Kotak Mahindra Bank- The special interest rate on home loans of Kotak Mahindra Bank starts from 6.65%. This is the cheapest home loan rate ever.
Kotak Mahindra Bank has given good news to customers. The customers of the bank will continue to get home loans at the cheapest rate. The bank has announced to continue the special interest rate on home loans. However, earlier this offer was only till 31 March 2021. But now this will continue. The special interest rate on Kotak Mahindra Bank’s home loan starts at 6.65 percent. This is the cheapest home loan rate ever.
On Monday, the company announced that the bank has decided to issue a minimum interest rate of 6.65 per cent amid increasing demand for home loans. This interest rate will be applicable on all loan amounts. If a customer also takes a new home loan or gets a loan transfer from another bank, then he will also get the benefit of this offer.
The interest rate depends on the credit score and loan to value ratio of the customer. The country’s largest public sector bank SBI had also announced a waiver on home loans, the limit of which ended on 31 March itself. From April 1, SBI’s minimum home loan interest has been reduced to 6.95 per cent.
Expect growth in loan business
Ambuj Chandan, President, Consumer Assets, Kotak Mahindra Bank, said that the home loan business has gained a lot in the last few months. There has been a large contribution of low interest rate in this. In such a situation, we hope that if the interest rate is maintained then the business will accelerate.
Who has the cheapest home loan?
According to the data available on the website of Paisabazaar, at this time, Kotak Mahindra Bank is providing home loan at the rate of 6.65 percent which is the cheapest. In this, the EMI per lakh loan will be 641 rupees. After that HDFC is providing home loans at 6.70 per cent (EMI Rs 646), ICICI Bank 6.70 per cent (EMI Rs 646) and Bank of Baroda at 6.75 per cent (EMI Rs 648).