Citibank Loan Against Property Interest Rate Calculator - Dec 2016

Citibank Loan Against Property Interest Rates

Last Updated 08th 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 CRR at 4%. 100% CRR on fresh deposits withdrawn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 10.50% - 10.50%
Check Special Offers
Lowest EMI Rs. 1,105 per lakh
Max Tenure 15 years
Processing Fee Upto 0.50%
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 Online
 Salaried   Self Employed - Professional   Self Employed - Business 





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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 18 years.

Special Features

  • OD facility available
  • Nil prepayment charges on floating rates
  • Schemes for salaried and self employed

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 8.20%
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
Processing Fee - Citibank asks for a processing fee of 0.50% of loan amount with applicable service tax

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 Citibank
Eligibility 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 18 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 18 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
Estimated eligibility online by using Eligibility Calculator.
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 - 10.50%
Rs. 3,000,001 - 7,500,000 - 10.50%
Rs. 7,500,001 - 10,000,000 - 10.50%
Above Rs. 10,000,000 - 10.50% 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
Past trends of MCLR of Citibank
Date MCLR
04th Oct 16: 0.25% repo cut by RBI
20th Sep 16 9.10% decreased by 0.05%
07th Jun 16 9.15% decreased by 0.1%
05th Apr 16: 0.25% repo cut by RBI
12th Oct 15 9.25% decreased by 0.1%
29th Sep 15: 0.5% repo cut by RBI
01st Jul 15 9.35% decreased by 0.15%
02nd Jun 15: 0.25% repo cut by RBI
04th Mar 15: 0.25% repo cut by RBI
15th Jan 15: 0.25% repo cut by RBI
17th Nov 14 9.50% decreased by 0.25%
28th Jan 14: 0.25% repo hike by RBI
06th Jan 14 9.75% increased by 0.25%
18th Dec 13: 0% repo none by RBI
29th Oct 13: 0.25% repo hike by RBI
20th Sep 13: 0.25% repo hike by RBI
03rd May 13: 0.25% repo cut by RBI
19th Mar 13: 0.25% repo cut by RBI
29th Jan 13: 0.25% repo cut by RBI
10th Jan 13 9.50% decreased by 0.25%
17th Apr 12: 0.5% repo cut by RBI
25th Oct 11: 0.25% repo hike by RBI
16th Sep 11: 0.25% repo hike by RBI
05th Aug 11 9.75% increased by 0.25%
26th Jul 11: 0.5% repo hike by RBI
27th Jun 11 9.50% increased by 0.5%
16th Jun 11: 0.25% repo hike by RBI
09th May 11 9.00% increased by 0.5%
03rd May 11: 0.5% repo hike by RBI
17th Mar 11: 0.25% repo hike by RBI
25th Feb 11 8.50% increased by 0.5%
25th Jan 11: 0.25% repo hike by RBI
22nd Dec 10 8.00% increased by 0.25%
02nd Nov 10: 0.25% repo hike by RBI
01st Oct 10 7.75% increased by 0.5%
16th Sep 10: 0.25% repo hike by RBI
27th Jul 10: 0.25% repo hike by RBI
02nd Jul 10: 0.25% repo hike by RBI
01st Jul 10 7.25%

Citibank MCLR Vs. RBI Repo Rate Trend

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

Will Citibank mortgage loan interest rate remain fixed or will it change in future?

  • Floating interest rate on Citibank property loan is linked to its 3 Month MCLR, which is currently 8.20%. So, when Citibank offers a loan against property at 10.50%, it applies a 2.3% 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

Are prepayment or foreclosure charges applicable on Citibank loan against property?

    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 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
Citibank Loan Against Property News - Dec 2016
04th Nov 16 Citibank loan against property rates reduced from 1st November, 2016
Citibank has reduced its loan against property rates for self employed customers with capital invested of upto Rs. 5 crores. The revised loan against property interest rate ranges from 9.50 percent to 10.25 percent depending upon loan amount. The floating rates are benchmarked to 3 month MCLR Base rate of Citibank. The borrower can also avail flexi overdraft facility with this loan. The new rates will be effective from 1st November, 2016.
*My Finance Care Advisors Pvt. Ltd., or https://www.myloancare.in 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 info@myloancare.in to provide corrections or updates. We may act as and/ or be associated with channel partners of banks and other sellers of financial products.