Loan interest

Kotak Mahindra Bank announces new interest rates for home loans. All you need to know

Kotak Mahindra Bank has announced a new interest rate on home loans of 6.55%. This new interest rate will be valid from November 9 to December 10, the lender said in a statement on Monday.

In September, as part of its holiday offers, Kotak Mahindra Bank announced home loan rates starting at 6.50%. This festive offer ends today, November 8th.

Home loan seekers who received a home loan sanction letter from Kotak Mahindra Bank before November 8 can lock in previous rates starting at 6.50% if the loan is disbursed within the next seven days, that is i.e. before November 15.

Starting tomorrow, Kotak Mahindra Bank’s new home loan interest rates starting at 6.55% will come into effect. These rates will apply to both new home loans and balance transfers. These special rates are available for all loan amounts and are tied to the borrower’s credit profile, the bank said.

The bank offers the new interest rates to the employee and self-employed customer segments. Applicants can also get instant principled sanction with Kotak Digi Home Loans.

To apply for a Kotak home loan online, applicants should visit Kotak Home Loans. Consumers can also apply through Kotak’s bank branches across India.

Read also : Kotak Mahindra Bank’s Q2 net profit drops 7%, asset quality improves

Kotak home loans are available in over 180 cities and towns in India. Existing Kotak customers can also apply through the Kotak mobile banking app or online banking, the bank said in its statement.

“More recently, our 60-day holiday special has been deeply appreciated by homebuyers and we have seen very strong demand momentum – both in new cases and transfers of pay. We are therefore delighted to extend the good times for borrowers with a new mortgage lending rate of 6.55%,” said Ambuj Chandna, President – Consumer Assets, Kotak Mahindra Bank.

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