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Citibank Home Loan 2.74% Owner, 2.99% Investor, Fixed 1-5 Yrs, Variable 2.96% Owner, 3.29% Investor PLUS 0.3% Bundle Loan Rebate


Hi All

We know rates are tipped to drop, but given banks are only passing on around half of the cuts, a low fixed rate can still save you more money as you can get an immediate benefit from today as opposed to waiting for the drops, so worth doing a calculation for your situation, eg:

If your rate is 3.24%, fixing at 2.74% will save you 0.5% each year.
On a $500k loan, that is a saving of $2500 every year.
Given many banks are only passing on 0.1-0.15% each cut, how many cuts will it take to catch up to the immediate benefit of 0.5% from today? I would say at least 4-5 times, bearing in mind the longer delay in the cut, the more you are paying each day.

If you're saving 0.5% and go with a lender giving rebates eg. St George 2.94% plus $2000 bank rebate, plus our Bundle Rebate of $1500, that's a further $3500 in rebates, plus $2500 interest savings, you are getting a benefit of $6000 in just one year!

Excellent 1-5 year fixed rates at Citibank:

2.74% owner occupied CPR 3.26%
2.99% Investor CPR 3.55%

Plus FREE rate lock for 60 days from submission (most lenders charge a 0.15% rate lock fee).

Citibank fixed and variable rates are the same on either package or basic product:
- Mortgage Plus Package $350 annual fee, incl offset, redraw, credit card. OR
- Basic, no annual fee, $399 application fee, free redraw.

Other low rates we have achieved at the larger banks:

Owner variable:

2.94% CPR 3.54% St George Bank - $2000 rebate per property. Basic product, no annual fee, no offset, free redraw.
2.96% CPR 3.35% Citibank variable - see above.
+ we have got up to 1.9% discount with other lenders - just ask me.

Investor variable:

3.19% CPR 3.45% Firstmac Broker Special, no annual fee.
3.29% CPR 3.67% Citibank - see above
+ we have got up to 1.9% discount with other lenders - just ask me.

Current best bank rebates:

St George/ Westpac = $2000 per property (eg. 3 properties = $6,000) - avail in both Package ($395 annual fee, incl offset, redraw, credit card) or Basic product (no annual fee, no offset, free redraw.) Rates see above.

ANZ = $2500 (>$250k loan size) to $3500 (>$700k loan size) - avail in both Package ($395 annual fee, incl offset, redraw, credit card) or Simplicity Plus (no annual fee, free redraw, no offset). Best ANZ rates ask me.

0.3% Bundle Rebate

In ADDITION to bank rebates, Bundle Home Loans gives a rebate of 0.3% of loan size (net at drawdown) for ANY bank or product, eg:

$400,000 = $1,200 Bundle cash rebate
$700,000 = $2,100 Bundle cash rebate
$1,000,000 = $3,000 Bundle cash rebate

Let me know if we can help.
We have some of the lowest rates, not just Citibank, and can get pricing discounts up to 1.9%.
Our policy is to beat any competitor/broker/lending manager with our rates and rebates, so will do whatever it takes (almost:) to get the best deal for you to win you over.

Bundle Property Home Loans
T: (02) 9698 7186
M: 0422354868
E: [email protected]

The information provided is for general education purposes only and is not intended to constitute specialist or personal advice. This has been provided without taking into account your objectives, financial situation or needs. Because of this, you should consider the appropriateness of the advice to your own situation and needs before taking any action. It should not be relied upon for the purposes of entering into any legal or financial commitments. Specific investment advice should be obtained from a suitably qualified professional before adopting any investment strategy.

Related Stores

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closed Comments

  • +48

    Citi bank is dead to me because of customer service.

    • +11

      Can't +1 enough. Horrible customer service.

      • There are other lenders with great rates, and we can request pricing discounts to match Citi or lowest on market, so don't have to go with Citi. Just message me and I will investigate the best rates for your situation.

      • I had great customer service recently. I rang when I saw my new card had a newer offer of no annual fee and I had just signed up before that for a $199 annual fee. They couldn't waive it but they did a refund on my next bill instead? Net result, no annual fee for the first year.
        Ok so that was great.

