Loan Application Process

The Loan Application Process is designed to provide you with information regarding the Citibank Home Loans Program and the steps through which your loan will be processed over the next few weeks. Your Relationship Officer will be your consultant throughout this process, helping you choose the most appropriate loan to suit your needs and assist in coordinating the entire process for you.

The three main stages of the process are described below:

1. Application Stage

In this stage, you will be required to fill out a few forms necessary for the loan application processing:

• Citibank Home Loans Application
• Citibank Account Opening Form

Document Checklist

• General Documents
• Photocopy of the Computerized National Identity Card
• 2 Recent Passport-size Photographs
• Copy of the Property documents for which the loan is required
• Copy of Life Insurance Policies (if any)
• Sale Agreement between the buyer and the seller
• Professional Degree (for Self-Employed Professionals Only)
• Membership certificate (for Self-Employed Professionals Only)
• Tax Documents (any one)
  • National Tax Number certificate
  • IT-88
  • 143-B
  • IT-30
  • IT-11
  • Certificate of Tax Deduction from Company
• Proof of Income
• Latest Salary Slip
• Last 12 months Bank Statement *
• Proof of Business/Employment
  • Salaried individuals
    • Salary Certificate
    • Previous Company's Employment Letter (if total employment period is not covered by Salary Certificate) *
  • Self-employed individuals
• Memorandum and Articles of Association
• Registered Partnership Deed
• Bank Certificate for applicant's company account. Should have the following information: Account Opening Date, Statement Address and Status of the Applicant.
• Import License
• Certified Form A/Form 29
• Latest Income Tax return acknowledgement documents (any one)

Application Fees

You will also be required to make payments for the following charges at this stage

All charges will be paid directly to Citibank N.A. Please note that Application Processing Charges are non-refundable. Legal and Appraisal charges are usually non-refundable, however, a refund is possible in cases where these services have not been initiated by the third party. Citibank N.A. reserves the right to change the charges without any prior notice.

You are requested not to pay cash to any Citibank N.A. representative for any charges or services. All payments must be made through a Pay Order or Crossed Cheque in favour of Citibank N.A..

Items marked with * do not apply to Recognized Company employees.

2.Credit Review Stage

Once your application, the required documents and applicable charges have been received, your case will go through a number of credit review processes. These will include, but may not be limited to:

• A verification of office and residential contact details (Addresses, Phone numbers etc.) for yourself and your referees
• A legal review of the property documents provided by you
• A detailed appraisal to determine the market value of the property.

Apart from these credit checks, you will also have a meeting with your Relationship Manager who will ensure that the bank understands your individual needs and requirements.

3.Processing Stage

Upon satisfactory completion of the Credit Review, you will be issued a Sanction Letter. This letter will indicate the loan amount you will be eligible to receive, subject to the completion of all legal formalities. The financing agreement and other legal documents will be signed at the lawyer's office. Once the legal formalities have been completed, the sanctioned amount will be disbursed and they will be communicated to you through a 'Disbursal Letter'.