Enjoy the certainty of a fixed rate home loan along with additional repayments up to $1,000 per month without penalty.
The Citibank Mortgage Plus fixed rate mortgage can offer the peace of mind of knowing what your repayments will be every month. It provides the ability to budget and a sense of control over your home loan.
If you apply, you’ll get a free 60 day rate lock that gives you nearly two months to get your application approved without worrying about interest rates rising. Also, you have the ability to make additional repayments up to $1,000 per month without penalty, so you can achieve your goal of owning your own home sooner.
A loading of 0.20% is applied to all Citibank home loans that are used for investment purposes.
|Product Name||Citibank Mortgage Plus Fixed Rate|
|Interest Rate Type||Fixed|
|Comp Rate^ (p.a.)|
|Minimum Loan Amount||$500,000|
|Maximum Loan Amount||$4,000,000|
|Maximum Loan Term||30 years|
|Maximum Insured LVR||90%|
|Mortgage Offset Account||No|
|Mortgage 100% Offset||No|
|Loan Redraw Facility||No|
|Split Loan Facility||Yes|
|Fixed Interest Option||Yes|
|Suitable for Investment||Yes|
|Available as equity loan/line of credit||No|
|Repayment Type||Principal & Interest and Interest Only Options|
|Lender's Legal Fee||$0|
|Ongoing Fees||$350 p.a.|
- No application fees
- High maximum LVR of 90%
- High maximum borrowing amount of $4000000
- Annual fee of $350
- Loan portability options
- Make additional repayments
Things to consider about this loan
This loan is only available as a full documentation loan and is not available to the self-employed. It's also only available for loan amounts over $500,000. Finally, you must have a variable portion with this loan of at least $20,000.
Features and benefits of this home loan
- Fixed terms. Available from six months to five years.
- Free rate lock. If settlement occurs after the 60 days, then the prevailing fixed interest rate at the time of rate lock will apply. This means you won't lose out on the rate you want in the time it takes to settle.
- Loan amounts. There is a minimum loan amount of $500,000 and a maximum loan amount of $4,000,000.
- Loan term. The maximum loan term is 30 years years.
- Loan to value ratio. Note that this discounted rate is only available if your maximum LVR is 80% or below. You can borrow up to 90% of the property’s value plus the LMI premium that you’ll need to pay if you borrow more than 80% of the property’s value, but keep in mind that the rate may be different if more than 80% is borrowed.
- Interest-only repayments. You can opt for interest-only repayments for a period of up to five years.
- Additional repayments. As mentioned above, you make additional repayments up to $1,000 per month. If you intend to make additional repayments greater than $1,000 per month, break charges will apply. Note that a 1% cash handling fee could apply if you make a cash deposit over $500 at a NAB branch.
- Redraw facility. This is not available for the fixed portion of your loan, but allows you to withdraw any additional repayments you've made.
- Split accounts. You can split up to four accounts with a minimum split amount of $20,000 per account.
- Loan top-up. You can increase your loan amount by getting in touch with Citibank directly. They will provide you with a form that you’ll need to fill in and to return to them.
- Portability. You can transfer your Citibank loan with you if you decide to move properties.
- Loan protection insurance. You can opt for life, accident, critical illness or income insurance should anything affect you and you can’t make your home loan repayments.
- Free customised property report. Valued at $64.95 you can get a free valuation report done on your property.
Package with a Citibank credit card and/or Plus transaction account and enjoy the Citibank Dining Program
You can combine your package with an eligible Citibank credit card and get the annual fee waived. You can earn reward points that never expire, and get complimentary travel insurance for your, your spouse and dependents.
The Citibank Plus is a fee-free transaction account that doesn’t charge you for global transfers, plus you get free ATM withdrawals from Citibank and partner ATMs. There is also no international transaction fee so you can shop in any currency you like.
Finally, enjoy a free bottle of wine at eligible restaurants when you pay with your Citibank card.
Fees you can avoid
- Credit card annual fee (package), $ varies. You can select an eligible Citibank credit card and have the annual fee waived.
- Legal fees $ varies. These fees are to cover the cost of an legal paperwork that’s involved.
- Account-keeping fee, $8 per month. This covers the cost of maintaining your account (Citibank is currently waiving this fee).
- Application fee, $399. This fee is charged to cover the cost of setting up your account and the paperwork (Citibank is currently waiving this fee).
Fees you can’t avoid
- Annual fee (package), $350. This is to cover the cost of maintaining your account.
- Settlement fee, $250. Once the loan has been established, this fee is charged (Citibank is currently waiving this fee).
Find out what your repayments will be in a few seconds
How to enquire about the Citibank Mortgage Plus Fixed Rate
If you would like to know more information or apply this home loan, you can request an obligation free call back or enter a few details to get your application started by clicking 'Go to Site'.
What do I need to provide for a call back?
- First and last name
- Phone number
- Email and postcode
- Preferred time to call you back
What do I need to provide for my application?
- Your email address and contact details
- Details about your employment
- Your recent pay slips and bank statements
- Information about your assets and liabilities (expenses or amounts owing)
- Documents to help confirm your identity
- Your mobile phone numbers
- You need to be at least 18 years old
- You are an Australian citizen or permanent resident
- You’ve read and understood the terms and conditions
- You have an Australian residential address
Online applications are not available for the self-employed, company or trust applications. Please get in touch with Citibank directly to enquire about these.
What happens after I’ve submitted the application form?
Citibank will get in touch with you within 14 days with further steps.
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Citibank Mortgage Plus Fixed Rate Interest Rate History vs RBA Cash Rate Graph
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