There is good news for home loan holders. Kotak Mahindra Bank will continue to loan them at the lowest rate of interest. After SBI raised the interest rate on its home loan from 6.70 per cent to 6.95 per cent, Kotak Mahindra Bank announced on Monday that it would continue to provide loans to home loan holders at a special interest rate of 6.65 per cent per annum. This interest rate is applicable to all loan amount.
Keep in mind credit score
Both 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 the job and self-employed can take advantage of this offer. It is one of the cheapest home loan offers in its segment. Applying through Kotak Digi Home Loans to take a home loan, the processing time will also be very short.
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Speaking on this, Ambu Chandna, President – Consumer Assets at Kotak Mahindra Bank said that the industry has seen a big growth in home sales in recent months due to several reasons, including a large fall in home loan interest rates. . They expect this trend to continue, customers who want to buy their house and live and work in them. He said that he wants to assure home buyers that Kotak is standing with them and that their home loan is available at 6.65 per cent per annum without any change. They also see this as a great opportunity to make a good home loan book.
Explain that SBI had announced an offer to provide home loans at the rate of minimum 6.7 per cent in March. This offer has ended on 31 March. After this, SBI has revised its home loan rate and now home buyers will have to pay interest at the minimum rate of 6.95 per cent.