Kotak Mahindra Bank will continue to provide home loans at the cheapest.
After increasing interest rates on home loans of State Bank of India (SBI), Kotak Mahindra Bank has announced to continue providing home loans to customers at special interest rates. These rates of Kotak Mahindra are applicable on all loan amount.
Interest rates linked to credit score and loan to value
Kotak Mahindra Bank has said that new loan applications and balance transfer cases will be eligible for an initial interest rate of 6.65 per cent per annum. However, interest rates are linked to borrowers’ credit score and loan to value (LTV) ratio. Both jobseekers and self-employed can take advantage of this. It is one of the cheapest home loan offers in its segment. If you apply for Kotak Digi Home Loans to take home loan, then the processing time will also be very short.
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On this, Ambuj Chandna, President (Consumer Assets) at Kotak Mahindra Bank said that there has been an increase in the sale of homes in recent months due to several reasons, including a major fall in home loan interest rates. He wants to assure home buyers that Kotak is standing with him and that his home loan is available at 6.65 per cent per annum without any change. Chandana is also seeing this as an opportunity to make a good home loan book. Explain that SBI had announced an offer to provide home loan at the rate of minimum 6.7 per cent in March, which has expired on 31 March. Now SBI customers will have to pay interest at the rate of minimum 6.95 per cent.