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Citibank Home Loan

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Our recommendations

Loans with the lowest interest rate based on your search
Lowest interest
CitiGold 3 year Fixed
Fixed
Rate Type
3 years
Lock-in Period
S$12,616
Instalment Year 1
2.98%
Interest Rate Year 1
Rates and Instalments
Year 12.98%S$ 12,616 /mo
Year 22.98%S$ 12,616 /mo
Year 32.98%S$ 12,616 /mo
Thereafter4.55%3M SORA + 1.00%S$ 15,056 /mo
Figures on this page may be rounded up or down to the nearest dollar to make them easier to compare. Mortgage rates shown may differ from those offered by a lender when you apply for your mortgage and, in some instances, may also vary based on your credit or payment history. PropertyGuru and its affiliates accept no liability for any change in mortgage rates, which are entirely at a lender's discretion.
Lowest interest
CitiGold 2 Year Fixed
Fixed
Rate Type
2 years
Lock-in Period
S$12,810
Instalment Year 1
3.10%
Interest Rate Year 1
Rates and Instalments
Year 13.10%S$ 12,810 /mo
Year 23.10%S$ 12,810 /mo
Year 34.55%3M SORA + 1.00%S$ 15,148 /mo
Thereafter4.55%3M SORA + 1.00%S$ 15,148 /mo
Figures on this page may be rounded up or down to the nearest dollar to make them easier to compare. Mortgage rates shown may differ from those offered by a lender when you apply for your mortgage and, in some instances, may also vary based on your credit or payment history. PropertyGuru and its affiliates accept no liability for any change in mortgage rates, which are entirely at a lender's discretion.
Lowest interest
Citibank 3 year Fixed
Fixed
Rate Type
3 years
Lock-in Period
S$12,974
Instalment Year 1
3.20%
Interest Rate Year 1
Rates and Instalments
Year 13.20%S$ 12,974 /mo
Year 23.20%S$ 12,974 /mo
Year 33.20%S$ 12,974 /mo
Thereafter4.55%3M SORA + 1.00%S$ 15,091 /mo
Figures on this page may be rounded up or down to the nearest dollar to make them easier to compare. Mortgage rates shown may differ from those offered by a lender when you apply for your mortgage and, in some instances, may also vary based on your credit or payment history. PropertyGuru and its affiliates accept no liability for any change in mortgage rates, which are entirely at a lender's discretion.
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We found 9 other home loans for you

These rates are accurate as of 12 September 2024

CitiGold 1 Year Fixed

Rate TypeFixed
Lock-in Period2 years
Interest Rate Year 13.20%
Instalment Year 1S$ 12,974 /mo
Interest Rate Year 13.20%

CitiGold 1 Year Fixed

Rate TypeFixed
Lock-in Period2 years
Interest Rate Year 13.25%
Instalment Year 1S$ 13,056 /mo
Interest Rate Year 13.25%

CitiGold 2 Year Fixed

Rate TypeFixed
Lock-in Period2 years
Interest Rate Year 13.30%
Instalment Year 1S$ 13,139 /mo
Interest Rate Year 13.30%

Citibank 2 year Fixed

Rate TypeFixed
Lock-in Period2 years
Interest Rate Year 14.00%
Instalment Year 1S$ 14,322 /mo
Interest Rate Year 14.00%

CitiGold 3M SORA Package

3M SORA + 0.55%Floating
Lock-in Period2 years
Interest Rate Year 14.10%
Instalment Year 1S$ 14,496 /mo
Interest Rate Year 14.10%

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Citibank 3M SORA Package

3M SORA + 0.65%Floating
Lock-in Period2 years
Interest Rate Year 14.20%
Instalment Year 1S$ 14,671 /mo
Interest Rate Year 14.20%

Citibank 1 year Fixed

Rate TypeFixed
Lock-in Period2 years
Interest Rate Year 14.25%
Instalment Year 1S$ 14,758 /mo
Interest Rate Year 14.25%

CitiGold 3M SORA Package

3M SORA + 0.80%Floating
Lock-in Period2 years
Interest Rate Year 14.35%
Instalment Year 1S$ 14,934 /mo
Interest Rate Year 14.35%

Citibank 3M SORA Package

3M SORA + 0.95%Floating
Lock-in Period2 years
Interest Rate Year 14.50%
Instalment Year 1S$ 15,201 /mo
Interest Rate Year 14.50%

Citibank Home Loan

Citibank offers home loans in Singapore for under construction and completed private property and Executive Condominiums, as well as resale HDB flats, with a choice between fixed interest rate or floating rate mortgage packages.

