Kotak Mahindra Bank cuts home loan interest rate to 6.5% for 60 days, BFSI News, ET BFSI

Kotak Mahindra Bank has cut its interest rate on home loans to 6.50% from 6.65% per annum, starting from Friday till November 8.

The bank is offering these rates in view of the upcoming festive period. These rates will be prevalent for both fresh home loans and balance transfers, and will be available across all loans amounts and is linked to a borrower’s credit profile.

The bank’s home loan rates are linked to an external benchmark, that is the Reserve Bank of India’s policy repo rate of 4%

As families get ready to welcome Ganesha into their homes, we are delighted to make it even easier to buy the home of one’s dream. Home Loans now at 6.50%. Wish everyone a happy festive season.

— Uday Kotak (@udaykotak) September 9, 2021

With Kotak Digi Home Loans, home loan applicants can apply and receive an instant in-principle sanction letter, loan amount eligibility, tenure of the loan, interest rate and EMI in an end-to-end contactless process.
Following are the features of the home loans:
> Starting at 6.50% per annum, on fresh home loans and balance transfer loans
> Attractive rates for both salaried and self-employed customer segments
> Instant in-principle sanction with Kotak Digi Home LoansConsumers can also apply through Kotak’s bank branches across India. The bank’s home loans are available across over 100 cities and towns in India. Existing Kotak customers can also apply through the Kotak mobile banking app or net banking.