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Citibank Home/Investment Loan - Rates from 4.44% OO (CR 4.49%), 4.69% INV (CR 4.74%), Minimum $350,000 Loan

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Citibank Home/Investment Loan - Rates from 4.44% OO (CR 4.49%), 4.69% INV (CR 4.74%), Minimum $350,000 Loan
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AssociatedMortgage Broker @ Lending Clinic on 19/11/2022 - 11:48 www1.citibank.com.au (212 clicks)
Last edited 22/11/2022 - 13:29 by 2 other users

Hello OzBargainers,

Citibank has just announced super sharp rates for new applications submitted between 18/11/2022 and 9/12/2022.
This is a limited-time promo with short deadline, it may be cheaper than Westpac and ubank.
After the 0.25% November rate increase, we can get you the following interest rates (cheaper than the website):

  • $350k+ loan size
  • 80% LVR or less
  • OO Basic variable 4.44% (CR 4.49%)
  • OO Offset variable 4.49% (CR 4.63%)
  • INV P&I variable 4.69% (CR 4.74% for Basic, CR 4.83% for Offset)
  • INV IO variable 4.74% (CR 4.79% for Basic, CR 4.88% for Offset)

Also can be used in conjunction with the Citibank cashback offer, and our extra broker cashback/rebate offer.

Citibank cashback offer
(Duplicate cashback offer removed from title — Mod)

OzBargain exclusive broker cashback offer

Our extra broker cashback offer:

  • 0.30% of your net loan balance if it's $500k+
  • $500 if your net loan balance is $350k-$499k
  • Broker cashback is paid after 18 months if you still have the loan

Call/email me for a no-obligation chat 😀

Arman Soetanto
M: 0431 825 128
E: [email protected]
W: www.lendingclinic.com.au
Lending Clinic Pty Ltd (Credit Representative Number 511270) is authorised under Australian Credit Licence Number 384704

Financial Home Loan Investment Loan Refinance

Related Stores

Citibank Australia
Citibank Australia
Lending Clinic
Lending Clinic
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closed Comments

  • silenthillrocks on 19/11/2022 - 13:04

    HSBC is 4.39%. No deadline.

    • AssociatedMortgage Broker @ Lending Clinic on 19/11/2022 - 13:07

      Not for much longer, "HSBC will increase its variable home loan interest rates by 0.25% p.a. with effect from 21 November 2022" https://www.hsbc.com.au/

      • silenthillrocks on 19/11/2022 - 16:44

        It's already built in to the new customer price. A week ago it was 4.14%.

        • AssociatedMortgage Broker @ Lending Clinic on 19/11/2022 - 16:47

          Might be a good idea to double check with them. We don't have HSBC on our panel, but they could have delayed their response to the October cash rate increase, and the 4.14% could be before the October cash rate increase.

  • clubhonda on 19/11/2022 - 13:42

    One Two Home Loan is 4.09% potentially as low as 3.94% if you repay more.

    • XXRydeR on 19/11/2022 - 13:55

      Interesting..

      Have you had any experience with them?

      • jalalii on 19/11/2022 - 16:08

        Joined when they had the cashback promo.
        1. Their approvals process is a little too intrusive, even questioning individual transactions when you give them access to your accounts.
        2. Unrivalled value in my opinion. Rates are competitive and they dont seem to jump at rate hikes like the others.
        3. This is my biggest pet peeve: no online portal. Literally have to email to get answers on loan balance, confirmation of extra payments, etc. they say it’s coming soon but still waiting. Will say the email replies are prompt but I’d rather have my own account ready for online viewing.
        4. Doesn’t affect me anymore but also no offset or redraw, meaning all extra funds I had in my old offset had to just get sunk in.

    • AssociatedMortgage Broker @ Lending Clinic on 19/11/2022 - 14:44

      Just keep in mind the website says "The RBA has increased the cash rate by 0.25% p.a. on 4 Oct 2022. We’re reviewing our rates and will have an update soon." It's a hint that they haven't decided how to respond to the October and November RBA cash rate increases, and quite likely they will eventually pass them on as 2 x 0.25% on top of the 4.09% as of today.

  • victorheaven on 19/11/2022 - 14:02

    Is the cashback amount based on net (of offset) loan amount or nominal amount?

    For example, $900k loan with $200k offset would it be $4k or $5k cashback?

    • AssociatedMortgage Broker @ Lending Clinic on 19/11/2022 - 14:45

      The Citibank cashback is based on the total $900k loan amount. Our extra broker cashback is based on the $700k net amount.

  • bigbadboogieman on 19/11/2022 - 16:03

    Interesting. What is the fee structure?

    Annual fee?
    Lodgement fee?
    Discharge fee?
    Fee just for the hell of it (like other banks)?

