Kotak Mahindra Bank Ltd (KMBL) kicked off the holiday season today by announcing that it has further reduced its mortgage interest rates by an additional 15 basis points (bps) from 6.65% to 6 , 50% * pa
This special rate of 6.50% * pa is a limited offer for the holiday season starting September 10 and ending November 8, 2021.
Thus, KMBL continues to offer one of the most competitive rates in the mortgage industry.
Ambuj Chandna, President – Consumer Assets, Kotak Mahindra Bank said, “We are delighted to add to the festive joy of millions of home buyers and help make their dreams of owning their ideal home a reality. . As the world has changed and we spend more time at home, our lifestyles have also changed. People look for comfortable homes where the whole family can work, play and spend quality time together. Kotak’s incredible 6.50% mortgage interest rate now makes owning your dream home even more affordable.
Rates on new home loans and balance transfers now start at 6.50% * per annum, providing the best value for homebuyers. This special rate is available for all loan amounts and is linked to the borrower’s credit profile.
In addition, digital technology has completely transformed the process of sanctioning mortgage loans. With Kotak Digi Home Loans, home loan applicants can now apply for and receive an instant principle sanction letter along with their eligibility for loan amount, loan term, interest rate and EMI in a system of Fully digital end-to-end, paperless and contactless process.