New Delhi. Kotak Mahindra Bank has reduced the interest rate on home loans. The new rate of interest of 6.5% per annum for home loans will be applicable from today.
If you are preparing to buy a home, then right now is the best opportunity for you. Because Kotak Mahindra Bank, one of the big private banks, has reduced the interest rates on home loans.
Kotak Mahindra Bank has cut the home loan interest rate by 15 bps (basis point). Now the new rate of interest of home loan will be 6.5 percent per annum, earlier this rate was 6.65 percent. That is, new customers will save in EMI.
Kotak Mahindra Bank said that the new rate of interest for home loan will be applicable from today. That is, customers will start getting the benefit of this deduction from Friday. Anyway, Kotak Mahindra Bank’s home loan is still available at the lowest interest rate.
The country’s largest government bank State Bank of India (SBI) is offering loans at 6.70 percent interest rate under the Monsoon Dhamaka Offer. Whereas HDFC Home Loan is giving at 6.95 percent interest.
However, this is the best opportunity for home buyers. More than 16 banks and many housing finance companies in the country are offering home loans at an interest rate of less than 7 percent per annum. IDFC First Bank is offering Home Loan @ 6.50%. At the same time, the minimum interest rate on home loans in Bank of Baroda and ICICI Bank is 6.75 percent.
