Citibank Housing Loan

While it may be a hard decision to actually choose a home loan for many people as it can get really confusing just calculating the interest rates that one would need to pay back in order to service the loans. Along with that also comes other concerns such as hidden chargers and penalties if the payments of the monthly instalments are paid late. Many people in fact have related home loans to mobile phone plans as there are so many complexities involved along with terms and conditions which can be hard to understand. For those of you who can relate to what has been said in the previous lines above, worry no more as Citibank offers a home loan which suits just about anyone and everyone. What you will actually get at Citibank is a completely flexible home loan which you can pay off whenever you feel like doing so. You are given the flexibility to pay an additional amount to finish up your loan payments and you are also allowed to withdraw money when you are in need of cash. This brings a whole new meaning to the term ‘flexibility’ and this is exactly what people are looking for nowadays.

How Can I Qualify For The Citibank Home Loan?

If you happen to be interested in the Citibank Home Loan, you will need to meet a few standards which has been set by Citibank in order for you to qualify for the home loan. The first thing which you would need to know is that you will at least have to be 18 years of age in order for you to apply for the home loan and there is also a maximum age limit of 70 which you are not supposed to exceed. You need to be sure that you at least have an annual income of RM 36,000 in order for you to be eligible for the home loan and its home loans are open to people of all nationalities here in Malaysia.

What Exactly Does Citibank Offer Its Customers?

The main benefit of the Citibank Home Loan package is that you actually get a margin financing on your property for up to 90% and also a 5% for MRTA financing from AIA Insurance. You will be happy knowing that you will have that privilege of getting a 35 year loan tenure from Citibank and the loan packages at Citibank is suited for homes which are completed and also properties which are under construction.

What Are The Types Of Loans Available

As far as full-flexi home loan packages are concerned, Citibank is still at the top of its game. Citibank is one of threw few banks that actually provides two different types of full-flexi home loans. The first type of loan will be the HomeCredit package which not only comes with a single integrated account which allows you to consolidate your account and keep track of your finances but also offers you the benefit of a payment concept without giving you a fixed monthly payment but instead allowing you to pay when you wish like paying.

The other home loan package, also known as the FlexiHome Loan allows you to save on interest as the interest rates are calculated based on a daily basis. You are also given the option to start paying for your property immediately even if the property you want to purchase is still under construction. This will actually allow you to reduce your financial burden a little faster on the long run.

Both the Citibank loan packages which are offered also come with a lock-in-period of 6 years. By far this is the longest lock in period in the market today. If you ever feel like settling your loan repayment then you has better be ready to pay a penalty of 3.6% which will be charged on your outstanding loan amount.

How Can I Increase My Chances Of Buying That Dream Home Which I Have Always Wanted?

The first thing which you will need to do in order for you to increase your chances of getting your home loan approved is to pay off any debts which you may already have. Having bad debts might kill your chances of getting your loan approved. The next thing you should know is that if you are someone who is married, you will also have your chances increased as you will be able to use your spouse’s income as a combined income for the both of you and this normally does the trick as well as increase credibility with the banks.