Kotak Mahindra Bank cuts home loan interest rate to 6.5%

 The interest rate on house loans at Kotak Mahindra Bank has been reduced by 0.15 percent to 6.5 percent. In a release issued on Thursday, Kotak Mahindra announced a 15-basis-point (bps) cut in home loan interest rates from 6.65 percent to 6.50 percent per annum, kicking off the Christmas season.

According to the bank, this exceptional rate of 6.50 percent is only available for a limited time during the holiday season, commencing on Friday and ending on November 8, 2021. As a result, Kotak Mahindra Bank continues to offer one of the most inexpensive home loan rates in the business, according to the company. The offer is for both new house loans and balance transfers, according to Kotak, and is available for all loan amounts and is tied to a borrower's credit profile. Kotak Digi Home Loans offers a quick in-principle sanction process for the loan, which is suitable for both salaried and self-employed customers.

According to Ambuj Chandna, president of consumer assets, this is the lowest interest rate in over a decade and one of the most competitive among competitors. "Our lifestyles have altered as the world has changed and we spend more time at home. People want pleasant homes where they can work, party, and spend valuable time with their families. According to news agency PTI, Chandna said, "Kotak's remarkable 6.50 percent house loan interest rate now makes purchasing one's dream home even more accessible."

According to Chandna, the increased demand for home loans is due to the pandemic's increased interest in home ownership, which has driven both work and education to migrate to residences, as well as a lower trend in property prices. The aggressively priced house loans, according to Chandna, would be available for both new home loans and balance transfers.

In the past, Kotak Mahindra's competitors, HDFC and State Bank of India (SBI), have reacted to rate decreases by lowering their own rates. Last October, Kotak's lowest rate offering was 6.9%, and it has been reduced twice since then to the current rate of 6.65 percent.

Conclusion

There's no need to be discouraged if your personal loan application is turned down. To boost your chances of loan approval, simply work on improving your credit report and following the methods outlined above. Once you've completed this checklist, you're ready to submit your personal loan application.To find about the best pricing and deals, call our toll-free number +91-9477079053. They'll help you in every way they can. Please contact me at Best Home Loan In India if you have any more.

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