Citibank Mortgage Plus Professional

The Citibank 5-Year Fixed Rate home loan has the longest fixed rate term available through the lender. This provides you five years with the same discounted fixed before you must switch over and start paying Citibank’s Standard Variable Rate. Still, the fixed rate home loan is an appealing option when you want the reliability of stable payments each month rather than waiting to see what the interest rates will do.

The fixed rate loan comes with a 60-day rate lock which is free of charge and can be used to secure a cheaper interest rate when you first apply for financing. This and a few other basic features make the 5-Year Fixed Rate loan a excellent option.

KEY BENEFITS

The following benefits are associated with all of Citibank’s Fixed Rate home loans.

Additional Repayment

No early repayment fees will be charged if you are making additional repayments on your home loan provided the money does not exceed $1,000 monthly.

Split Loans

You can split your loan up between four different loan accounts, utilizing the benefits of each type at different phases of repayment so you are making the best use of them all.

Loan Portability

This means that you can transfer your loan to a different property whether it is a better house or if you have decided to sell an existing property.

Interest Only Feature

This gives you a five-year term wherein you can make interest-only payments on your loan. After the term expires, you are required to pay both the monthly interest and the principal.