Citi Bank 
Home Loan Interest Rates

Citibank Home Loan Interest Rates are linked to either TBLR or MCLR rates. This makes Citibank home loan interest rates low and affordable. Citibank offers home loans under various schemes. Also, the option of switching between TRLR and MCLR rates adds to customer convenience. With the switchover option being absolutely free, Citibank Home Loan has become the obvious choice.

Citibank Home Loan Interest Rates Details

Type of LoanInterest Rate SpreadApplicable Rate of Interest
Home LoansTBLR 3M (3.35%) + 3.78% p.a. to TBLR 3M (3.35%) + 4.68% p.a.7.13% p.a. to 8.03% p.a.
Home Loans with Home CreditTBLR 3M (3.35%) + 3.93% p.a. to TBLR 3M (3.35%) + 4.83% p.a.7.28% p.a. to 8.18% p.a.
Home Loan Takeover with Enhancement TBLR 3M (3.35%) + 3.98% p.a. to TBLR 3M (3.35%) + 4.88% p.a.7.33% p.a. to 8.23% p.a.
Home Loan Top-Up (with cash out portion within 100% of Home Loan amount)TBLR 3M (3.35%) + 3.98% p.a. to TBLR 3M (3.35%) + 4.88% p.a.7.33% p.a. to 8.23% p.a.

Citibank Home Loan Interest Rate Pricing Grid - Specific Points to Note

  • For top-up loans over 100% of the Home Loan amount: The applicable rate is the weighted average of the grid rates on Home Loan and property power loan.
  • For top-up loans, less than 10% of the Home Loan: The Home Loan interest grid will be applicable.
  • For top-up loans more than 10% and up to 100% of the Home Loan: The rates mentioned above are applicable.
  • Customers have the choice to opt for MCLR or TBLR-linked interest rates
  • They have a switchover option, as well
  • The final Citibank Home Loan interest rate depends on Home Loan amount, the product/facility, internal Citibank loan assessment parameters.
  • As on date, both TBLR and MCLR co-exist in Citibank. Customers are free to choose either of these two benchmark lending rates for their Home Loans.
  • Citibank publishes the TBLR every month based on the FBIL rates (3M Treasury Bill) as on the 12th day of the month. However, the interest rate will be reset every quarter. The TBLR reset dates are the first day of March, June, September, and December. Thus, the effective rate of interest for the entire quarter will depend on the applicable T-bill reference rates as on the first day of the quarter.
  • The bank will publish the TBLR as on the 12th day of every month, but the reset will be valid from the first day of the quarter beginning March, June, September, and December respectively.
  • Switching over from the existing CMPR/Base Rate/MCLR to the TBLR is free. Similarly, one can switch over from the TBLR to the MCLR concept at any time free of cost.
  • The spread will depend on the loan amount, facility, and Citibank internal loan assessment parameters.
  • This MCLR grid is effective from September 7, 2020. (Effective MCLR 3M is 6.30%)

How to Calculate Citibank Home Loan EMI?

Citibank has an EMI Calculator on its official webpage. Entering information such as Home Loan amount, rate of interest, and repayment tenure will give you the Home Loan EMI.

Similarly, you can calculate your Citibank Home Loan EMI using MyMoneyMantra EMI Calculator. Using the calculator is easy. You need to provide information regarding the loan amount, the repayment tenure, and the applicable rate of interest to get the EMI.

To know the interest rate applicable on your loan, you can use the Citibank Home loan interest rate calculator available online.

Check 50 lakh home loan EMI and Apply.

Citibank Home Loan Charges

You will have to bear some charges on your Citibank Home Loan, including Citibank Home Loan Processing Fees, prepayment charges, and so on:

Application fee Non-refundable of up to Rs. 5,000 has to be paid during the processing of home loan
Booking fee Non-refundable of up to 0.40% of loan amount has to be paid during loan documentation
Part prepayment charges
  • Nil for Variable Rate Home Loans and Semi Fixed Rate Home Loans (during the variable rate period).
  • Semi Fixed Rate Home Loans (during the fixed rate period):
  • Nil for prepayment of below 25% (once a year)
  • If the loan is being closed within 1 year of the part prepayment date, the part prepayment will also involve the foreclosure charges.
  • 2% for prepayment above 25% in 1 year during the fixed rate period
Full prepayment charges
  • Nil for Variable Rate Home Loans and Semi Fixed Rate Home Loans (during the variable interest rate period).
  • 2% of loan outstanding for Fixed Rate Home Loans and Semi Fixed Rate Home Loans (during the fixed interest rate period).
NACH/SI/Cheque bounce chargesRs. 500
Penal interest rate2% of the prevailing rate on the outstanding loan amount for the defaulted period
Re-pricing feeNil

*GST as applicable will be added to all the above-mentioned charges

Check Credit score for Free before applying for a Home Loan.

