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Citibank Fixed Rate Mortgage

Features

The Citibank Fixed Rate Mortgage offers repayment predictability and protection from interest rate volatility for as little as six months to as long as five years. This Citibank product offers a 60-day fixed rate lock from the application date, meaning you can secure the current fixed interest rate before your loan is settled.

Citibank also offers additional payments of up to $1,000 per month without penalty. The Citibank Fixed Rate Mortgage lets you make interest-only payments for up to five years, but doesn’t provide a redraw facility or an offset account. It’s possible to split the account a certain number of times with a minimum amount in each account, or you can combine the product with other Citibank products, such as Standard Variable and/or Mortgage Power to get access to other features and benefits.

Citibank will let you transfer your loan to a different property and also increase the loan amount during the life of the loan if you meet their serviceability criteria.

Who is the Citibank Fixed Loan good for?

This loan is suitable for investors and owner-occupiers who are looking for peace of mind and don’t like unexpected surprises cropping up in their budget. The Citibank Fixed Rate Mortgage might also appeal to refinancers looking to take advantage of low interest rates.

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Whether you’re buying your very first home, searching for an investment property or looking to refinance your current loan, Citibank’s Fixed Rate Mortgage could be worth considering if you’re someone who likes the security of knowing exactly how much your repayments will be.

Citibank’s interest-only payment terms will also appeal to investors who are looking to keep minimal capital in their investment property, or for anyone who wants the option of reducing their mortgage repayments at some point throughout the loan term.

Citibank’s Fixed Rate Mortgage offers reasonably competitive rates however there are a number of fees attached to this loan which need to be considered alongside the interest rate.

Citibank Fixed Rate Mortgage Options

Citibank offers a range of Fixed Rate Mortgage products, which might suit any borrowing situation. Click below to discover more about the terms of each product. Citibank Australia, owned by Citigroup has branches in major metropolitan areas in NSW, Victoria, Queensland and Western Australia. Citibank also has a 24/7 customer service centre and a comprehensive online platform.

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Advertised rate
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Monthly repayment
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Fixed Rates from

4.09%

Advertised rate

5.35%

Comparison rate
Pros
  • Ability to pay interest-only.
  • Portability.
  • Protection from market volatility.
Cons
  • Upfront and ongoing fees.
  • No offset or redraw options.
  • Break charges on additional repayments over $1,000 per month.
Eligibility

Subject to Citibank credit criteria.

Requires a deposit of at least 10 per cent.

Suitable For
  • First Home Buyers
  • Owner-Occupiers
  • Refinancers
  • Investors
Fees
  • Estimated upfront fees: $649
  • Discharge fees: $350
  • Ongoing fees: $8 monthly

The Citibank Fixed Rate Mortgage comes with a few upfront fees, including an application fee and a settlement fee. There’s also an ongoing monthly fee, although how much you pay will depend on if you decide to split your account and go with other products.

Citibank can also request fees for services, such as valuation, third-party involvement and credit limit increases, depending on the circumstances.

Features
  • Redraw facility
  • 100% offset account
  • Unlimited extra repayments
  • Monthly repayments
  • Loan allows split interest rate
  • Weekly repayments
  • Fortnightly repayments
About Citi

Citibank Australia, owned by Citigroup has branches in major metropolitan areas in NSW, Victoria, Queensland and Western Australia. Citibank also has a 24/7 customer service centre and a comprehensive online platform.

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