Citibank offers mortgage loans that are suitable for both salaried employees and businessmen. Whether it is your first house or second, Citi covers all your requirements with the Citibank Housing Loan facility.
|Indicative Effective Lending Rate||4.70% p.a.|
|Approval Time||10 minutes (subject to meeting all requirements).|
|Lock-in Period||3 years.|
|Processing Fee||RM25,000 or less: Waived. RM25,000-RM30,000: RM50. RM30,000-RM100,000: RM100. RM100,000 or more: RM200. (currently waived)|
|Early Termination Fee||Up to 3% of the original loan amount.|
|Account Set-up Fee||RM200.|
|Interest Rate for Defaulters||1% above the specified interest rate on 3-month outstanding instalment amount past the due date.|
Citibank Housing Loan is a standard housing loan facility that provides the flexibility of making early payments. Make use of the scheme to pay a little more than the specified instalment amount as and when possible. Get an opportunity to clear the loan sooner than the set tenure.
Q. Is it mandatory to subscribe for an MRTA or MLTA insurance plan?
A. No. Buying an MRTA or MLTA insurance plan is optional.
Q. Should I inform the bank before making advance payments?
A. No. You need not inform the bank before making advance payments.
Q. Is the approval time of 10 minutes applicable to all the applications?
A. No. The bank offers to approve the loan within 10 minutes if you meet all requirements imposed by it. The actual approval depends on your credit assessment done by the bank once you submit the complete documentation along with the duly-filled application form.
Q. Can I take up this loan if my property is still under construction?
A. Yes. You can apply for this loan even for properties that are under construction.
Q. Is there any minimum amount specified for making extra payments?
A. No. You can pay any amount at any time based on your budget.