Kotak Mahindra Bank Cuts Interest Rate on Home Loans by a Further 10 bps to 6.65%

Kotak Mahindra Bank has announced that it has reduced its Home Loan interest rates by a further 10 basis points (bps) to 6.65% per annum with effect from 1 st March, 2021. This is a special rate that is applicable till 31st March, 2021 and is the lowest rate in the home loan market. This special rate of 6.65% per annum is applicable across all loan amounts. Kotak Mahindra Bank home loan and balance transfer loans now start at 6.65% per annum.

Interest rates are linked to borrowers’ credit score and the  Loan to Value (LTV) ratio. Ambuj Chandna, President – Consumer Assets, Kotak Mahindra Bank management said that they will continue to set the pace as the price leader in the home loan market and are delighted to offer consumers a special year-end bonus in the form of even lower home loan interest rates. This is indeed the best time to buy a home.

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Features of Kotak Home Loans:

Starting at 6.65%* p.a. on Home Loans and Balance Transfer Loans
6.65% per annum interest rate is applicable on all loan amounts
Attractive rates for both the salaried and self-employed customer segments
Instant In-Principle Sanction on Kotak Digi Home Loans

To apply for a Kotak Home Loan online, consumers can visit the website at Kotak Home Loans. Consumers can also apply through Kotak’s bank branches across India. Existing Kotak customers can also apply through the Kotak mobile banking app or net banking.

Kotak Home Loans are linked to an external benchmark i.e. RBI’s policy repo rate

About Kotak Mahindra Bank:

Established in 1985, Kotak Mahindra Group is one of India's leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group's flagship company, received banking license from the Reserve Bank of India (RBI), becoming the first non-banking finance company in India to convert into a bank - Kotak Mahindra Bank Ltd.

Kotak Mahindra Bank has four Strategic Business Units – Consumer Banking, Corporate Banking, Commercial Banking and Treasury, which cater to retail and corporate customers across urban and rural India. The premise of Kotak Mahindra Group’s business model is concentrated in India, diversified financial services. The bold vision that underscores the Group’s growth is an inclusive one, with a host of products and services designed to address the needs of the unbanked and insufficiently banked. As on 31 st December, 2020, Kotak Mahindra Bank Ltd has a national footprint of 1,603 branches and 2,573 ATMs, and branches in GIFT City and DIFC (Dubai). For more information, please visit the company’s website at https://www.kotak.com/