As part of Citigroup, one of the world’s largest financial services organisations, Citi (formerly Citibank) has developed a reputation for combining local expertise with the strength of a global consumer banking network. It was the first foreign bank to be granted a banking license in Australia when operations commenced in 1985.
Citi caters to different borrowing needs with its extensive range of home loans from fixed and variable to package home loans. On this page, you can easily navigate your way through all of Citi’s home loans including any special features you need to consider.
Rates and fees verified as correct at 22 June, 2018. Other information correct at the time of writing.
If you want to be able to factor your home loan repayments into your monthly budget, Citi’s Fixed Rate Loan is a great option. This fixed rate is available for loans starting from $50,000 and you can borrow up to 90% of the property's value. You can choose a loan term starting from 1 year up to a period 5 years and can make principal and interest or interest only repayments during that period. Citi’s Fixed Rate Loan has extra repayment flexibility where you can pay up to $1,000 per month without penalty, however you won’t have the comfort of a redraw facility. There is also a fee free rate lock which means Citi will fix the interest rate at the time of application (up to a period of 60 days) giving you time to get your application approved without the worry of rising interest rates. There is a monthly account keeping fee to consider with this loan option.
| Product | Fixed 3 year rate | Comparison Rate* | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 4.89% p.a. | 5.67% p.a. | $8.00 monthly | $649 | ||
| 4.69% p.a. | 5.61% p.a. | $8.00 monthly | $649 | ||
| 4.29% p.a. | 5.50% p.a. | $8.00 monthly | $649 |
Whether you’re looking for a basic no frills home loan or to save a bundle on interest via an offset account, Citi’s variable home loan options will cater to your borrowing needs. The variable loans are available from a minimum loan amount of 50% LVR and you can borrow up to 90% LVR. Citi’s options are packed with all the flexibility you’d expect from a variable loan including additional repayments without penalty, free redraw facility and the ability to split your account between a fixed and variable rate. There is also the option of increasing the credit limit on your variable loan should you need to borrow more funds in the future, but you’ll need to apply and may be charged a fee. Citi’s standard variable loans have an account keeping fee, but you’ll get the added benefit of an offset savings account which you can access via an ATM and could possibly save you thousands in interest over the term of the loan.
| Product | Rate | Comparison Rate* | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 5.01% p.a. | 5.06% p.a. | $0.00 | $649 | ||
| 4.81% p.a. | 4.86% p.a. | $0.00 | $649 | ||
| 4.41% p.a. | 4.46% p.a. | $0.00 | $649 | ||
| 5.77% p.a. | 5.91% p.a. | $8.00 monthly | $649 | ||
| 5.77% p.a. | 5.91% p.a. | $8.00 monthly | $649 |
If you’re borrowing more than $150,000 and love the idea of saving on your home loan by opting for a package, Citi’s Mortgage Plus is a worthy contender. Citi’s Mortgage Plus Package offers lower interest rates for high deposit loans which means the interest rate you’ll get depends on your loan amount and LVR. The Package automatically waives any credit card and transaction account fees, and you’ll receive membership to Citi’s Dining Program and a free bottle of wine every time you dine with Citi partner restaurants. Plus, you’ll get your pick of a range of flexible home loan features including interest only repayments, additional repayments up to $1,000 per month and a redraw facility. However, keep in mind the annual package fee is something to consider.
| Product | Fixed 3 year rate | Comparison Rate* | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 4.89% p.a. | 5.30% p.a. | $350.00 yearly | $250 | ||
| 4.69% p.a. | 5.10% p.a. | $350.00 yearly | $250 | ||
| 4.29% p.a. | 4.71% p.a. | $350.00 yearly | $250 |
If you’re looking at the Citi’s Mortgage Plus Package for loans over $150,000 but would like added flexibility, check out the variable rate option. With all the same features and bonuses as the fixed rate alternative, the variable rate package also allows you to make unlimited additional repayments to help you pay off your home loan debt faster. You can choose to make weekly, fortnightly or monthly payments, and you can also choose to make either principal and interest or interest only repayments, for greater control over your monthly repayment amount.
| Product | Rate | Comparison Rate* | Service fee | Upfront fee | Monthly repayments ‡ |
|---|---|---|---|---|---|
| 4.96% p.a. | 5.31% p.a. | $350.00 yearly | $250 | ||
| 4.76% p.a. | 5.12% p.a. | $350.00 yearly | $250 | ||
| 4.36% p.a. | 4.73% p.a. | $350.00 yearly | $250 |
‡ Results from this calculation are estimates only as individual lenders apply different formulas. Actual repayments will depend on your individual circumstances and interest rate changes.
| Additional repaymentsAdditional repayments | With Citi’s variable and package home loans you have the ability to make unlimited additional repayments to pay your home loan off sooner and reduce your interest over the term of your loan. If you opt for the fixed rate, you’ll be able to make up to $1,000 per month without incurring breakout costs. |
| Offset accountOffset account | Because you have to pay an account keeping fee for Citi’s standard variable loans, be sure to use your interest offset account which could save you big bucks on interest throughout the life of your loan. |
| Interest only repaymentsInterest only repayments | Citi offers an interest only repayments option on its fixed, variable and package loans (up to 5 years) and its line of credit loans (up to 7 years). |
| Free rate lock featureFree rate lock feature | Unlike other mortgage providers, Citi’s Fixed Rate Loan has a free rate lock feature which fixes the interest rate at the time of your application for up to 60 days, so you don’t have to worry about rising interest rates while your home loan is getting approved. |
| Apply to increase your credit limitApply to increase your credit limit | With Citi’s fixed, variable and line of credit option you can apply to increase your credit limit at any time (you’ll need to include supporting documentation and fees apply). |
If you’re liking what you see head on over to Mozo’s review page where you can how real customers rated Citi’s home loans across several categories including price, features, customer service and convenience.
* Overall rating based on reviews in the past 12 months.
No Australians to speak with when calling them and not willing to help out.
No Australians to speak with when calling them and not willing to help out.
Jo (TAS), reviewed almost 3 years ago
I guess if you were on the East Coast then maybe they are an option but no branch is a real pain and having to talk to foreigners who have trouble with the language is a pain. Needing to have more than one card as the credit card is also a pain....
I guess if you were on the East Coast then maybe they are an option but no branch is a real pain and having to talk to foreigners who have trouble with the language is a pain. Needing to have more than one card as the credit card is also a pain. Basically the interest rate was good, after that forget it. The solicitor who did their conveyancing was lovely.
Mark (WA), reviewed almost 3 years ago
Been ongoing account for many years and no major issues that could't be quickly resolved.
Been ongoing account for many years and no major issues that could't be quickly resolved.
Kevin (QLD), reviewed almost 3 years ago
Great comparison rates. Simple rules for understanding.
Great comparison rates. Simple rules for understanding.
Angela (NSW), reviewed almost 3 years ago
We have been with them for a number of years and find the rates very competitive and the staff very helpful even though we can't go into a branch, everything is done either over the internet or via phone calls.
We have been with them for a number of years and find the rates very competitive and the staff very helpful even though we can't go into a branch, everything is done either over the internet or via phone calls.
Phillip (NSW), reviewed almost 3 years ago
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You can apply for a Citi home loan via an online application form and you’ll need the following details handy:
