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 12.15% effective October 07, 2020. Interest on floating rate loans linked to the CMPR is in the range of 320 bps above and 855 bps below the CMPR.
- The interest rate on floating rate loans linked to the Base Rate varies from Base Rate to 645 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 485 bps above the MCLR.
To know the current Citibank MCLR, please click here.
- Current TBLR is 3.25% and interest rate on floating loan linked to TBLR varies from 172 bps to 585 bps above Base Rate.
- 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.