NEWS & ADVICE : HOME LOANS
Citibank cuts base rate to 9.5%
By Joseph Samson
Feb 5, 2013
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The global banking giant, Citibank, has reduced its base rate to 9.5 percent by slashing 25 basis points (bps). The revised rate will be brought into effect on January 10, 2013.

Base rate is the lowest interest rate below which banks are not allowed to provide loans to borrowers. It should be noted that Citibank had slashed its base rate before Reserve Bank of India announced its reduction in policy rates by 25 bps, in its monetary policy review of the third quarter.


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