Home Credit Advantage:
Citibank offers you to power pack your loan through the unique Home Credit option which lets you decide what interest you pay on your loan.
Home Credit loans operate through Home Credit Account which is a current account linked to your loan. All amounts deposited in the Home Credit account in excess of the threshold amount and subject to a maximum of your outstanding loan is transferred on a daily basis to your loan account to offset the interest being charged on your loan. This amount is always available for withdrawal by you as an overdraft line.
Citibank offers you 2 options in Home Credit loans that you can choose depending on your needs:
- Home Credit Vanilla option: Home Credit Vanilla option gives you the option of maintaining liquidity. An overdraft line is set on the Home Credit account and interest savings arising out of the Home Credit facility go towards increasing this line, which is always available for withdrawal by you.
- Home Credit Fast Track option: Home Credit Fast Track gives you the option of repaying your home loan faster. Interest saves are adjusted towards reducing your loan outstanding, which effectively reduce the tenure of your loan and help you close your home loan faster.
Maximum Amount for Home Loan: loan available from Rs 5 lakhs to Rs 10 Crores.
Repayment Tenure: maximum repayment tenure of up to 25 years
Loan to Value Ration: you can avail a Home Loan of up to 80% of your property value.
Minimum Eligibility: You should be at least 23 years of age and have work experience of at least 2 years to avail a Home Loan from Citibank.
Can I avail a top-up loan on my existing loan?
Yes, once you have completed repayments on your existing loan for more than 12 months, we offer you an additional top-up loan on your existing Home Loan. The final sanction of such loan is at the discretion of Citibank
Documents required for Salaried Individuals
• Salary slip not older than 60 days
• Bank statements for last 3 months not older than 90 days
• Work experience proof (required for 2 years)
• Photograph for all individuals
• Date of birth proof for all individuals
• Signature verification proof for all individuals
• Residence address proof for all individuals
• Business address proof for all self-employed customers