        The bad part was:
        I was supposed to get 2 lounge passes with priority pass via Citibank.
        Then I realised I had to sign up and make an account with priority pass.
        Only the priority pass site was bugged for two weeks and wouldn't accept details. Or it would accept some and get stuck half way. This went on and on for 2 weeks of frustration.
        Citibank couldn’t help. Priority pass was useless because I had to call a Hong Kong number for help.
        So I emailed them and they were useless in the reply.
        Finally a few weeks later PP called me back and it was a useless person who could barely speak English with a thick Chinese accent and she gave up when I couldn’t understand her for 20 mins.
        Finally the PP site worked while we were on the phone and I got to the final screen and had to give my bloody CC details to sign up to a "free" membership.
        I voiced my opposition to this and she claimed "don’t worry it’s just for verification"
        Sure enough the next screen after that told me my membership would automatically renew every year with PP.
        And to top it off there was no way to unsubscribe online I would have to call HK in one year to cancel.
        Luckily I grace them my Citibank CC number which I'll be closing in a few weeks as I got my 100,000 QFF points already.

        But due to all that utter rubbish experience I'm not going to go back to Citibank again.

        • +2

          This is a Priority Pass issue, not a Citibank customer experience issue.
          There are other banks that uses Priority Pass too and this could equally happen regardless whether you are with Citibank.

    • Probably not the best, but they are offering one of the best rates right now. If you fix for 5 years maybe you don't have to deal with them as much. I like their free bottle of wine every time you dine, better than most reward points!

      • +7

        You can get the wine with a free transaction account

    • +4

      YMMV. For me it’s on the contrary. Out of my experiences with CommBank, Anz, Amex and Citi, Citi comes out on top.

      • +2

        Ive dealt with the mobs above and amex wins hands down

      • +1

        I'm a Citi & Amex fan. Have always had great customer service. Next for us would be NAB. We've moved away from CBA, ANZ, WBC.

    • what customer service?

    • -8

      Not wrong, inactivated my transaction account without any notice,albeit I haven't used it for almost 12 months. Only found out when I was oversea stucked with no cash.

    • Whats with everyone bitching about crappy customer service and internet banking?
      What you want them to do, increase the interests rate and provide better service ?

    • I've been with Citibank for my everyday account and credit card and their service has been incredible. No complaints here.

    • +13

      Hi JacobHarvey, we get this question a lot and I'm glad you raised it. You are certainly not wrong, but there is a common misconception that lower comparison rates CPR will save you more money and better than a higher CPR - not necessarily and can actually be the opposite, here's why:
      - "Comparison rates" were recently invented by the government to reflect lender fees over the life of the loan.
      - It is based on a loan size of $150k over 25 years. If your situation is not that (which are actually most people), then the CPR is actually misleading and can cost you more money.
      - If your loan is larger than $150k, then it is usually better for you to pick a lender with a lower ACTUAL rate (even if the CPR is higher) as it will save you more interest each year. Of course take into account all the fees eg $395 annual fees, which may be less significant for a larger loan size.
      - In summary for larger loans, a lower ACTUAL rate (with a higher CPR) is often better than a higher actual rate (with a relatively LOWER CPR).
      - Hence CPR can be misleading and a lower CPR can be more expensive than one with a higher CPR but has a lower ACTUAL rate. The correct approach is to look at the ACTUAL rate plus all fees involved, rather than the CPR.

      • Could you provide a run down of all the standard fees for the mortgages advertised here? Thanks

        • +5

          ""Comparison rates" were recently invented by the government to reflect lender fees over the life of the loan"

          That's a copy paste from 2003 I suppose…

        • Updated the post above, PM me if you need any product in particular

      • -3

        As someone who bought their first house a year ago and looking to buy a second in the next couple years. Would you also say as a general rule of thumb that lower CPR is better for people who want to pay off the loan as quickly as possible? Say within 5 years of a 25-30 year loan? From what I gather, stay away from fixed and go for lower CPR if you want to make additional payments and finish the loan early.

        • General rule of thumb is obviously the lower CPR the better, but not if the ACTUAL rate is higher and you have a larger loan size. Happy to explain in further detail - PM me.

          • @Len -Bundle Loans: Yeah I get that. I don't live in the city so I'm only looking at like 150-200k loans. Thanks for the clarification.

    • +2

      comparison rates are garbage. doesnt take into account variations you'll most likely do

      • Yes,there's front-of-house books and back-of-house books.
        New customers are given better deals, than older customers.

  • Citibank have good live chat, but kept upping my HL rate but then dropped it so not too bad. Only dropped it I think because others were dropping hard.
    Internet banking sucks

  • Could you please advise more for ANZ loan rate
    1)What are the fix rates for 3 years and what are the on-going charges?
    2)What are the variable(with offset) and what are the on-going charges?

