Citi Stuns Markets by Slashing Loan Rate – See What’s Next for Borrowers & Stocks
Citi’s latest rate cut will directly reduce borrowing costs for its customers. For example, a $100,000 loan at the old 7.25% rate incurred about $7,250 in annual interest, versus $7,000 at the new 7.00% rate – a saving of roughly $250 per year news.ssbcrack.com. Banks typically adjust base or benchmark rates in line with changes in prime rates or funding costs. After the Fed cut rates, Citi’s move aligns its base rate with a U.S. prime of 7.00%. In India, with inflation low and growth forecasts solid (RBI now projects FY26 GDP ~6.8% pib.gov.in), lenders are looking to spur demand