  • AssociatedMortgage Broker @ Lending Clinic on 19/11/2022 - 16:28

    Citibank has 2 loan products, the basic loan has no annual fee, but has $399 application fee and $250 settlement fee, no offset account.
    If you want an offset account, you can go for their home loan package, there's $350 annual fee, $0 application fee, $250 settlement fee.
    Citibank discharge fee of $350 is payable later when you refinance again or sell the property. But now you need to pay the discharge fee for your existing lender, and also the land title office cost which is around $250-$400 depending on where the property is.

    • bigbadboogieman on 19/11/2022 - 16:35

      Was working through the schedule slowly.

      https://www.citibank.com.au/aus/home_loans/pdf/fee_schedule.…

      Application Fees (per Facility)
      * Application fee: This fee is payable on or before settlement, and includes the cost of valuation(s) on the property of up to $500. If the valuation cost exceeds $500 you must pay the excess. You will not be charged this fee if your application is part of a Mortgage Plus package. $399

      • Package fee: This fee is payable on or before settlement, for a Mortgage Plus package, and includes the cost of valuation(s) on the property of up to $500. If the valuation cost exceeds $500 you must pay the excess. $350

      • Settlement fee: This fee is payable on or before settlement for attendance by our solicitor(s) and for completing all Land Title Office requirements. $250 Valuation fee Where the valuation cost is more than $500, you will pay for the valuation cost that is above $500. You will pay for the valuation cost that is above $500

      • Company/Third Party fee: This fee is payable when a company or third party applies for the loan and provides security. This is payable per company and/or third party. $150

      • Non Standard Security fee: This fee may apply where the offered security is not a standard security type. $250

      • Additional Property legal fee: Additional legal fees are payable where more than one security is offered. This fee is payable for each additional security offered. $150
        Construction Loan fee Payable on Construction Loans, and includes the application fee and the cost of property valuation up to $500. If the valuation cost exceeds $500 you must for pay the excess. $790

      • Re-documentation fee: This fee applies where you request a change and we need to prepare new loan documents. $40

      Other Fees – payable on or before settlement (per Facility)

      • Mortgage Stamp Duty State government fee(s), which varies from state to state. Cost to be determined Mortgage Registration fees State government fee(s), which varies from state to state. Cost to be determined

      • Lenders Mortgage Insurance: Payable when we require lenders mortgage insurance and applies to loans with a Loan to Value Ratio (LVR) over 80%. Fee amount varies depending on loan amount and LVR

      Ongoing Fee (per Facility)

      • Mortgage Plus Package fee: This fee is charged on settlement and subsequently on the anniversary of your mortgage settlement date. This fee is still payable even if you cease to hold either the Citi Credit Card and/or the Citibank Plus Transaction Account.
        $350 p.a. payable in advance

      • Ongoing Product Fees (per Account): The ongoing product fees will not be payable if you take out a Mortgage Plus Package.

      • Basic Mortgage: There is no account-keeping fee on Basic accounts.

      • Standard Mortgage Account keeping fee: applies to all variable and fixed rate accounts. $8 per month
        per account

      • Mortgage Power (no longer for sale): Account keeping fee applies to line of credit accounts. $12 per month
        per account

    • bigbadboogieman on 19/11/2022 - 16:37

      Is there a simplified loan product with an offset account with no annual or on-going fee?

      • AssociatedMortgage Broker @ Lending Clinic on 19/11/2022 - 16:39

        You can opt out of the home loan package, but you will have the $8 monthly fee and your interest rate will be much higher. Unless your loan is extremely small (which will not qualify for the cashback), you're better off with the home loan package if you want an offset account.

  • kanu666 on 19/11/2022 - 23:47

    Where I can see 4.44% on their website?
    It says 4.74% https://www1.citibank.com.au/home-loans/home-loan-rates

    • AssociatedMortgage Broker @ Lending Clinic on 20/11/2022 - 08:01

      It's a special pricing we have access to :)

      • Ryder08 on 20/11/2022 - 19:30

        Is the cashback also something only you have access to? Can't find it on their website.

        • AssociatedMortgage Broker @ Lending Clinic on 20/11/2022 - 23:30
          +1

          Not sure if you get it if you apply direct, but a lot of brokers can get the same cashback. For whatever reason it's not advertised on their website. We don't charge a fee anyway, please feel free to use us as your broker :)

  • kitkat450 on 21/11/2022 - 00:40

    Do I need to get discharge / refinance authority from my current lender? @Mortgage Broker

    • AssociatedMortgage Broker @ Lending Clinic on 21/11/2022 - 07:00

      The form is usually on the website somewhere, we can find it and pre-fill it for you to sign :)

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