Citibank HDB Home Loan

Citibank offers mortgage loan packages for new and resale HDB flats as well as both completed and under construction Executive Condominiums. These can be an attractive alternative to an HDB loan due to the more competitive interest rates. They also offer private property home loans for a full range of property types, including resale and under construction condos, strata landed houses and landed property.

Bank nameCitibank
Loan typesFixed, Floating, SIBOR
Lock-in0, 2, 3 years

SIBOR Home Loan

Citibank offers floating rate home loan packages pegged to the Singapore Interbank Offer Rate (SIBOR). Their fixed interest home loan packages also use SIBOR as a benchmark once the interest rate is converted to a floating rate. SIBOR is a benchmark rate that is frequently used by banks to determine their floating interest rates, and measures the interest rate charged for unsecured loans on the Singapore interbank market. In other words, it is the interest rate charged by banks when lending to other banks.

FHR Home Loan

The Fixed Deposit Interest Rate (FHR) is a home loan interest rate derived from the bank's interest rate for fixed deposits. The FHR is typically set internally by the bank and tends to be quite stable, although the bank reserves the right to amend it at any time. Fixed interest home loans can offer fixed interest rates pegged to the FHR during the fixed rate period.

Board rates Home Loan

Board rates are interest rates that the bank determines internally and can change at its discretion. Citibank's floating interest rates are pegged to SIBOR rather than to board rates.

Building Under Construction (BUC) Home Loan

Citibank offers home loans for private property, HDB flats and HDB Executive Condominiums that are still under construction. BUCs are properties which have not yet been issued a Temporary Occupation Permit (TOP) and for which buyers have not yet received the keys. Payment for BUCs is made according to a progressive payment scheme. The bank will make disbursements whenever they are called for by the developer. Your home loan repayments will commence only after the first disbursement has been made.

Bridging loan

Citibank's bridging loan enables you to finance the purchase of a new property before selling an existing one. The term of the loan covers the period of time, typically a few weeks or months, in between the purchase of the new property and the sale of the old one.

Home Loan Promotions

There are occasional promotions on Citibank home loans. For instance, the bank might announce promotional interest rates from time to time, or offer legal subsidies, which are typically calculated as a percentage of the loan principal amount and can be used to lower the cost of legal fees. To find out more about the latest Citibank home loan promotions, get in touch with our Mortgage Experts.

Citibank Home Loan Refinance

If you have an existing home loan with a different bank, it is a good idea to compare home loan interest rates with other banks on the market in order to identify good refinancing opportunities. You can consider refinancing to a Citibank home loan if Citibank's interest rates are competitive compared to those on your current home loan. If you need help comparing home loans, get in touch with PropertyGuru Finance.

Home Loan Promotions

There are occasional promotions on Citibank home loans. For instance, the bank might announce promotional interest rates from time to time, or offer legal subsidies, which are typically calculated as a percentage of the loan principal amount and can be used to lower the cost of legal fees. To find out more about the latest Citibank home loan promotions, get in touch with our Mortgage Experts.

Citibank Home Loan Refinance

If you have an existing home loan with a different bank, it is a good idea to compare home loan interest rates with other banks on the market in order to identify good refinancing opportunities. You can consider refinancing to a Citibank home loan if Citibank's interest rates are competitive compared to those on your current home loan. If you need help comparing home loans, get in touch with PropertyGuru Finance.

Apply for Citibank Home Loan Through Us

Compare Citibank home loan interest rates on PropertyGuru Finance and apply for a loan on PropertyGuru with guidance from our Mortgage Experts.

Documents Required

You will need the following documents when applying for a Citibank home loan:

  • Copy of NRIC/passport
  • Latest computerised payslip/IR8A
  • Two year's tax return (for self-employed)
  • Two year's commission statement (for commission-based applicants)
  • Option to Purchase (OTP)
  • Latest CPF statement of account (if using CPF savings)
  • Latest CPF withdrawal statement for existing property (if applicable)
  • Option of sale for existing property (if applicable)

Process and Fees

After your application has been received by the bank, you will be issued with a Letter of Offer when it has been approved. Before you accept the offer, you will not have to pay any fees or charges. However, once you have accepted it, you might be subject to certain fees and charges if you later wish to change the terms of the loan such as the loan amount.

