As soon as the festive season is over, Kotak Mahindra Bank of the private sector has made home loans expensive. Kotak Mahindra Bank today announced a new home loan interest rate of 6.55% per annum. Earlier this rate was 6.50%. In this way it has been increased by 0.5 percent. The new rates will be applicable from November 9 to December 10, 2021.
Earlier in September, the bank had decided to reduce the home loan interest rates for its customers during the festive season. The bank had reduced the home loan rate for its customers to 6.50% per annum. The bank had introduced this offer for a limited period in the festive season. These rates were effective till today i.e. 8 November 2021.
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bank statement
The bank said in a statement that applicants whose home loans have been approved by November 8, 2021 and will be disbursed in the next seven days (by November 15, 2021), have to repay their loan at the old rate. This home loan rate is applicable for fresh home loan as well as balance transfer. Commenting on the change in interest rates, Ambuj Chandana, President, Consumer Assets, Kotak Mahindra Bank said, “A year back, Kotak Mahindra Bank started offering the best home loan interest rates to consumers, making home purchase very affordable. . Our 60 days festive offer has been liked and bought by home buyers a lot.” He further added, “We have announced a new home loan rate of 6.55% for our customers. This is a great opportunity for the consumers to buy their dream home.”
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