Kuchh Baat Aapke Interest Ki Login

Citibank MCLR Rates, Citibank Base Rate – Jun 2017

Last Updated 13th Jun 2017

Citibank MCLR Rate – Current Rate, Past Trend

Current MCLR of Citibank ranges from 7.95% to 8.20% depending on the reset frequency of the loan. Rates are revised every month.

Citibank MCLR, Base Rate Tenure
7.95% Overnight
7.95% 1 Month
8.10% 3 Month
8.15% 6 Month
8.20% 1 Year
Base rate - 8.70% Past Trend
Citibank Interest Rates
Home Loan Interest Rates 8.60% * Floating Detail
Loan Against Property Rates 9.50% * Floating Detail
Personal Loan Interest Rates 11.49% * Detail
Fixed Deposit Interest Rates 3.00% to 5.75% * Detail

Past Trend MCLR Rate of Citibank

Citibank MCLR Rate History

Revised
Date
Overnight MCLR
1 Month MCLR
3 Month MCLR
6 Month MCLR
1 Year
MCLR
2 Year
MCLR
3 Year
MCLR
5 Year
MCLR
07th Jun 17
7.95%
7.95%
8.10%
8.15%
8.20%
-
-
-
07th May 17
7.85%
8.00%
8.05%
8.00%
7.95%
-
-
-
07th Apr 17
7.85%
8.00%
8.05%
8.00%
7.95%
-
-
-
07th Mar 17
7.85%
8.00%
8.05%
8.00%
7.95%
-
-
-
07th Feb 17
7.95%
8.05%
8.05%
8.05%
7.95%
-
-
-
07th Jan 17
8.00%
8.10%
8.10%
8.10%
8.05%
-
-
-
07th Dec 16
8.10%
8.20%
8.20%
8.20%
8.15%
-
-
-
07th Nov 16
8.10%
8.30%
8.30%
8.35%
8.30%
-
-
-
07th Oct 16
8.30%
8.30%
8.35%
8.40%
8.35%
-
-
-
07th Sep 16
8.30%
8.40%
8.45%
8.50%
8.45%
-
-
-
07th Aug 16
8.25%
8.50%
8.55%
8.60%
8.55%
-
-
-
07th Jul 16
8.20%
8.55%
8.60%
8.65%
8.60%
-
-
-
07th Jun 16
8.35%
8.65%
8.80%
8.75%
8.65%
-
-
-
07th May 16
8.45%
8.75%
8.90%
8.85%
8.75%
-
-
-
01st Apr 16
8.65%
8.95%
9.00%
9.00%
8.85%
-
-
-

Citibank MCLR Base Rate Vs. RBI

  • RBI requires banks to set their own MCLR Rate based on their marginal cost of funds. So, Citibank decides its own MCLR Rate from time to time based on prescribed guidelines and formula of RBI
  • Note that the RBI does not decide the MCLR Rate of any bank
  • Effective 1st April 2016, the minimum base rate is determined based on marginal cost of funds and not on overall cost of funds. Citibank has different MCLR base rates ranging from 7.95% to 8.20% for different tenures

Changes in MCLR of Citibank

  • MCLR rate can be revised by Citibank every month
  • Note that it is not mandatory for Citibank to revise its rate every month and it may choose to retain the same rate for a longer period

Citibank home loan interest rate and MCLR

  • Every floating rate loan sanctioned by Citibank is benchmarked to its MCLR Rate for a particular tenure, say 1 month or 3 month or 6 months
  • Shorter duration loans (such as cash credit, OD facility, overnight loans) are linked to shorter duration MCLR rate while longer duration loans (such as home loan, loan against property, vehicle loan) are linked to longer duration MCLR rates
  • The applicable rate of interest on a floating rate loan will consist of two parts - the applicable benchmark rate and the spread or margin above the benchmark
  • Your loan from Citibank will be repriced periodically depending upon the tenure of the MCLR to which it is linked. So, a home loan linked to 1 year MCLR rate of Citibank will be repriced every year. Say, you take a loan at 1 year MCLR plus 50 bps spread when the 1 year MCLR is 8.85%. This loan will initially be priced at 9.35%. Its next re-pricing will be one year from now. If the 1 year MCLR rate after one year is 8.6%, the loan will be priced at 9.1% for the next year

Past trend of Citibank Base Rate vs RBI Repo Rate

Date RBI Rates Bank Rates
07th Mar 17 8.70%
08th Feb 17 0%
07th Dec 16 0%
04th Oct 16 0.25%
20th Sep 16 9.10% 0.05%
07th Jun 16 9.15% 0.1%
05th Apr 16 0.25%
12th Oct 15 9.25% 0.1%
29th Sep 15 0.5%
01st Jul 15 9.35% 0.15%
02nd Jun 15 0.25%
04th Mar 15 0.25%
15th Jan 15 0.25%
17th Nov 14 9.50% 0.25%
28th Jan 14 0.25%
06th Jan 14 9.75% 0.25%
18th Dec 13 0%
29th Oct 13 0.25%
20th Sep 13 0.25%
03rd May 13 0.25%
19th Mar 13 0.25%
29th Jan 13 0.25%
10th Jan 13 9.50% 0.25%
17th Apr 12 0.5%
25th Oct 11 0.25%
16th Sep 11 0.25%
05th Aug 11 9.75% 0.25%
26th Jul 11 0.5%
27th Jun 11 9.50% 0.5%
16th Jun 11 0.25%
09th May 11 9.00% 0.5%
03rd May 11 0.5%
17th Mar 11 0.25%
25th Feb 11 8.50% 0.5%
25th Jan 11 0.25%
22nd Dec 10 8.00% 0.25%
02nd Nov 10 0.25%
01st Oct 10 7.75% 0.5%
16th Sep 10 0.25%
27th Jul 10 0.25%
02nd Jul 10 0.25%
01st Jul 10 7.25%

Citibank Base Rate Vs. RBI Repo Rate Trend

About Citibank

  • Citibank is a Foreign Bank in India with 53 branches, 577 ATM's and 5,758 employees across the country.
  • Citibank's registered office is located at First International Financial Centre, Plot Nos C-54 and C-55, G-Block, Bandra Kurla Complex, Bandra East, Mumbai 400051. .
  • For the year ended 31st Mar 15, the bank reported Net Interest Income of Rs. 5,844 crs. and Standalone net profit of Rs. 3,423 crs. Citibank reported total deposits of Rs. 88,912 crs and total advances of Rs. 60,896 crs.
  • Citibank's management is led by its CEO Mr. Pramit Jhaveri.
  • Its current Base Rate is 8.70%, which was last revised on 07th Mar 17.
Citibank Base Rate, PLR
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. MyLoanCare is an independent professional service provider and is not related to the government or government bodies or any regulator or any credit information bureau in any way. Information carried at this website is not and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not undertake any liability with respect to the correctness of the content, information and calculations. Information is subject to change without notice. By submitting your query or using any tools or calculators, you authorize MyLoanCare to share your information with lender(s), consent for such lender(s) to access your credit information report and contact you regarding your query overriding your number being in National Do Not Call Registry. This is a free service and no charges are payable by the borrower to MyLoanCare. The Company may receive remuneration from lenders for services provided to them.