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Kotak Drops Home Loan Interest Rates To 6.50% For Next 60 Days

The reduced interest rate of 6.50% is applicable across all loan amounts; and on both Fresh and Balance Transfer cases

Photo Credit : Bloomberg

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Kotak Mahindra Bank Ltd (KMBL) on Thursday, said that it has reduced its Home Loan interest rates yet again by a further 15 basis points (bps) from 6.65 per cent to 6.50 per cent per annum (p.a). 

This special rate of 6.50 per cent p.a. is a limited period festive season offer beginning 10th September and ending 8th November 2021. 

 With this, KMBL continues to offer one of the most competitive rates in the home loan industry. 

 Rates for both fresh home loans and balance transfers now start at 6.50 per cent p.a., offering the best value to home buyers. This special rate is available across all loans amounts and is linked to a borrower’s credit profile, Kotak Bank said in a press release. 

Ambuj Chandna, President, Consumer Assets, Kotak Mahindra Bank said, “We are delighted to add to the festive cheer for millions of home buyers and help make their dream of owning their ideal home a reality. As the world has changed and we are spending more time at home, our lifestyles have also evolved. People are looking for comfortable residences where the entire family can work, entertain and spend quality time together. Kotak’s incredible 6.50% home loan interest rate now makes owning one’s dream home even more affordable.”

Further, digital has completely transformed the home loan sanction process. With Kotak Digi Home Loans, home loan applicants can now apply for and receive an instant in-principle sanction letter along with their loan amount eligibility, the tenure of the loan, interest rate, and EMI in an end-to-end fully digital, paperless, and contactless process. 

 


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