Citibank Loan Against Property Interest Rates 2016

Loan Against Property

One of the leading banks of India, Citibank provides property power loan or loan against property at competitive interest rates starting from 10.25% p.a and longer tenure period of 15 years. Citibank loan against property is available with the maximum loan amount of Rs. 5 Crores and low processing fee and no prepayment charge.

Citibank Loan Against Property Details

ParticularsDetails
Interest Rate10.25% p.a. to 11.50% p.a.
Loan AmountResidential Property – Up to Rs. 5 Crores
Commercial Property – Up to Rs. 3 Crores
TenureUp to 15 years
Processing FeesNot specified
Repayment Mode

EMI
Prepayment Charges

NIL
EMI per lac

Rs. 1,090 (at 10.25% for 15 years)

Features & Benefits of Citibank Loan Against Property

Citibank mortgage loan or loan against property or property power loan has many benefits and unique features. Some of them are as follows:

  • Loan amount up to Rs. 5 Crores against residential property
  • Loan amount up to Rs. 3 Crores against commercial property
  • Interest rates ranging from 10.25% p.a to 11.50% p.a
  • Loan up to 70% of your property value
  • Flexible repayment tenure period up to 15 years
  • Multi-purpose loan for starting a business or purchasing a new property, clearing old debts, marriage, child education or for any personal needs 
  • Special feature for child's education – Loans up to Rs. 20 lacs for studies abroad, loans up to Rs. 10 lacs for studies in India, eligibility basis parent's income who is the main applicant on the loan
  • Top-up loan available on existing Citibank loan against property
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Eligibility Criteria

The list of who all can apply for Citibank loan against property are as follows:

  • Individual of at least 23 years of age
  • Salaried individual of maximum 60 years of age
  • Self-employed individuals of maximum 65 years of age
  • Salaried individuals with at least 3 years of working experience
  • Self-employed individuals with at least 2 years of cash profit

Documents required for Citibank Loan Against Property

Here is the list of all the documents you need to have to apply for Citibank loan against property or Citibank mortgage loan:

For Salaried Individuals:

  • Filled up loan application form
  • 2 Passport size photos
  • Last 2 years ITR
  • Identity proof (Passport/Driving License/Voter ID/PAN Card)
  • Residential address (Leave and License/Registered Rent Agreement/Utility bill up to 3 months/Passport)
  • Last 6 months salary slip
  • Last 2 years Form 16
  • Last 6 months bank statement showing salary credit

For Self-employed Individuals:

  • Filled up loan application form
  • 2 Passport size photos
  • Last 2 years ITR
  • Identity proof (Passport/Driving License/Voter ID/PAN Card)
  • Residential address (Leave and License/Registered Rent Agreement/Utility bill up to 3 months/Passport)
  • Business proof such as VAT/service tax registration
  • Incorporation details in case of companies
  • Business address proof
  • Proft and loss account
  • Balance sheet certified by CA
  • Copy partnership in case of partnership business

Other documents required for Citibank Loan Against Property

  • Registered Sale Deed/Conveyance/Lease Deed
  • Details of last EMIs paid
  • Latest House Tax Return/Receipt
  • Approved property plan

How to Apply for Citibank Loan Against Property

To get the loan against property from Citibank, you have to submit the self-attested copy of all the KYCs along with the filled up loan application form and the property documents to the nearest Citibank branch.

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Citibank Loan Against Property EMI Calculator

EMI means the amount you have to pay every month for the loan you have taken. In the EMI calculator, you can select the rate of interest, loan amount and the tenure period as per your choice and know how much you will have to pay every month. For eg. If you are taking a loan of Rs. 10,00,000 at the rate of interest 10.25% p.a for a tenure period of 15 years, the EMI will be Rs. 10,900.

To know more about the EMIs, total interest outgo and the total amount for different rate of interest  and tenure period, refer to the table given below:

Table for EMI per month, Total Interest Outgo and Total Amount

Amount (in Rs.)Rate of Interest (p.a)Loan Tenure (in year)EMI (in Rs.)Total Interest Outgo (in Rs.)Total Amount (Principal + Interest) (in Rs.)
10,00,00010.25% - 11.50%188,032 - 88,61556,386 - 63,38110,56,386 - 10,63,381
10,00,00010.25% - 11.50%246,260 - 46,8401,10,250 - 1,24,16811,10,250 - 11,24,168
10,00,00010.25% - 11.50%332,385 - 32,9761,65,849 - 1,87,13611,65,849 - 11,87,136
10,00,00010.25% - 11.50%425,483 - 26,0892,23,175 - 2,52,27212,23,175 - 12,52,272
10,00,00010.25% - 11.50%521,370 - 21,9932,82,216 - 3,19,55612,82,216 - 13,19,556
10,00,00010.25% - 11.50%618,652 - 19,2913,42,955 - 3,88,96313,42,955 - 13,88,963
10,00,00010.25% - 11.50%716,731 - 17,3864,05,374 - 4,60,46314,05,374 - 14,60,463
10,00,00010.25% - 11.50%815,307 - 15,9794,69,450 - 5,34,02014,69,450 - 15,34,020
10,00,00010.25% - 11.50%914,214 - 14,9045,35,157 - 6,09,59515,35,157 - 16,09,595
10,00,00010.25% - 11.50%1013,354 - 14,0606,02,468 - 6,87,14516,02,468 - 16,87,145
10,00,00010.25% - 11.50%1112,662 - 13,3846,71,351 - 7,66,62216,71,351 - 17,66,622
10,00,00010.25% - 11.50%1212,096 - 12,8337,41,774 - 8,47,97617,41,774 - 18,47,976
10,00,00010.25% - 11.50%1311,626 - 12,3798,13,700 - 9,31,15218,13,700 - 19,31,152
10,00,00010.25% - 11.50%1411,233 - 12,0018,87,092 - 10,16,09318,87,092 - 20,16,093
10,00,00010.25% - 11.50%1510,900 - 11,6829,61,912 - 11,02,74219,61,912 - 21,02,742
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Amortization Table

YearPrincipal InterestBalance Amount
129,668 - 26,556101,132 - 1,13,6289,70,332 - 9,73,444
232,857 - 29,77597,943 - 1,10,4099,37,475 - 9,43,669
336,385 - 33,38694,415 - 1,06,7989,01,090 - 9,10,283
440,297 - 37,43490,503 - 1,02,7508,60,793 - 8,72,849
544,626 - 41,97286,174 - 98,2128,16,167 - 8,30,877
649,422 - 47,06181,378 - 93,1237,66,745 - 7,83,816
754,733 - 52,76876,067 - 87,4167,12,012 - 7,31,048
860,615 - 59,16870,185 - 81,0166,51,397 - 6,71,880
967,128 - 66,34163,672 - 73,8435,84,269 - 6,05,539
1074,340 - 74,38756,460 - 65,7975,09,929 - 5,31,152
1182,328 - 83,40748,472 - 56,7774,27,601 - 4,47,745
1291,174 - 93,52139,626 - 46,6633,36,427 - 3,54,224
131,00,974 - 1,04,86129,826 - 35,3232,35,453 - 2,49,363
141,11,823 - 1,17,57618,977 - 22,6081,23,630 - 1,31,787
151,23,721 - 1,31,8976,962 - 8,3500

Citibank Loan Customer Care

For further details on Citibank loan, you can contact the customer care on toll-free no. for your location.