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Citi bank has launched T-bill rate linked home loan

In a first, Citi Bank has introduced a home loan product that will be linked to the rate of treasury bills, that is usually used by the government for short-term borrowings. However, Indian Banks Association has opposed this move but Citi Bank officials have said that the new plan will allow them to give loans at a fixed spread above the T-bill rate which will be maintained throughout the loan tenure.