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First Time Home Buyer in Malaysia

Property ownership has always been one of the most popular assets and one where our parents, friends and peers would encourage us to acquire as we progress in our career. The appeal of having a physical tangible asset is enticing because we can utilize this asset in many ways; either for your own stay, for rental or keep it as an investment for future.

Buying a house for the first time could be a tricky decision. As a first time home buyer, you might face various challenges with arranging for finances being a prominent one. With Citibank’s mortgage product offer, you can easily fulfill your dream of owning your home.


Benefits of First Time Home Buyer Loan

There are various benefits a first time home buyer can enjoy while applying for a new mortgage with Citibank:

  • Competitive interest rates.
  • 10-minute home loan approval.
  • Daily interest calculation for interest savings.
  • Flexibility to make early or extra payments. No notice required, no fee charged.


Factors You Should Consider When Applying for a Mortgage

  • Interest Rate

    The interest rate of the mortgage determines your monthly instalments and thus your budget. The changes in Base Rate is applicable for loans/ financing facilities that are pegged against Base Rate. At Citibank, our Base Rate can rise or fall due to changes in the benchmark cost of funds (COF) and changes in the Statutory Reserve Requirement (SRR). Changes in the benchmark COF could occur due to changes in the Overnight Policy Rate (OPR) as decided by the Monetary Policy Committee of BNM, as well as other factors such as market funding conditions.
  • Documents Required

    For an individual (who is a salaried employee) and wish to apply for a Citibank Mortgage, you will have to submit the following documents -
    • Copy of NRIC
    • Latest 3 months’ salary slips
    • Latest EPF statement
    • Sales and Purchase Agreement or Title or Booking Receipt
    Note : Citibank may require additional supporting documents as may deemed fit for the loan application.
  • Significant Costs

    While getting a new mortgage, it is necessary that you read the loan agreement carefully. A loan agreement contains all the important aspects like the interest rates, foreclosure and prepayment charges, repayment schedule etc. Reading the agreement will help you understand the features and terms of your loan better.


Own your First Dream Home with Citibank Mortgage

Researching, understanding and analyzing information on mortgage products are the first steps toward selecting a flexible and cost-effective mortgage. At Citibank, we offer 2 key products, namely:

  • Citibank Housing Loan

    – Citibank Housing Loan makes your dream of owning a home into reality. Getting home loan from Citibank involves a simple application process and it takes only 10 minutes for your home loan to be approved. It's a home loan that gives you savings, competitive interest rates, and the flexibility to make extra instalment repayments. If you have a stable monthly disposable income and prefer a well-managed budget with disciplined monthly instalments, the Citibank Housing Loan is a perfect choice.
  • Citibank FlexiHome Loan

    – Citibank FlexiHome loan offers you flexibility in your mortgage 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. In other words, when you deposit extra payment, your principal will be automatically reduced the following day for the purpose of calculation of interests. If financial freedom is your goal, then Citibank’s FlexiHome Loan will help you achieve it faster.


To find out how Citibank Mortgage can help you meet your financial commitment and goals, click here and drop us your details. Our sales specialists will be in contact with you the next working day.