(^for Home Loan Top-up Loans for enhancement between 10-100% of original amount). T&Cs apply.
Why Choose Citibank Balance Transfer Home Loans?
A home loan balance transfer provides you with the option to choose a bank or a financial institution that offers improved rate of interest or Loan facility over your existing one. This choice can save you from paying high monthly instalments and utilize the savings for your personal and professional needs.
What is the Advantage of Citibank Home Loan Takeover with Enhancement?
A top up on the current loan helps you to be ready for any expenses you did not anticipate. Citibank’s Home Loan Takeover Plus Enhancement gives you both advantages. Enjoy lower interest rates with our home loan balance transfer facility and then top up your loan to supplement further financial requirements. Availing an enhancement helps you to close your high-cost debts and reduce your monthly payments.
Benefits of Home Loan Takeover
Lower interest rates
With Citibank’s home loan balance transfer facility, get lower rates of interest and flexible repayment tenor. Take advantage of this facility to save more and to repay your home loan faster.
Good repayment track record may get you good Rate of Interest (ROI):
Your track record of making regular payments, your credit score, and other financial habits may help in obtaining a reduced rate of interest. These points may even let you get enhanced benefits.
Flexible repayment tenor
Citibank home loan balance transfer facility offers a flexible tenor period and a reduced rate of interest. These features facilitate easy and convenient repayment of your home loan and enhanced savings.
Low monthly EMI
The home loan transfer facility offers a reduced rate of interest which leads to lower monthly EMIs. By availing the home loan transfer facility, you may also increase your savings each month.
Increase/Decrease the home loan duration
To increase or decrease your current home loan duration, you may opt for the Citibank home transfer facility. It offers flexible tenor and reduced ROI, so repay your home loan according to your convenience.
Why and when should you apply for home loan take over?
If your current bank is charging a high rate of interest for your home loan and you want to repay your loan by paying a lower rate of interest, then you may apply for a home loan balance transfer facility in another bank. You can check out the Citibank home loan transfer facility if you want a flexible tenor and a reduced ROI.
You can also enjoy our exclusive Home Credit Fast Track facility. This facility lets you save interest by depositing your surplus funds and the interest saved reduces your principal outstanding allowing you to repay your home loan faster.
Check out our home credit mortgage payment calculator to calculate how much you can save by availing Citibank’s home credit facility.
You can also visit our ‘Useful Links’ section below to find more information about our home loan interest rates and other information.
Check out our Home Loan Eligibility Calculator to determine your home loan eligibility
Takeover Plus Enhancement
With Citibank Home Loan Takeover Plus Enhancement, you can transfer your existing high cost loans to Citibank and reduce your monthly EMI payments. Avail higher loan amount to fulfil your personal and professional needs.
- Transfer your high cost Loans of up to Rs.5 Crore*
- Flexible repayment tenure up to 20 years.*
- Sanction basis your existing Loan repayment record.
- Exclusive Home Credit Fast Track facility - Lets you save interest by depositing your surplus funds and the interest saved reduces your principal outstanding allowing you to repay your Loan faster.
- Avail an enhancement of up to Rs.3 Crore for any personal, business or professional need.
Move to Citibank Home Loan and reduce your monthly payments.
Avail of an enhancement and close your high cost debts to reduce your monthly payments.
Citibank offers you to power pack your loan through the unique Home Credit option which lets you decide what interest you pay on your loan.
Home Credit loans operate through Home Credit Account which is a current account linked to your loan. All amounts deposited in the Home Credit account in excess of the threshold amount and subject to a maximum of your outstanding loan is transferred on a daily basis to your loan account to offset the interest being charged on your loan. This amount is always available for withdrawal by you as an overdraft line.
Citibank offers you 2 options in Home Credit Loans that you can choose depending on your needs:
Home Credit Vanilla option gives you the option of maintaining liquidity. An overdraft line is set on the Home Credit account and interest savings arising out of the Home Credit facility go towards increasing this line, which is always available for withdrawal by you.
Home Credit Fast Track gives you the option of repaying your Home Loan faster. Interest saves are adjusted towards reducing your loan outstanding, which effectively reduce the tenure of your loan and help you close your Home Loan faster.
Click here to know more about Home Credit Facility.
Click here to see how you can save interest and reduce tenure using Home Credit Fast Track.
