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Citi home loans

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.

What home loans do Citi offer?

Rates and fees verified as correct at 31 October, 2020. Other information correct at the time of writing. Advertiser disclosure.

Fixed Rate Home Loans

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.

Home loan repayments calculator

years

Product Fixed 3 year rate Comparison Rate Service fee Upfront fee Monthly repayments ‡

2.54% p.a.

4.74% p.a.

$8.00 monthly

$649

2.09% p.a.

4.45% p.a.

$8.00 monthly

$649

3.14% p.a.

4.90% p.a.

$8.00 monthly

$649

2.59% p.a.

4.58% p.a.

$8.00 monthly

$649

2.94% p.a.

4.85% p.a.

$8.00 monthly

$649

2.39% p.a.

4.53% p.a.

$8.00 monthly

$649

Variable Rate Home Loans

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.

Home loan repayments calculator

years

Product Rate Comparison Rate Service fee Upfront fee Monthly repayments ‡

2.96% p.a.

3.01% p.a.

$0.00

$649

2.59% p.a.

2.64% p.a.

$0.00

$649

5.35% p.a.

5.49% p.a.

$8.00 monthly

$649

5.10% p.a.

5.24% p.a.

$8.00 monthly

$649

3.39% p.a.

3.44% p.a.

$0.00

$649

3.14% p.a.

3.19% p.a.

$0.00

$649

3.29% p.a.

3.34% p.a.

$0.00

$649

2.79% p.a.

2.84% p.a.

$0.00

$649

5.35% p.a.

5.49% p.a.

$8.00 monthly

$649

5.10% p.a.

5.24% p.a.

$8.00 monthly

$649

Fixed Package Home Loan

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.

Home loan repayments calculator

years

Product Fixed 3 year rate Comparison Rate Service fee Upfront fee Monthly repayments ‡

2.34% p.a.

3.19% p.a.

$350.00 yearly

$250

2.09% p.a.

2.94% p.a.

$350.00 yearly

$250

3.14% p.a.

3.82% p.a.

$350.00 yearly

$250

2.79% p.a.

3.55% p.a.

$350.00 yearly

$250

2.94% p.a.

3.55% p.a.

$350.00 yearly

$250

2.49% p.a.

3.26% p.a.

$350.00 yearly

$250

Variable Package Home Loan

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.

Home loan repayments calculator

years

Product Rate Comparison Rate Service fee Upfront fee Monthly repayments ‡

3.09% p.a.

3.48% p.a.

$350.00 yearly

$250

2.69% p.a.

3.09% p.a.

$350.00 yearly

$250

3.59% p.a.

3.97% p.a.

$350.00 yearly

$250

3.34% p.a.

3.73% p.a.

$350.00 yearly

$250

3.39% p.a.

3.78% p.a.

$350.00 yearly

$250

2.99% p.a.

3.38% p.a.

$350.00 yearly

$250

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, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

‡ 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.

Citi home loan features in a glance

Repayment Icon

Additional 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 icon

Offset 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.

Rate icon

Interest 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 icon

Free 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.

Free icon

Apply 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).

How are Citi home loans rated?

Mozo users have rated Citi home loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of home-loans
Citi home loans
Overall
5.0/10
Price
Features
Customer service
Convenience
Trust

167 Reviews

Recent Citi home loan reviews

Citi Home Loan review
Overall 5/10
Good bank.

Good bank, easy to deal with. No hassle, low fees, good app.

Read full review

Good bank, easy to deal with. No hassle, low fees, good app.

Less
Peter, New South Wales reviewed 4 months ago
Citi Standard Variable review
Overall 9/10
I love using the smartphone app!

The product is very simple. The application process was easy too.

Read full review

The product is very simple. The application process was easy too.

Price
7/10
Features
7/10
Customer service
8/10
Convenience
9/10
Trust
9/10
Less
Rachael, South Australia reviewed 7 months ago
Citi Basic Variable review
Overall 6/10
Rate cuts passed on but can be slow to process.

Citi offer good 24/7 online and phone service, they do pass on interest rate cuts and take security off your accounts very seriously. However there are little to no branches and processing time for paperwork can be slower than other banks.

Read full review

Citi offer good 24/7 online and phone service, they do pass on interest rate cuts and take security off your accounts very seriously. However there are little to no branches and processing time for paperwork can be slower than other banks.

Price
5/10
Customer service
9/10
Convenience
8/10
Trust
9/10
Less
Wen, New South Wales reviewed 8 months ago
Citi Home Loan review
Overall 1/10
Greedy.

Interest rate not same or close to reserve rate.

Read full review

Interest rate not same or close to reserve rate.

Price
2/10
Features
1/10
Customer service
1/10
Convenience
1/10
Trust
0/10
Less
Elizabeth, Victoria reviewed 9 months ago
Citi Standard Variable review
Overall 8/10
Great to deal with.

Have been responsive and good to deal with. Fast reply to queries. Good bundle with redraw.

Read full review

Have been responsive and good to deal with. Fast reply to queries. Good bundle with redraw.

Price
8/10
Features
6/10
Customer service
9/10
Convenience
2/10
Trust
7/10
Less
Phil, Queensland reviewed 12 months ago

What do you need to apply for a Citi home loan?

You can apply for a Citi home loan via an online application form and you’ll need the following details handy:

  • Identification documents such as a driver’s licence, passport etc.
  • Contact details including a valid email address and mobile number
  • Details about your employment
  • Recent payslips and bank statements
  • Details about your assets and liabilities


Home loan quick links