Kotak Mahindra Bank announced a new mortgage interest rate of 6.55%. The new interest rate will be valid from Nov. 9 to Dec. 10, the lender said in a statement on Monday.
In September, as part of its holiday offerings, Kotak Mahindra Bank announced mortgage rates starting at 6.50%. This festive offer ends today, November 8.
Home loan applicants who received a mortgage sanction letter from Kotak Mahindra Bank before November 8 can lock in past rates starting at 6.50% if the loan is disbursed within the next seven days, that is that is to say before November 15th.
From tomorrow, the new Kotak Mahindra Bank mortgage interest rates from 6.55% will come into effect. These rates will be applicable for both fresh home loans and balance transfers. These special rates are available for all loan amounts and are tied to the borrower’s credit profile, the bank said.
The bank is offering the new interest rates to both salaried and self-employed clients. Applicants can also benefit from instant policy sanction with Kotak Digi Home Loans.
To apply for a Kotak home loan online, applicants should visit Kotak Home Loans. Consumers can also apply through Kotak bank branches across India.
Read also: Kotak Mahindra Bank Second Quarter Net Profit Down 7%, Asset Quality Improves
Kotak home loans are available in over 180 cities and towns in India. Existing Kotak customers can also apply through the Kotak mobile banking app or online banking, the bank said in its statement.
“More recently our special 60 day holiday season was very popular with homebuyers and we have seen very strong demand momentum, both in new cases and in transfers. of balance. We are therefore delighted to extend the good times for borrowers with a new mortgage rate of 6.55%, ”said Ambuj Chandna, President – Consumer Assets, Kotak Mahindra Bank.
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