Terms and Conditions

Home Loans - Disclaimer

Important Information: Citibank and Citibank with Arc Design are service marks of Citibank N.A., or Citigroup Inc. used and registered throughout the world. © Citibank N.A. 2006. A member of Citigroup.

  1. Citibank N.A., India (Citibank) offers Home Loans to Non Resident Indians only as per the provisions of Foreign Exchange Management Act and the existing guidelines of the Reserve Bank of India. This lending program may change in accordance with changes in the aforementioned regulations/guidelines.
  2. All loans are at the sole discretion of Citibank. Citibank reserves the right to ask for any additional documents from the applicant. Citibank N.A., India reserves the right, at anytime, with notice, to add/alter/modify/change or vary any of the Terms and Conditions, wholly or in part of the program for Home Loan.
  3. The Home Loan for Non Resident Indians (NRIs) is being made available only by Citibank N.A., India in India, solely for the purchase of residential properties in India. Any misrepresentation by the applicant of his/her NRI status may invite prosecution under the Foreign Exchange Management Act, 1999 and entail rejection of the loan application or termination of the loan facility.
  4. The loan application will be processed and the loan, if approved, will be disbursed by Citibank N.A., India, in India in Indian Rupees.
  5. The rate of interest on the loan quoted during the evaluation stage of the loan is indicative and could change due to market factors before the loan agreement is entered into. The interest rate applicable on your loan will be as per the signed loan agreement.
  6. The loan approval process requires Citibank to use the services of third parties in India to: Evaluate the legal status of the property, ascertain the market value of the property, evaluate the loan proposal, initiate third-party credit checks on the applicant. By making application for the loan, the applicants shall be deemed to have consented to Citibank performing the above activities.
  7. A fee is collected towards loan processing of your loan application and is collected upfront irrespective of whether your loan has been sanctioned. This is non refundable under all circumstances.
  8. The loan approval will be advised to you after we receive all the income papers from you and will be subject to Terms and Conditions as mentioned in the approval letter.
  9. The formal loan agreement will need to be signed by all applicants and co-applicants as per final approval and before disbursement of the loan. The signing of the loan and security documents by the customer outside India should not be construed as the loan being sanctioned outside India.
  10. The loan and security documentation will, on being received in India, be stamped in accordance with applicable stamp laws of the relevant state of India and the loan documentation will thereafter be executed by Citibank in India.
  11. All loans are at the sole discretion of Citibank and Citibank reserves the right to reject a loan application.
  12. The recovery of the loan and enforcement of security and all the other disputes will be subject to the exclusive jurisdiction of relevant courts in India, to the exclusion of all other courts.
  13. The tenure of the loan is limited to the term of the loan being completed before the applicant reaches the age of 65 years.
  14. Applicants will need to nominate a co-applicant in India. Citibank reserves the right to contact the co-applicant by phone or in person to confirm contactability. The co-applicant will remain the guarantor on the loan and will be responsible for meeting the terms in case of default.
  15. The loan is to be serviced through payments from the customer's Citibank Rupee Checking Account and Citi NRI Remittance Account.
  16. Citibank has the right and authority to carry out investigations and seek information from the government/local authorities/credit bureaus/agencies, etc. for confirming the information provided to Citibank. Citibank shall have the sole discretion to reject the application.

You can order drafts online in the following currencies

Draft Currency Payable at
Australian Dollar (AUD) Sydney
Canadian Dollar (CAD) Canada
Euro (EUR) Germany
British Pounds (GBP) London
Japanese Yen (JPY) Japan
Singapore Dollar (SGD) Singapore
US Dollar (USD) New York
Indian Rupee (INR) Ahmedabad / Aurangabad / Bangalore / Chandigarh / Chennai / Coimbatore / Delhi / Faridabad / Gurgaon / Hyderabad / Jaipur / Kochi / Kolkata / Lucknow / Ludhiana / Mumbai / Noida / Pune / Surat / Vadodara

Click here for FAQs on Online Draft facility.


You can make funds transfer in the following currencies online

  • Australian Dollar
  • Canadian Dollar
  • Euro
  • British Pound
  • Japanese Yen
  • Singapore Dollar
  • US Dollar
  • Swiss Franc
  • New Zealand Dollar
  • Hong Kong Dollar

Click here for FAQs on Funds Transfer facility.


Terminology used by Mutual Funds

NAV (Net Asset Value)

NAV is the total asset value (net of expenses) per unit of the fund and is calculated by the Asset Management Company at the end of every business day.

