Citibank Home Loans Starting from 2.19% + $2000 Cash Back


Citibank Refinancing Cashback deals

P&I packaged HOME LOAN
* 2.19% for 2 years fixed for home loans (CPR 3.12%)
* 2.29% for 3 years fixed for home loans (CPR 3.1%)
* 2.49% for basic variable rate (CPR 2.54%)
* 2.59% standard variable (packaged) (CPR 2.64%)

* 2.59% for 2 years fixed for investment loans (CPR 3.43%)
* 2.69% for 3 years fixed for investment loans (CPR 3.41%)
* basic variable starting from 3.14% (CPR 3.53%)

$2K cashback per application, capped at $4k
* Loan applications must be submitted before 31/7/2020
* Loan amount must be above $350k - including any additional cash out amount
* <80% loan to value ratio
* P&I loans

Other things you should know
* The typical total refinancing cost averages around $600 - $800 which includes existing outgoing lender discharge fee and government charges.

For further details, please contact:

John Kim
Finance Broker
Bachelor of Commerce, Diploma of Financial Planning, Diploma of Finance & Mortgage Broking
M : 0433 390 648
E : [email protected]

All consumer credit related services are provided on behalf of BLSSA Pty Ltd ACN 117 651 760, Australian Credit Licence No. 391 237 by its authorised credit representatives as part of the a network operated by Brokerage House Pty Ltd ABN 40 607 041 421, trading as Our Broker CRN 485586. John Kim is a credit representative 508336 of BLSSA Pty Ltd.

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  • I think there are better cash back and rates being offered?

  • It takes weeks to get through to Citibank mortgage department.

    No issues with banking/credit cards, they're not too bad (although delayed through Covid) but home loans hardly ever return calls. Maybe not as much of an issue if going through a broker…

    • Hi dice, sounds like you've had a bad experience with citibank. sometimes it is the luck of a draw or sometimes if they have a ridiculously good deal on and don't have the resources to pull through their turn around time blows out. but at the moment they are pretty good.

  • possible to jump around from bank to bank to get cashback? any catch to stay some period?

    • Fixed rates, stuck there for 2 years

    • You can do this. I’ve refinanced 3 times in 6 months for $4k cashback each time. Just don’t fix and you can move around as often as you want.

      • wow and the banks were ok with this? did you refinance yourself or through a broker?

      • Exactly this!

      • 3-times in 6 months thats pretty amazing - with a 12k all up cash back (prob lost about 1k in fees) so overall 11k profit

        You have just reached OzB level 100

      • Wait, who is offering $4k cashback, and letting you keep if it you switch that soon?

        • Nobody is doing $4k anymore, but six months ago most of the banks were doing it…. St George / NAB / ANZ all had $4k at one stage

      • Doesnt it kill Your credit rating?

        • No, credit rating has actually gone up. Enquiries don’t play as much of a role in credit ratings as they used to with CCR now around.

          • @El-Rhi: Thats true El, but just be careful as I have seen applications get declined by banks due to too many credit enquiries on the applicants files. 3 times in 6 months is considered very excessive in the industry. CCR would help your score increase because of your good repayment conduct not because of your refinances. but hey if it's working for you, good on you!

            • @John -Our Broker: You’re right… it depends if the lender has any rules around enquiries in their decision models. Those that do would most likely flag for a manual review rather than a straight decline. If an enquiry is followed by an open account on the credit report it’s usually viewed favourably, rather than lots of enquires and no accounts.

        • I worked one of major credit report agencies.

          It doesn't kill your credit rating, but it certainly decreases your credit score. Your credit score will recover as your repayments are paid on date, but it will take some time.

          However, decreasing score doesn't mean you would have a problem. With certain score range, you can still do refinance or get credit cards without problem.

          So missing repayment is the real killer.

    • yes you can if on variable. there's no claw back. just keep being a cashback slut.

    • Not sure if doing this would impact your credit rating?

      • It probably would

      • It hasn’t impacted mine too much (illion and Equifax are up slightly and Experian is down a bit). Credit enquiries don’t impact your score as much as they used to due to CCR, but it also depends on the type of enquiry (mortgage, revolving or personal loans are all treated slightly different) and whether an account was opened soon after the inquiry (which means your application was successful).

  • Currently with Citibank. They don't pass on all rate cuts. Also phone customer service doesn't exist. It's basically a call back service, like you will have to leave a message with a service desk and they will call back after a quite a few follow ups. So I would recommend to stay away from Citibank.

