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- Prime Deposit-Linked Mortgage
Matching your deposit and mortgage interest rates is the link to building wealth faster. Upon successful drawdown of your mortgage, we will offer you a Deposit Account with an annual interest rate the same as that of your mortgage.
Citibank Prime Deposit-Linked Mortgage Plan Features & Benefits
- Bundled with a Prime-Based Mortgage plan
- Enjoy high interest rate on your deposit as well as the flexibility to withdraw cash at any time
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Welcome Offers
Benefits
- Bundled with a Prime-Based Mortgage plan
- Deposit interest rate linked to your mortgage interest rate
- Enjoy high interest rates as well as the flexibility to withdraw cash at any time
- A plan for clients with a savings target
Repayment Example
Repayment Example
Mortgage amount: HK$3,000,000
Loan Tenor: 20 years
Deposit: HK$500,000
| Traditional Mortgage | Prime Deposit-Linked Mortgage | |
|---|---|---|
| Mortgage Interest Rate* | 2.15% (P-3.1%) | 2.25%(P-3%) |
| Deposit Interest Rate | 0.01% | 2.25% |
| Monthly Mortgage Installment | HK$15,391 | HK$15,535 |
| Total Mortgage Interest Payment(1) | HK$693,626 | HK$728,104 |
| Total Deposit Interest Returns(2) | HK$960 | HK$207,700 |
| Total Net Interest Expenses(1-2) | HK$692,666 | HK$520,404 |
| Earn an extra HK$206,740 in interest |
Earn 216 timesmore interest |
Save HK$172,262 on total interest expense |
Total interest expense 25% |
|---|
* The above example is for reference only. The Hong Kong Dollar Prime Rate ("P") is 5.25% as of April 2015. The mortgage interest rate is subject to the decision of Citibank® (Hong Kong) Limited.
How To Apply
To apply for a mortgage, you will need to prepare the followings:
If applying in the name of an individual:
- HKID or passport of borrower and guarantor (if applicable)
- Temporary Sales Agreement (for new purchase)
- Latest repayment schedule or latest 3 months' mortgage repayment record (for refinance)
- Latest 3 months' payroll record shown on bank passbook or statement
- Latest tax demand note/ latest tax return / employment letter
If applying in the name of a shell company*:
- HKID or passport of personally guaranteed shareholder
- Temporary Sales Agreement (for new purchase)
- Latest repayment schedule or latest 3 months' mortgage repayment record (for refinance)
- Business Registration / Certificate of Incorporate
- List of Directors / Records documenting the transfer of shares
- Documents showing share distribution
*
Applications in the name of a shell company are not accepted under Mortgage Insurance Program.
The documents listed above are for reference only. Citibank has the right to request additional documents depending on the information provided by each application. Please contact Citibank for details.
Remarks:Remarks:
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aMortgage hotlines service hours: Monday to Friday 9:00am - 7:00pm
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+A deposit amount of less than, or equal to, 50% of the outstanding loan balance can be maintained.
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ΔFirst year fire insurance waiver is subject to the decision of Citibank (Hong Kong) Limited.
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*Our Mortgage Sales Manager will respond to enquiries within the next business day (excluding Saturdays, Sundays and Public Holidays).
Terms and Conditions:Terms and Conditions:
- The Mortgage Loan interest and the Call Deposit Account interest for the Deposit-Linked Mortgage account are both calculated on the basis of Citibank (Hong Kong) Limited's Prime Lending Rate.
- The preferential savings rate will become effective two days after the drawdown date of the Prime Deposit-Linked Mortgage, providing: a. Only one Citibank Currency Manager Call Deposit Account is opened in the name of Borrower / Co-borrower(s') / company and b. A deposit amount (under the above account) of less than, or equal to, 50% of the outstanding loan balance is maintained. Any deposit amount exceeding this limit will be calculated on the basis of Citibank (Hong Kong) Limited's normal call deposit rate.
- Actual interest rate, repayment period and interest expense are depending on customer's existing loan details and Citibank's final approval of loan amount and interest rate. Please contact Citibank for details.
- The sum of money, interest expenses and repayment period in all the examples are rounded to the nearest unit. Quoted savings rates and money amounts are limited to unit place.
- Citibank (Hong Kong) Limited reserves the right to amend the terms and conditions of the above mortgage plans without prior notice.
- Citibank (Hong Kong) Limited reserves the right of the final approval of all loan applications. For further details of terms and conditions applying to any mortgage plans, please contact Citibank.
- In the event of any discrepancy between the English and Chinese versions of this leaflet, the English version shall prevail.
Terms and Conditions for the $800 reward for online application promotion
- Promotion period is from now till Dec 31, 2017.
- Customer must fulfill the below requirement to be applicable for the reward:
- Complete our Mortgage Enquiry Form via "Online Enquiry" in Citibank online page and
- Submit a mortgage application with full sets of relevant required documents provided to the Bank.
- The offer is applicable to mortgages for private residential property, but not applicable to the commercial properties and industrial properties.
- The loan amount applied must be HK$1,000,000 or above. For top up case, the loan amount is referred to the top up loan amount in addition to the existing mortgage loan amount.
- Customer will be eligible for $800 cash coupon for each mortgage application which fulfills the requirement as mentioned above. Customer is entitled to this reward upon mortgage loan approval, regardless of accepting the loans offers or not.
- The cash coupons are non-transferable and non-exchangeable for cash, credit or any other items. Terms and Conditions apply to the use of cash coupons, for details, please refer to the overleaf of the cash coupons. Citibank makes no representation or guarantee as to the quality of the goods and/ or services provided by the merchants. Citibank shall bear no responsibility or liability whatsoever with regards to any matters arising from or in connection with the goods and/or services provided by the merchants. Any disputes or complaint in respects of the good and/ or services should be directed to the merchants.
- The cash coupons will be collected by customer from our staff upon loan confirmation documents signing or individual appointment made after application processed with offers.
- This promotion is not applicable to U.S. persons.
- Actual interest rate, repayment period and interest expense are depending on customer's existing loan details and Citibank's final approval of loan amount and interest rate. Please contact Citibank for details.
- Customer cannot apply the mortgage loan through other referral source or already submitted mortgage application by other channel to Citibank.
- Citibank reserves the right to vary or cancel the promotion and/ or amend these Terms and Conditions at anytime without prior notice. All matters and disputes will be subject to the final decision of Citibank.
- Citibank (Hong Kong) Limited reserves the right of the final approval of all loan applications. For further details of terms and conditions applying to any mortgage plans, please contact Citibank.
- In the event of any discrepancy between the English and Chinese versions, the English version shall prevail.