How is NAV calculated?

The value of all the securities in the portfolio in calculated daily. From this, all expenses are deducted and the resultant value divided by the number of units in the fund is the fund's NAV.

Expense Ratio

AMCs charge an annual fee, or expense ratio that covers administrative expenses, salaries, advertising expenses, brokerage fee, etc. A 1.5% expense ratio means the AMC charges Rs. 1.50 for every Rs. 100 in assets under management.

A fund's expense ratio is typically to the size of the funds under management and not to the returns earned. Normally, the costs of running a fund grow slower than the growth in the fund size - so, the more assets in the fund, the lower should be its expense ratio.


Some AMCs have sales charges, or loads, on their funds (entry load and/or exit load) to compensate for distribution costs. Funds that can be purchased without a sales charge are called no-load funds.

Open and Close-Ended Funds

  • Open-Ended Funds
    At any time during the scheme period, investors can enter and exit the fund scheme (by buying/selling fund units) at its NAV (net of any load charge). Increasingly, AMCs are issuing mostly open-ended funds.
  • Close-Ended Funds
    Redemption can take place only after the period of the scheme is over. However, close-ended funds are listed on the stock exchanges and investors can buy/sell units in the secondary market (there is no load).

Mutual Funds

Citibank NRI Services makes available a range of Mutual Funds managed by well-known money managers and invested across asset classes. The set of funds represented here are from a wider list of funds available through Citibank NRI Services.

To get more details on the wide range of Mutual Fund offering, please get in touch with your Relationship Manager or drop a query.


Investment - Disclaimer

This webpage is provided for general information only and nothing contained in the material constitutes a recommendation for the purchase or sale of any security. Although the statements of fact in this report are obtained from sources that Citibank consider reliable, we do not guarantee their accuracy and any such information may be incomplete or condensed. Also views expressed in this Report are based on research materials available from sources considered reliable. Views are subject to change on the basis of additional or new research, new facts or developments. The investment risks described herein are not purported to be exhaustive, any person considering an investment should seek independent advice on the suitability or otherwise of the particular investment. Investment products are not bank deposits or obligations or guaranteed by Citibank N.A., Citigroup Inc., or any of its affiliates or subsidiaries unless specifically stated. Investment products are not insured by government or governmental agencies. Investment and Treasury products are subject to Investment risk, including possible loss of principal amount invested. Past performance is not indicative of future results; prices can go up or down. Investors investing in investments and/or treasury products denominated in foreign (non-local) currency should be aware of the risk of exchange rate fluctuations that may cause loss of principal when foreign currency is converted to the investors home currency. Investment and Treasury products are not available to US persons. All applications for investments and treasury products are subject to Terms and Conditions of the individual investment and treasury products. Customer understands that it is his/her responsibility to seek legal and/or tax advice regarding the legal and tax consequences of his/her investment transactions. If customer changes residence, citizenship, nationality, or place of work, it is his/her responsibility to understand how his/her investment transactions are affected by such change and comply with all applicable laws and regulations as and when such becomes applicable. Customer understands that Citibank does not provide legal and/or tax advise and are not responsible for advising him/her on the laws pertaining to his/her transaction.


Wealth Account - Disclaimer

  1. The policy is a contract between you and Zurich International Life. Citibank provides support to you, receives payments from you and forwards them to Zurich International Life. The basis upon which Citibank will provide customer support to you is set out in a letter of agreement. A copy of this document is available from Citibank at the contact address provided. Citibank does not, however, make any decisions under the policy, including without limitation with respect to (a) the acceptance, rejection or evaluation of application forms, (b) the acceptance, rejection, evaluation or payment of any benefits including those at maturity, encashment, or at any time during the term of the policy, and in respect of claims under the policy, and (c) the investment of money paid by you to Zurich International Life under the policy. Further, neither Citibank nor Zurich International Life offer any investment advice in connection with the policy. A fund manager selected by Zurich International Life will invest payments made by you under a policy.
  2. Premiums paid by you to a policy are not a bank deposit or other obligation of or guaranteed by Citibank N.A., Citigroup Inc., or any of its affiliates or subsidiaries. Your payments will be invested by Zurich International Life and managed by the fund manager selected by Zurich International Life in accordance with the policy Terms and Conditions and policy schedule, and such investments are subject to investment risks, including the possible loss of principal amount invested. Past performance is not indicative of future results. Prices can go up as well as down. Investors investing in funds denominated in non-local currency should be aware of the risk of exchange rate fluctuations that may cause a loss of principal. This document does not constitute the distribution of any information or the making of any offer or solicitation by anyone in any jurisdiction in which such distribution or offer is not authorised or to any person to whom it is unlawful to distribute such a document or make such an offer or solicitation. Investment products are not available to US persons and may not be available in all jurisdictions. The performance of the policy is not guaranteed by Citibank, Zurich International Life or Zurich International Life's fund manager unless explicitly stated in the policy Terms and Conditions.

