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Citi Basic Variable

The details shown below are for an investor taking out a interest only loan between $350,000 and $4,000,000 with an LVR below 80%

The details shown below are for an owner occupier taking out a principal & interest loan between $350,000 and $4,000,000 with an LVR below 80%

The details shown below are for an owner occupier taking out a principal & interest loan between $350,000 and $4,000,000 with an LVR below 90%

The details shown below are for an investor taking out a principal & interest loan between $350,000 and $4,000,000 with an LVR below 80%

The details shown below are for an investor taking out a principal & interest loan between $350,000 and $4,000,000 with an LVR below 90%

The details shown below are for an investor taking out a interest only loan between $350,000 and $4,000,000 with an LVR below 90%

Choose the version of this loan that suits you best

  • Investor (Interest Only)

    LVR < 80%

    Loan: $350,000 $4,000,000

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $350,000 $4,000,000

  • Owner Occupier (Principal & Interest)

    LVR 80%-90%

    Loan: $350,000 $4,000,000

  • Investor (Principal & Interest)

    LVR < 80%

    Loan: $350,000 $4,000,000

  • Investor (Principal & Interest)

    LVR 80%-90%

    Loan: $350,000 $4,000,000

  • Investor (Interest Only)

    LVR 80%-90%

    Loan: $350,000 $4,000,000

Rate
3.14% p.a.
Comparison Rate*
3.19% p.a.
Service fee
$0.00
Upfront fee
$649
Rate
2.71% p.a.
Comparison Rate*
2.76% p.a.
Service fee
$0.00
Upfront fee
$649
Rate
2.96% p.a.
Comparison Rate*
3.01% p.a.
Service fee
$0.00
Upfront fee
$649
Rate
3.04% p.a.
Comparison Rate*
3.09% p.a.
Service fee
$0.00
Upfront fee
$649
Rate
3.29% p.a.
Comparison Rate*
3.34% p.a.
Service fee
$0.00
Upfront fee
$649
Rate
3.39% p.a.
Comparison Rate*
3.44% p.a.
Service fee
$0.00
Upfront fee
$649

Mozo editorial review Citi Basic Variable

Last updated: 30 March 2020.

binocular icon
What's hot
  • 2.71% p.a. variable rate (2.76% comparison rate*)
  • Free extra repayments
  • Redraw facility
  • Double 2020 Mozo Experts Choice Award winner
What's not
  • $399 application fee
Mozo snapshot

If you want a home loan with minimal fuss, the Citi Basic Variable Home Loan could be the right option for you. Not only does it come with a competitively low variable rate of 2.71% p.a. (2.76% comparison rate*), you’ll also have the flexibility to choose a weekly, fortnightly or monthly repayment schedule as well as make additional payments and redraws without penalty.

Better yet, the Basic Variable home loan was named a double 2020 Mozo Experts Choice Award winner for Best Investor Home Loan and Best Split Home Loan. 

key icon
Key features

The Citi Basic Variable Home Loan is flexible and can be tailored to suit you. There are options for owner occupiers and investors alike, whether they want to make principal and interest or interest only repayments. Interest rates start at 2.71% for owner occupiers making principal and interest repayments, and 3.04% (3.09% comparison rate*) for investors. Plus, customers can borrow from $350,000 to $4,000,000. 

After features? With this loan you can make free extra repayments and use a redraw facility if you wish to dip into them later on. And that’s not all, you also have the freedom to choose between making weekly, fortnightly or monthly repayments. 

While there is no annual or monthly service fee attached to the Citi Basic Variable Home Loan, just keep in mind you will be stung with a $399 application fee straight off the bat.

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Who is it good for

Citi’s Basic Home Loan could be suitable for someone looking for a loan with a solid interest rate and a few flexible features to help create a repayment schedule which suits their needs.

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Any catches

Be aware that there are some hefty fees attached to this loan. Aside from the $399 application fee there’s also a $250 settlement fee and $350 discharge fee to factor into your budget.

Details

Rates and fees information correct as at 7 July 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 3.14% p.a.

  • n/a

  • n/a

  • n/a

  • 3.19% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $399.00

  • $0.00

  • $0.00

  • $250.00

  • n/a

  • $0.00

  • $350.00

Other financial bits
  • $350,000

  • $4,000,000

  • none

  • 80.00%

Features
  • Investor

  • Interest Only

  • Monthly

  • yes - free

  • no

  • yes

  • none

  • yes

  • no

  • none

  • none

  • none

*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.

Details

Rates and fees information correct as at 7 July 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 2.71% p.a.

  • n/a

  • n/a

  • n/a

  • 2.76% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $399.00

  • $0.00

  • $0.00

  • $250.00

  • n/a

  • $0.00

  • $350.00

Other financial bits
  • $350,000

  • $4,000,000

  • none

  • 80.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes

  • none

  • yes

  • no

  • none

  • none

  • none

*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.

Details

Rates and fees information correct as at 7 July 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 2.96% p.a.

  • n/a

  • n/a

  • n/a

  • 3.01% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $399.00

  • $0.00

  • $0.00

  • $250.00

  • n/a

  • $0.00

  • $350.00

Other financial bits
  • $350,000

  • $4,000,000

  • 80.00%

  • 90.00%

Features
  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes

  • none

  • yes

  • no

  • none

  • none

  • none

*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.

Details

Rates and fees information correct as at 7 July 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 3.04% p.a.

  • n/a

  • n/a

  • n/a

  • 3.09% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $399.00

  • $0.00

  • $0.00

  • $250.00

  • n/a

  • $0.00

  • $350.00

Other financial bits
  • $350,000

  • $4,000,000

  • none

  • 80.00%

Features
  • Investor

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes

  • none

  • yes

  • no

  • none

  • none

  • none

*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.

Details

Rates and fees information correct as at 7 July 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 3.29% p.a.

  • n/a

  • n/a

  • n/a

  • 3.34% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $399.00

  • $0.00

  • $0.00

  • $250.00

  • n/a

  • $0.00

  • $350.00

Other financial bits
  • $350,000

  • $4,000,000

  • 80.00%

  • 90.00%

Features
  • Investor

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes

  • none

  • yes

  • no

  • none

  • none

  • none

*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.

Details

Rates and fees information correct as at 7 July 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • 3.39% p.a.

  • n/a

  • n/a

  • n/a

  • 3.44% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees
  • $399.00

  • $0.00

  • $0.00

  • $250.00

  • n/a

  • $0.00

  • $350.00

Other financial bits
  • $350,000

  • $4,000,000

  • 80.00%

  • 90.00%

Features
  • Investor

  • Interest Only

  • Monthly

  • yes - free

  • no

  • yes

  • none

  • yes

  • no

  • none

  • none

  • none

*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.

Customer Reviews

How are Citi home loans rated by the Mozo community?

Overall customer rating
5.0/10

Based on 167 Citi home loan reviews

Price
5.0/10
Features
5.5/10
Customer service
4.7/10
Convenience
4.0/10
Trust
5.1/10

Latest review of Citi Basic Variable

  • 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
    Features
    -1/10
    Customer service
    9/10
    Convenience
    8/10
    Trust
    9/10
    Less
    Wen, New South Wales reviewed 4 months ago
Citi

About Citi

Citi is the consumer banking arm of Citigroup, one of the world's biggest financial institutions. Citi was the first foreign bank to be granted a banking licence to operate in Australia. Citi is now the largest international bank in the country, serving millions of Australians with credit cards, mortgages, deposit accounts, charge cards and more.

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