The loan will be subject to a variable interest rate linked to the Citibank mortgage prime lending rate, which is 13.5 per cent as of now.

The term loan component will have a standard loan tenure of up to 20 years, while the credit line is subject to a maximum tenure of 10 years, beyond which customers can either make a one-time repayment or convert the credit line into a term loan and pay back through EMIs.

"Purchasing a home is a major life event and a mortgage is one of the largest financial commitments an individual makes. CitiHome One is designed to place customers' firmly in command of their finances and make home-buying a win-win for them," said N Rajashekaran, country business manager, global consumer group, Citi India.

This, he said, will also provide complete banking solutions to Citi's our customers.