You can apply for a Citibank Home Loan Takeover via:
- Citibank Online. Click here to apply now
24*7 CitiPhone Numbers (applicable accross India) Credit Cards / Citibanking / Suvidha / Loans* /
Citi Priority / Business Preferred
1860 210 2484 (Local call charges apply)
Use +91 22 4955 2484 for calling us from outside of India.
*Operational between 9 AM – 7 PM (Monday – Saturday) except on national holidays.
- SMS HOME to 52484
- Citibank branch
You can avail Citibank Home Loan Takeover up to Rs.5 Crore.
Citibank Home Loan Takeover have maximum repayment tenure of up to 20 years. The actual tenure of your Loan is subject to the bank's discretion and underwriting criteria and in line with credit acceptance parameters.
Based on the valuation of your property, you can avail a Loan takeover along with enhancement of up to 80% of your property value.
Yes - you cannot only transfer your existing Loan to Citibank, but also avail an enhancement up to Rs.3 Crore for any of your personal, business or professional needs. You can also use the enhancement funds to close your other Loans with other institutions.
The Application will be processed within 15 working days on a best effort basis, on receipt of all the required documents mentioned at the time of application collection. The document requirements are indicative and Citibank reserves the right to request for further documents, if required. Terms and conditions as mentioned in the Loan agreement will apply.
EMI stands for Equated Monthly Installments. This installment includes both the Principal and Interest Components. Citibank Loans are repaid through EMIs (Equated Monthly Installments) over the period of the Loan. The table below shows indicative EMIs for different periods for a Loan of Rs.1 Lakh and interest rate of 9%. Click here to find out the EMI on your loan.
|Loan Tenure (in Years)||EMI Per Lakh (in Rupees)|
Citibank offers you a host of repayment options for your loan EMI. You can pay your EMI through: SI (Standing Instruction) on your Citibank account or through NACH (National Automated Clearing House).
Yes, you are allowed to prepay your Loan. You can also choose to make partial prepayments on your Loan. Please refer to the Terms and conditions mentioned in the Loan agreement to know more about prepayments.
Yes, you can! You can opt for Citibank Home Credit to further reduce the interest cost on your Loan.
To know more, click here.
Documents Required to Apply for a Citibank Home Loan Take Over:
- Pan Card
- Aadhaar Card
- Passport (For NRIs, passport & Visa is required). If PIO then PIO card is required
- Proof of residence (OVD documents like Aadhaar, Passport, DL)
- For Self employed or professional proof of business identity is required (GST registration certificate, Udyam certificate, MOA in case of company, Partnership deed in case of Partnership firm)
- Salary slips and Latest Form No.16 for salaried (Last 2 yrs for HL and 3 yrs for LAP)
- Last 3 years income tax returns along with Audited financials and annexures for self-employed or professionals
- Bank statements for last 6 to 12 months
- Statement for a/c wherein salary is credited
- Main operative a/c if any other than salary a/c
For Self employed or Professionals
- Main operative a/c of business (Current/CC/OD a/c)
- Operative a/c of individual borrowers
Sanction letter of the current home loan
- Proof of ownership of property (All title chain documents since inception)
- In case of flats, allotment letter of builder/society, Builder Buyer agreement, Registered title deed. (Builder Flat/Society)
- Up to date tax paid receipt.
- Takeover institution Sanction letter and last 6 months EMI repayment track.
*Terms and conditions apply. All loans are at the sole discretion of Citibank N.A. Citibank reserves the right to ask for any additional documents from the applicant. Citibank reserves the right, at anytime, with prior notice to add / alter / modify / change or vary any of the Terms and conditions or to replace them, wholly or in part. Click here for Most Important Terms and conditions. Please refer to our Schedule of Charges.
Mortgage Loans are available only in Delhi-NCR, Mumbai, Pune, Bengaluru, Chennai, Hyderabad, Jaipur, Coimbatore, Ahmedabad, Chandigarh & Kolkata.
Citibank India does not market any product or service to individuals resident in the European Union, European Economic Area, Brazil, New Zealand, Switzerland, Guernsey, Jersey, Monaco, San Marino, Vatican, and The Isle of Man or the UK. This web page is not, and should not be construed as, an offer, invitation or solicitation to buy or sell any of the products and services mentioned herein to individuals resident in the European Union, European Economic Area, Brazil, New Zealand, Switzerland, Guernsey, Jersey, Monaco, San Marino, Vatican, and The Isle of Man or the UK.