Investment Basic Variable P&I 2.39-2.49% p.a., Interest Only 2.69%-2.79% p.a. @ Citibank

Citibank has announced further changes to their pricing, all available with their $4k to $8k cashback, with key changes as follows (available for applications submitted after 1 December 2020; note that some of these rates are only available through a Citibank "Select" or "Gold" Broker):

Investment P&I

• 2.49% Basic Variable P&I (Comp 2.54%)
• 2.39% Basic Variable P&I (Comp 2.44%) – when secured with an Owner Occupied property
• 2.69% Variable with Offset (Comp 2.84%)
• 2.59% Variable with Offset (Comp 2.74%) – when secured with an Owner Occupied property

Investment IO

• 2.79% Basic Variable (Comp 2.84%)
• 2.69% Basic Variable (Comp 2.74%) - when secured with an Owner Occupied property
• 3.09% Variable with Offset (Comp 3.24%)
• 2.99% Variable with Offset (Comp 3.14%) – when secured with an Owner Occupied property

Fee options

• Option 1: $649 upfront, $8 per month ongoing (standard)
• Option 2: $250 upfront, $350 pa ongoing (package)

Notes:

• Due to unprecedented volume, we are generally only able to assist potential Citi clients with lending larger than $500k excluding offset and redraw at this time. Feel free to PM me if you fall below this threshold as we may be able to assist on an exception basis.

$4k to $8k CITIBANK CASHBACK

As we are a Premium Select Broker with Citibank, we can offer $4k cashback per application. This means we can actually offer a $8k cashback for customers with 2 properties. We also have access to 2 day SLA priority processing.

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OTHER RATES FROM CITIBANK

Home Loans P&I

1.99% for 2 years fixed for home loans (Comp 2.92%)
2.09% for 3 years fixed for home loans (Comp 2.94%)
2.29% for basic variable rate (Comp 2.34%)
2.49% for variable with offset (Comp 2.89%)

Investment Loans P&I

2.29% for 2 years fixed for investment loans (Comp 3.09%)
2.39% for 3 years fixed for investment loans (Comp 3.23%)

Interest Only for Investment

2.49% for 2 years fixed (Comp 3.37%)
2.59% for 3 years fixed (Comp 3.50%)
3.09% for basic variable (Comp 3.14%)
2.99% for basic variable (Comp 3.04%) – when secured with an Owner Occupied property

Qualifying criteria for the $4k Citibank Cashback

• The $4,000 cashback is ONLY available through Premium Select Status Brokers
• Via Citibank, we can offer $4k cashback per property (maximum 2, requires 2 applications)
• This means we can actually offer $8k cashback if there are 2 properties.
• Total lending per application must be a minimum of $350k; (does not include cashout against an unencumbered property)
• Loan to Value ratio must be less than or equal to 80%

Comparison Rates

Any quoted comparison rate is only true for the example given and may not include all fees and charges. Different terms, loan amounts or fees may result in a different comparison rate. Comparison rates are based on a loan amount of $150,000 over a loan term of 25 years.

Note that comparison rates can be misleading depending on your loan size, as the assumed $150k loan size means that fees have an outsized impact on the comparison rate calculation. This is why we include a "true rate" in the solution proposal we provide you with, as this factors in your actual total lending instead of the arbitrary $150k. Comparison rates also assume that the revert rate (in the case of fixed loans) will be the actual rate you remain on upon fixed expiry, where usually we would negotiate a new fixed term or variable rate discount with your lender on your behalf.

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$1k LOAN BASE CASHBACK

In addition to the Ctitibank rate, we are offering a $1k upfront cashback for utilised lending larger than $750k (excluding offset and redraw) for any fixed term loan of 2 years or more. Please mention the OzBargain coupon when speaking with us to obtain this cashback offer.

This makes the total available cashback on Citibank deals up to $9,000 if you have 2 properties and more than $750k of utilised lending.

Qualifying criteria for the Loan Base Cashback

• Cashback only applies for fixed term loans of 2 years or more
• You must mention this Oz Bargain offer to qualify for this cashback.
• If you proceed with an application for one of the above 2+ year fixed products and successfully settle total utilised lending (net of offset or redraw) of more than $750k, we will provide you with a $1,000 cashback after settlement.
• This cashback offer is only available for applications submitted onwards from November 4th 2020.
• Maximum of 1 cashback per household (e.g. per couple)

HOW TO APPLY

Citibank direct won't be able to offer the $4k cashback or some of the above discretionary rates. As a premium online broker, we offer a completely free service and advice.

Leo Gonzales
E: [email protected]
Book time into their calendar: https://calendly.com/loanbase-leo/initial

Loan Base Pty Ltd (ABN 95 162 141 915) · Australian Credit Licence Number 508 308
Head Office: Level 1, 1-5 Link Road, Zetland, NSW, 2017. Phone: 1300 512 377.