Citi home loan repayment calculator

Thinking about taking out a home loan with Citi? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Citi home loans compare with other options.

I'd like to borrow

$

I am an

Loan term

With a repayment type

Your estimated repayments

at interest rate 2.64 %

Total interest payable

$0

Total amount payable

$0

Pros and cons

Pros
  • Global player.
  • Very flexible loan products.
  • Full range of financial services available.
  • Competitive fixed rate loans available.
Cons
  • High fees.

Citi home loans rates

Product
Advertised Rate
Total estimated upfront fees
Comparison Rate*
Ongoing fee
Go to site
Company

2.64%

Variable

$649

2.69%

$0
Citi
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2.74%

Variable

$649

2.89%

$8 monthly
Citi
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2.89%

Variable

$649

2.94%

$0
Citi
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2.19%

Fixed - 3 years

$250

3.00%

$350 annually
Citi
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2.19%

Fixed - 2 years

$250

3.04%

$350 annually
Citi
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2.99%

Variable

$649

3.04%

$0
Citi
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2.59%

Fixed - 5 years

$250

3.08%

$350 annually
Citi
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2.19%

Fixed - 1 year

$250

3.09%

$350 annually
Citi
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2.74%

Variable

$250

3.14%

$350 annually
Citi
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2.99%

Variable

$649

3.14%

$8 monthly
Citi
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3.14%

Variable

$649

3.19%

$0
Citi
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2.44%

Fixed - 3 years

$250

3.24%

$350 annually
Citi
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3.09%

Variable

$649

3.24%

$8 monthly
Citi
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3.09%

Variable

$250

3.24%

$350 annually
Citi
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2.44%

Fixed - 2 years

$250

3.29%

$350 annually
Citi
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3.24%

Variable

$649

3.29%

$0
Citi
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2.84%

Fixed - 5 years

$250

3.32%

$350 annually
Citi
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2.44%

Fixed - 1 year

$250

3.33%

$350 annually
Citi
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2.49%

Fixed - 3 years

$250

3.33%

$350 annually
Citi
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2.74%

Fixed - 1 year

$250

3.34%

$350 annually
Citi
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2.49%

Fixed - 2 years

$250

3.37%

$350 annually
Citi
More details

2.99%

Variable

$250

3.38%

$350 annually
Citi
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2.89%

Fixed - 5 years

$250

3.40%

$350 annually
Citi
More details

2.49%

Fixed - 1 year

$250

3.42%

$350 annually
Citi
More details

3.34%

Variable

$250

3.49%

$350 annually
Citi
More details

3.34%

Variable

$250

3.49%

$350 annually
Citi
More details

3.34%

Variable

$649

3.49%

$8 monthly
Citi
More details

3.34%

Variable

$649

3.49%

$8 monthly
Citi
More details

2.74%

Fixed - 3 years

$250

3.57%

$350 annually
Citi
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2.79%

Fixed - 3 years

$250

3.58%

$350 annually
Citi
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2.74%

Fixed - 2 years

$250

3.62%

$350 annually
Citi
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2.79%

Fixed - 2 years

$250

3.63%

$350 annually
Citi
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3.14%

Fixed - 5 years

$250

3.64%

$350 annually
Citi
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3.19%

Fixed - 5 years

$250

3.66%

$350 annually
Citi
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2.79%

Fixed - 1 year

$250

3.67%

$350 annually
Citi
More details

2.59%

Fixed - 5 years

$649

4.22%

$8 monthly
Citi
More details

2.84%

Fixed - 5 years

$649

4.32%

$8 monthly
Citi
More details

2.89%

Fixed - 5 years

$649

4.34%

$8 monthly
Citi
More details

3.14%

Fixed - 5 years

$649

4.44%

$8 monthly
Citi
More details

3.19%

Fixed - 5 years

$649

4.46%

$8 monthly
Citi
More details

2.19%

Fixed - 3 years

$649

4.47%

$8 monthly
Citi
More details

2.44%

Fixed - 3 years

$649

4.54%

$8 monthly
Citi
More details

2.49%

Fixed - 3 years

$649

4.55%

$8 monthly
Citi
More details