Data Protection Notice for European Customers

Citibank N.A., India, is a member of the Citibank group of companies and is the data controller in the meaning of EU Directive on Data Protection (for EU customers - Please contact us at 0800-032-2484, if you want to have details of agencies from whom we obtain and with whom we record information about you. You have a legal right to these details). Citibank values your privacy and has a policy to hold in confidence information about you and your account. We will use your information to open and administer your account and for other business purposes, including the following: making any enquiries that we consider necessary to confirm your identity when considering your application, managing your account(s), (you have a right to make representations against any adverse decisions which have been taken on a solely automated basis); making searches against your name at licensed reference agencies. This may be for address verification or money laundering prevention purposes. It is important that you give us accurate information. We will check your details with a fraud prevention agency/agencies and if you give us false information and we suspect fraud we will record this. Law enforcement agencies may access and use this information. We and other organisations may access and use from other countries the information recorded by fraud prevention agencies. Citibank may disclose details of your relationship with Citibank NRI to other Citibank organisations for their confidential and internal use. Citibank NRI may also disclose such details to Citibank organisations or other third parties where it is reasonably necessary to do so for processing your dealings with us or to enable them to provide services to you. In certain circumstances, Citibank may disclose information, if required to do so by any court order, regulatory body or similar process and to countries outside the European Economic Area including the Head Office of Citibank in the United States of America and India for account management and other business purposes. You understand that this information may then become subject to the laws of other countries.


India Deposits - Disclaimer & Terms and Conditions


All Rupee Deposits, Rupee Checking Accounts and Citi NRI Remittance Account and FCNR Deposits are with Citibank N.A., India as per Reserve Bank of India rules and in accordance with the laws/regulations of India.

The Minimum Tenure for FCNR & NRE Deposits is 1 year.
In case an FCNR or an NRE Deposit is withdrawn within 1 year, no interest will be payable on the withdrawn amount.

Minimum Tenure for NRO Deposits is 7 days. Other account terms and conditions apply. For more information on NRO Deposit Proceeds Repatriation, visit Customer Services section on www.citinri.com

Please ensure you obtain, read, and understand the relevant terms and conditions before you make a decision about a product. The Citibank Rupee Checking Account and NRE / NRO / FCNR Deposit accounts are:

•    Governed by the rules and regulations of the Reserve Bank of India

•    Subject to cross border and foreign currency exchange risks and has lesser preference in case of a liquidation event

•    Not FDIC insured

•    Insured by India's Deposit Insurance and Credit Guarantee Corporation up to a maximum of Rs.1Lakhs

o    For Customers in Canada: The Rupee Checking Account and deposits are Not CDIC insured and held with Citibank
      India and not with Citibank Canada or Citibank N.A., Canadian branch

For customers in UK - This communication was approved by Citibank International plc. registered in England with number 1088249, registered office Citigroup Centre, Canada Square, London E14 5LB, authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Citibank NRI Business Rupee Checking Account: Offered by Citibank, N.A. through its overseas branches in India. | Subject to the rules and regulations of the Reserve Bank of India | Subject to Foreign Currency exchange risk. | Not FDIC insured |Compensation under the UK Financial Services Compensation Scheme (FSCS) is not applicable.

The Minimum Tenure for FCNR & NRE Deposits is 1 year.In case an FCNR or an NRE Deposit is withdrawn within 1 year, no interest will be payable on the withdrawn amount. Minimum Tenure for NRO Deposits is 7 days. Other account terms and conditions apply.

USA - Banking Products and services offered by Citi and its affiliates are subject to the applicable local laws and regulations of the jurisdiction where they are booked and offered. Not all accounts, products, and services as well as pricing are available in all jurisdictions or to all customers. Your country of citizenship, domicile, or residence may have laws, rules, and regulations that govern or affect your application for and use of our accounts, products, and services, including laws and regulations regarding taxes, exchange and/or capital controls.