About CITI BANK
Citi Bank started in India in 1902 in Kolkata and today it is one of the significant investor in Indian Financial Market. As promoter-shareholder, Citibank has played a leading role in establishing important market intermediaries such as depositories, credit bureau, clearing and payment institutions. Under Global Consumer Banking, Citi India offers the full range of consumer banking products and services. We serve our clients across the entire wealth continuum as they grow in affluence. Citibank is one of the leading card issuers in India with a diverse suite of innovative and differentiated products. Citi Wealth Advisors is the firm's broker-dealer platform for retail clients.
Reasons to take Loan against Property from Citi Bank
Reason I – Citi Bank lends up to 5 crores for loan against property
Citi bank funds up to 70 % of loan to value of your property. The quantum of finance ranges from 5 lacs to 5 crores against residential properties. For commercial properties loan amount up to 3 crores is offered by Citibank. Fewer documentation and fast processing of loan makes it easy for customers to avail loan from Citi bank.
Reason II – Citi Bank offers attractive Rate of Interest
Citi Bank offers attractive and competitive rate of interest to the customers. The rate of interest is charged depends solely on the discretion of the bank which depends upon profile of the customer, his past track records, monthly outgoings, banks norms, etc
Reason III- Longest Repayment Tenure Option
Citibank Loans against Property have maximum repayment tenure of up to 15 years. The actual tenure of the loan is subject to the application meeting Citibank credit acceptance parameters.
Reason IV – Collateral Facility
To avail loan against property collateral security is to be provided. Both residential and commercial property is accepted as collaterals. The property against which the Loan Against Property is sought can be based out of any of the following approved Citibank locations - Ahmedabad, Bangalore, Chennai, Delhi , Hyderabad, Jaipur, Kolkata, Mumbai, Pune, Coimbatore, Chandigarh and Surat.
Reason V - Minimal Eligibility
Applicant should be at least 23 years of age. He should be in business for not less than 3 years. Business should be in showing cash profit continuously for the past 2 years. Carry forward losses are not taken in to consideration.
Reason VI – Top – Up Loan Facility
Top-up loan can be availed on existing Citibank Loan against Property. Once applicant has completed repayments of the existing loan for more than 6 months, bank offers an additional top-up loan on the existing loan. The final sanction of such loan is at the discretion of Citibank.
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