A Beginner's Guide to Citibank Home Loan

SINGAPORE, Dec 12, 2023 - (ACN Newswire) - Are you planning to purchase a new home or refinance your property in Singapore? If you are on the lookout for flexible mortgage options and loan packages, applying for a home loan with Citibank may be a suitable choice. With Citibank Home Loan , you can look forward to a variety of mortgage interest rate packages with pricing pegged to the Compounded Singapore Overnight Rate Average (Compounded SORA), allowing you to enjoy lower monthly instalments and interest savings for refinancing your home loans. Preferential mortgage interest rates are also available for Citigold and Citigold Private Client customers. What's more, you will be assisted by dedicated mortgage advisors at every step of your home financing journey.

How to Refinance your Mortgage with Citibank?

You can begin refinancing your home loan with Citibank by using the Citibank Mortgage Calculator . Simply key in details like property type, outstanding loan amount and duration, existing interest rate and lock-in period to obtain an estimate of potential interest savings with the Mortgage Loan Interest Offset. If you are keen on receiving more details on your Mortgage Offer, kindly supplement us with more details via the online form, and you will hear back from Citi's mortgage advisor within the next business day.

What are the eligibility criteria and documents required to apply for a home loan with Citibank?

To qualify for a home loan with Citibank, you must be between the ages of 21 and 65. Singapore Citizens, Permanent Residents and foreigners are welcome to apply.

You will be required to supplement your home loan application with the following documents:

- Copy of NRIC/Passport of applicants

- Completed and signed Citi Home Saver Application Form

- CPF contribution history from the past 6 months (for salaried applicants)

- Computerised payslips from the past 3 months (for salaried applicants)

- Latest annual Notice of Assessment (self-employed applicants)

- Copy of HDB financial information

- Latest CPF withdrawal statement (if applicable)

- Option to Purchase/Sales and Purchase Agreement (if applicable)

Kindly note that the bank may request additional documentation, where applicable, at any point in the home loan application process.

What are the types of home loan interest rate packages available?

Citibank offers a variety of home loan interest rate packages, including fixed, variable and hybrid (a mixture of fixed and variable rates) interest rate packages.

Customers who have cash savings and are looking to bring down mortgage interest payments while maintaining flexible cash flow may consider the Cash Management Account, which comes with the mortgage loan interest offset feature. With the mortgage loan interest offset feature, the deposits in the Cash Management Account will earn adjustments which will be used to offset the mortgage interest payable towards your outstanding mortgage loan amount.

If you are looking for home loan packages with attractive interest rates, Citibank Home Loans may be an ideal option. On top of obtaining flexible mortgage solutions tailored to your specific needs, you can also look forward to receiving dedicated assistance from Citi's mortgage advisors and Mortgage Client Care team throughout your home financing journey. If you have questions regarding the Citibank Home Loan application process or wish to learn more about Citi's home loan interest rate packages, please get in touch with mortgage experts from Citi. Start your home financing journey with Citi's Mortgage Calculator today.

Citi Singapore

Citi Singapore is a full-service bank offering consumers, corporations, governments and institutions in Singapore with a broad range of financial products and services. It is one of the largest foreign banking employers in Singapore and a significant hub for Citi globally. The content reflects the view of the article's author and does not necessarily reflect the views of Citi or its employees. Please read the products and offers on the Citi Singapore website for accuracy or completeness of the information presented in the article.

Contact Information
Sonakshi Murze
Manager
sonakshi.murze@iquanti.com