Citibank MCLR Rates, Citibank Base Rate – Dec 2018

Citibank MCLR Rate

5th Dec 2018 – RBI keeps Repo Rate unchanged at 6.50%

Current MCLR rate of Citibank ranges from 7.70% to 8.55% varying by reset frequency of the loan. Citibank revises MCLR rates on a monthly basis and benchmark its interest rates for home loan and other loans to MCLR rates of different tenor.

Tenure wise MCLR Citibank Rate Today
Overnight 7.70%
1 Month 8.00%
3 Month 8.20%
6 Month 8.40%
1 Year 8.55%
Citibank Base Rate 9.20%

Citibank Interest Rates

Citibank Interest Rates
Home Loan Interest Rates 8.75% * Floating Detail
Loan Against Property Rates 8.80% * Floating Detail
Personal Loan Interest Rates 10.99% to 18.99% Detail
Business Loan Interest Rates 16.00% to 18.99% Detail
Fixed Deposit Interest Rates 3.00% to 7.50% Detail
Saving Account Interest Rates 4.00% to 4.00% Detail
RD Interest Rates 6.00% to 7.50% Detail

MCLR of Citibank

Citibank revises its MCLR rate on a monthly basis. Latest MCLR rates of Citibank as announced on 07 Dec 2018 are:

  • Overnight MCLR Rate is 7.70%. The rate was last revised on 07 Dec 2018 to 7.70% from 7.85%
  • 1 Month MCLR Rate is 8.00%. The rate was last revised on 07 Dec 2018 to 8.00% from 7.95%
  • 3 Month MCLR Rate is 8.20%. The rate was last revised on 07 Dec 2018 to 8.20% from 8.10%
  • 6 Month MCLR Rate is 8.40%. The rate was last revised on 07 Dec 2018 to 8.40% from 8.30%
  • 1 Year MCLR Rate is 8.55%. The rate was last revised on 07 Dec 2018 to 8.55% from 8.45%

