Kotak Mahindra Bank has announced a further reduction in its home loan interest rates by 10 basis points to 6.65 per cent per annum. This came into effect from March 1.
“This is a special rate that is applicable till March 31, 2021 and is the lowest rate in the home loan market,” the bank said in a statement, adding that the rate is applicable across all loan amounts.
Ambuj Chandna, President, Consumer Assets, Kotak Mahindra Bank said, “Kotak continues to set the pace as the price leader in the home loan market and we are delighted to offer consumers a special year-end bonus in the form of even lower home loan interest rates. This is indeed the best time to buy a home.”
Earlier on Monday, State Bank of India had cut rates by up to 70 basis points with interest rates starting from 6.70 per cent onwards till March 31, 2021.