Kotak Mahindra Bank cuts mortgage interest rate 15 basis points to 6.5%, Real Estate News, ET RealEstate


NEW DELHI: Kotak Mahindra Bank Ltd (KMBL) announced Thursday that it has reduced the interest rate on home loans from 0.15% to 6.50%. The bank kicked off the holiday season by announcing a further reduction in the mortgage interest rate by an additional 15 basis points (bps), from 6.65% to 6.50% per annum, she said. stated in a press release.

This special 6.50% rate is a limited offer for the holiday season starting September 10 and ending November 8, 2021, the private sector lender said.

With this, KMBL continues to offer one of the most competitive rates in the mortgage industry, he added.

Kotak said the offer is for both new home loans and balance transfers, which are available for all loan amounts and are tied to the borrower’s credit profile.

Ambuj Chandna, President – Consumer Assets, Kotak Mahindra Bank, said, “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. ”

The loan, applicable to both employee and self-employed customer segments, comes with an instant in-principle sanction process with Kotak Digi Home Loans.


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