Mortgage & Home Loan Frequently Asked Questions

• Home loan approval in 10 minutes.
• Daily interest calculation for interest savings.
• Flexibility to deposit more than your monthly instalment, in any amount at anytime which could help in interest saving.

Mortgage applicants who wish to:

• Finance purchase of completed residential property.
• Refinance completed residential property from other bank.
• Increase line of existing Citibank Mortgage (completed residential property only).

For individual applicant

• Aged between 18 and 60.
• Malaysian citizen or Malaysian with PR abroad & residing abroad.
• Selected Foreign individuals

For company applicant

• Locally incorporated companies only
• Not a Non-Resident controlled company (NRCC)

For Salaried applicant

• Copy of NRIC (front and back)
• Latest 3 months’ salary slips
• Sales and Purchase Agreement or Title or Booking Receipt (where applicable)

For Self-Employed applicant

• Copy of NRIC (front and back)
• Income tax returns - latest BE, B or EA Form (where applicable)
• Form 24 and 49 (business registration forms, if applicable)
• Bank statements for the last 6 months
• Sales and Purchase Agreement or Title or Booking Receipt (where applicable)

• 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.
• If flexible repayment schedule is what you are looking for, Citibank FlexiHome Loan is the right choice. 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.

Note: The amount of the Interest Offset Feature will be capped at 70% of the customer’s 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 Citibank FlexiHome Loan approved on and after 1 January 2016.

Citibank Housing Loan is a term loan credit facility which enable you to finance the purchase of your dream home. You can also refinance your existing housing loan with another bank and/or leverage your residential property as collateral for the purpose of children's education or renovation. Your property will be used as collateral for this loan. Citibank Housing Loan benefits:

• Competitive rates and daily interest calculation for interest savings.
• Disciplined monthly instalments give you peace of mind and the ability to plan for your budget.
• Flexibility to make early or extra payments in any amount at any time. No notice required, no fees charged.
• EPF withdrawal to reduce the outstanding loan.

Citibank Flexihome Loan is a term loan credit facility to enable you to finance the purchase of your dream home. You can also refinance your existing housing loan with another bank and/or leverage your residential property as collateral for the purpose of children's education or renovation. Every payment above the monthly instalment you make into the account is offset on a daily basis against the balance of your Citibank FlexiHome loan, so you pay less interest on your loan. Citibank FlexiHome Loan benefits:

• Flexiblility to deposit more than your monthly instalment or withdraw excess amounts anytime, and as often as you wish.
• Daily interest calculation for interest savings.
• Extra payment available for withdrawal is protected by PIDM up to RM250,000 for each depositor.*
  *A PIDM Member. Extra payment available for withdrawal is protected by PIDM up to RM250,000 for each depositor. Click here for PIDM’s DIS Brochure.

The borrowing amount is subject to your ability to repay, and depends on your income and other financial commitments.

The minimum loan tenure is 5 years and up to 30 years loan tenure or age of borrower at 70 years old at loan expiry, whichever is lower.

Click here to view the full list of fees and charges.

You can pay extra or early in any amount, anytime, no notice required and no fees charged. However, any Extra Payment deposited into the Flexi Current Account (a non-cheque book current account) will bear no interest.

When you deposit Extra Payment, your principal will be automatically reduced the following day for the purpose of calculation of interests. Interests will be calculated on the amount which is the difference between the loan outstanding balance and the Extra Payment deposited in the Flexi Current Account (a non-cheque book current account) ("interest offset feature").

Refinancing provides you with access to a new home loan at an interest rate that is lower than your existing home loan interest rate. You can enjoy interest savings and reduced monthly instalment depending on the effective rate and loan tenure. Moreover, home loan refinancing also gives you the opportunity to obtain additional funds for your home renovation needs.

The base rate, which is the reference rate used by Citibank Berhad on our property loan products, is based on our benchmark cost of funds (COF) and the Statutory Reserve Requirement (SRR) cost imposed by Bank Negara Malaysia. Our benchmark COF reflects the cost of raising new funds and this is based on 3M KLIBOR.

Our BR can rise or fall due to changes in the benchmark COF and changes in the 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 Bank Negara Malaysia, as well as other factors such as market funding conditions.

Lock-in period is the period you will incur a penalty if you choose to pay off your home loan in full before it reaches the end of its tenure. In Citibank, the lock-in period is up to 3 years from date of full disbursement. Early termination penalty (applicable upon cancellation of facility after acceptance): up to 3% will be levied on the original total amount borrowed.

Yes, the Extra Payment you made prior to 1 Aug 2018 will be used to settle your monthly instalments on your loan payment due date, up to 6 months. However, for any Extra Payment that you make into your Mortgage term loan account on and after 1 Aug 2018, the Extra Payment amount will be utilized towards payment of future monthly instalments up to a maximum of 3 months only. Once the Extra Payment of 3 future monthly instalments are met, any Extra Payment amount in addition to the 3 months instalment (including amount which is less than one month instalment) will be used to reduce your outstanding principal loan balance.

Note: This is applicable to all Mortgage term loan accounts. For Citibank FlexiHome Loan, it is applicable only if the customer deposits the Extra Payment into Citibank FlexiHome Loan, 14 digit loan account.

Yes, you may perform EPF withdrawal to reduce your loan outstanding balance. Please note that any Extra Payment including payment via EPF withdrawal in excess of 3 future monthly instalments will be used to reduce your outstanding principal loan balance. In the event if you would like to apply for withdrawal of housing loan monthly installment, EPF allows its members to set up standing instruction for fund from Account 2 to be directly credited to the bank account. The full list of T&Cs and the necessary supporting documents (eg. Housing Loan Balance Statement) can be found at EPF's website.

Note: This is applicable to all Mortgage term loan accounts. For Citibank FlexiHome Loan, it is applicable only if the customer deposits the Extra Payment into Citibank FlexiHome Loan, 14 digit loan account.

No, the above capping/ limit of 3 months future monthly instalments is not applicable if you deposit the Extra Payment into your FlexiHome Current Account. When you make an 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 FlexiHome Current Account (a non-cheque book current account) (“Interest Offset Feature”).

Note: The amount of the Interest Offset Feature will be capped at 70% of the customer’s 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 Citibank FlexiHome Loan approved on and after 1 January 2016.

No, cancellation or reversal of the Extra Payment is not allowed. Rest assured, the Extra Payment which you deposited into your Mortgage term loan account for the payment of future monthly instalments will be utilized towards payment of future monthly instalments up to a maximum of 3 months. Any extra payment in excess of the 3 future monthly instalments will be used to reduce your outstanding principal loan balance.

• Mortgage Reducing Term Assurance (MRTA) / Mortgage Level Term Assurance (MLTA) coverage is OPTIONAL and independent of the loan, and is subject to the underwriting decision of the insurance company.
• If you choose to purchase such coverage, you may apply, through us, to use the service of a panel insurance company. Alternatively, you may apply, on your own, such service from a non-panel insurance company.