A fixed rate mortgage with a guarantee of the advertised rate for sixty days on application.
If you are in the market for a home loan or want to change your current home loan, Citibank offers fixed mortgages that may work for you. These loan allows you to maintain a stable finance by keeping your interest rate constant. It never changes over the life of the fixed period. You also gain certainty knowing how much your repayment amount is each month so you can better budget your finances.
Investment lending
A loading of 0.20% is applied to all Citibank home loans that are used for investment purposes.
| Product Name | Citibank Fixed Rate Loan |
|---|---|
| Interest Rate Type | Fixed |
| Comp Rate^ (p.a.) | |
| Minimum Loan Amount | $50,000 |
| Maximum Loan Amount | $4,000,000 |
| Maximum Loan Term | 30 years |
| Maximum LVR | 80% |
| Maximum Insured LVR | 90% |
| Mortgage Offset Account | No |
| Mortgage 100% Offset | No |
| Loan Redraw Facility | No |
| Split Loan Facility | Yes |
| Fixed Interest Option | Yes |
| Loan Portable | Yes |
| Suitable for Investment | Yes |
| Extra Repayment | Yes |
| Available as equity loan/line of credit | No |
| Repayment Type | Principal & Interest and Interest Only Options |
| Application Fee | $399 |
|---|---|
| Lender's Legal Fee | $0 |
| Valuation Fee | $0 |
| Ongoing Fees | $8 monthly ($96 p.a.) |
| Settlement Fee | $250 |
| Discharge Fee | $300 |
Pros
- You can pay additional repayments during the fixed term without penalty
- You can split your loan so that some is fixed and the rest stays on a variable rate
- This loan is available with a Low Doc option
Cons
- There is a $399 application fee
- There is a $250 settlement fee
- There is a $8 per month account fee
- A discharge fee of $300 applies when you close your home loan account
The rate is secure for sixty days once you apply for the loan. So the rate on the day you first apply for the loan is locked in — a feature which costs a substantial fee with other banks. This gives you sufficient time to get your loan approved without worrying about an increase in the interest rate.
You are also allowed to make extra payments of a specific amount each month without incurring any penalties — a great flexible feature. You can make repayments while your interest rate stays the same.
Features and benefits of the Citibank Fixed Rate home loans
- Minimum loan amount: $50,000
- Maximum loan amount: $4,000,000
- Terms of the loan: Up to 30 years
- Maximum LVR: Up to 90% LVR
- Split accounts: Yes — up to four accounts with a minimum split amount of $20,000 for each account
Additional benefits of the Citibank Fixed Rate home loans
- When you are approved for a Citibank fixed rate loan, you will receive:
- An interest rate that is fixed, maintaining control when repaying the loan
- Sixty days interest rate ‘locked in’ from the application date
- No penalty on extra payments up to $1,000 dollars each month
Important Information
All financial securities are required to follow the standards of Citigroup credit. Legal fees may be applicable, depending on the bank establishment. There are applicable terms and conditions. You can receive information about these upon request. There are also applicable fees and charges. If the loan is approved within the sixty day fixed rate quote, the principal fixed interest rate will apply.
How to apply
The application process takes about five minutes to complete. It offers an idea of how much you can borrow, depending on how accurate the information is that you provided.
When applying, you will need to select:
- Your loan amount
- The loan term
- Number of dependents
- Total annual income
- Any rental income earnings and details
- Your total credit card limits
Once you enquire about this loan — Citibank provides an online calculator to work out how much you are qualified to borrow. You’ll also learn how fast you can pay off your loan with extra repayment amounts as well as the fees and charges associated with your loan repayment, if any.
Enquire about this home loan
Hi
do you offer SMSF loans at 80% LVR with no personal guarantee required
thanks
Hi Victor,
Thanks for your question.
We aren’t a lender but allow you to compare loans from a range of different lenders. You can compare a range of SMSF loans on this page.
I hope this has helped.
Thanks,
Elizabeth
We are 63 & 64 yo have a home valued at app 365k
Debt totalling 325k
We wish to build another home and still have somewhere to live while building then sell current home and live in new one
Total of new approx 375k
Combined income 136000k PAYG with agreement for further 15 years Can you help please ?
Hi Graeme,
thanks for the question.
Unfortunately as we’re not representatives of Citibank, we can’t answer whether or not you’d be eligible for a loan with Citibank. They have their own unique lending criteria which will take into account your credit file, income, assets and existing debts. You might want to contact them directly to find out more.
Sorry I couldn’t be of more help,
Marc.