Citibank has a reputation that has been well established, not only in Asia but all over the world. One of the most powerful financial companies in the World, it is more than just a brand name to be associated with Citibank when it comes to housing finance. They have some of the most comprehensive product lines when it comes to home loans as well. But that is not all, there are more advantages, when fiancing your home through Citibank. A lot of people think that Citibank is an expensive proposition but the reality is quite different. Citibank does not have any maintenance charges for the current account offered with the home loans. The loan payment tenures are also high and makes complete sense when it comes to interest rates and other charges.
Citibank also offers theborrower to enjoy 90% margin of the preoperty value financing unlike some banks which sometimes overwhelm people with a not too helpful 80%, where the customer has to still deal with a whopping 20%. Also, the company will grant a loan on other eligibility criteria but the nationality does not matter to the bank. In fact, as long as the individual’s annual income is RM 36,000 and he or she has sufficient documentation that is required, things are great to go for the home loan approval. You also have theoption to opt for an MRTA insurance or a MRTT insurance. Read on to know more about the various options for home loans available from Citibank.
At least 21 years old
Less than 70 years old
Salaried / Self-employed
with regular income
Earn more than the minimum
Instalment limited to about 50%
of monthly income
Loan capped @ Up to 95%
Instalments of other loans lower
Make your spouse a co-applicant,
and her income will add
to your eligibility
Choose longer tenure loan up to 35 years
Alternatively add your parents
|Margin of Finance||Up to 95%|
|Guarantor Requirement||No Guarantee Required|
Citibank home loans, just like elsewhere in the World, well known and regarded in Southeast Asia, especially in countries such as Malaysia and Singapore. The Citibank office in Malaysia is based at Kuala Lumpur but their customer service can suffice along with the various branches across the country. The home loans have been deliberately made so flexible to meet the needs of expensive real estate requirements of the residents of Malaysia, or people who are willing to become one.
This home loan comes with a single account access to hold all your deposits and housing loan accounts together. Get ultimate flexibility of planning and paying as per your convenience. Now you can pay more to reduce your interest or skip an EMI depending upon your need and priorities.
Listed below are a few important features of this Citibank Home Loan -
This home loan from Citibank comes with a connected current account. This is the most convenient home loan if you are looking for a mortgage account too. You can decrease your principal amount by paying off more than your monthly EMIs. Interest rates for this home loan can be negotiated depending upon your annual income, existing cash deposits with Citibank and your credit history. Any extra cash that you put into your current account decreases your rate of interest and also shortens your loan period.
Here are a few more significant features of Citibank Home Loan -
Here are the other features and benefits of the Citibank Home Loans:
You can check the basic fee and charges structure for loans in general by clicking on this link. But the interest rates of Citibank housing loans are comparatively high, however there are promotional affairs for Citibank, where borrowers get special offers such as cashback and Takaful packages. These campaigns can be accessed on the Citibank portal. The margin for housing loans can go up to 95% and the tenure for loan repayment can go upto 35 years.
There are certain eligibility criteria that needs to be fulfilled before you can apply for the loan which are as follows:
Citibank requires you to be at least over 18 years for a home loan. But it is only on rare occasions the an individual seeking a home loan at 18, will have an annual income of RM 36,000 or over, which is the minimum requirement in terms of annual income for Citibank home loan approval.
The excess payment can be used for withdrawal, but it is also eligible for protection by PIDM.
Yes, you need to submit 6 months of bank statements to prove not only your annual income but also whether you will be able to make the repayments as long the loan lasts.
Citibank home loan installment calculator is a useful online tool hosted on bbazaar.my. The tool is easy to use and furnishes information regarding your monthly home loan installment. Knowing your probable loan installment even before availing home finance is crucial in deciding upon the loan amount and the lender. Following is the input data required to be fed into the tool –
The above listed parameters can be modified to yield that particular figure of monthly installment which suits your pocket the best. Also, the rates of interest can be altered with respect to banking entities so as to decide upon which bank to choose.
Apart from offering Home Loan,Citibank offers other products and services which include: