What is the loan term for a home equity loan?

The loan term for a home equity loan through Citibank varies depending on several factors. Typically, the loan term can range from 5 to 30 years. However, it is important to note that the specific term will be determined based on factors such as the loan amount, loan-to-value ratio, and the borrower's creditworthiness. Citibank offers flexibility in choosing the loan term to suit individual needs. Shorter loan terms may result in higher monthly payments but can help borrowers save on long-term interest costs. On the other hand, longer loan terms may offer lower monthly payments but may result in higher overall interest expenses. Therefore, it is advisable to discuss the loan term options with a Citibank representative to find the most suitable term for your home equity loan.