Citibank Fixed 2 Years

The Citibank 2-Year Fixed Rate home loan is one of Citibank’s six fixed rate home loan product. It is based on the Standard Fixed Rate loan and prevents the interest rates from increases every month for a set term. This makes it a safer option for some borrowers since the consistent rate makes for stable payments each month.

This loan has a fixed rate term that lasts for two years before lapsing to the standard variable rate. It can be a great way prepare for the changing rates that come later.

Citibank’s fixed rate loan has other benefits that make it attractive to borrowers. The sixty day rate lock is one example. With it, you can set your rates after applying and not have to worry about them changing before the financing is approved.

KEY BENEFITS

Take a look at the key features offered with CITI 2-Year Fixed Rate Loans:

Additional Payment

There are no fees or penalties if you decided to pay extra on your mortgage or add money to regular monthly payments if you do not exceed $1,000 a month.

Interest Only Facility

This option gives you with an period of up to five years wherein you only pay interest. Once this ends, your payments will return to an interest and principal.

Ability to Split Loan

This allows you to split the loan up between different types of loans so you are paying and benefiting from the features of both on one account.

Portability

Should you choose to sell the property or upgrade your current one, you can have the loan move to the new account.