2.74%

Fixed - 3 years

$649

4.62%

$8 monthly
Citi
More details

2.79%

Fixed - 3 years

$649

4.63%

$8 monthly
Citi
More details

2.19%

Fixed - 2 years

$649

4.71%

$8 monthly
Citi
More details

2.44%

Fixed - 2 years

$649

4.75%

$8 monthly
Citi
More details

2.49%

Fixed - 2 years

$649

4.76%

$8 monthly
Citi
More details

2.74%

Fixed - 2 years

$649

4.81%

$8 monthly
Citi
More details

2.79%

Fixed - 2 years

$649

4.81%

$8 monthly
Citi
More details

2.19%

Fixed - 1 year

$649

4.96%

$8 monthly
Citi
More details

2.44%

Fixed - 1 year

$649

4.98%

$8 monthly
Citi
More details

2.49%

Fixed - 1 year

$649

4.99%

$8 monthly
Citi
More details

2.74%

Fixed - 1 year

$649

5.01%

$8 monthly
Citi
More details

2.79%

Fixed - 1 year

$649

5.02%

$8 monthly
Citi
More details

Citi customer service

Citibank has a 24/7 support via its website. Some of its services for members and prospective borrowers include mortgage brokers, a live chat service and a inbound call centre. Customers can access their funds via a large network of Citibank ATMs located around Australia.

  • Customer service centre (phone, email, branch)
  • Online banking
  • Live Chat
  • Mobile banking staff

How to Apply

Borrowers can apply for a Citibank loan online or arrange for a consultation with a customer service representative. Before applying for a home loan it is advisable to think about how much money you could conceivably borrow given your financial situation and income. You will also need to provide documentation when applying for a home loan. This will include:

  • Personal identification material.
  • Proof of income and other earnings.
  • Proof and type of employment.
  • Details of current loans, debts and liabilities.
  • Personal insurance documents.

About Citibank home loans

There are a variety of home loans offered by Citibank:

  • Owner-occupied
  • Investment
  • First home buyers
  • Refinancers
  • Upgraders
  • Renovators
  • Overseas home buyers
  • Line of credit
  • Self-employed (low-doc)

Citibank home loans also come with several interest rate options:

  • Variable rate
  • Fixed rate
  • Principal and interest
  • Interest-only
  • Split loans

The longest home loan term offered by Citibank is 30 years. Repayments can be made weekly, fortnightly or monthly. Several of its products allow borrowers to use parents as guarantors, and also offer mortgages up to 90 per cent of the home’s value.

The fixed-term interest rates offered by Citibank range from six months to five years. Many of its products also offer offset accounts, redraw services and the option to make extra payments.

A rare service that Citibank offers is mortgages for non-Australian citizens and non-permanent residents. However, the bank doesn’t offer superannuation home loans for SMSFs or reverse mortgages for seniors.

Citibank home loan rates

Home loan interest rates vary significantly with Citibank, depending on the borrower’s situation. There are different interest rates for owner-occupied mortgages compared to investment mortgages. Line of credit home loans also have significantly higher interest rates than standard home loans.

Owner-occupied home loans generally have moderate interest rates compared to other lenders in Australia. Investment home loans offered by Citibank also tend to be moderate for borrowers paying interest and principal.

Citibank’s upfront fees tend to be moderately high, but the ongoing mortgage fees are moderate to moderately low. The bank does, however, offer discounts on fees if home loans are bundles with other Citibank products like credit cards. It also advertises interest rate discounts for borrowers with loan-to-value ratios (LVRs) below 80 per cent.

It’s worth comparing the current interest rates and fees at Citibank to make sure you are getting the best home loan rates for your situation.

Citibank home loan review

Citibank’s home loan portfolio is significantly smaller than that of the big four banks, but it delivers certain perks and flexibility to its customers.

For self-employed borrowers, Citibank offers home loans that come with the same interest rates and home loan options as its other owner-occupied mortgages. The investment home loans are also flexible, with the ability to get line of credit and interest-only for several years. As a foreign-owned bank, it also caters for overseas buyers, offering specific home loan products and services to suit non-citizens and non-permanent residents of Australia.

