Kotak Mahindra Bank has decided to continue its special interest rate on home loans of 6.65 per cent per annum.
The bank said in a statement on Monday that ‘In the interest of consumers and on the back of strong demand trends, Kotak continues to offer possibly the lowest home loan interest rate in the market’. It is further added that the concessional rate is applicable for all loan amounts.
“Both fresh home loan applicants and balance transfer cases are eligible for interest rates beginning at 6.65 per cent per annum. Interest rates are linked to borrowers’ credit score and the Loan to Value ratio,” Kotak Mahindra Bank further said.
The move comes at a time when State Bank of India’s concessional home loan rate came to an end on March 31. The lender has restored the original interest rates starting from 6.95 per cent. Kotak Mahindra Bank had earlier said the special home loan rate was available until March 31.
Input: Business Line
Home loan