CITI Bank Home Loan

Features and Benefits of Citibank Home Loan

• Easily available home loan up to Rs. 10 crores.
• Alluring interest rates.
• The flexible repayment tenure for 25 years.
• 80% of a loan of the total value of your property.
• Flexibility to pay interest during construction time.
• Transparency on home loans interest rates (TBLR is an extended benchmark linked directly to the lending rate).
• Interest is calculated as per every day reducing balance.
• No guarantees are required for the sake of safety.
• 24*7 online access for home loan services.
• Get queries answered over call, chat or mail as per your convenience.
• You can even pay interest during the under-construction process.
• A good opportunity to save loan amount by parking your excess balances on your credit card.

Citibank Home Loan Overview

Buying a house is not a small decision to make. One has to plan the finances, look for EMIs, down payment, credit score, and many other factors. But with Citibank, there is nothing to worry about. You can easily apply for a Citibank home loan and avail the best deal as per your financial budget plans. The best part is that you can apply for a Citibank home loan online whenever you want. Its customer care service is also open 24*7. 

• Home loan interest rates range between 6.65% and 7.19% 
• Maximum home loan amount offered is INR 10 crores.
• Flexible repayment tenures with a maximum period of 25 years.
• Prefers a minimum 650 credit score.

Citibank Home Loan Eligibility Criteria

Documents Required for Citibank Home Loan

How Does the EMI Calculation Work for Citibank Home Loan?

Before you start paying your EMIs (Equated Monthly Investments), you must understand how EMI calculation works. The EMI calculation is done by considering the principal loan amount, interest rate and maximum tenure you apply for a Citibank home loan. 

The formula for calculating the EMI amount is: 

EMI = (P × R × (1+r)^n)/((1+r)^n-1) 

Where,

The principal loan amount – P can range from ₹10 lakh to 10 crores. 

The rate of interest – R is at 6.65% 

The loan tenure – n can be up to 20 years.