Citibank Fixed 1 Year

The Citibank 1-Year Fixed Rate home loan is just one of a whole range of fixed rate lending options that have been made available to Citibank’s clients. It is the Standard Fixed Rate mortgage and offers borrowers protections from rate rises while offering the security of knowing what payments will be each month.

It is one of six fixed rate loans that come with an initial fixed rate period lasting one year before reverting to the Citibank standard variable rate. You can truly have some peace, knowing how much your payments will be during this period.

There some other benefits included with the fixed rate mortgage. Most notably, there is a 60-day rate lock that is in place once you have applied for a loan. The lock guarantees the fixed rate for two months even if there is a rise in rates.

KEY BENEFITS

Here are some more benefits that will be available with all CITI 1-Year Fixed Rate Loans:

Additional Repayments

You will not have to pay penalties or early repayment fees if you make extra payments up to $1,000 extra each month or you add that amount to your regular monthly payments.

Interest Only Payment

You have a period of up to 5 years to make interest only payments before principal must be paid.

Portability

This loan product allows you to move your loan if you sell or get a new house.

Split Loans

You can divide up your loan into two separate loan accounts and incorporate the benefits of on one property.