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Variable Rate Home Loan - Owner Occupied 2.49% (CR 2.54%), Investment 2.85% (CR 2.89%) @ Citibank + Broker Cashback


Greetings fellow Ozbargainers.

We have access to a special Home Loan Offer from Citibank for Owner Occupied and Investment Loans. In addition to this great rate, we are reimbursing you $1,000 after settlement for loan amounts over $400,000 to offset your refinance costs.

You can message us through Ozbargain or email [email protected] or speak to us on 02 8091 5797 for further info about this deal and other special home loan offers available.

Home Loan Type Interest Rate Comparison Rate Application Fee Settlement Fee Ongoing Fee
Owner Occupied 2.49% 2.54% $399 $250 Nil
Investor 2.85% 2.90% $399 $250 Nil

*Cashback is for combined lending above $300,000.

^The comparison rate is calculated on a secured loan of $150,000 with a term of 25 years with monthly principal and interest payments.

WARNING: This comparison rate is true only for examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Important Information: Applications are subject to credit approval. Full terms and conditions will be included in our loan offer. Fees and charges are payable. Interest rates are subject to change. Offer does not apply to internal refinances and is not transferable between loans. As this advice has been prepared without considering your objectives, financial situation or needs, you should consider its appropriateness to your circumstances before acting on the advice.

Australian Credit Licence Number 506992

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closed Comments

  • Hi Rep,
    I'm already with citi, can I get the same deal by refinancing?

    • Fixed or variable?

      • Hi, this is a variable rate. There are more competitive fixed rates available including ones which come with 100% offset and full redraw. Feel free to PM me with any questions. Michael

  • What LVR?

    • Hi, it's a max LVR of 80%. Feel free to PM me for more info. Michael.

  • +1

    These guys are doing 2.51% comp with offset and no app fees - https://www.statecustodians.com.au/low-rate-home-loan

    LVR here is 60%

    • Any catch with them?

      • A high discharge fee - generally the lenders with high discharge fees tend to be the most likely to raise existing customer rates out of cycle (given the existing customer's cost to switch is high).

  • +1

    So is cashback applicable over 400k or 300k?

    • For a moment, I thought Shopback applies to this deal…. need to stop buying stuff via ozb…

  • looks good. hope it's still around in the new FY.

  • +1

    whats the rate for IO investment loan

    • Hi There, the rate for IO is 2.93% up to 80% LVR. Feel free to PM me or email [email protected] for a chat about your investment loan options.

  • Do these apply to Construction Builds as well?

  • $1,000 cash back is balls TBH. Plenty of others offering $4k (suncorp) and $3k (ANZ) and probably no application fee too.

    • -2

      TBH all cash backs are balls, there all just marketing gimmicks to permit easier access into your wallet.

      Suncorp look like they are doing $2k or $3k (for bigger loans) and their comp rate is 3.32%, god knows what the refinance costs r like. Stick with a well featured loan with a low comp rate and life's simple and cheaper!

  • Guys, any reason why one should go for variable now when fixed rates are around 2.29%?
    Is there a reason not to lock in the interest rates?

    • Because it's easier to get switch (or threaten switching) with variable. And in the current climate the variable rate is unlikely to go up any time soon…

  • Tic Toc home loans have offset ($10/mth) and unlimited redraw. LVR up to 90% and rate is 2.39% (2.40% Comp). No fees.

    • I heard tic toc can only deal directly to customers and not via broker?
      How is your experience with tic toc so far?

      • I haven't personally used them, as I have a good deal with my current lender. A couple of friends have switched over and have said they are pretty good so far.

      • My experience with Tic Toc is "Real People, Real Videos".
        Sorry, I meant Tik Tok…

  • Beyond 400k! By god, are we living in mansions?

    • +2

      are you living in the woods?

      • Yes, that’s the only place I could afford a mansion

  • Hi OP,
    Suncorp are offering $2,000 Refinance Cash Bonus where the total refinanced amount to Suncorp Bank is between $250,000 - $749,999.99 & LVR of <= 90%.

    You are offering 1000 cashback over 400k- is that on top of the 2,000 if I went with Suncorp bank?
    Apologies if I got this wrong?

    Many thanks in advance for providing clarification.

  • My experience with Citibank has been pretty poor. Their banking applications (mobile and web) are pretty archaic and confusing to use, customer service is pretty poor - not the people but rather the process to action things e.g. getting a new cardholder, bank cheques you need to mail (as in post a letter) to the head office in Sydney. Whilst the rate is pretty good the experience can be pretty frustrating when you need it to work.

    Admittedly I refinanced by using one of the refinance deals i.e. ANZ 4k so that net/net I'm not losing money. I suggest anyone that wants to apply be prepared for the above issues though noting the above may not be make or break for everyone!

  • Hi All, new to refinance here. I've got a couple locked in rates with the current bank and 50% on variable, what bargaining power do I have to refinance on the current back or switching to a new bank, what penalty would I face?