Kotak Mahindra Bank Ltd (Kotak) today announced that it has reduced its home loan interest rates by a further 15 basis points(bps) to 6.75%* p.a. with effect from November 1, 2020. Kotak home loan and balance transfer loans now start at 6.75%* p.a., which is one of the lowest rates in the home loan market.
Shanti Ekambaram, Group President – Consumer Banking, Kotak Mahindra Bank said, “This is an excellent opportunity for both new customers who are looking to buy a home as well as existing home loan borrowers who can transfer their outstanding home loan account balance to Kotak and use this opportunity to reduce their existing EMIs.”
“There is a rising demand for larger homes as families work and study from home. With steady economic recovery, this is the right time to buy the home that one has been dreaming of,” added Shanti.