Citibank India has decreased its loan against property interest rates by 0.10%, or 10 basis points with effect from Sunday, January 07, 2018. This interest rate cut will reduce the cost for those people who want to avail loan against mortgage of their immovable property.
Citibank India – Current Interest Rates for Loan Against Mortgage of Immovable Property
New Delhi (Delhi, India), February 25, 2018
Citibank India Cuts Loan Against Property Interest Rate to 8.90% Per Annum
The Citibank India has decreased its loan against property interest rates by 0.10 percent, or 10 basis points with effect from Sunday, January 07, 2018.
Citibank India has revised its minimum interest rate for loan against property from 9.00 percent to 8.90 percent per annum (MCLR-3Month + 0.90%) for the self-occupied residential property.
The loan against property interest rate of Citibank India is benchmarked or linked to its Three-Month MCLR (Marginal Cost of Funds based Lending Rate). Citibank India’s current Three-Month MCLR, which is called MCLR-3M, is 8.00 percent per annum with effect from Sunday, January 07, 2018.
Citibank India’s current interest rate cut will reduce the cost of funds for those people who want to avail loan against mortgage of their immovable property.
Citibank India Property Finance – Current Loan Against Property Interest Rates for Various Category of Properties
Citibank India Loan Against Mortgage of Self-Occupied Residential Property Interest Rate: 8.90% Per Annum (MCLR-3Month + 0.90%)
Citibank India Loan Against Mortgage of Non Self-Occupied Residential Property Interest Rate: 9.15% Per Annum (MCLR-3Month + 1.15%)
Citibank India Loan Against Mortgage of Commercial Property Interest Rate: 9.40% Per Annum (MCLR-3Month + 1.40%)
Citibank India Loan Against Property for Purchase of Commercial Property Interest Rate: 9.40% Per Annum (MCLR-3Month + 1.40%)
Citibank India Loan Against Property for Reverse Mortgage Interest Rate: 8.90% Per Annum (MCLR-3Month + 0.90%)
Citibank India Loan Against Property for Lease Rental Discounting Interest Rate: 9.40% Per Annum (MCLR-3Month + 1.40%)
Citibank India Loan Against Property for Overdraft Facility Against Property Interest Rate: 9.40% Per Annum (MCLR-3Month + 1.40%)
Citibank India Loan Against Property Minimum Borrowing Amount: Minimum Loan Against Property Amount is Rs. 50,000
Citibank India Loan Against Property Maximum Borrowing Amount: Maximum Loan Against Property Amount is Rs. 10,00,00,000
Citibank India Loan Against Property Rate of Interest is Floating or Fixed: Floating Rate of Interest
Minimum Age Limit for Getting the Citibank India Loan Against Property Sanctioned: Minimum Age 23 Years at the Time of Loan Commencement
Maximum Age Limit for Getting the Citibank India Loan Against Property Sanctioned: Maximum Age 60 Years for Salaried Applicants and 65 Years for Self-Employed Applicants at the Time of Loan Maturity
Minimum Tenure for the Citibank India Loan Against Property: Minimum Home Loan Tenure is 3 Years (36 Months)
Maximum Tenure for the Citibank India Loan Against Property: Maximum Home Loan Tenure is 7 Years (84 Months)
Citibank India Loan Against Mortgage of Immovable Property Processing Fee and Documentation Charges: 1.00% of the Loan Amount (Minimum Rs. 10,000 plus GST)
Charges for Citibank India Loan Against Property EMI Late Payment: Minimum 2% Per Month of the Citibank India Loan EMI Outstanding Amount (Minimum Rs. 500 plus GST)
Citibank India Loan Against Property Pre Closure Charges or Prepayment Penalty: 2.25% of the Foreclosed Amount plus GST
Citibank India Loan Against Property EMI Cheque, SI, or ECS Bounce Charges: Rs. 500 plus GST
Different Options for Making Citibank India Loan Against Property EMI Payments: The three options for making EMI payments are Standing Instruction (SI), Electronic Clearing Service (ECS), or Post-Dated Cheques (PDCs)
Guarantor Requirement for the Citibank India Loan Against Property: No Guarantor is Required
Citibank India Loan Against Property Margin Amount:
Minimum 20% to 30% for Purchase of Commercial Property
Minimum 40% to 50% for Loan Against Residential or Commercial Property
Citibank India – Deposits and Loans Interest Rates
Current Deposits and Loans Interest Rates of Citibank India