Mortgage Plus Standard Variable Mortgage Plus Standard Variable LVR 80% ($150,000 - $499,999) (Principal & Interest) (Owner Occupied)

  • 4.22%
    p.a Standard Variable
  • 4.37%
    p.a Comparison**
  • $250
    Upfront fees
  • $350
    Annual fees
  • 80%
    Max Lvr
  • $1,919
    Per Month*

About Citibank

Citibank in Australia is part of Citigroup, one of the world's largest financial services organisations. Citibank commenced consumer operations in Australia in 1985 when it was the first foreign bank to be granted a banking licence. By combining local expertise with the strength of Citibank's worldwide consumer banking network, they’re able to offer not only a sophisticated range of products by Australian standards, but some of the world's leading range of financial services including deposit accounts, foreign currency deposits and investments, credit cards, mortgages and insurance.

Standard Variable

Repayments calculated to take into account ongoing monthly and anual fees.

Monthly repayment*
$1,919
rate per annum
4.22%

Loan to Value Ratio

Borrow up to the maxium of 80% of the value of the property.

Lenders Mortgage Insurance, or LMI, will be payable on most loans where the borrowings are greater than 80% of the value of the property.

However, you may be able to capitalise LMI into your loan, increasing the overall loan amount by about 2% (in order to cover the cost of the insurance). Contact a loan market broker to find out how LVR and LMI might impact the cost of your loan repayments.

Lvr
80%
Capitalise LMI
No

Availability

For ["Equity", "Owner Occupied", "Vacant Land"], in ["NSW", "NT", "QLD", "SA", "WA", "VIC", "TAS", "ACT"].

Term
1 - 30 years
Min
$150,000
Max
$499,999

Eligibility

The level of financial documentaion and credit history required to apply for the loan.

Financials
Full Doc
Credit History
Conforming
Genuine Saving
Required

Redraw Facility

Get quick access to cash by drawing on the loan to pay for renovations or other purchases.

Redraw Facility
Yes
Min Redraw
$0
Redraw fee
$0

Banking Features

Given the wide range of loans on offer – with different interest rates, product features and fees – it pays to shop around to find the loan that fits your needs and circumstances. Some loans offer features that may be appropriate for your situation and result in savings over the life of the loan.

Some features you may wish to consider include:

  • an offset account;
  • ability to make extra repayments;
  • a redraw facility; and
  • linked credit card and savings accounts;
  • ability to split your loan between fixed and variable interest rates
Offset Account
Yes
Redraw Available
Yes
Credit Card
Yes
Internet Banking
Yes
Telephone Banking
Yes
BPay Option
No
Portability of Loan
Yes
Professional Pack
Yes
Check Account
Yes
Direct Salary Credit
No
Free Transactions
Yes
Minimum Redraw
No
Redraw Fee
No

Repayments

You can make your repaments Fortnightly, Monthly, and Weekly.

Interest Only Option
No
Max Interest Only
0 years

Upfront Fees

Upfront fess associated with estabilishing the loan. Other loan set-up fees, such as valuation fees and lender's mortgage insurance, and Government charges, such as registration fees and stamp duty on property transfer, have not been included. These will be determined after application.

Total
$250
Settlement
$250

Ongoing Fees

Monthly and annual fees and charges during the loan period.

Total
$350
Ongoing Yearly
$350

Exit Fees

Fees associated with prematurely ending the loan.

Total
$350
Exit
$350
Early Repayment
$0
Switch To Fixed
$0

Notes

For new to bank customers with lending <$500K, the maximum cash out will be capped at 5% of the loan being refinanced. (Note Cash out includes credit card/personal loan consolidation) Citibank Mortgage Plus is a package that includes a discounted home loan interest rate, an eligible Credit Card with zero or reduced annual fees and a Citibank Plus account. Package Eligibility: 1. Loan facility of at least $150,000 2. An eligible Credit Card held by at least one of the borrowers 3. A Citibank Plus account held by at least one of the borrowers 4. Personal, company and trust borrowers only (excludes overseas borrowers) 5. Self-Certified loans are excluded. Home Loan product(s) that qualify: Mortgage Power, Standard Variable Mortgage and Standard, Variable Offset Mortgage. Product combination: Mortgage Power, Standard Variable, Standard Variable Offset and Standard Fixed. Eligible credit cards available: Citibank Rewards Credit Card – Platinum Citibank Rewards Credit Card – Signature No annual fee credit cards (No annual fees apply as long as you hold a Mortgage Plus package): Citibank Rewards Credit Card – Platinum ($0 fee) Annual fee credit cards (The discounts on the Credit Card annual fees are available as long as you hold a Mortgage Plus package. Enrolment fee may apply for Qantas direct earn rewards program): Citibank Rewards Credit Overseas Income/Borrowers Accordingly given increasing difficulty in confirming income from certain countries and to maintain a balance

LVR Notes

Security restrictions apply. Loan Security Ratios (LSRs) will vary for metro, regional, national, citi zone 1 and 2, as per max loan amounts. Please refer to Credit Guidelines in document library or Citibank website. Acceptable Residential Vacant Land: Not more than 2 hectares. Maximum LSR 65% in Citi Zone 2 (with no LMI).Please refer to Credit Guidelines for max loan amounts for vacant land.

Notes

For loans requiring LMI: Where the LSR is above 85%, the borrower must provide at least 5% of the purchase price from genuine savings. For loans not requiring LMI: While there is no genuine savings requirement, applicants will have to provide evidence of funds to complete the transaction. The funds can be: - Gifts – a statutory declaration is required stating that the funds is gift and is not required to be repaid. - Borrowed – must be included in the serviceability calculation.

Fee Notes

Product/Interest switch fee: Nil (for eligible products within the Mortgage Plus package). Fee per split: Nil – Maximum of 4 splits allowed per facility. Credit limit rearrangement: Nil

*Monthly Repayments

Monthly repayments are calculated to take into account the loan amount, repayment term and ongoing fees and charges over the life of the loan.

  • Variable rate loans show the monthly repayments at the current rate.
  • Fixed rate loans show the monthly repayment during the fixed period only.
  • Monthly repayment calculations are an approximate guide only. Speak to a LoanMarket Mortgage broker to understand the exact cost of a loan given your particular circumstances.

**Comparison Rates

A comparison rate is a tool to help consumers identify the true cost of a loan. It factors in the interest rate, loan amount, repayment term and ongoing fees and charges and displays this as a single percentage rate that can be used to compare various loans from different lenders.

Monthly Repayment and Comparison Rate* calculations do not include:

  • The use of account features such as early repayments and offset accounts which vary widely among loans and can reduce the cost of a loan significantly.
  • Cost savings such as fee waivers or special rate discounts.
  • Fees and charges associated with loan options or events that may or may not be used by the borrower, such as early repayment or redraw fees
  • Lenders Mortgage Insurance (LMI) which may be required to secure the loan and can increase the cost of the loan.
  • Government charges such as stamp duty or mortgage registration fees.
  • Fees and charges which aren’t available at the time the comparison rate is provided