Citibank India Home Loan

Can you provide me the details of Home Loan facility offered by Citibank India as I am planning to apply for the loan, so please help me with it so that I can take right decision?

[Shaleen]

Citibank offers loan through the unique Home Credit option.

Home Credit loans operate through Home Credit Account which is a current account linked to loan.

All amounts deposited in the Home Credit account in excess of the entry amount and subject to a maximum of outstanding loan are transferred on a daily basis to loan account to offset the interest being charged on loan.

This amount is always available for withdrawal by one as an overdraft line.

Special features of Citibank Home Loan
• Attractive Interest Rates.
• Easy Home Loan up to Rs. 10 crore.
• Flexible repayment tenure up to 25 years.
• Home Loans up to 80% of the property value.
• Flexibility to pay interest only during construction period.

Citibank Benefits
• Interest calculated on daily reducing balance.
• No co-borrowers/guarantors required.
• Convenient repayment through Standing Instruction or Electronic Clearing System.
• CitiPhone platform to answer all your queries.
• Online access to your Home Loan account.

Home Loans available for
• Purchase of under construction property.
• Purchase of Ready Property.

Citibank offers 2 options in Home Credit loans which one can choose depending on needs:

Home Credit Vanilla option
Home Credit Vanilla option gives the option of maintaining liquidity.
An overdraft line is set on the Home Credit account and interest savings arising out of the Home Credit facility go towards increasing this line, which is always available for withdrawal.

Home Credit Fast Track option
Home Credit Fast Track gives the option of repaying home loan faster.
Interest saves are adjusted towards reducing loan outstanding, which effectively reduce the tenure of loan and help close home loan faster.