Take out a home loan with Citibank and enjoy the benefits of a global lender.
For most Australians, Citibank doesn’t need an introduction. 200 million customer accounts in 160 countries means they also know a thing or two about the home loan process, and this translates into the large range of products they offer to potential borrowers.
Citibank has a large range of products not only for those trying to buy a home or investment property. They also provide a large range of everyday banking, personal loans, business accounts, insurance products and investment products, so Citibank can offer a product for most of your needs.
Add to this Citibank’s strong domestic and international presence with branches and ATMs scattered all over Australia and the globe, and it’s difficult to be in location where you can’t get access to your accounts. A simple online presence and mobile app, as well as phone banking means Citibank offers the full range of accessibility.
You can sort through various Citibank home loans below by clicking on the table headings. These allow you to sort through loans based on annual percentage rate, comparison rate, fees and maximum LVRs (the amount you can borrow as a percentage of the property value/purchase price.
Citibank’s now famous Dining Program, which gives a free wine bottle at participating restaurants demonstrates how willing they are to go the extra mile for their customers.
Rates quoted below are for principal and interest repayments on loans with an LVR less than or equal to 80% and loan amount ≥$500,000 unless otherwise stated in the product name. There may be additional loadings if your loan falls outside these parameters.
Compare Citibank home loans
Things to consider about Citibank
Citibank isn’t one to skimp on the features offered on their products. Below are the loan products they offer, and some of the features you can expect to make use of.
Fixed rate mortgage
Rising interest rates can be at the forefront of a home buyer's mind when choosing a mortgage. The Citibank Fixed Rate Mortgage can solve this worry for you by allowing you to fix your interest rate for a term between six months and five years. You're also allowed to make up to $1,000 in additional repayments each month which is a unique feature on a fixed interest rate home loan.
There are also other useful features offered on this loan. These include the free 60-day rate lock, which fixes your rate in at the time of application, meaning you won't have a nasty rate surprise when your loan settles. Finally an interest-only term of 10 years means this loan could suit not only a home buyer but also an investor, and a high maximum LVR of 90% gives you the ability to purchase a property with as little as a 10% deposit.
The Citibank Mortgage Power is a revolving line of credit which gives you access to funds up to an agreed credit limit. Being a line of credit means it's secured by the equity you hold in your property, and will see you only pay interest on amounts you withdraw. Access to your money can be done through the same means as a transaction account, meaning you can use ATMs, BPAY, cheques and online or phone banking.
The Mortgage Power option can be combined with any variable or fixed interest rate contract. This loan also carries with it a seven year interest-only option if you wish to take advantage of it, plus the loan is portable, meaning it can be transferred to another property if you wish to sell and buy again, without having to pay high exit and refinancing fees.
Mortgage plus standard variable
The Mortgage Plus package bundles your home loan with a Citibank credit card and transaction account, and gives you discounts on your interest rate and annual credit card fees for doing so. In exchange, you pay a package fee of $350 per year.
To reward borrowers with an LVR of below 80%, Citibank will grant a further discount on the loan interest rate.
You'll also get the ability to make additional repayments whenever you like with no extra fees, the option to pay interest-only for five years, and unlimited redraws.
The Citibank Home Loans Basic Mortgage is a flexible loan which minimises fees by not going overboard with features you don't need. It combines a variable interest rate of (comparison rate ) and no account-keeping fees to make for a simple product. You'll also have the ability to make additional repayments whenever you have the extra funds available, and then get access to these extra payments at any time through an unlimited redraw facility.
Like many Citibank loans, the Basic Mortgage offers borrowers the option to split their loan into both fixed and variable rate portions, giving them the opportunity to make savings regardless of how interest rates fluctuate. In addition, borrowers can elect to pay only the interest portion of their loan, and can enjoy a loan term of up to 30 years.
Why choose a Citibank mortgage?
As mentioned, Citibank loans come with industry-standard options which allow you to structure your loan in the way you want.
These include features such as:
- Flexible repayment terms - you can choose to pay off your loan in the way it suits you: weekly, fortnightly or monthly.
- Additional repayments - most Citibank loans allow you to make additional repayments which can pay off a loan earlier. Even the Fixed Rate Mortgage allows up to $1,000 worth of additional repayments to be made each month.
- Redraw facilities - you can get access to any additional repayments you make on many Citibank home loans.
What should I do if I’m interested in a product?
If you want to find out more about any of the products listed above, simply check out the product's review page to find out more.
The review page will have an in-depth look at what the loan offers, what fees you'll pay, and other important features, and is a crucial step in the comparison process.
If there is no review page you will be directed to a mortgage broker form where you can fill in your details and a broker will get back to you with further information on your selected loan.