Kotak Mahindra Bank announces new home loan interest rate of 6.55 percent – Check details

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Kotak Mahindra Bank today announced a new home loan interest rate of 6.55% p.a. This will be valid from 9th November to 10th December, 2021 (both days inclusive).

Kotak Mahindra Bank is offering home buyers one of the lowest interest rates in the market. Earlier in September, the bank had kick-started the festive season by introducing home loan interest rates beginning at 6.50% p.a. It was a limited period festive season offer that ends today (8th November 2021).

In a statement, the bank said that applicants who have received a home loan sanction letter from KMBL by 8th 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 15th November, 2021.

Kotak Home Loan Features

• 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

Commenting on the new rate, 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,” he added.

Kotak Mahindra Bank’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, the statement said.