Citi reduces home loan rate by 70 basis points

Mumbai, Jan 6 (IANS) Foreign lender Citi India on Friday reduced its home loan rate to 8.80 per cent from 9.50 per cent, effective from January 9.

The final pricing on the loan will be based on the loan amount, product or facility type offered, and internal Citi loan risk assessment parameters, a statement from the bank said here.

“The reduction in the home loan rate is reflective of our commitment to consumers who may be interested in purchasing under-construction or ready-to-move-in property,” said Rohit Ranjan, Head of Secured Lending, Citi India.