Mortgages Reference Rate
- Floating Interest Rate on all loans booked uptil and including September 30, 2019 are linked
to the Citibank
Mortgage Prime Rate or Base Rate or Marginal Cost of Lending rate (MCLR) or Treasury Bill
Benchmark
Linked Lending Rate (TBLR), as provided in the loan agreement.
- For loans booked with effect from October 1, 2019 the interest rate on new loans is
benchmarked to the
Treasury Bill Benchmark Linked Lending Rate (TBLR).
- For details on TBLR, please refer to FAQ
- Current Benchmark Rates and
Spread: The Citibank Mortgage Prime Rate (CMPR) is 13.25%
effective Jun 07, 2022. Interest on floating rate loans linked to the CMPR is in the range of 260 bps above and 895 bps below the CMPR.
- The interest rate on floating
rate loans linked to the Base Rate varies from Base Rate to 535
bps above the Base Rate.
To know the current Citibank Base Rate, please click here.
- The interest rate on floating
rate loans linked to the MCLR varies from MCLR to 480 bps above
the MCLR.
To know the current Citibank MCLR, please click here.
- Current TBLR is 4.95% and
interest rate on floating loan linked to TBLR varies from 101 bps to 573 bps above
the TBLR.
- Conversion of existing loans: Customers have an option to link their mortgage loan to TBLR
instead of the
Base Rate/ CMPR/ MCLR. This would require a supplementary agreement to be executed with the
Bank
and does not involve any additional cost to them. All the terms and conditions as per the
supplementary
agreement apply. Customers may contact us at CitiPhone at 18602102484 or log on to www.citibank.com/india to place a
request to link their mortgage loan to TBLR.
- Such conversion, for customers to whom prepayment charges are not applicable, will be done
in line with
the current pricing as provided under “Current pricing grid” or “Published pricing grid”
published on
Citibank website on time to time basis. For other customers, this will be at mutually
acceptable terms.