Finance Details

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Lender NameCitibank
Loan nameBasic Variable - LVR >80% to 85% <$500K (No LMI) (Principal & Interest) (Investment)
Initial %4.91%
Ongoing %4.91%
Max Term Fixed Rate0
Max Term Interest Only0
Interest Type (Initial)Basic Variable
Interest Type (Ongoing)Basic Variable
Repayment FrequencyFortnightly,Monthly,Weekly
Repayment Type (Initial)Principal and Interest
Repayment Type (After Initial)Principal and Interest
Additional Loan Splits Allowed3
FinancialsFull Doc
Non ConformingNo
Product Type: CommercialNo
Product Type: Owner OccupiedNo
Product Type: InvestmentYes
Product Type: EquityYes
Product Type: ConstructionNo
Product Type: Vacant LandNo
Product Type: Line of CreditNo
Product Type: ReverseNo
Product Type: BridgingNo
NotesFor customers who are looking to enter the property market with a low interest rate and lower repayments. A ?no frills? mortgage for home or investment purposes. Interest is calculated daily and charged monthly in arrears. Additional repayments can be made at any time without incurring a penalty. Security ? First mortgage over an acceptable residential property. (OOC or INV) Statements ? 6 monthly for the periods ending 30th June and 31st December. Quarterly statements can be issued upon request. Product may be combined with Standard Fixed products. Internet / Phone Banking is conditional on having other Citibank transaction accounts. Loan Redraw $0 online. Otherwise fees occur. Refinance loan with cash out only available for new customers with lending >$500K. For new to bank customers with lending <$500K, the maximum cash out will be capped at 5% of the loan being refinanced. (Note Cash out includes credit card/personal loan consolidation)
ERP Notes
BC Notes
Other Fee NotesQuoted application fee includes the cost of valuation up to $500. Loan increase fee: $300 plus valuation cost. Portability fee: $450 (includes the cost of valuation up to $500). Addit
Max LVR85.00%
Capitalise LMINo
LVR NotesLVR without LMI 80-85% For loans with an LVR over 80% LMI will be required. Maximum LVR up to 90% plus LMI. Maximum loan amounts are subject to Location Classifications, se
Genuine SavingsYes
Genuine Savings NotesFor loans requiring LMI: Where the LSR is above 85%, the borrower must provide at least 5% of the purchase price from genuine savings. For loans not requiring LMI: While there is no genuine savings requirement, applicants will have to provide evidence of funds to complete the transaction. The funds can be: - Gifts ? a statutory declaration is required stating that the funds is gift and is not required to be repaid. - Borrowed ? must be included in the serviceability calculation.
Min Loan$50,000.00
Max Loan$499,999.00
Min Term1
Max Term30
Est Fee$0.00
App Fee$399.00
Val Fee$0.00
Legal Fee$0.00
S/m Fee$250.00
Upfront Fee$649.00
Ongoing Monthly Fee$0.00
Ongoing Annual Fee$0.00
Exit Fee$350.00
Fixed Fee$300.00
Other Fee$0.00
Internet BankingYes
Credit CardNo
BPay OptionNo
Professional PackNo
Cheque AccountNo
Intro RateNo
Telephone BankingYes
Direct Salary CreditNo
Portability of LoanYes
Redraw AvailableYes
Offset AccountNo
Min Redraw$0.00
Free Transactions per Month0
Loan Redraw Fee$0.00
Lender Category Second Tier Bank