• Citibank Home Loan

    Citibank Home Loan

    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.


    You’re probably eligible for an Citibank Bank Home Loan if you are

    01
    02
    03
    04
    Citibank Bank Home Loan Minimum Age

    At least 21 years old

    Citibank Bank Home Loan Maximum Age

    Less than 70 years old

    Citibank Bank Home Loan Eligible Employment Type

    Salaried / Self-employed
    with regular income

    Citibank Bank Home Loan Minimum Income

    Earn more than the minimum
    income required


    Your Citibank Bank Home Loan amount eligibility is based on these factors

    01
    02
    03
    Citibank Bank Home Loan Minimum Salary

    Instalment limited to about 50%
    of monthly income

    Citibank Bank Home Loan Maximum Loan to property value

    Loan capped @ Up to 95%

    Citibank Bank Home Loan EMI

    Instalments of other loans lower
    your eligibility


    Increase your eligible Citibank Bank Home Loan amount by these steps

    01
    02
    03
    Citibank Bank Home Loan Add Spouse as Co-applicant

    Make your spouse a co-applicant,
    and her income will add
    to your eligibility

    Citibank Bank Home Loan Maximum Tenure

    Choose longer tenure loan up to 35 years

    Citibank Bank Home Loan Add parents as Co-applicant

    Alternatively add your parents


    Documentation needed to apply for an Citibank Home Loan

    • 1. Income tax returns - latest BE or EA Form.
    • 2. Copy of NRIC.
    • 3. Sales and Purchase Agreement or Title or Booking Receipt.
    • 4. Letter from employer and last 3 months' salary slips.
    • 5. Latest EPF Statement.
    • 6. Bank statements for the last 6 months.
    • 7. Forms 24 and 49 (business registration forms, if applicable).

    Citibank Home Loan Interest RatesUpdated on 09 Dec 2016

    Citibank Home Loan Details
    Margin of Finance Up to 95%
    Tenor 35 years
    Guarantor Requirement No Guarantee Required

    Citibank Housing Loan Malaysia

    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.

    Types of Citibank Home Loan

    Citibank Homecredit Home Loan

    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 -

    • Loan Tenure - A flexible loan tenure of up to 30 years.
    • Interest Rate - The rate of interest on the Flexi Home Loan is floating and depends on several factors like annual income, credit history etc.
    • Maintenance Fee - Citibank does not charge any maintenance fee on the accompanying current account.
    • Eligibility - 21 -70 years of age, minimum income of RM 36,000, any nationality.
    • Margin of Finance - A loan of up to 89% of the value of property can be availed.

    Citibank Flexi 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 -

    • Loan Tenure - A flexible loan tenure of up to 30 years
    • Interest Rate - The rate of interest on the Flexi Home Loan is floating and depends on several factors like annual income, credit history etc.
    • Maintenance Fee - Citibank does not charge any maintenance fee on the accompanying current account.
    • Eligibility - 21 -70 years of age, minimum income of RM 36,000, any nationality
    • Margin of Finance - A loan of up to 90% of the value of property can be availed

    Citibank Home Loan Benefits and Features

    Here are the other features and benefits of the Citibank Home Loans:

    Citibank Flexi Home Loan

    • Optional Insurance plan MRTA
    • Flexibility to start payment even while the property is still under construction
    • Flexibility to deposit more than the monthly instalment and to withdraw any amount at any point of time
    • Interest calculation happens daily, hence more savings

    Citibank Homecredit Home Loan

    • Optional Insurance plan MRTA or MLTA
    • Flexibility to pay instalments of any amount depending upon your need and priority
    • Flexibility to withdraw any amount at any point of time without prior notice
    • Anytime access to cash via ATMs, bank branches or cheques
    • Facility to consolidate all your accounts into one single master account
    • PIDM insurance on credit balance

    Citibank Home Loan Interest Rates

    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.

    How to apply for a Citibank Home Loan

    There are certain eligibility criteria that needs to be fulfilled before you can apply for the loan which are as follows:

    1. The individual should be between 18 to 70 years.
    2. The individual should be earning a minimum of RM 36,000 annually.
    3. He or she should be a Malaysian citizen, permanent resident with a valid work permit and documentation for proof.
    4. There are also some other documentation required of the applicant for the loan, which include:
      • Income tax returns - latest BE or EA Form.
      • Copy of NRIC.
      • Sales and Purchase Agreement or Title or Booking Receipt.
      • Letter from employer and last 3 months' salary slips.
      • Latest EPF Statement.
      • Bank statements for the last 6 months.
      • Forms 24 and 49 (business registration forms, if applicable).

    FAQs on Citibank Home Loan

    1. What is the minimum age requirement for applying for this home loan from Citibank?

      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.

    2. How Does it Help To Make Extra Payments on the home loan?

      The excess payment can be used for withdrawal, but it is also eligible for protection by PIDM.

    3. Do I require bank statement for documentation?

      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.

    4. How to Calculate Loan Installment for Citibank Home Loan?

      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 –

      • Desired home loan amount
      • Preferred loan tenure
      • Applicable rate of interest
      • Processing fee

      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.

    Other Products offered by Citibank:

    Apart from offering Home Loan,Citibank offers other products and services which include:

  • Contact Us on Mail
    Facebook
    reTH65gcmBgCJ7k - pingdom check string.
    This Page is BLOCKED as it is using Iframes.