CitiBank - Home Credit Options, Vanilla and Fast Track - Which one to choose

Citibank believes in understanding the different life stages and need of different types of home loan products and features to complement both the lifestyle and financial goals. Whether you are looking at buying a new house, renovating your existing home, investing in property or transferring your existing loan, Citibank presents to you the widest range of mortgage solutions to make your dream home a reality. No matter whether you're a first-time home buyer, investing in your dream home or changing homes - they have the right home loan offering to suit your needs.

Features :

• Attractive Interest Rates.
• Easy Home Loan up to Rs. 10 crore.
• Flexible repayment tenure up to 25 years.
• Home Loans up to 80% of the property value.
• Flexibility to pay interest only during construction period.

Benefits :

• Interest calculated on daily reducing balance.
• No co-borrowers/guarantors required.
• Convenient repayment through Standing Instruction or Electronic Clearing System.
• CitiPhone platform to answer all your queries.
• Online access to your Home Loan account.

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.

Interest Rates for Home Loan/ Home Loan Takeover :

• Loans up to Rs. 25 lacs                                                   -   9.85% p.a. to 10.00% p.a.
•  Loans > Rs. 25 lacs (without home credit facility)      -   9.85% p.a. to 10.25% p.a. 
• Loans > Rs. 25 lacs (with home credit facility)             -   9.95% p.a. to 10.35% p.a. 

Home Loan Takeover with Enhancement/ Home Loan Top-up (with cash out portion within 100% of Home Loan amount) 9.90% p.a. to 10.65% p.a.

Tenors - MCLR

O/N - 8.65% 
1M - 8.95%
3M - 9.00%
6M - 9.00%
12M - 8.85%

Which One to Choose :

Citibank Home Credit
Features	Home Credit Vanilla option	Home Credit Fast Track option
Product Benefit	You maintain Liquidity.	Allows you to repay your loan faster.
Who should opt?	Self-employed customers who have funds lying idle from time to time and would want the option of liquidity.	Salaried customers who want to better utilize their monthly savings to ensure their loan gets paid off faster.
Interest Saves	You can withdraw interest savings arising out of Home Credit. The overdraft line is increased appropriately.	Interest savings are adjusted towards reducing loan outstanding.
Overdraft Line Amount (Amount that you can withdraw)	Net amount deposited by you plus the interest savings arising out of Home Credit.	Net amount deposited by you.

Promotional Activities : 

You can refer your friends, close associates or relatives who are looking for a home loan, loan against property, or want to transfer their existing home loan. As a token of Citi Bank's appreciation you will get rewarded upto Rs. 75000/- per successful conversion.

Get Cash Reward for every referred loan booked and disbursed before 31st March 2016^

Cash Reward Payout Grid
Disbursed Amount (in Rs.)^	Referral Rewards on Disbursal*
30 Lakh - 50 Lakh	Cash Reward of Rs.9999
>50 Lakh - 1 Crore	Cash Reward of Rs.25,000
>1 Crore - 2 Crore	Cash Reward of Rs.50,000
>2 Crore	Cash Reward of Rs.75,000

*Subject to tax deduction at source under Section 194H of the Income Tax Act.

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