As many banks are now introducing new rates to attract the customer in such a time where many families are facing a financial crisis. It is all because of a virus, but it has also realised many tenants that owning a proper house is going to be a need more than a desire. It is also said that Kotak Home loans are also linked to the external benchmarks that are the RBI’s policy repo rate. To fulfil this need like many other banks Kotak Mahindra bank is also going to cut the home loan interest rate.
On Thursday Kotak Mahindra Bank announced the reduction of the home loan interest rate by 10 basis points. Its new home loan interest rate will be 6.9 per cent, this new interest rates will come into effect from 21 October 2020.
The bank said that the consumers will be able to avail Kotak’s Festive Season Bonanza of 2020. In this, the Kotak Mahindra bank will be providing a 6.9 percent interest rate on home loans as well as balance transfer loans.
The interest rate on home loans and balance transfer loans will be 6.9 per cent. It will help people to save 20 lakhs on the balance transfer cases.
Kotak Mahindra Bank on 16 October 2020 announced its ‘Khushi Ka Season’. It started with Kotak offering attractive interest rates, easy loan approval, exclusive interest rates on the retail and Agri related loans. It will also waive off the processing fee on many loans.
In Kotak’s ‘Khushi Ka Season’ it will be also providing special offers on Savings account, No-cost EMI’s, Debit cards, Credit cards. As Kotak Mahindra Bank has tie-ups with many e-commerce businesses like Amazon, Flipkart, so it will be providing special offers and discounts for all the credit card and debit cardholders of Kotak Mahindra Banks. It will be also providing various offers on more than 100 brands and categories.