Innovative Citi Home Loan Program Enables Customers to Pay Off Mortgage Faster and Pay Less Interest

  Innovative Citi Home Loan Program EnablesCustomers to Pay Off Mortgage
  Faster and Pay Less Interest

    Program Available To Citi Customers Across The New York Tri-State Area

Business Wire

NEW YORK -- April 24, 2013

Citi announced today the launch of the Citi Offset Mortgage, a new program for
Citi first mortgage customers allowing them to use their Citibank Day-to-Day
Savings Account balances to earn rewards which are paid against their mortgage
balance. This unique program allows Citi customers to pay off their loan more
quickly while paying less interest over the lifeof their mortgage.

“We’re constantly listening to our customers, and we understand that paying
off their loans faster and paying less interest is important. With Citi Offset
Mortgage, our customers also enjoy the peace of mind that they can access
their savings for any need or for emergencies,” said Sanjiv Das, President and
CEO of CitiMortgage. “We recognize that our customers’ needs are continuously
evolving and as an organization, weare committed to offering financial
solutions that help reduce complexities in their financial lives.This new
program is unique in that it helps our customers optimize their financial
portfolio, better manage their debt and allowstheir money to work harder
while maintaining complete flexibility.”

Rolled out successfully as a pilot program in 19 Citibank branches last year,
the Citi Offset Mortgage will be offered to Citi customers interested in
refinancing or purchasing a new homein the New York tri-state area.

“Consumers want their banking relationship todeliver greater rewards and
value,” said Stephen Troutner, Citi’s Head of Branch Network and Banking
Products for U.S. Consumer Banking. “The Offset Mortgage is a perfect example
of how we are helping customers manage their finances by leveraging a broader
relationship with Citibank.”

The deposits in the customer’s Citibank Day-to-Day Savings Account are used to
reduce or “offset” the outstanding mortgage balance. Each month, an “offset
reward” calculated from savings deposits will bepaid by Citi and applied
towards mortgage loan principal.

Example: a participating customer with a loan amount of $500,000 at a 3.75%
interest rate (3.802% APR)* and a deposit account with a $50,000 balance will
initially receive a monthly “offset reward” of nearly $160. This allows them
to pay off their mortgage approximately two years faster, and saves over
$32,000 in interest over the term of their mortgage.

Participants should consult their tax advisors as the offset credit will
result in interest income that will be filed with the IRS. Also, the maximum
savings account balance eligible for offset is 10% of the unpaid mortgage
principal each month. All new mortgage loan amounts are eligible, however, the
Offset Program is limited to certain loan products and subject to standard
credit guidelines and loan approval.

Customers must have a Citibank Day-to-Day Savings Account and an automatic
monthly debit for standard mortgage payment from a Citibank checking account
to participate. Customers can add or withdraw money from their Citibank
Day-to-Day Savings Accounts at any time without penalty, and the offset reward
will be calculated each month after determining the eligible balance based on
the average daily balance of the Citibank Day-to-Day Savings Account as it
appears on the account statement for the statement period that ends during the
prior calendar month.

*The 3.75% interest rate has an APR of 3.802%; quoted rates are effective as
of November 27, 2012

About Citi

Citi, the leading global bank, has approximately 200 million customer accounts
and does business in more than 160 countries and jurisdictions. Citi provides
consumers, corporations, governments and institutions with a broad range of
financial products and services, including consumer banking and credit,
corporate and investment banking, securities brokerage, transaction services,
and wealth management.

Additional information may be found at | Twitter: @Citi |
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© 2012 Citigroup Inc. Citibank, N.A., Member FDIC. Citi and Citibank and Arc
Design are registered service marks of Citigroup Inc.


Mark Rodgers, 212-559-1719
Stephanie Lowenthal, 212-453-2418
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