    • +3

      Anz is crap, probably now they'rr offering around 3.2x for variable with offset. I managed to get 3.38 before the latest rate drop but it's been more than 2 months and they couldn't sort out settlement date and I had to copped another year of annual fee with current lender. If you go with broker it might be better, I went through the branch and the manager was hopeless to sau the least, only good at trying to upsell you with insurance and the other nonsense.

      • I’ve heard of someone getting pro-rate refund on annual fee for their home loan with ING when they remortgaged to another lender a month in to a year.

    • Updated the post above, ANZ rebate $3500 is available for Simplicity Plus (no annual fee) for variable rates, but the fixed rates are only available under the Package. PM me if you need any product in particular

  • +4

    Fixed? No…

    • +1

      Hi Symeteor, I would generally agree, except if the fixed rate is much lower than variable and they are only expecting another 1-2 cuts so far.
      For example:
      If your rate is 3.24%, fixing at 2.74% will save you 0.5% each year.
      On a $500k loan, that is a saving of $2500 every year.
      Given many banks are only passing on 0.1-0.15% each cut, how many cuts will it take to catch up to the immediate benefit of 0.5% from today? I would say at least 4-5 times, bearing in mind the longer delay in the cut, the more you are paying each day.

      • +3

        citibank variable is 2.96.

        plus banks arent gonna give us joe schmoes a fixed rate unless they think they'll be making money of ya anyway.

        stick to variable.

  • Are those owner variable rates with Offset account or just redraw facility?

    • All the variable rates have redraw. If you want an offset account, it needs to be under Package (annual fee). What I advise my clients in Choice of Package or Basic loan:
      o   Package (recommended): annual package fee (max $395), free offset account, free premium rewards credit card, lower interest rates.
      o   Basic: no offset, no annual fee. You can still put extra money in the loan account directly to reduce interest charged, then redraw money for free when you need it. The difference is you must manually transfer money to the loan account, there is no automatic offset by leaving money in the savings account. There are potential tax destructibility issues arising from not having an offset account, happy to explain in detail.

      • +14

        LOL don’t say it has a “free” offset, credit card etc. they are built into the fee. It “includes” an offset account and credit card

  • Does Citibank investor fixed have offset account?

    • Generally no offset with fixed, but most banks allow an extra repayment of approx $10k per year without penalty. Varies with different banks. Bankwest has a 40% offset feature under fixed.

      For you, I suggest doing a split loan for a portion variable and a portion fixed, so you can offset the variable portion.

      • Further forgot to mention we have a product funded by Adelaide Bank that has full 100% offset under fixed, from 2.99%. It's one of their most popular niches. PM me for details.

  • You can't do anything for existing Firstmac customers, can you? I'm paying 4.18% P&I with them currently and can't refinance due to APRA changes.

    I wish I could refinance, this would save me a tonne of money!

    • +4

      That's very high, PM me and I'll see if I can help.

      If you can't refinance for whatever reason (due to lower income or tightening of lending, or just can't be bothered), you can call your current lender and quote a competitor rate (Citibank 2.74% or 2.96% is hard to beat!) and ask them to reduce your rate. They won't come down as low as this but they should reduce it for you. Good luck.

  • Hi, does Citibank have a minimum sqm size requirement for investment loans (refinance)?

    • Generally 40sqm

      • Generally? 36-38 sqm ok if positive geared and loan history of over 10 years, value double the loan amount. Currently with bankwest. Possible?

        • If that isn't good anywhere, our system is broken. A 50% LVR refinance should never have an issue. You already have a loan. Responsible Lending shouldn't even be a consideration. Getting you the best rate should always be the focus.

          • @greennick: LVR is below 50, yet so far only one bank was happy to let me refinance with them.

        • It is 40sqm, but they don't always lend 80% for above 40sqm, depending on postcode, high density, etc. If 38sqm most likely not. CBA has no minimum area (Bankwest is a subsidiary). PM me and I'll see what CBA can do for you.

  • What's the rate for citibank interest only investor loan?

  • +4

    Never fixed the loan, interest rate will drop to 0% similar to Japan.

    • +1

      Negative it goes

  • +3

    My problem with Citibank is their poor Internet banking and particularly their app. It seems to be improved lately but still is lagging behind CBA, ING…

  • Can one take loan on a paid off property?

    • Sure can, called "cash out"

      • Thx, similar rebates/cashbacks apply?

        • It's certainly possible, PM me to discuss.

