Whether you’re planning to upgrade your home or get an investment property, you will need to take out a home loan to finance your purchase. While picking out a home loan sounds like an uphill task, it is a crucial step in completing your property purchase in Singapore. Keep reading to discover how Citibank Home Loan can fulfil your property financing needs.
Benefits of Citibank Home Loan
With so many home loan options available on the market, it can be challenging to decide on a suitable choice. Here are some reasons why Citibank Home Loan is a worthy consideration:
- Dedicated mortgage advisors: Home financing doesn’t have to be a frustrating journey. With the dedicated guidance of our mortgage advisors, you can be assured of a smooth and rewarding home financing journey.
- Extensive mortgage options: At Citibank, we offer a wide range of home loan options to fulfil your unique home financing needs. Take your pick from variable, fixed, or hybrid (a combination of fixed and variable rates) loan packages.
- Transparent interest rates: Our home loan interest rate packages are pegged to transparent market benchmark rates (1-month and 3-month Compounded SORA).
- Mortgage Loan Interest Offset: Enjoy more savings with our Mortgage Loan Interest Offset feature when you sign up for variable interest rate packages.
- Preferential interest rates: If you are a Citigold or Citigold Private Client customer, you can get access to preferential mortgage interest rates.
Fixed and Variable Interest Rate Home Loan
The next step in picking a home loan is to decide whether a fixed or variable interest rate home loan will better suit your needs. Fixed interest rate home loans come with interest rates that remain the same throughout the period – this means that if you choose a fixed interest rate loan, your mortgage repayments will remain constant throughout the lock-in period. On the other hand, variable interest rate home loans charge interest based on the prevailing market interest rates. This means that if you decide to take on a variable interest rate loan, your mortgage repayments will vary based on the prevailing market interest rates.
Currently, Citibank offers fixed and variable interest rate home loan packages for HDB flats and private property. Whether you should go for fixed or variable interest rate home loan packages will depend on your loan size, personal preferences, and financial circumstances. You may also want to check prevailing interest rate trends and forecasts – for example, if prevailing interest rates are forecasted to increase, taking up a fixed interest rate package could be advantageous in the short term. On the contrary, if prevailing interest rates are forecasted to decline, you may be more inclined to take up a variable interest rate package.
Conclusion
With Citibank Home Loan, you can look forward to a rewarding home financing journey with the guidance of our dedicated mortgage advisors and a selection of home loan packages with attractive interest rates. Before deciding on a home loan package, it is essential to consider factors like your financial profile, personal preferences, loan size, and interest rate trends. If you have any questions about our home loan packages, please reach out to the Citibank team by filling up your details in the form provided. Our mortgage advisor will reach out to provide advice on loan affordability within 1 business day.
Citi Singapore
Citi Singapore is a full-service bank offering consumers, corporations, governments and institutions in Singapore a broad range of financial products and services. It is one of Singapore’s largest foreign banking employers and a significant hub for Citi globally.
The content reflects the view of the article’s author and does not necessarily reflect the views of Citi or its employees. Please read the products and offers on the Citi Singapore website for accuracy or completeness of the information presented in the article.
Contact Information
Sonakshi Murze
Manager
sonakshi.murze@iquanti.com
