Kotak Announces New Home Loan Interest Rate of 6.55%
MUMBAI, India, Nov. 08, 2021 (GLOBE NEWSWIRE) -- Kotak Mahindra Bank Ltd. (KMBL) today announced a new home loan interest rate of 6.55% p.a., which is valid from 9 November to 10 December, 2021, (both days inclusive), as it continues to set the pace in offering homebuyers one of the lowest interest rates in the market. Earlier in September, KMBL had kick-started the festive season by introducing home loan interest rates beginning at 6.50% p.a. - a limited period festive season offer that ends today, 8 November, 2021.
Further, applicants who have received a home loan sanction letter from KMBL by 8 November, 2021, can lock in the earlier rate starting at 6.50%* p.a. if the loan is disbursed in the next seven days i.e. by 15 November, 2021.
Ambuj Chandna, President - Consumer Assets, Kotak Mahindra Bank, said, “It was just over a year ago that Kotak took the lead in offering consumers the best home loan interest rates, making home purchases more affordable. Most recently, our special 60-day festive season offer has been deeply appreciated by home buyers, and we have seen very strong demand momentum - both in fresh cases and balance transfers. We are, hence, delighted to extend the good times for borrowers with a new home loan rate of 6.55%. This is a great opportunity for consumers to buy their dream home now.”
KMBL’s home loan interest rates now start at 6.55%* p.a. and is applicable for both fresh home loans and balance transfers. This special rate is available across all loans amounts and is linked to a borrower’s credit profile.
Features of Kotak Home Loans:
- Starting at 6.55%* p.a. on both Fresh Home Loans and Balance Transfer Loans
- Attractive rates for both the salaried and self-employed customer segments
- Instant in-principle sanction with Kotak Digi Home Loans
To apply for a Kotak Home Loan online, please visit Kotak Home Loans. Consumers can also apply through Kotak’s bank branches across India. Kotak Home Loans are available across over 180 cities and towns in India. Existing Kotak customers can also apply through the Kotak mobile banking app or net banking.
Click here for details on Kotak Home Loan Interest Rates. Kotak Home Loans are linked to an external benchmark i.e. RBI’s policy repo rate.
About Kotak Mahindra Bank Limited
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.The 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 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 of 30 September, 2021, Kotak Mahindra Bank Ltd has a national footprint of 1,622 branches and 2,601 ATMs, and branches in GIFT City and DIFC (Dubai).
For more information, please visit the company’s website at https://www.kotak.com/.
For further information, please contact:
Kotak Mahindra Bank
Tel: +91 22 50623373
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