Overall, Citibank’s interest rates are moderate compared to other banks in Australia, but Citibank does offer discounts on home loan packages, as well as rewards that are on top of their advertised rates.

Although Citibank doesn’t have many branches, it has a team of mobile mortgage specialists across the country.

Learn more about Citi

What is 'principal and interest'?

‘Principal and interest’ loans are the most common type of home loans on the market. The principal part of the loan is the initial sum lent to the customer and the interest is the money paid on top of this, at the agreed interest rate, until the end of the loan.

By reducing the principal amount, the total of interest charged will also become smaller until eventually the debt is paid off in full.

What is a bad credit home loan?

A bad credit home loan is a mortgage for people with a low credit score. Lenders regard bad credit borrowers as riskier than ‘vanilla’ borrowers, so they tend to charge higher interest rates for bad credit home loans.

If you want a bad credit home loan, you’re more likely to get approved by a small non-bank lender than by a big four bank or another mainstream lender.

How can I get a home loan with bad credit?

If you want to get a home loan with bad credit, you need to convince a lender that your problems are behind you and that you will, indeed, be able to repay a mortgage.

One step you might want to take is to visit a mortgage broker who specialises in bad credit home loans (also known as ‘non-conforming home loans’ or ‘sub-prime home loans’). An experienced broker will know which lenders to approach, and how to plead your case with each of them.

Two points to bear in mind are:

  • Many home loan lenders don’t provide bad credit mortgages
  • Each lender has its own policies, and therefore favours different things

If you’d prefer to directly approach the lender yourself, you’re more likely to find success with smaller non-bank lenders that specialise in bad credit home loans (as opposed to bigger banks that prefer ‘vanilla’ mortgages). That’s because these smaller lenders are more likely to treat you as a unique individual rather than judge you according to a one-size-fits-all policy.

Lenders try to minimise their risk, so if you want to get a home loan with bad credit, you need to do everything you can to convince lenders that you’re safer than your credit history might suggest. If possible, provide paperwork that shows:

  • You have a secure job
  • You have a steady income
  • You’ve been reducing your debts
  • You’ve been increasing your savings

Does Australia have no-deposit home loans?

Australia no longer has no-deposit home loans – or 100 per cent home loans as they’re also known – because they’re regarded as too risky.

However, some lenders allow some borrowers to take out mortgages with a 5 per cent deposit.

Another option is to source a deposit from elsewhere – either by using a parental guarantee or by drawing out equity from another property.

Who offers 40 year mortgages?

Home loans spanning 40 years are offered by select lenders, though the loan period is much longer than a standard 30-year home loan. You're more likely to find a maximum of 35 years, such as is the case with Teacher’s Mutual Bank

Currently, 40 year home loan lenders in Australia include AlphaBeta Money, BCU, G&C Mutual Bank, Pepper, and Sydney Mutual Bank.

Even though these lengthier loans 35 to 40 year loans do exist on the market, they are not overwhelmingly popular, as the extra interest you pay compared to a 30-year loan can be over $100,000 or more.

Are bad credit home loans dangerous?

Bad credit home loans can be dangerous if the borrower signs up for a loan they’ll struggle to repay. This might occur if the borrower takes out a mortgage at the limit of their financial capacity, especially if they have some combination of a low income, an insecure job and poor savings habits.

Bad credit home loans can also be dangerous if the borrower buys a home in a stagnant or falling market – because if the home has to be sold, they might be left with ‘negative equity’ (where the home is worth less than the mortgage).

That said, bad credit home loans can work out well if the borrower is able to repay the mortgage – for example, if they borrow conservatively, have a decent income, a secure job and good savings habits. Another good sign is if the borrower buys a property in a market that is likely to rise over the long term.

What happens to my home loan when interest rates rise?

If you are on a variable rate home loan, every so often your rate will be subject to increases and decreases. Rate changes are determined by your lender, not the Reserve Bank of Australia, however often when the RBA changes the cash rate, a number of banks will follow suit, at least to some extent. You can use RateCity cash rate to check how the latest interest rate change affected your mortgage interest rate.

