Citi Bank Home Loan Interest Rates

4.5

CitiBank home loans have a starting interest rate of 8% on a maximum amount of INR 8 crores. The loan can be availed by Indian salaried and self-employed individuals for a tenure of up to 20 years. The loans offered are up to 80% of the property’s value. The bank checks an applicant’s credit history and eligibility requirements before sanctioning the loan.

  • Home Loan offer for You

  • 8%

    Interest Rate (p.a.)
  • ₹2.1L - ₹10Cr

    Tenure(1 - 25 Years)
  • ₹2,028

    EMI Per Lakh

The following table compares Citibank Home Loan Interest Rates with other banks and lending institutions.

  • 8%

    Interest Rate (p.a.)
  • ₹2.1L - ₹10Cr

    Tenure(1 - 25 Years)
  • Up to 3% of the borrowed loan amount

    Processing Fee

Compare Citi Bank Home Loan Interest Rates with Other Lenders

  • Starting Interest Rate (p.a)
  • Processing Fee
  • Rating
  • Min. Loan Amount
  • 5 Lac
  • 20 Cr
Years
  • 5
  • 30
%
  • 6
  • 20

Monthly Loan EMI

Payment Breakdown:

Principal Amount

₹10,00,000

Interest Payable

Total Amount Payable

Citibank Home Loan Interest Rates 2024

The Citibank Home Loan Interest Rate can go as low as 8% per annum. However, the interest rate offered to the applicant can vary based on the applicant's credit profile and financial status. Generally, the Citibank Home Loan Interest can commence anywhere around 8.45% per annum.

Citibank Home Loan Highlights 

The following table showcases the key highlights of the Citibank Home Loan:

Loan amount  Upto Rs 10 Crores
Tenure  Upto 25 Years 
Loan Available To both salaried and self-employed Individuals 
Financing  Upto 80% of the market value of the property 
Processing Fee 1% of the loan amount 

Citibank Home Interest Rates on Loan schemes 

The Citibank offers the following Home Loan Scheme to cater to housing requirement of the citizens in India. The Citibank Home Loan Interest rate varies under these schemes from applicant to applicant. 

Citibank Home Loan 

  • The borrowers can avail of loan amounts of up to Rs 10 Crores on Home loans. 
  • The Bank also offers a flexible repayment tenure of up to 25 years to ease the EMIs against the loan.
  • The CitiBank Home Loan Interest Rate commence from 8.45% per annum. 
  • The borrower can also avail of facilities such as home credit.
  • The bank computes the interest payable on the remaining balance. 
  • The applicant is not required to produce any guarantor or co-borrower. 

Citibank NRI Home Loan 

  • Non-resident Indians can obtain funds up to Rs 5 Crores to invest in properties in India. 
  • One can obtain financing of up to 80% of the property value. 

Citibank Home Interest for Salaried and Self-Employed

The interest rates offered on the Home Loan for salaried and self-employed individuals is with respect to the loan application. The bank examines the creditworthiness and the financial stability of the applicant in determining the risk of the loan. In case it is identified that the risk of the home loan is low, the bank would offer a lower interest rate to the applicant.

Citibank Home Loan Interest Rate For NRIs 

The Citibank also offers a Home Loan scheme designed to cater to loan applications from Non-Resident Indians. The Citibank Home Loan Scheme for NRIs entails the following features:

  • The Bank offers lucrative interest rates to the NRI applicants on home loans. However, it can differ based on the applicant's financial profile and credit history.
  • One can avail of a loan of up to Rs 5 crores to obtain a property in India. The eligible borrowers can purchase an under-construction property, a house or an apartment in India from the funds obtained.
  • The Bank has also established 24*7 online services to cater to the physical distance to facilitate the loan.

Citibank Home Loan Interest Rate and Other Charges

The following table showcases the Citibank Home Loan Interest Rates and charges for the same:

Application Fee Upto Rs 5,000 plus GST 
Booking Fee  Upto 0.40% of the Loan Amount 
Cheque Bounce Charges  Rs 500/- 
Penal Interest  2% of the current Interest Rate 
Home Loan (Fixed Rate)  Not Applicable 
Variable/Semi-fixed Rate interest loan Nil 

How to Calculate Citibank Home Loan Interest Rate?

Citibank employs the following formulae to calculate the home loan interest rates.

EMI = [P x r x (1+r)^n]/[(1+r)^n-1] Where,

  • P is the Principal amount
  • r is the rate of interest on the loan 
  • n is the tenure of the repayment

One can also utilise the Standard Chartered Bank EMI calculator to compute the interest payable on the home loan. This tool allows the users to calculate the EMI amount on the home loan from the comfort of their homes. The straightforward interface can be used even by first-time users without any hassle.

Why are Citibank Home Loan Interest Rates the Best for Customers?

The Citibank Home Loan Interest Rate are attractive for the applicants, and one can also avail of the smooth loan disbursement and application process designed by the bank. Citibank provides lucrative, flexible repayment options. 

Citibank Home Loan Interest Rates for Existing Customers

The existing customers with the bank can avail of lucrative offers on the home loan. They must reach out to Citibank's nearest branch to avail of the subsidised rates and discounts. 

Factors Affecting Citibank Home Loan Interest Rates and EMI

Several factors affect the Interest rates on the home loan with Citibank.

  • The loan repayment tenure directly impacts the home loan's EMI amount. The loan tenure and the EMIs are inversely related, which means a longer loan tenure would reduce the value of the EMIs.
  • The CIBIL score also affects the EMI on the home loan amount. An applicant with a good CIBIL score would be lucrative interest rates. 
  • The applicant's income also impacts the Citi bank Home Loan interest rates. Lower interests are offered to applicants with substantial income.

Frequently Asked Questions (FAQs)

What's the interest rate for Citi Bank?

The Citi bank Home Interest rate commences from 8.45% per annum. However, it can also vary based on the loan application.

Does Citi Bank provides a 90% home loan?

Citi bank offer up to 80% of the market value on the property for a home loan.

What is the EMI for 30 lakhs home loan for 20 years?

The EMI on the abovementioned value would be based on the interest rate offered to the applicant.

How can I reduce my Citi Bank home loan interest rate?

The borrower can reduce the Citibank Home Loan Interest rate by maintaining a satisfactory CIBIL score.

What is the average rate of interest for a Home Loan in Citi Bank?

The Citibank Home Loan Interest Rate commence from 8.45% per annum.

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