    • Some banks will want a good reason for it (renovations, extensions, investment into shares etc..) but there will be differing documentation requirements.

  • What is the best rate for owner occupied IO loan with offset?

    • 3.19

      • Wow, which bank? Can you provide more details?

      • Details please? :)

      • Firstmac special broker rates

      • Hold on, is this variable rate?

        • Yes

    • @OzzyBuy could you respond

      • Hi Padman, sorry missed this. Correct 3.19% owner occ IO variable. Happy to email you their rate card.

  • i heard citi are very volatile with their rates. so maybe 5 years fixed is the go, then change. problem is if something goes wrong and you cant refinance you'll be in a pickle.

  • City's interest only loan deposit is 15% it seems, where as Westpac and ANZ dropped theirs to 10%.

  • do you do commercial property also? if so at what rates?

    • Yes we do. Commercial rates are not bad, we did one recently and fixed for 3.58% 3 years at ING. PM me and I'll look into it.

  • +5

    Save you time stay away from Citibank. They are the worst bank to dealing with. Simple loan settlement took them more than 6 months to complete, even I after complaint to the national head of mortgage. The whole process is very unprofessional, we have to do 2 valuations because the bank took too long to process the settlement, and the first valuation has expired. Cost us a lot money because they delay the settlement for more than 5 months.


    • Feel bad for you. Bankwest slightly stuffed ours from getting the lot number wrong on paperwork but it only cost a couple of weeks. Were you compensated at all?

      • Nothing. Went to compliant department, quote they said “We are sorry to take a little bit longer than usually, but don’t even think about we will compensate it for any delay.” This showed how Citi bank care their customer.

        • +1

          Wow, just wow.

    • I'm sorry to hear you had a bad experience. There are other lenders with great rates, and we can request pricing discounts to match Citi or lowest on market, so don't have to go with Citi. Just message me and I will look into the best rates for your situation in future.

  • Why the F i pay 4.19 with Westpac on my IP.. :(

    • Do you have shares in Westpac?

    • Change lenders now and you can move to a different lender for >3% loans now.

      Watch the news next week, on Melbourne Cup day, to see if interest rates are lowered.

      • +1

        Or < 3% even ;)

        • That's what I meant!

  • Wait so if moving say $1m across 2 properties to Westpac a cash rebate of $4k + $3k applies? Including variable rates? Neat..

    • Yes =) PM me I've love to help. We have a policy to beat any competitor/broker/lending manager with our rebates, so will do whatever it takes (almost) to win you over.

  • Is there an expiry date? Or is this expected to be around for another 1-2 months?

    • Could be pulled at any minute, so need to hurry. I expect rates are so low at Citi because they are quite and need to drum up business. They will get a flood of deals from this and then increase rates. Banks do this all the time. Good thing is there is a 60 day free rate lock at Citi.

  • What’s the rate for investor for both variable & fixed at Westpac?

    • Westpac doesn't have the lowest on market right now, but they have good rates see above. Investor var from approx 3.59% and fixed 2/3yrs 3.28% . If your LVR is below 70%, take a further 0.1% off, so 3.49% and fixed 2/3yrs 3.18%

  • -1

    Your face is an investment loan!

  • I'm on 3.63% but has offset account with $240/yr fee with 25% lVR.

    Probably worth looking at moving over plus looking at possibly interest only for investment property or is that impossible these days?

    • Going IO isn’t impossible. The banks are starting to loosen the criteria again for IO loans (one example)so I’m guessing their investment loan to owner occupier loan ratios have dropped too much.

      • Is definitely possible - I have a 3.28% investment loan IO with NAB. Refinanced three months ago.

        • Is that through broker or straight with them?

          Thats a very good rate for IO loan. I thought they were near the 5% mark with all the new regulations

          Will need to look into this a bit more now.


          • @sc00bie: NAB direct - 'NAB Private Banking' arm.

            I negotiated it down using CBA as a plan b / stalking horse.

        • Can you please provide the broker's contact details?

          • @bhaktas: Call up NAB (or any other ban) and try your best to negotiate. The market is quite competitive at the moment, so give it a shot!

            No offence to the OP, but I had better luck on my own than with a broker. My loans (residential and investor) are a little complex.

      • Thanks, will look into it

  • Regardless of the $hittyBank service, 2.74% pa fixed upto 5 years is an excellent rate, assuming 1. You can pay extra of say upto $10k pa into fixed 2. You are able to split the loan into fixed + variable and 3. The variable component can be offset by your savings account.

  • Nice details and good rates. Thanks for sharing

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