Kotak announces new home loan interest rate of 6.55%
MUMBAI, India, November 08, 2021 (GLOBE NEWSWIRE) – Kotak Mahindra Bank Ltd. (KMBL) today announced a new mortgage interest rate of 6.55% pa, valid from November 9 to December 10, 2021 (both days inclusive), as it continues to set the tone by offering home buyers one of the lowest interest rates on the market. Earlier in September, the KMBL kicked off the holiday season by introducing interest rates on home loans starting at 6.50% pa – a limited offer for the holiday season which ends today, the 8th. November 2021.
In addition, applicants who received a mortgage sanction letter from the KMBL before November 8, 2021, can lock in the previous rate from 6.50% * pa if the loan is disbursed within the next seven days, i.e. ‘that is to say before November 15, 2021.
Ambuj Chandna, President – Consumer Assets, Kotak Mahindra Bank, said, âJust over a year ago, Kotak took the lead in offering consumers the best interest rates for home loans, making them more affordable housing purchases. More recently, our special 60- The holiday season offer was very popular with homebuyers, and we have seen very strong demand dynamics – both in new and new cases. balance transfers. We are therefore delighted to extend the good times of borrowers with a new mortgage rate of 6.55%. This is a great opportunity for consumers to buy their dream home now. “
KMBL home loan interest rates now start at 6.55% * pa and apply to both new home loans and balance transfers. This special rate is available for all loan amounts and is linked to the borrower’s credit profile.
Features of Kotak home loans:
- From 6.55% * pa on Fee Home Loans and Balance Transfer Loans
- Attractive rates for both employee and self-employed customer segments
- Instant Principle Penalty with Kotak Digi Home Loans
To apply for a Kotak home loan online, please visit Kotak Home Loans. Consumers can also apply through Kotak bank branches across India. 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.
Click here for more details on Kotak Home Loan Interest Rates. Kotak home loans are linked to an external benchmark, which is the RBI policy repo rate.
About Kotak Mahindra Bank Limited
Founded in 1985, Kotak Mahindra Group is one of India’s leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the flagship company of the Group, received a banking license from the Reserve Bank of India (RBI), becoming the first non-bank finance company in India to transform into a bank -Kotak Mahindra Bank Ltd. The Bank has four strategic business units – Consumer Banking, Corporate Banking, Commercial Banking and Treasury, which cater to retail and corporate clients in urban and rural areas of India. The premise of the business model of the Kotak Mahindra group is concentrated in India, diversified financial services. The bold vision underlying the Group’s growth is inclusive, with a multitude of products and services designed to meet the needs of unbanked and insufficiently banked people. As of September 30, 2021, Kotak Mahindra Bank Ltd had a national presence of 1,622 branches and 2,601 ATMs, as well as branches in GIFT City and DIFC (Dubai).
For more information, please visit the company’s website at https://www.kotak.com/.
For more information, please contact:
Kotak Mahindra Bank
Phone. : +91 22 50623373
Image 1: Kotak Mahindra Bank
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