Citibank home loans

Citibank
Citibank's overall rating for home loans

(as rated by the Mozo community)

4.8 / 10

based on 39 reviews

As part of Citigroup, one of the world’s largest financial services organisations, 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.

Citibank 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 Citibank’s home loans including any special features you need to consider.

Rates and fees verified as correct at 08 December, 2016. Other information correct at the time of writing.

What home loans do Citibank offer?

Fixed Rate Home Loans Fixed Rate Home Loans

If you want to be able to factor your home loan repayments into your monthly budget, Citibank’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. Citibank’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 Citibank 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 ‡

4.69% p.a.

5.62% p.a.

$8.00 monthly

$649

4.49% p.a.

5.42% p.a.

$8.00 monthly

$649


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Variable Rate Home Loans 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, Citibank’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. Citibank’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. Citibank’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 ‡

4.72% p.a.

4.77% p.a.

$0.00

$649

4.77% p.a.

4.82% p.a.

$0.00

$649

4.67% p.a.

4.72% p.a.

$0.00

$649

4.52% p.a.

4.57% p.a.

$0.00

$649

4.57% p.a.

4.62% p.a.

$0.00

$649

4.47% p.a.

4.52% p.a.

$0.00

$649

4.52% p.a.

4.57% p.a.

$0.00

$649

4.62% p.a.

4.67% p.a.

$0.00

$649

4.67% p.a.

4.72% p.a.

$0.00

$649

4.57% p.a.

4.62% p.a.

$0.00

$649

4.62% p.a.

4.67% p.a.

$0.00

$649

4.42% p.a.

4.47% p.a.

$0.00

$649

4.47% p.a.

4.52% p.a.

$0.00

$649

4.37% p.a.

4.42% p.a.

$0.00

$649

4.42% p.a.

4.47% p.a.

$0.00

$649

5.78% p.a.

5.92% p.a.

$8.00 monthly

$649

5.58% p.a.

5.72% p.a.

$8.00 monthly

$649


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Fixed Package Home Loan 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, Citibank’s Mortgage Plus is a worthy contender. Citibank’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 Citibank’s Dining Program and a free bottle of wine every time you dine with Citibank 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 ‡

4.24% p.a.

4.74% p.a.

$350.00 yearly

$250

4.29% p.a.

4.79% p.a.

$350.00 yearly

$250

4.24% p.a.

4.74% p.a.

$350.00 yearly

$250

4.19% p.a.

4.69% p.a.

$350.00 yearly

$250

4.14% p.a.

4.64% p.a.

$350.00 yearly

$250

4.19% p.a.

4.69% p.a.

$350.00 yearly

$250

4.09% p.a.

4.59% p.a.

$350.00 yearly

$250

4.14% p.a.

4.64% p.a.

$350.00 yearly

$250

4.14% p.a.

4.64% p.a.

$350.00 yearly

$250

4.19% p.a.

4.69% p.a.

$350.00 yearly

$250

4.09% p.a.

4.59% p.a.

$350.00 yearly

$250

4.14% p.a.

4.64% p.a.

$350.00 yearly

$250

4.04% p.a.

4.54% p.a.

$350.00 yearly

$250

4.09% p.a.

4.59% p.a.

$350.00 yearly

$250

3.99% p.a.

4.49% p.a.

$350.00 yearly

$250

4.04% p.a.

4.54% p.a.

$350.00 yearly

$250


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Variable Package Home Loan Variable Package Home Loan

If you’re looking at the Citibank’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 ‡

4.57% p.a.

4.93% p.a.

$350.00 yearly

$250

4.52% p.a.

4.88% p.a.

$350.00 yearly

$250

4.52% p.a.

4.88% p.a.

$350.00 yearly

$250

4.47% p.a.

4.83% p.a.

$350.00 yearly

$250

4.37% p.a.

4.74% p.a.

$350.00 yearly

$250

4.32% p.a.

4.69% p.a.

$350.00 yearly

$250

4.27% p.a.

4.64% p.a.

$350.00 yearly

$250

4.32% p.a.