When your rate rises, you will be required to pay your bank more each month in mortgage repayments. Similarly, if your interest rate is cut, then your monthly repayments will decrease. Your lender will notify you of what your new repayments will be, although you can do the calculations yourself, and compare other home loan rates using our mortgage calculator.

There is no way of conclusively predicting when interest rates will go up or down on home loans so if you prefer a more stable approach consider opting for a fixed rate loan.

What is a comparison rate?

The comparison rate is a more inclusive way of comparing home loans that factors in not only on the interest rate but also the majority of upfront and ongoing charges that add to the total cost of a home loan.

The rate is calculated using an industry-wide formula based on a $150,000 loan over a 25-year period and includes things like revert rates after an introductory or fixed rate period, application fees and monthly account keeping fees.

In Australia, all lenders are required by law to publish the comparison rate alongside their advertised rate so people can compare products easily.

Do the big four banks have guarantor home loans?

Yes, ANZ, Commonwealth Bank, NAB and Westpac all offer guarantor home loans. These mortgages are also offered by many other banks, credit unions and building societies.

What are the pros and cons of no-deposit home loans?

It’s no longer possible to get a no-deposit home loan in Australia. In some circumstances, you might be able to take out a mortgage with a 5 per cent deposit – but before you do so, it’s important to weigh up the pros and cons.

The big advantage of borrowing 95 per cent (also known as a 95 per cent home loan) is that you get to buy your property sooner. That may be particularly important if you plan to purchase in a rising market, where prices are increasing faster than you can accumulate savings.

But 95 per cent home loans also have disadvantages. First, the 95 per cent home loan market is relatively small, so you’ll have fewer options to choose from. Second, you’ll probably have to pay LMI (lender’s mortgage insurance). Third, you’ll probably be charged a higher interest rate. Fourth, the more you borrow, the more you’ll ultimately have to pay in interest. Fifth, if your property declines in value, your mortgage might end up being worth more than your home.

How can I calculate interest on my home loan?

You can calculate the total interest you will pay over the life of your loan by using a mortgage calculator. The calculator will estimate your repayments based on the amount you want to borrow, the interest rate, the length of your loan, whether you are an owner-occupier or an investor and whether you plan to pay ‘principal and interest’ or ‘interest-only’.

If you are buying a new home, the calculator will also help you work out how much you’ll need to pay in stamp duty and other related costs.

How do I know if I have to pay LMI?

Each lender has its own policies, but as a general rule you will have to pay lender’s mortgage insurance (LMI) if your loan-to-value ratio (LVR) exceeds 80 per cent. This applies whether you’re taking out a new home loan or you’re refinancing.

If you’re looking to buy a property, you can use this LMI calculator to work out how much you’re likely to be charged in LMI.

What happens when you default on your mortgage?

A mortgage default occurs when you are 90 days or more behind on your mortgage repayments. Late repayments will often incur a late fee on top of the amount owed which will continue to gather interest along with the remaining principal amount.

If you do default on a mortgage repayment you should try and catch up in next month’s payment. If this isn’t possible, and missing payments is going to become a regular issue, you need to contact your lender as soon as possible to organise an alternative payment schedule and discuss further options.

You may also want to talk to a financial counsellor. 

How personalised is my rating?

Real Time Ratings produces instant scores for loan products and updates them based what you tell us about what you’re looking for in a loan. In that sense, we believe the ratings are as close as you get to personalised; the more you tell us, the more we customise to ratings to your needs. Some borrowers value flexibility, while others want the lowest cost loan. Your preferences will be reflected in the rating. 

We also take a shorter term, more realistic view of how long borrowers hold onto their loan, which gives you a better idea about the true borrowing costs. We take your loan details and calculate how much each of the relevent loans would cost you on average each month over the next five years. We assess the overall flexibility of each loan and give you an easy indication of which ones are likely to adjust to your needs over time. 

How often is your data updated?

We work closely with lenders to get updates as quick as possible, with updates made the same day wherever possible.