Home Loan BYTES FROM OUR KITCHEN

Citibank Housing Loan

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.
Loan Type Flexible.
Approval Time 10 minutes (subject to meeting all requirements).
Lock-in Period 3 years.

Features and Benefits

  • Enjoy the freedom to make prepayments.
  • Withdraw your EPF contributions to reduce the outstanding loan.
  • Enjoy hassle-free instant approval on your application.
  • Get optional MRTA or MLTA plan to protect your home.
  • The interest rates are calculated on a daily basis.

Fees and Charges

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.

Documents Required

Salaried Employees
  • A copy of NRIC.
  • Latest 3 months’ pay slip.
  • Latest EPF statement.
  • Sales and Purchase Agreement or Title Deed or booking receipt.
Self-employed Applicants
  • A copy of NRIC.
  • Latest income tax returns document.
  • Form 24 and 49 (business registration certificate).
  • Latest 6 months’ bank statement.
  • Sales and Purchase Agreement or Title Deed or booking receipt.

How to Apply

Online Mode
  • Visit the home loan page on the bank’s website.
  • Click on the “Apply Now” button.
  • Enter your details, such as name, contact number, email address, and the property location.
  • Click on the “Submit” button.
  • A bank representative will call you to discuss the best options available for you.
Offline Mode
  • Visit the nearest branch office.
  • Discuss with the staff about the loan facility.
  • Fill up the application form.
  • Attach the required documents.
  • Submit the application to the staff.

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.

FAQs

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.

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