Citibank Fixed Rate Loan

It’s rarely a good thing when you hear that interest rates are going up and lately it seems that that’s all you hear. So if you want the peace of mind that having a fixed rate mortgage gives then you should consider a Citibank fixed rate mortgage which has a range of features you’d be happy to lock into.

Features and options of the Citibank Fixed Rate Mortgage

Citibank offers features and options on their fixed rate home loan to help the home loan customer choose a loan term that’s right for their financial situation, including:

• Extra repayments. With a Citibank fixed rate home loan you get the option of being able to make extra repayments of up to $1000 per month. This means that you are able to reduced your fixed home loan’s balance saving you interest charges and reducing the length of your loan.

• Fixed interest rate. Having a fixed interest rate means that the interest rate is locked in and can’t be changed by you or the bank for the agreed term. Fixed rate home loans also give you the peace of mind knowing that the loan repayments will be the same each time. Citibank offers a range of fixed terms of six months to five years so you are sure to find a term that you feel comfortable with.

• Interest only option. The interest only option that’s offered by Citibank on their fixed rate mortgage lets the borrower reduce the amount of money that they have to pay each month by letting them pay just the interest. This means that you only have to pay the interest instead of the normal principle and interest option. It’s important for the borrower to remember that when you’re using this option that you won’t be reducing the balance of your home loan, you can make use of the interest only option for up to five years.

• Home loan usage. The Citibank fixed rate home loan can be used by customers that would like to borrow money to purchase a residential property between the value of $50,000 and $4,000,000. You are able to borrow up to 90% of the property’s value if you have mortgage insurance over a term of thirty years.

• Self certified. This loan is available as a low doc version so it can be used by self employed people who do not have to show proof of income, and can instead sign a declaration, certifying their income amount without documentation.

• Splitting option. The splitting option allows you to have the best of both worlds, this is done by letting you split your home loan into different parts for example if you have a home loan for $540,000 and would like to enjoy the flexibility of a variable rate home loan but reduce the impact of interest rate rises you could have $400,000 as a fixed rate loan and $140,000 as a variable rate loan.

• Fees and charges. The main fees and charges on a Citibank fixed rate home loan are as follows:
  A $250 settlement fee
  An $8 monthly fee
  A $399 application fee
  Other fees and charges may apply depending to the options that you use.

Read the Citibank Fixed Rate Loan terms and conditions.

• Comparison of Top 10 Credit Card Offers

Top Home Loans

Home Loan	Details	Interest Rate (p.a.)	Comp Rate^ (p.a.)	App Fee / Ongoing Fee	Max LVR	Min & Max Borrowing
Loans.com.au - Dream Catcher​	A home loan offer with a $0 application fee and one of the lowest available home loan interest rates.	5.85%	6.21%	$0 / $375	80%	$50,000 / $750,000
Bankwest Online Home Loan	A low interest rate home loan with a $0 application fee and ongoing maintenance fees. This offer is exclusively available by applying online.	5.97%	5.97%	$0 / $0	80%	$100,000 / $1,000,000
Illawarra Home Loans Bank Beater Home Loan	A low variable rate, beaten down even further by 0.05% p.a. after 5 years.	6.07%	6.35%	$0 / $345	90%	$250,000 / $1,000,000
State Custodians Mortgage Company Standard Variable Offset Loan	Awarded the 2011 Non bank Lender of the Year this feature-packed loan rewards customers with a bonus rate drop of 0.25% after 5 years.	6.02%	6.23%	$0 / $345	95%	$150,000 / $1,000,000