Citibank Home Loan Features

Following are the features of Citibank Home Loan:

  • Loan amount is Rs. 5 Lakhs - Rs. 10 Crores
  • Rate of interest 7.13% - 8.23%
  • Tenure is 25 years
  • Lowest EMI possible is Rs. 715 Per Lakh
  • Application fee Up to Rs. 5,000 (upfront and non-refundable)
  • Booking fee  Up to 0.40% (non-refundable) of the loan amount (to be paid during documentation)
  • Home Loans available for purchasing under construction property and ready property
  • Loan available up to 80% of the property value
  • Flexibility to pay only interest during construction period
  • Rate of interest calculated on daily reducing balance
  • No co-borrowers/ guarantors required
  • CitiPhone platform to answers all queries
  • Access your home loan account online anytime anywhere
  • Availability of preapproved home loan in some cases
  • Top-up available
  • Free Home Loan Eligibility Calculator and Citibank EMI Calculator

Types of Home Loans Offered by Citibank

The type of home loan you are applying for is one of the most important factors that determines the interest rate. Some schemes might have the lowest Citibank Home Loan rate.

  • Home Loan
  • Takeover Plus Enhancement
  • Top Up on Existing Loan
  • NRI Home Loans

Best Value Home Loans

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Citibank Home Loan Interest Rates FAQs

Is the Treasury Bill Benchmark Lending rate equivalent to the repo rate announced by RBI from time to time?

The repo rate is the base rate for all kinds of market-related transactions. The repo rate is the interest rate at which banks borrow from the Reserve Bank of India. The Treasury Bill rate is the rate of interest provided by the Government of India on its short-term debt instruments. The Treasury Bill rate depends on the maturity of the instrument. Treasury bills are issued at a discount by the Government and can be redeemed at face value on maturity. Thus, both the repo rate and the TBLR are market-related rates.

Does Citibank offer differential rates for men and women?

As per the recent data available on the bank’s website, the rates for women are same as Citibank Home Loan Interest Rates for Others.

Who provides the TBLR?

Financial Benchmarks India Pvt Ltd, an independent benchmark administrator, provides the T-bill benchmark rate on its official website.

How does Citibank calculate the TBLR-linked interest rate?

FBIL publishes the T-bill rates for varying maturities. Citibank uses the 3-month T-bill rate as the reference rate for its TBLR calculation that is posted daily. Citibank adopts the 3-month T-bill rate as on the 12th day of each month as its reference rate. It rounds off the rate to the nearest 'five basis points' for its TBLR reference calculation. 

Citibank calculates the TBLR as applicable on the 12th day of the month and adds its interest spread. The spread depends on factors like loan amount, facility type, and credit rating of the borrower.

What is the TBLR reviewing frequency?

Citibank reviews and publishes its TBLR every month. If the 12th day of the month happens to be a holiday, Citibank uses the TBLR for the next working day as the reference rate.

Who are eligible to opt for the TBLR-linked interest rates?

All new and existing borrowers are eligible to opt for the TBLR-linked interest rates. This rate is valid from January 24, 2018.

Do I have the option to choose the MCLR-linked rates?

Borrowers have the option to choose MCLR-linked interest rates.

Can I switch over from the MCLR to the TBLR-linked rates and vice versa?

Existing customers can choose to switch over from the MCLR to TBLR-linked interest rates and vice versa. Citibank does not charge any fee for affecting this transfer. This switchover requires the borrower to execute a supplementary agreement. Customers in the Base Rate regime can also switch over from the Base Rate to MCLR/TBLR-linked interest rates. The vice versa is not permissible in this scenario.

Does the change in the MCLR/TBLR affect my Home Loan EMI?

A change in the MCLR/TBLR affects the effective rate of interest on your Home Loan. Therefore, it entails a difference in the EMI, as well. However, you have the option to maintain the EMI as constant and vary the loan tenure within permissible limits. Under such circumstances, Citibank increases or decreases the loan repayment tenure accordingly. Alternatively, you can keep the mandate constant and vary the EMI.

Which is beneficial, TBLR or MCLR-linked Home Loan interest rate?

The TBLR is a real market rate and not owned by any bank. The Reserve Bank monetary policy and rate changes affect the T-bill rates. An independent benchmark administrator decides the rates, thereby making it a transparent mechanism. Anybody can confirm the FBIL T-bill rate at any time on the FBIL official website. Compared to the MCLR, the TBLR is beneficial, as on date. The MCLR also depends on market conditions.