BWI: Citibank Reduces Mortgage Prime Rate by 50 Basis Points to 13.75%

Press release from Business Wire India
Source: Citibank
Tuesday, March 31, 2009 07:04 PM IST (01:34 PM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Banking & financial services, Business services, Financial Analyst
Release no: 19585
--------------------------------------------------
Citibank Reduces Mortgage Prime Rate by 50 Basis Points to 13.75%


New Delhi, Delhi, India, Tuesday, March 31, 2009 -- (Business Wire India) -- Citibank today announced a reduction in its Mortgage Prime Rate by 50 basis points. Effective immediately, the new Citibank Mortgage Prime Rate will be 13.75 percent. The percentage of revision for loans on variable rates will be 0.50 percent and the advantage of this downward revision in CMPR will be passed to all existing mortgage customers with floating rate loans from April 1st 2009.

This is the second time in the last three months that Citibank has reduced its CMPR. The key rate has now been reduced by a total of 100 bps since January 2009.

Citi

Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through its two operating units, Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com


CONTACT DETAILS
Indu A. Anand, Citi India, +91 (124) 4186766, indu.anand@citi.com
Sudeep Bhalla, Citi India, +91 (22) 40015009, sudeep.bhalla@citi.com
Shreela Roy, IPAN, +91 9820149119, shreela.roy@ipan.com

KEYWORDS
CONSUMER, MARKETING, BANKING, BUSINESS SERVICES, Financial Analyst

If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.

Submit your press release at http://www.businesswireindia.com