    • Same. Citibank used to be decent back when they were trying to grow retail/HNW presence but I had many stuff ups (eg wrong settlement date?!) during my mortgage process in January 2018 and service is very non existent now.

    • Hi Moncastle. completely agree with your frustration. hardly any banks pass on the full rate cuts there days after the major banks started to do so. thats why you need a good good broker that will try to get you a pricing discount where ever possible.

  • Other things you should know
    * The typical total refinancing cost averages around $600 - $800 which includes existing outgoing lender discharge fee and government charges.

    Is this per property?

    • I'd imagine this would be the cost every time you want to refinance and jump lender.

      • Yep that would make sense. I am trying to understand if this is $600-$800 per property being refinanced or this fee would cover multiple properties?

        • Aah ok, sorry I misinterpreted your question. Not sure on that. Perhaps the OP can advise.

          • @Trishool: Hi everyone. This is the discharge fee that your current lender would charge (typically $100-400) , plus government charges of mortgage de-registration and re-registration fees (around $300).

    • Hi everyone. This is the discharge fee that your current lender would charge (typically $100-400) , plus government charges of mortgage de-registration and re-registration fees (around $300).

  • Anyone currently offering 4k cashback with similar fixed rate?

  • I did some banking through Citibank. Never again! They have been a NIGHTMARE to deal with.
    Off the top of my head:
    * App doesn't remember my password, so I'd have to change it every single time I opened it. Every time I tried to change it, it said can't re-use current password! I just checked, and even though I'm 100% sure it's the right password (I use a password app), it doesn't accept it. Infuriating.
    * Fingerprint ID on the iPhone app was present but never worked. You'd put in your fingerprint and then it'd ask for your password anyway. WHICH never worked as I said. They've removed it now, obviously because it wasn't working. (All my other banking apps do it).
    * Similar thing happening with web banking. Seems to be fixed now.
    * Web banking required phone code entry. That's fine, but then it asks again if you want to send them a message. Why? I literally just logged in seconds ago.
    * No notifications for bank messages to email, SMS or via app like EVERY other bank does. So you have to log in on a computer from time to time to see whether you have any messages.
    * Can't fill out web forms for basic things - need to actually ring.
    * They ring you without leaving messages.
    * They stuff things up and then when you try to get them to fix it, they don't give you updates.
    * It has taken 6+ months of continual back and forth and I still haven't received the bonus Qantas points that were part of a credit card package I got in November. I met the criteria within 3 months, they just keep (profanity) me around. I provided Qantas membership details, they said they were wrong. I asked what details they had, and what they gave me was correct, so that was a lie. They also lied about it being resolved in February. Still no points, so many phone calls and messages.
    * Their phone staff are terrible. Not knowledgeable or helpful. (I struggle with their strong accents, which I don't blame them for, but it makes it harder to deal with them.)

    Dismal, terrible, shameful, awful company. Avoid, avoid, avoid. God help you if you're trying to run a business. I've never had any dealings with a bank as bad as this.

    • I dealt with the credit card department twice and dislike CITI's service.

    • Yeah, I also wouldn't deal with them in future. I have a Citibank Card and Kogan card (which goes through Citibank) and have had major dramas with both. For the first, it was a card being compromised that I had never even used overseas, which I suspect was an inside job through leaked details. Even after cancelling, they let through and charged me for fraudulent transactions, resulting in me having to dispute them. For the Kogan card, it was a number of procedural and technical problems with getting and activating a secondary card. In both cases, the apps are terrible.

      If you value your time and your sanity, stay away from Citibank.

    • Agree, its a pain dealing with Citibank.

      I was forced to post a letter written on blank page (with no format/template) on my postage expense to Citibank for a simple change of personal details like phone number as they dont have a facility/process to change it over phone and they dont have a branch in Australia to deal with such matters

      Never again

  • Ah, the bank that cancelled my credit card without even telling me and lost my points. NO THANKS!! Wouldn't help me. They said we sent you an email. Never received it. Sent something in the mail. Never got it. Wouldn't reinstate it. Useless. Imagine what they will do with your home loan account lol

  • Hey John, "2.59% standard variable (packaged) (CPR 2.64%)" is this with offset? Does the comparison rate include all fees?

  • $2K cashback per application, capped at $4k

    how does this work? Is it $2K per per property capped at $4K?

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