Citibank Home Loan Eligibility

The Citibank home loan eligibility criteria are as follows:

Citibank Home Loan Eligibility
Age21 to 65 years old
Citizenship or resident statusSingapore Citizens, Permanent Residents and Foreigners
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Expert's opinion

When choosing between a fixed rate and floating rate home loan, there are many factors to consider, including whether you can tolerate interest rate fluctuations and your predictions for interest rate movements over the next few years.

You can speak with one of PropertyGuru's Mortgage Experts for advice on the best type of loan for your needs.

Expert's opinion

Frequently Asked Questions

  • You can pay off your home loan through monthly installments using cash or CPF savings (if eligible).

  • You can pay off part or all of your home loan early, but you may have to pay a prepayment penalty, depending on the terms of your home loan package. Alternatively, you can choose to shorten the tenure of your home loan. If approved, you will pay higher monthly installments.

  • You must be 21 to 65 years of age. To check if a Citibank home loan is suitable for your financial situation, reach out to PropertyGuru Finance.

  • Fixed interest rates are pegged to Citibank's board rate, while floating interest rates are pegged to the Singapore Interbank Offered Rate (SIBOR).

  • Yes, but you might incur prepayment penalties depending on the term of your package. To find out when to refinance, get in touch with PropertyGuru Finance.

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Private property loan Singapore: Getting a loan for your home

Congratulations on finding your dream home! Now, it's time to think about financing your latest property purchase. If you are buying private property in Singapore, chances are that it will cost more than $1 million.
Most of us cannot afford such a large sum and would generally rely on a house loan to pay for it over a period of up to 35 years, which is the maximum loan duration for private property.

Property loan Singapore: How to get a property loan?

Not sure where to start? Here's an overview of the steps needed to get a property loan and buy a condo or landed property.
  1. Work out your budget with the PropertyGuru Finance's Mortgage Affordability Calculator.
  2. Secure an Approval-in-Principle (AIP), also known as In-Principle Approval (IPA).
  3. Compare bank loans on PropertyGuru Finance.
  4. Obtain a bank loan and receive a Letter of Offer.
  5. Exercise your Option to Purchase (OTP).
  6. Proceed to buy the property.
Unlike HDB flats, private property purchases are not eligible for the HDB Housing Loan.

Types of bank loans: Fixed vs floating rate packages

If you haven't yet got a clue which property loan to choose, there are two main types of mortgage packages: Fixed rate and floating rate.

Fixed rateHome loans which remains fixed for the duration of their lock-in period
Floating rateFluctuating rates that are linked to SORA

Fixed rate private property loan

For fixed rate private property loans, your instalments will remain the same until the end of the lock-in period. The lock-in period ranges between one to five years, depending on the home loan package you choose.
Once the fixed interest rate time frame is complete, it will change to a, usually more expensive, floating interest rate. At this point, you should explore refinancing options which may help you enjoy more savings.

Floating rate private property loan

Floating rate packages are those with interest rates that fluctuate during the loan tenure. Usually, it is pegged to another index such as against a published industry rate like the Singapore Overnight Rate Average (SORA).
It can also be linked to one of the bank's other products such as its fixed deposit rate. The bank can also choose to offer its own in-house rate known as a board rate.

Fixed rate vs floating interest rate for your private property loan

Theoretically, it's beneficial to choose fixed rates when interest rates are rising and opt for floating rates when the interest rate environment trends down.
But these things are hard to predict. You need to take into account factors like your personal preference, risk appetite and financial situation to find the most suitable private property loan for you.
Getting a personalised recommendation is one way for you to ensure your private property loan is suited for you. For such personalised recommendations and guidance, speak to our Mortgage Experts!

Private property loan Singapore

You can only finance private properties with a private property loan

HDB loan only applies to HDB flats and Executive Condominiums (EC). Therefore, you can only finance your private property with a private property loan.

Private property loans generally offer more competitive interest rates

Private property loans require a higher down payment is required for a bank loan compared to an HDB loan, financial institutions typically offer better interest rates to sweeten the deal.
In the case of floating rate packages, the interest rates of these types of private property loans fluctuate according to market conditions.
Taking a private property loan is generally cheaper because of its lower interest rates. But this may not always be the case because interest rates can fluctuate.
The best move to make is to ensure you are always looking out for the best possible interest rates on your private loan.
Getting recommendations from our Mortgage Experts is highly recommended. And make sure to gauge your affordability using the PropertyGuru Finance mortgage affordability calculator. It helps you figure out the cost of home ownership in Singapore.

