- Home Loans
- Citibank FlexiHome Loan
Citibank FlexiHome Loan offers you flexibility in your home loan repayment.
As the name suggests, it’s a flexible mortgage that lets you pay off your debt at your own pace. Pay more when you have excess cash or withdraw cash when you are in need of liquidity, whenever you want.
Every payment above the monthly installment is *offset against your mortgage on a daily basis, so you pay less interest on your loan.
|Flexibility to deposit more than your monthly instalment or withdraw excess amounts anytime, and as often as you wish.|
|Daily interest calculation for interest savings.|
|Option to start your principal repayments even while your property is under construction, to reduce your financial commitments quickly.|
|Optional MRTA or MLTA insurance plan to safeguard your home.|
|Excess payment available for withdrawal is protected by PIDM up to RM250,000 for each depositor*.|
*A PIDM Member. Excess payment available for withdrawal is protected by PIDM up to RM250,000 for each depositor.
When you deposit funds in excess to the instalment (“Extra Payment”), your principal will automatically be reduced the following day for the purpose of calculation of interests. Interest will be calculated on the amount which is the difference between the loan outstanding balance and the Extra Payment deposited into the Flexi current account (a non-cheque book current account)(“Interest Offset Feature”).
The amount of the Interest Offset Feature will be capped at 70% of your total loan outstanding balance (“Offset Cap”). The remaining 30% of the loan outstanding balance which exceeds the Offset Cap will be charged at the effective interest rate of the loan. This is applicable for loans approved on and after 1 January 2016.