Kotak Mahindra Bank Ltd (Kotak) today cut its home loan interest rates by another 15 basis points (PPS) to 6.75 per cent.
The new loan rates will come into effect from November 1, 2020.
“The new nature has changed the functioning of the entire ecosystem. With interest rates lower than 15 years, developers have significantly reduced residential property prices and have ready-made inventory of ready-made homes and lower stamp duty. When all of these factors are taken together, it becomes more attractive to buy a home at this time.” A company report said.
Features of Kodak Home Loans:
Starting at 6.75 per cent on home loans and balance sheet loans
Attractive rates for salary and self-employed customer segments
Quick online approval within 48 hours with Kotak Digi home loans and easy documentation
“With consumer interest in mind, to make home purchases more affordable, Kotak’s home loan interest rates are now available starting at 6.75%. This is a great opportunity for both – new customers who want to buy a home and existing home lenders to shift their outstanding home loan account balances to the existing one. We can take advantage of this opportunity to reduce EMIs, ”said Shanthi Ekambaram, Group Chairman, Consumer Bank, Kotak Mahindra Bank.
“In the current context, people are realizing the importance of having their own home. In addition, the demand for larger homes is increasing as families work and study from home. With stable economic recovery, attractive interest rates and property deals, this is the right time to buy the home one has dreamed of,” Shanti said. Said.
To apply for the Kotak Home Loan online, consumers can visit the Kotak Home Loan website. Consumers can also apply through Kotak Bank branches across India. Existing Kodak customers can also apply through the Kodak Mobile Banking app or Net Bank, the company said.