000,000 - 9.50%
Above Rs. 10,000,000 - 9.50% linked to 3 Month MCLR
Upto Rs. 3,000,000 - 9.50%
Rs. 3,000,001 - 7,500,000 - 9.50%
Rs. 7,500,001 - 10,000,000 - 9.50%
Above Rs. 10,000,000 - 9.50% linked to 3 Month MCLR
Citibank Loan Against Property Top up, Transfer
Transfer of Loan Against Property from another bank to Citibank?Citibank offers loan against property balance transfer from another bank. This is subject to your meeting other eligibility criteria of Citibank
You can avail additional top-up loan against property from SBI, subject to your eligibility
Loan Against Property Citibank documents required
Loan Against Property 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
Loan Against Property 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
Property documents for Loan Against Property from Citibank
- Registered Sale Deed/ Conveyance/ Lease Deed
- Past Sale Deeds Chain (each transaction in respect of this property since first allotment
- Latest House Tax Return/ Receipt
- Approved Building Plan from Municipal Corporation
Frequently Asked Questions
What are the five things to check before applying for loan against property in Citibank ?
- Property on which you intend to take loan is not a vacant land, has an approved map plan and is in municipal area. You must attach the entire chain of title documents of the property and its approved building plan with the loan application.
- Your existing EMI’s on all loans and credit cards (from Citibank and other banks) are no more than 60 - 70% of your net monthly income
- You have not defaulted on loans or credit card dues to Citibank and other banks and all EMI's have been paid. Note that Citibank can see record or status of your EMI defaults to all banks and NBFC’s in India and not just to Citibank in your CIBIL report. Estimate your CIBIL score for free by using CIBIL score estimate calculator
- If you are salaried, ensure that you attach your recent salary slips, bank statements and last 3 years' Form 16 with the loan applicantion
- If you are self employed in your own business or practice, your business must have been in existence for at least three years and last three income tax returns with audited financials must be available
- Floating interest rate on Citibank property loan is linked to its 3 Month MCLR, which is currently 8.10%. So, when Citibank offers a loan against property at 9.50%, it applies a 1.4% premium to its MCLR to arrive at this rate
- When market interest rates go up, the bank increases its base rate and the applicable rate for all existing loans goes up. When interest rates trend downwards, the bank has to reduce the base rate as it is not allowed to lend below the base rate. Thus, any benefit of lower rates will have to be passed to both old borrowers and new borrowers
- Base rate benchmarked loans provide a better and more transparent interest rate transmission for the borrower compare to PLR benchmarked loans
- Current MCLR of Citibank, its past trend and comparison with RBI repo rate are given here for your reference
- You can prepay loan against property (LAP) without any penalty or charges in case:
- Your loan is at a floating rate of interest and not at a fixed rate. Almost all loans against property are at floating rates and it is unlikely that yours is at a fixed rate of interest
- The loan is in the name of one or more individual borrowers and none of the applicants and co-applicants is a business entity like a company or a firm or partnership or AOP
For loans from banks and NBFC's, refer to RBI circulars RBI/ 2013-14/ 582/ DBOD. Dir. BC. No. 110 /13.03.00/ 2013-14 dated May 7, 2014 and RBI/ 2014-15/121/ DNBS(PD). CC. No. 399/ 03.10.42/ 2014-15 dated July 14, 2014 for more details.
For loans from Housing Finance Companies, refer to NHB circulars NHB(ND)-DRS-Policy-Circular-63-14-15 dated Aug 14, 2014 and NHB-ND-DRS-Policy-Circular-No-66-2014-15 dated Sep 03, 2014 for more details.
Please contact myloancare at 0124 426 4004 or care@myloancare.in in case you need any assistance or clarification on this subject.
Citibank Loan Against Property in India
Citibank Loan Against Property 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 |
