Kotak Mahindra Bank on Monday announced a 0.10 percentage point cut in mortgage rates for a limited period, saying its offer was the lowest in the market.
Customers will be able to take advantage of 6.65% home loans until March 31 as part of a special offer after the rate cut, the bank said in a statement.
Ambuj Chandna, President – Consumer Assets, Kotak Mahindra Bank said, “Kotak continues to set the tone as a price leader in the home loan market and we are delighted to offer consumers a special end-of-term bonus. year in the form of an even lower home loan. interest rate. This is indeed the best time to buy a house. “
Features of Kotak home loans:
- From 6.65% * pa on home loans and loans with balance transfer
- The interest rate of 6.65% * per year is applicable on all loan amounts
- Attractive prices for employee and self-employed customer segments
- Instant Principle Penalty on Kotak Digi Home Loans
The move comes hours after the leader in the home loan segment, SBI, reduced its offer to 6.70%. Mortgage rates were already at their lowest level in 15 years as banks competed in a market with weak demand for credit.
Interest rates are tied to borrowers’ credit rating and loan-to-value ratio (LTV), Kotak Mahindra Bank said.
The 6.65% rate applies to both home loans and balance transfer loans for all amounts, he said.
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