In September, as part of its festive season offerings, Kotak Mahindra Bank had announced home loan rates starting at 6.50 per cent. This festive offer ends today, November 8.

Home loan applicants who have received a home loan sanction letter from Kotak Mahindra Bank by November 8 can lock in the earlier rates starting at 6.50 per cent if the loan is disbursed in the next seven days, i.e. by November 15.

From tomorrow, Kotak Mahindra Bank’s new home loan interest rates starting at 6.55 per cent will come into effect. These rates will be applicable for both fresh home loans and balance transfers. These special rate are available across all loans amounts and is linked to a borrower’s credit profile, the bank said.

The bank is offering the new interest rates to both salaried and self-employed customer segments. Applicants can also avail of instant in-principle sanction with Kotak Digi Home Loans.

To apply for a Kotak Home Loan online, applicants need to visit Kotak Home Loans. Consumers can also apply through Kotak’s bank branches across India.

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Kotak Home Loans are available across over 180 cities and towns in India. Existing Kotak customers can also apply through the Kotak mobile banking app or net banking, the bank said in its statement.

“Most recently, our special 60-day festive season offer has been deeply appreciated by home buyers and we have seen very strong demand momentum – both in fresh cases and balance transfers. We are, hence, delighted to extend the good times for borrowers with a new home loan rate of 6.55 per cent,” said Ambuj Chandna, President – Consumer Assets, Kotak Mahindra Bank.