• Citibank Property Financing

    Home Loan BYTES FROM OUR KITCHEN

    Overview

    Citibank is one the largest banks across the globe and was established in Singapore in the year 1902. Back in those days the bank was called the International Banking Corporation or IBC. This was the first bank from the United States to establish a branch in Singapore. In the year 1980, the bank established automated teller machines in Singapore, the first of its kind, and introduced the people to the entire concept. When compared to the other banks, Citibank is a relatively new comer in the retail banking sector. However, with great service and innovative products it has made its presence felt in different financial sectors like secured asset management, unsecured lending, investments, etc. The Global Consumer Banking division of the Citibank was established in the year 1982 so that it could meet the requirements of small businesses as well as individual customers. MAS (Monetary Authority of Singapore awarded Singapore with the QFB (Qualifying Full Bank) licence in the year 1992. As a QFB licenced bank, Citibank was the very first bank in Singapore which offered service for Visa global debit.

    Citibank offers financial products that are customisable and flexible. The property refinancing option offered by Citibank is a financial solution that comes with a lot of innovation and it never fails to cater to all the needs of the consumers.

    Why choose Citibank Property Financing Options?

    Citibank, being one of the best banks in the world, meets all the needs and requirements of the customers. It cares about the customers and has earned quite a lot of goodwill and reputation for its services and products. Their property financing options come with a lot of flexibility. Choosing one of them can definitely prove to be a wise call for you.

    Types of Citibank Property Financing Options

    • New Home Purchase
    • Refinance Your Mortgage
    • Overdraft or Cash out
    • Commercial Loan
    • Addition, Alterations or Reconstruction

    New Home Purchase

    You can apply for a home loan very easily with Citibank. Avail the IPA (In Principle Approval) and check the affordability and eligibility for the loan. It is better if you choose a property that is affordable by you. Obtain the OTP (Obtain to Purchase) when you make an offer. Submit both the OTP and IPA so that you get the formal approval for the loan amount. A lawyer will be there to help you when you apply to use the CPF funds. The lawyer will also assist you with the execution of the mortgage. All the valuation fees and legal charges must be paid during this time. If the property that you intend to purchase is a completed property, then the letter for the disbursement of the loan will be done only after the purchase is completed. For a property that is under construction, the letter for the disbursement of the loan will only be issued after the loan is disbursed. This will happen as per the instructions from the lawyer.

    You can choose from a wide range of packages that offer attractive rates of interest. You may also choose to switch across the SIBOR tenures. Access the dedicated team of Mortgage Client Care instantly.

    Refinancing Mortgage

    In case you already have an existing mortgage with a different bank, you might still want to go for an opportunity of refinancing the home loan with Citibank as you might get to save a lot more. May be the lock-in period for the current mortgage has already passed or you are currently paying and a rate of interest that is much higher than the present market rate. You financial goals should be the factor driving your decision towards going for a refinance. The environment of the prevalent rates of interest must be taken into consideration along with how much you can actually save on refinancing and the costs associated with the refinance.

    All that you need to do is submit the application for the loan along with all the documents that are required. On approval of the loan, you will be receiving a letter of offer from Citibank. In order to execute the mortgage, you will have to meet the lawyer. Provide any other document, if required and check if CPF is applicable. At this stage, valuation fees and legal charges are applicable. The letter for the disbursement of the loan can be availed by you after a period of three months from the date of redemption notice served by the lawyer to existing bank.

    There are different benefits associated with it. You can choose from a wide range of packages that offer lucrative rates of interest. You can also enjoy a lot of flexibility to makes switches across the tenures of SIBOR. Also, access to the Mortgage Client Care can be availed instantly.

    Overdraft or Cash out

    Cash out refinance is a particular type of loan where you can actually refinance the mortgage in order to get cash without selling off the property. You will have to pay the instalments on a monthly basis when the cash out loan is disbursed. The overdraft is basically a credit line that is extended to you by your bank. Whenever you make use of the credit line, you will have to pay the interests too.

    All that you need to do is submit the application for the loan along with all the documents that are required by the bank to initiate the process. The Letter of Offer will be received by you once the loan amount is approved by the bank. Once you receive it, you must put your signature on it. After that, meet the lawyer in order to execute the mortgage and provide more documents if required. At this stage, all the fees for valuation and legal charges will be applicable. The letter for the disbursement of the loan amount shall be sent to you within a span of seven days from the date of completion. A myriad of benefits are associated with loan. You can choose a suitable SIBOR tenure for yourself as per your convenience. The rates of interest that are available to you are also attractive and lucrative. You may avail the Mortgage Client Care team easily when you have any query.

    Commercial Loan

    Your business needs a lot of finance and Citibank is always there to help you. You can apply for a commercial loan that comes with attractive rates of interest. You can also enjoy the immense flexibility to switch between the SIBOR tenures. You may also avail dedicated service from the Mortgage Client Care. May it be a completed commercial property that you are looking at for investment or for setting up your own business, Citibank’s financial solutions are always there to help you in every way possible.

    Addition and Alterations or Reconstruction

    Citibank never fails to offer financial solutions that cater to all your needs. Maybe you wish to build a new home for yourself and your loved ones. Maybe you want to revamp a property that you just purchased. You might also wish to reconstruct your present property as per your convenience. For all of this, you can avail a loan from Citibank. It comes with lucrative rates of interest. You can speak with experts from the Mortgage Client Care division if you wish to know more about the procedure. The scheme is extremely flexible as it allows you to choose from a wide range of SIBOR tenures. Avail this particular loan and use the amount to turn that dream home to reality.

    Explore the Other Loans Offered By Citibank Bank:

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