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Citibank is the consumer division of financial services multinational Citigroup. Founded in 1812 as the Citi Bank of New York, Citibank banking services has played an instrumental role in establishing important market intermediaries such as depositories, credit bureau, clearing and payment institutions. Besides standard banking transactions, Citibank markets insurance, credit cards, and investment products. Their online services division is amongst the most successful in the field, and claims about 15 million users.
Citibank services embarked on its operations in India over a century ago in 1902 in Kolkata. Today it is a significant foreign investor in the Indian financial market. The Indian headquarters of this private sector bank are at Bandra Kurla Complex, Mumbai. It operates 44 full-service branches in 31 Indian cities an over 700 ATMs across the country.
Citibank financial services offers consumers and institutions a wide range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citi’s franchise in India also includes businesses such as equity brokerage, equities distribution, private banking and alternate investments and private equity. Citi facilitated the Indian software industry by establishing Citicorp Overseas Software Ltd. and Iflex Solutions Ltd. also, Citi India, through its network of Citi Service Centres has been a leading off shoring unit for Citigroup globally, providing employment opportunities in the areas of technology, processing, analytics, and financial processes.
Citi Bank Loans:
Citibank Home Loan: This loan has been exclusively tailored to help you translate your dream home into a reality. It is available for purchase of under construction property, as well as ready property. Its extensive features, coupled with Citibank home loan interest rates will draw the customers. Not only does it provide the borrowers easy home loan up to Rs. 10 crores, and offers a flexible repayment tenure that lasts up to 25 years. Citibank loan details states that the applicant can avail home loans up to 80% of the property value. Further, he/she can enjoy the flexibility to pay interest only during construction period. The interest is calculated only daily reducing balance. What’s more, no co-borrowers/guarantors are required. The Bank extends a helping hand in the form of Citi Phone Platform to address all queries. Also, the borrower of home loan from Citibank can access his/her Home Loan account online. The Bank offers power packing the loan through the unique Home Loan Credit option which lets the applicant decide what interest he/she pays on the loan. Home Credit Loans operate through Home Credit account which is a current account linked to the borrower’s loan.
According to the Home Credit Vanilla Option, one can opt to maintain liquidity while the Home Credit Fast Track option allows customers to repay the home loan faster. Interest rates in the latter case are adjusted towards reducing the loan outstanding, which effectively lowers the loan tenure and helps one close the home loan faster.
Citibank Personal Loan : Whether it a wedding that one wishes to finance, or an emergency medical bill that needs to be paid, the Personal Loan from Citibank comes to rescue just at times of need, with benefits such as minimal documentation and speedy loan approval. With this scheme, one can get Citibank finance of up to Rs. 30,00,000. The loan funds are credited to the bank account in 48 hours. The Bank also offers fixed interest rate for predictable monthly payments. There is also part pre-payment option available. The minimum loan amount is Rs. 1,00,000, while the maximum amount is Rs. 30,00,000. Citibank Loan advantage in this scheme includes, getting the funds in just 48 hours, flexible repayment options ranging from 12-60 months, fixed interest for greater control over monthly payments, special offers and minimal documentation for Citibank customers, full and part-prepayment options, balance consolidation of high cost Credit Card and Personal Loan outstanding, etc.
Citibank Loan Against Property : With Loan Against Property from Citibank, the customer can leverage his/her property’s equity to expand his/her business, meet his/her working capital requirements and fulfill any other personal or professional needs. Under this scheme, an applicant can get loans up to Rs. 5 crore. It comes with a flexible repayment tenure up to 15 years. The Bank offers this loan also against residential property, with loans up to 70% of the property value. This loan can be availed for various purposes, including purchase of machinery, purchase of commercial property, closure of existing high-cost debts, buying a new property, child’s education, or for any other personal, business or professional requirement. Under the special features of Loan Against Property for Child’s Education, the Bank offers loans up to Rs. 20 lacs for studies abroad, and up to Rs. 10 lacs for studies in India. Citibank Loan Against Property eligibility for either is based on the parent’s income who is the chief applicant of the loan. This loan can also be availed against residential/commercial property. The Home Credit option is also available with this scheme.