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- Citibank Mortgage Power
Be empowered, with more flexibility and more access.
Citibank Mortgage Power is a revolving line of credit at a low variable rate-giving you easy access to your funds.
Citibank Mortgage Power is a revolving line of credit with an approved credit limit that is secured against your property. This means you can access the equity in your home through the same means as an everyday transaction account - ATMs, cheques, BPAY etc - but you are only charged interest on money that you withdraw and the rate is much lower than a credit card rate. In essence, by using your home loan as a line of credit, you can make significant savings when you fund the other big purchases in your life, such as cars, school fees or holidays.
With the power to access the equity in your home anytime, at variable home loan interest rates, you also have the freedom to act on investment opportunities.
Citibank Mortgage Power gives you the power to use the equity in your home to seize opportunities as they happen, rather than wait and possibly miss out.
With Citibank Mortgage Power you can:
- withdraw up to your preapproved credit limit at any time1
- gain immediate access to your credit online or by phone
- enjoy up to seven years of interest only on Mortgage Power (line of credit), or 5 years on the fixed loan portion
- enjoy cheque book and ATM access
- redraw and repay as many times as you like.
| Interest rate | Variable |
| Minimum loan amount | $50,000 |
| Maximum loan amount | $4 Million (with maximum $1 Million per facility on the Mortgage Power portion of the loan) |
| Loan term | Maximum 30 years |
| How much of property value can I borrow? | Up to 90% LVR2 |
| Discount rate available | Yes - arrange to meet with your Citibank Mortgage Specialist now |
| Option of Interest-only repayments? | Yes - for a maximum of 7 years |
| Additional repayments | Yes - at any time without penalty |
| Redraw | Yes |
| Split accounts | Yes - up to 4 accounts with a minimum split amount of $20,000 per account |
| ATM and cheque book access | Yes |
| Loan combination / splits | Yes - can be combined with Standard Variable, Standard Fixed or Standard Offset Mortgage |
| Can I increase my loan amount? | Yes - learn more |
| Fees and charges | Learn more (Adobe PDF, 37kb) |
| Loan Portability | Yes - you can transfer your loan to a different property |
| Loan Protection Insurance | Yes - learn more |
| Application Fee | $399 |
| Annual Package Fee | $0 |
| Settlement Fee | $250 |
| Account Keeping Fees | $12 p/m per account |
Getting started
Citibank Mortgage Power gives you the power to transform your home loan into a flexible and low rate source of credit, to be used and repaid, as many times as you need. Why not use the equity in your home to get more from your loan today, with this flexible line of credit.
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Contact Us
- Find a Mortgage Specialist near you
- New Customers, call us on 1300 361 922
(Mon to Fri, 9am to 5pm AEST) - Changes to your Home loan, call us on
1300 131 127 (Mon to Fri, 9am to 5pm AEST) - Contact your mortgage broker.
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All loans and securities are subject to Citigroup's credit criteria. Establishment and, where applicable, legal fees apply. Terms and conditions apply and are available on request. Fees and charges apply.
- Withdrawals are subject to monthly transaction limits.
- Rates quoted are subject to having Lenders Mortgage Insurance. Lenders Mortgage insurance is insurance that protects the financer in the event of default on home loan payments. It is available up to LVR 90% (inclusive of Lenders Mortgage Insurance premium). Conditions apply.
©2013 Citigroup Pty Limited, ABN 88 004 325 080, AFSL 238098, Australian Credit Licence 238098. Citibank, and Citi Arc design are service marks of Citigroup Inc.