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Citibank Basic Mortgage
A low rate home loan, that's highly flexible.
With the Citibank Basic Mortgage, we've got the basics right - such as a low variable rate and no account keeping fees - so you can move from home loan, to home own, sooner.
With a Citibank Basic Mortgage you can:
- be rewarded for your savings efforts with discounted rates
- make additional repayments without additional fees
- pay weekly, fortnightly or monthly
- enjoy zero account keeping fees
- redraw available funds.
Features
| Interest rate | Variable |
| Application Fee | $399 |
| Annual Package Fee | N/A |
| Settlement Fee | $250 |
| Account Keeping Fees | N/A |
| Minimum loan amount | $250,000 |
| Maximum loan amount | $4 Million |
| Loan term Maximum | 30 years |
| How much of property value can I borrow? | Up to 90% plus LMI premium capitalisation2 |
| Option of Interest-only repayments | Yes – for a maximum of 5 years3 |
| Additional repayments | Yes - at any time without penalty1 |
| Redraw | Yes - unlimited |
| Loan combination / splits | Yes - can be combined with a Standard Fixed Rate Mortgage |
| Split accounts | Yes - up to 4 accounts with a minimum split amount of $20,000 per account |
| Loan Portability | Yes - you can transfer your loan to a different property |
| ATM and cheque book access | No |
| Can I increase my loan amount? | Yes - Learn more |
| Other fees and charges | Learn more (Adobe PDF, 37kb) |
Getting started.
From first-time buyers to investors - if you are looking for a simple, no-fuss home loan from a trusted lender that truly rewards your saving efforts, you've found it with a Citibank Basic Mortgage.
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Contact Us
- Find a Mortgage Specialist near you
- New Customers, call us on 1300 361 922
(Mon to Fri, 9am to 5pm AEST) - Changes to your Home loan, call us on
1300 131 127 (Mon to Fri, 9am to 5pm AEST) - Contact your mortgage broker.
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All loans and securities are subject to Citigroup's credit criteria. Establishment and, where applicable, legal fees apply. Terms and conditions apply and are available on request. Fees and charges apply.
^The Loan to Value Ratio (LVR) is the same as the Loan to Security Ratio (LSR) in the loan documentation. Margin discounts are based on the Loan to Security Ratio (LSR) as confirmed by Citibank at the time of loan approval. The LSR may change between the date of loan approval and loan settlement and Citibank reserves the right to vary the margin discount between the date of loan approval and date of the loan settlement based on a change in the LSR. The LSR used for the purpose of determining the margin discount will not change for the duration of the loan following the loan settlement. Any increase or decrease in the LSR after loan approval will not change the level of margin discount, although the Citibank reference rate is variable and subject to change.
^^Comparison Rate calculated on a loan amount $150,000 over a term of 25 years based on monthly repayments. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
- Without penalty, customers with fixed loan splits can make additional repayments of up to $1,000 per payment cycle, or increase their regular repayments by up to $1,000 per payment cycle.
- Lenders Mortgage Insurance is applicable for loans with an LVR over 80%, unless the option LVR between 80.01%-85% (Without LMI) is selected. Loans with LVR between 80.01%-85% (Without LMI) are not available to non resident loans or loans where income is declared for loan assessment is in a foreign currency. For all loans over LVR 80% principal and interest repayment is required.
- Interest only repayment option only available to loans secured by an investment property.
- Interest only repayment option are not available for non resident loans or loans where income declared for loan assessment is in a foreign currency.
© 2018 Citigroup Pty Limited. All rights reserved. ABN 88 004 325 080, AFSL No. 238098, Australian credit licence 238098. Citi, Citi and Arc Design and other marks used herein are service marks of Citigroup Inc. or its affiliates, used and registered throughout the world.