Private property loan has a lock-in period

Unlike HDB housing loan, which has no lock-in period, most private loans have a lock-in period.
A lock-in period lasts between one to five years. During the lock-in period, you can't change the terms of your private loan.
The duration, interest rate, and loan amount are decided when you sign the mortgage agreement. If you wish to pay off your loan early or refinance with another bank before the lock-in period is up, you will incur a penalty. The penalty is usually 1.5% of the loan amount.
The same goes for changing the duration and/or interest rate of your loan.

Building Under Construction (BUC) properties also fall under private property loan

BUC properties simply mean properties that are still in the process of being completed. BUCs are like the Build-To-Order (BTO) flats of the ECs, condominiums and landed properties.
Private property loan is not only restricted to completed projects. If you need to finance your home that is still under construction, you can search for a suitable private property loan to finance your dream property.
You can look for mortgage brokers, including PropertyGuru Finance's team of dedicated Mortgage Experts, to guide you through the process.

Take note of the property loan limitations

Most of us will require a loan when we get our dream home. However, there are some regulations set in place by the Singapore government to inform us on the limit of our loans to finance our property.

LTV limit

The Loan-to-Value (LTV) ratio is the maximum amount that homeowners can borrow from HDB and financial institutions, put in place by the government.
LTV can be calculated by dividing the loan amount by the property value. The maximum LTV for private property loans is 75%.

TDSR limit

In addition, your Total Debt Servicing Ratio (TDSR) cannot be more than the threshold of 55%, which can be computed by dividing your total monthly debt payments by your gross monthly income.
This ensures that you will have enough funds to repay your monthly debt obligations, which includes your credit card payments, car payments, and mortgage payments.
If you decide to opt for a private loan from the bank, the maximum loan period for an HDB flat and a private property is 30 years and 35 years respectively.
You can use our mortgage affordability calculator to estimate your maximum mortgage loan.

Property loan Singapore: Loans aren't the same everywhere

They are very similar, but not the same. The amount that you are borrowing affects the monthly instalment that you need to pay every month.
You can choose to pay a higher sum of instalments every month so that you can pay up your housing loan debt as soon as possible.
Or you may pay a lower sum to ensure a healthy cash flow every month.

Interest rate can still differ

You should have already learned that there are two types of interest rate packages - fixed and floating rates.
While floating rates are dependent on market conditions, fixed rates are locked in for a period of time.
However, both floating and fixed rates can differ from bank to bank. It also depends on which type of private loan package you are taking.
Lower interest rates means greater savings and helps you keep your home loan affordable

Lock-in periods are different

Banks offer different lock-in periods for mortgage loans. This can last anywhere between one to five years.
If you are always looking out for the best deals on the market, you can choose one with a shorter lock-in period so that you can refinance or reprice after the end of the lock-in period.
Sometimes, refinancing your mortgage loan with another bank comes with its own perks. That said, refinancing can be a tedious process and you will need to pay additional legal and valuation fees.
Consider using SmartRefi to find out the best time to refinance. SmartRefi also helps you to search for the most affordable mortgage package. At the same time, our Mortgage Experts can also assist you in handling the paperwork to make your home ownership experience stress-free

Occasional promotional offers from banks

Banks may offer occasional perks such as sign-on bonus, customisation of loan packages, and cashback to maintain competitiveness. You want to take advantage of such promotional offers when you refinance your private loan.

Private loan in Singapore: Keep a lookout even after signing your loan package

Even after you sign a private loan package, don't get complacent. You still get a chance to refinance or reprice after your lock-in period with the bank ends. At that point, you may want to consider switching to a new property loan package within the same bank, also known as repricing, or switch to a new bank, known as refinancing .
For a more detailed comparison, you may read our article on repricing and refinancing .

Is there someone to help with your private property loan?

Our team of friendly Mortgage Experts from PropertyGuru Finance can help you monitor your lock-in expiry and give you a reminder once your lock-in period is up.
They are a group of professionals with years of industry experience dealing with loan financing and mortgaging.
They can provide you with personalised advice by considering your current and future financial status. Tapping into the expertise of a mortgage broker can help you squeeze more savings from your private loan.
Thus, harness their experience and let our Mortgage Experts help you look out for good deals on the market.
The best part is their service is absolutely free!
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