Published On: Fri, Aug 28th, 2009

Citibank

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Citibank

Relaxable conditions ( on a case – to – case basis)

Maximum Age of Building : 35 yrs
Work Experience of atleast : 2 yrs
Min. Disp Income : Rs 100000
No. of years after establishment of the business : 3 yrs
Annual Sales : Rs 85000
Business was profitable for the last : 3 yrs

Additional Conditions

Security required : 1st mortgage only
Collateral required : No
Free Personal Accident cover : Not Provided by company
Free Personal Property Insurance : Provided by company
Days taken to process/disburse loan : 15 working days

Other Comments

Other Benefit : No guarantor needed for taking loan.

Citibank profile
Documents Required Document to be submitted with application :
For preapproval only (property yet to be located) :
For all applicants/co-applicants :
· Loan application Copy of tax documents for the last two years . (i.e. Income Tax and Wealth Tax returns, statement of wealth if not a Wealth Tax assessee, assessment orders).
· Copy of latest statement of credit cards and car loans.
· Copy of overdraft / cash credit account statements for the last 1 year.
· Two passport sized photographs
· Copy of two positive identifications (passport, driving license, ration card, credit card).
· Signature verification from your banker .
· Copy of insurance policies with latest premium receipt .
· Statement of repayment plan with documentary proof of wealth .
· Statement of bank a/c for the last one year .
If you are employed :
· Salary and TDS certificates .
· Latest Pay slip .
· Letter from Employer (as per format) .
· If job is transferable, proof of permanent residence .
If you are self-employed :
· A note on your business (track record for professionals) .
· Copy of audited financial statements for the last two years .
· List including address and contact person of top five clients .
For approval and disbursal (property already located) :
· All documents mentioned under preapproval above .
· If you are also taking financial assistance for the property from any source other than the bank, then details of that facility .
· Allotment letters and / or Bye-laws of the co-operative society / association of apartment owners .
· Photocopies of title deeds, Agreement to sell, Encumbrance certificate etc. with a title search certificate from an approved lawyer .
For self construction:
· Approved plans and clearance certificates along with estimates .
LIST OF PROPERTY DOCUMENTS TO BE SUBMITTED BEFORE
DISBURSEMENT OF LOANS: ( but after Sanctioning)
1) Under construction/Direct from Builder
· Original stamped receipt for the payment already made to the Builder.
· Original Agreement with the Builder,duly stamped and registered. (If the same has been received from the Sub-registrar’s office)and the original money receipt issued by the sub-registrar,for the registration fee paid by the Applicant.
· OR Pending Registration, following Documents to be obtained:
· Certified true copy of the agreement with the builder
· Original money receipt issued by the sub-Registrar without having any qualify endorsment.
· Acknowledged copy of the authority letter, addressed by the Applicant to the sub-Registrar requesting him to send the Sale Deed to the Bank/Housing Finance Co.
· No objection Certificate to mortgage the property from the builder on his letterhead as per format.
· Letter from the Builder/Architect indicating the latest progress of construction (for under construction cases)
2) Directly in Registered Co-operative Housing Society
· Original Allotment from society specifying the flat number and cost of the flat allotted.
· No Objection Certificate to mortgage the property from the Society, on their letterhead as per format.
· Original Share Certificate issued by the society (if issued).
3) Purchased in resale
· Where society has not been registered.
· In a registered Co-operative society.
· Previous chain of Sale Agreements (original/copies).
· Present Agreement in original, between the vendor and purchaser duly stamped and registered.
OR Pending registration – following documents to be obtained:
· Certified true copy of the agreement between the vendor and the purchaser.
· Original money receipt issued by the Sub-Registrar without having any qualify endorsment.
· Acknowledged copy of the authority letter, addressed by the Applicant to the Sub-Registrar requesting him to send the Sale Deed to the Bank/ Housing Finance Company.
· No objection Certificate to mortgage the property from the Builder/Society on his letterhead as per format.
· Original Share Certificate issued by the Society.
4) Directly from any Development Authority(CIDCO/MHADA etc.)
· Original Allotment Letter from Development Authority.
· No objection certificate to mortgage the property from the Development Authority as per format.
· Original receipts issued by the Development Authority, for the payments made for the flat.
5) Construction of house on a separate plot of land
· Original registered Sale Deed/Lease Deed/Partition Deed/Gift Deed under which the plot of land has been acquired by you.
· OR Pending registration – following documents to be obtained:
· Certified true copy of the agreement with the Builder/Seller.
· Original money receipt issued by the Sub-Registrar without having any qualify endorsment.
· Acknowledged copy of the authority letter, addressed by the Applicant to the Sub-Registrar requesting him to send the Sale Deed to the Bank/ Housing Finance Company.
· Original receipts for the payment made for the plot, if separately available.
· All previous documents of title in respect of the plot in your possession.
· 7/12 extract of property card as applicable for the property along with the record of rights in Form No.5. Index if N.A.permission & latest N.A. tax receipt Title report for the property under consideration.
· Detailed estimate of the cost of the project.
· Approved building plans.
Company Profile
Products:Home loans to Indian customers at floating rate of interest.
· Loans to construct / buy a new home
· Loans against mortgage of property
· Refinance an existing Loan

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