The new interest rates will be available for customers applying for fresh loans, loan transfer or looking to refinance their existing loans making the offer more inclusive
Kotak Takes the Lead - Holds Home Loan Interest Rates at 6.65% p.a.
Posted On: 2021-04-12 08:42:04 (Time Zone: Arizona, USA)
Kotak Mahindra Bank Ltd (KMBL) today positioned itself as the frontrunner in the home loan market when it announced that home loan borrowers will continue to enjoy its special interest rate of 6.65% p.a. This incredibly low interest rate is applicable across all loan amounts.
Both fresh home loan applicants and balance transfer cases are eligible for interest rates beginning at 6.65% p.a. Interest rates are linked to borrowers credit score and the Loan to Value (LTV) ratio.
Ambuj Chandna, President - Consumer Assets, Kotak Mahindra Bank said, Buoyed by the convergence of a number of factors, not the least of which was a steep drop in home loan interest rates, the industry has witnessed a healthy growth in home sales in recent months. We expect this trend to continue with consumers keen to purchase and live & work in their own homes. We would like
Low home loan interest rates: What to keep in mind before bottom fishing?
The banks flush with liquidity are tapping mortgage buyers as these loans are safe, secured and also offer potential to cross-sell multiple banking products in future
Anand Adhikari | March 15, 2021 | Updated 14:37 IST
Currently, all home loan rates are linked to an external benchmark, which is repo rates in most cases
Banks like State Bank of India, ICICI Bank, Kotak Mahindra Bank and others are offering as low as 6.65 to 6.75 per cent home loan rates. The banks flush with liquidity are tapping mortgage buyers as these loans are safe, secured and also offer potential to cross-sell multiple banking products in future. But a borrower should look at following factors before committing for a 15-20 year loan.
Updated Mar 07, 2021 | 06:34 IST
In the last few days, various banks have reduced their home loan interest rates for borrowers. State Bank of India (SBI), ICICI Bank and Kotak Mahindra Bank have reduced the interest rates on home loans Banks offering home loans at historically low rates: Here are tax incentives you need to know | Photo Credit: BCCL
New Delhi: If you have been planning to take a home loan, now might be the best time for you to do so. In the last few days, various banks have reduced their home loan interest rates for borrowers.
HDFC, for instance, has reduced its Retail Prime Lending Rate (RPLR) on housing loans by 5 basis points, effective from 4 March 2021. Similarly, the State Bank of India (SBI), ICICI Bank and Kotak Mahindra Bank have also reduced the interest rates on home loans.