Citibank MCLR Rate Trend

Date Citibank MCLR
07th Dec 18
Overnight : 7.70%
1 Month : 8.00%
3 Month : 8.20%
6 Month : 8.40%
1 Year : 8.55%
07th Nov 18
Overnight : 7.85%
1 Month : 7.95%
3 Month : 8.10%
6 Month : 8.30%
1 Year : 8.45%
07th Oct 18
Overnight : 7.85%
1 Month : 7.95%
3 Month : 8.10%
6 Month : 8.30%
1 Year : 8.45%
07th Sep 18
Overnight : 7.85%
1 Month : 7.95%
3 Month : 8.10%
6 Month : 8.30%
1 Year : 8.45%
07th Aug 18
Overnight : 7.75%
1 Month : 7.90%
3 Month : 8.05%
6 Month : 8.30%
1 Year : 8.45%
07th Jul 18
Overnight : 7.80%
1 Month : 7.85%
3 Month : 8.05%
6 Month : 8.25%
1 Year : 8.35%
07th Jun 18
Overnight : 7.70%
1 Month : 7.80%
3 Month : 7.95%
6 Month : 8.15%
1 Year : 8.15%
07th May 18
Overnight : 7.70%
1 Month : 7.80%
3 Month : 7.95%
6 Month : 8.05%
1 Year : 8.10%
07th Apr 18
Overnight : 7.80%
1 Month : 7.95%
3 Month : 8.15%
6 Month : 8.25%
1 Year : 8.25%
07th Mar 18
Overnight : 7.80%
1 Month : 7.95%
3 Month : 8.00%
6 Month : 8.05%
1 Year : 8.00%
08th Feb 18
Overnight : 7.80%
1 Month : 7.95%
3 Month : 8.00%
6 Month : 8.05%
1 Year : 8.00%
07th Jan 18
Overnight : 7.80%
1 Month : 7.95%
3 Month : 8.00%
6 Month : 8.05%
1 Year : 8.00%
07th Dec 17
Overnight : 7.90%
1 Month : 8.05%
3 Month : 8.10%
6 Month : 8.15%
1 Year : 8.10%
07th Nov 17
Overnight : 7.90%
1 Month : 8.10%
3 Month : 8.10%
6 Month : 8.15%
1 Year : 8.10%
07th Oct 17
Overnight : 7.90%
1 Month : 8.05%
3 Month : 8.05%
6 Month : 8.10%
1 Year : 8.05%
07th Sep 17
Overnight : 7.85%
1 Month : 8.10%
3 Month : 8.10%
6 Month : 8.10%
1 Year : 8.05%
08th Aug 17
Overnight : 8.10%
1 Month : 8.10%
3 Month : 8.15%
6 Month : 8.20%
1 Year : 8.15%
07th Jul 17
Overnight : 8.10%
1 Month : 8.10%
3 Month : 8.15%
6 Month : 8.20%
1 Year : 8.15%
07th Jun 17
Overnight : 7.95%
1 Month : 7.95%
3 Month : 8.10%
6 Month : 8.15%
1 Year : 8.20%
07th May 17
Overnight : 7.85%
1 Month : 8.00%
3 Month : 8.05%
6 Month : 8.00%
1 Year : 7.95%
07th Apr 17
Overnight : 7.85%
1 Month : 8.00%
3 Month : 8.05%
6 Month : 8.00%
1 Year : 7.95%
07th Mar 17
Overnight : 7.85%
1 Month : 8.00%
3 Month : 8.05%
6 Month : 8.00%
1 Year : 7.95%
07th Feb 17
Overnight : 7.95%
1 Month : 8.05%
3 Month : 8.05%
6 Month : 8.05%
1 Year : 7.95%
07th Jan 17
Overnight : 8.00%
1 Month : 8.10%
3 Month : 8.10%
6 Month : 8.10%
1 Year : 8.05%
07th Dec 16
Overnight : 8.10%
1 Month : 8.20%
3 Month : 8.20%
6 Month : 8.20%
1 Year : 8.15%
07th Nov 16
Overnight : 8.10%
1 Month : 8.30%
3 Month : 8.30%
6 Month : 8.35%
1 Year : 8.30%
07th Oct 16
Overnight : 8.30%
1 Month : 8.30%
3 Month : 8.35%
6 Month : 8.40%
1 Year : 8.35%
07th Sep 16
Overnight : 8.30%
1 Month : 8.40%
3 Month : 8.45%
6 Month : 8.50%
1 Year : 8.45%
07th Aug 16
Overnight : 8.25%
1 Month : 8.50%
3 Month : 8.55%
6 Month : 8.60%
1 Year : 8.55%
07th Jul 16
Overnight : 8.20%
1 Month : 8.55%
3 Month : 8.60%
6 Month : 8.65%
1 Year : 8.60%
07th Jun 16
Overnight : 8.35%
1 Month : 8.65%
3 Month : 8.80%
6 Month : 8.75%
1 Year : 8.65%
07th May 16
Overnight : 8.45%
1 Month : 8.75%
3 Month : 8.90%
6 Month : 8.85%
1 Year : 8.75%
01st Apr 16
Overnight : 8.65%
1 Month : 8.95%
3 Month : 9.00%
6 Month : 9.00%
1 Year : 8.85%
30th Nov -1
Overnight : 7.70%
1 Month : 7.00%
  • Effective 1st April 2016, Citibank has been directed by RBI to fix its loan interest rates benchmarked to MCLR rate which is based on its marginal cost of funds. Earlier, the bank fixed its loan interest rates to Base Rate, which was based on total cost of funds of the bank. Citibank MCLR rates for different tenors range from 7.70% to 8.55%.
  • RBI allows banks to set their own MCLR Rate based on their marginal cost of funds which means the cost of raising new funds for the bank. So, Citibank decides and announces its MCLR rate regularly based on prescribed formula and policy rate changes by RBI in its monetary policy.
  • Note that the RBI does not decide the MCLR Rate of any bank. RBI only announces the repo rate, which influences the cost of raising new funds for the bank. Banks may or may not decide to change their MCLR rate in response to changes in the repo rate. For instance, Citibank may decide to bring a lower cut in their MCLR rate compared to a Repo Rate cut. If RBI cuts the repo rate by 50 basis points or 0.5%, Citibank may decide to cut its 3 Month MCLR rate only by 0.25% based on its internal funding and liquidity position. Hence, it is important to compare the MCLR rate change of Citibank with that of RBI Repo Rate and MCLR Rate changes of other banks before taking a decision to take a loan from Citibank.
  • MCLR rate can be revised by Citibank every month. However, 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 keeping them unchanged.

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, personal loans are linked to short tenure 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. Citibank home loan rate is benchmarked to 3 Month MCLR Base Rate which will be repriced after 3 Month. Say, you take a loan from Citibank at current 3 Month MCLR rate of 8.20% plus spread of 20 bps. So, the loan will initially be priced at 8.4%. Its next re-pricing will be done after 3 Month from now. If the 3 Month MCLR rate after 3 Month increases by 10 bps, the loan will be priced at 8.5% for the next period.

Compare MCLR Rate Movement



    Compare Citibank MLCR Rates with Other Banks

    About Citibank

    • 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. .
    • Citibank's management is led by its CEO Mr. Pramit Jhaveri.
    • Its current Base Rate is 10.25%, which was last revised on 05th Oct 15.
    Citibank News - Dec 2018
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