MAXIMISE LOAN BENEFITS

Move from home loan to home own, sooner

Below are some small steps that you can take to make big steps towards fast-tracking your way to financial freedom.

1. Take advantage of your free annual home loan health check:

Home loans are no longer a one-size-fits-all product. Review your loan at least once a year to make sure you're getting the most out of your home loan.

2. Save more by offsetting your savings:

With the Citibank Standard Offset Mortgage, you can use your savings to offset your home loan, which means you'll save on interest charged. And, with less interest to pay, you'll be able to pay your home loan off sooner, saving you time at no extra cost.

3. Make extra payments:

If you don't think spare change can make a difference, give up just one coffee each week, and by tipping the extra $3.50 into your home loan, you could save over $8,000 in total interest on a $250,000 loan at 7.5% p.a. interest over the 24 remaining years. Paying larger amounts like your tax refund into your loan can also shorten the life of the loan with significant savings on the interest.

4. Pay fortnightly:

You can reduce the cost of your home loan simply by increasing the frequency of your payments. By paying fortnightly instead of monthly you actually make the equivalent of two more repayments each year, helping you to pay off your loan faster.

5. Take advantage of being a Citibank customer:

By having all of your financial needs serviced by one bank, you don't just save time, you can be rewarded with big savings. Lenders like Citibank reward your loyalty with fee reductions on other products.

6. Benefit from free Online or Telephone Banking*

If you have a Citibank Debit card, you can streamline your day-to-day transactions by using our Internet Banking, CitiPhone Banking and our worldwide ATM and EFTPOS network, whenever it suits you.

Our Mortgage Specialists are always available to give you great tips to save you time and money. So whether you're ready to apply for a home loan, wish to discuss your current Citibank Home Loan, or just want to ask a question—start making the most out of being a part of Citibank and call us now on 1300 131 127.

One debt equals many savings

Debt consolidation involves combining all your higher-interest debt into one low-interest loan — usually your home loan — which allows you to save on additional fees and interest relating to other sources of credit. Consolidating personal loans and high-interest credit cards in this way is a sensible strategy that can more than halve the interest rate.

The key to successful debt consolidation is sticking to a budget. The system works best if you aim to repay your debts sooner, by making additional repayments. To become debt free, the key is that once you've consolidated your debts, don't keep adding to them, or you could find yourself overloaded with debt. Credit is extremely handy, but remember to use it wisely.

To discuss your current loan — or to talk about loan strategies that could save you money — please call us on 1300 131 127 between 8.30am and 5pm EST, Monday to Friday, or if you've been assigned a Relationship Manager, feel free to call them directly. Alternatively, you can sign onto Citibank Online and send us a secure email, or complete our online variation form.