Kotak Mahindra Bank : Drops Home Loan Interest Rates to 6.50% for the next Sixty Days

Media Release

Kotak Drops Home Loan Interest Rates to 6.50% for the next Sixty Days

The reduced interest rate of 6.50% is applicable across all loan amounts;

and on both Fresh and Balance Transfer cases

A two-month festive season offer from 10th September to 8th November, 2021

Mumbai, 9th September, 2021: Kotak Mahindra Bank Ltd (KMBL) today kick-started the festive season by announcing that it has reduced its Home Loan interest rates yet again by a further 15 basis points (bps) from 6.65% to 6.50%* p.a. This special rate of 6.50%* p.a. is a limited period festive season offer beginning 10th September and ending 8th November 2021. With this, KMBL continues to offer one of the most competitive rates in the home loan industry.

Rates for both fresh home loans and balance transfers now start at 6.50%* p.a., offering the best value to home buyers. This special rate is available across all loans amounts and is linked to a borrower's credit profile.

Ambuj Chandna, President - Consumer Assets, Kotak Mahindra Bank said, "We are delighted to add to the festive cheer for millions of home buyers and help make their dream of owning their ideal home a reality. As the world has changed and we are spending more time at home, our lifestyles have also evolved. People are looking for comfortable residences where the entire family can work, entertain and spend quality time together. Kotak's incredible 6.50% home loan interest rate now makes owning one's dream home even more affordable."

Further, digital has completely transformed the home loan sanction process. With Kotak Digi Home Loans, home loan applicants can now apply for and receive an instant in-principle sanction letter along with their loan amount eligibility, the tenure of the loan, interest rate and EMI in an end-to- end fully digital, paperless and contactless process.

Features of Kotak Home Loans:

• Starting at 6.50%* p.a. on both Fresh Home Loans and Balance Transfer Loans
• Attractive rates for both the salaried and self-employed customer segments
• Instant in-principle sanction with Kotak Digi Home Loans

To apply for a Kotak Home Loan online, please visit Kotak Home Loans. Consumers can also apply through Kotak's bank branches across India. Kotak Home Loans are available across over 100 cities and towns in India. Existing Kotak customers can also apply through the Kotak mobile banking app or net banking.

For details on Kotak home loan rates, click here. Kotak Home Loans are linked to an external benchmark i.e. RBI's policy repo rate.

*Terms & Conditions apply

About Kotak Mahindra Bank Limited

Established in 1985, Kotak Mahindra Group is one of India's leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group's flagship company, received banking license from the Reserve Bank of India (RBI), becoming the first non-banking finance company in India to convert into a bank - Kotak Mahindra Bank Ltd.

The Bank has four Strategic Business Units - Consumer Banking, Corporate Banking, Commercial Banking and Treasury, which cater to retail and corporate customers across urban and rural India. The premise of Kotak Mahindra Group's business model is concentrated India, diversified financial services. The bold vision that underscores the Group's growth is an inclusive one, with a host of products and services designed to address the needs of the unbanked and insufficiently banked. As on 30th June, 2021, Kotak Mahindra Bank Ltd has a national footprint of 1,612 branches and 2,591 ATMs, and branches in GIFT City and DIFC (Dubai).

For more information, please visit the company's website at https://www.kotak.com/.

For further information, please contact:

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