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

    1. Current Benchmark Rates and Spread: The Citibank Mortgage Prime Rate (CMPR) is 12.10% effective August 07, 2020. Interest on floating rate loans linked to the CMPR is in the range of 520 bps above and 840 bps below the CMPR.
    2. The interest rate on floating rate loans linked to the Base Rate varies from Base Rate to 700 bps above the Base Rate.

      To know the current Citibank Base Rate, please click here.
    3. 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.
    4. Current TBLR is 3.17 % and interest rate on floating loan linked to TBLR varies from 202 bps to 583 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 a 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.