4.69% p.a.

$350.00 yearly

$250

4.47% p.a.

4.83% p.a.

$350.00 yearly

$250

4.42% p.a.

4.78% p.a.

$350.00 yearly

$250

4.42% p.a.

4.78% p.a.

$350.00 yearly

$250

4.37% p.a.

4.74% p.a.

$350.00 yearly

$250

4.27% p.a.

4.64% p.a.

$350.00 yearly

$250

4.22% p.a.

4.59% p.a.

$350.00 yearly

$250

4.22% p.a.

4.59% p.a.

$350.00 yearly

$250

4.17% p.a.

4.54% p.a.

$350.00 yearly

$250


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Line of Credit Line of Credit

Line of Credit

With Citibank’s Mortgage Power you’ll be able to access the equity in your home like an everyday transaction account to use towards growing your future assets without the need to apply for extra funds or a credit card which often has higher interest rates. Citibank’s line of credit loan is available from a minimum of $50,000 and you can borrow up to 90% of your property’s value. While there is an account keeping fee, you’ll receive a full featured home loan including flexible repayment options (i.e. make interest only repayments up to 7 years), great access to your funds via ATMs and cheque book and the ability to split your loan between a fixed and variable rate.

Product Rate Comparison Rate* Service fee Upfront fee

6.15% p.a.

n/a

$12.00 monthly

$649

5.95% p.a.

n/a

$12.00 monthly

$649

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Citibank home loan features in a glance

Additional repaymentsAdditional repayments

With Citibank’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 Citibank’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

Citibank 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, Citibank’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 Citibank’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 Citibank home loans rated?

If you’re liking what you see head on over to Mozo’s review page where you can how real customers rated Citibank’s home loans across several categories including price, features, customer service and convenience.

Citibank home loans

Overall 4.8*

Price

Features

Customer service

Convenience

Trust

39 Reviews

* Overall rating based on reviews in the past 12 months.

Recent Citibank home loan reviews Recent Citibank home loan reviews

Citibank

Citibank Standard Variable (Owner Occupier) home loan review

Overall rating   1 / 10

Would not recommend

No Australians to speak with when calling them and not willing to help out.

Full review

No Australians to speak with when calling them and not willing to help out.

    Price   3 / 10

    Features   4 / 10

    Customer service   1 / 10

    Convenience   2 / 10

    Trust   2 / 10

Less

Jo (TAS), reviewed over 1 year ago

Citibank

Citibank home loan review

Overall rating   5 / 10

Good interest rate, after that forget it

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....

Full review

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.

    Price   7 / 10

    Features   7 / 10

    Customer service   6 / 10

    Convenience   1 / 10

    Trust   6 / 10

Less

Mark (WA), reviewed over 1 year ago

Citibank

Citibank home loan review

Overall rating   8 / 10

Would encourage people to try citibank.

Been ongoing account for many years and no major issues that could't be quickly resolved.

Full review

Been ongoing account for many years and no major issues that could't be quickly resolved.

    Price   8 / 10

    Features   6 / 10

    Customer service   8 / 10

    Convenience   6 / 10

    Trust   8 / 10

Less

Kevin (QLD), reviewed over 1 year ago

Citibank

Citibank Standard Variable (Owner Occupier) home loan review

Overall rating   8 / 10

Great Comparison Rates

Great comparison rates. Simple rules for understanding.

Full review

Great comparison rates. Simple rules for understanding.

    Price   5 / 10

    Features   7 / 10

    Customer service   9 / 10

    Convenience   8 / 10

    Trust   7 / 10

Less

Angela (NSW), reviewed over 1 year ago

Citibank

Citibank home loan review

Overall rating   9 / 10

Competitive premiums and good customer service

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.

Full review

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.

    Price   8 / 10

    Features   8 / 10

    Customer service   9 / 10

    Convenience   8 / 10

    Trust   9 / 10

Less

Phillip (NSW), reviewed over 1 year ago

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Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

* The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a home loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years, and applies only to this example. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

‡ 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.

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.

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

You can apply for a Citibank 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


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