The interest rates on home loans have reduced a lot during recent years. Home loan interest rate is an important factor that helps us decide our home loan lender. Kotak Mahindra Bank offers highly competitive interest rates on their home loan products:
|
Loan Type |
Loan amount |
Effective Rate Of Interest |
|
Salaried – Non Balance Transfer |
Any loan amount |
6.65% - 7.10% |
|
Self Employed – Non Balance Transfer |
Any loan amount |
6.75% - 7.20% |
|
Special Balance Transfer Rate – Salaried (valid only till 31st Aug, 2021) |
Any loan amount |
6.60% onwards |
|
Special Balance Transfer Rate - Self Employed |
Any loan amount |
6.65% onwards |
Also Read: Kotak Mahindra Bank Home Loan Eligibility
What type of interest rate is offered by Kotak Mahindra Bank for Home Loans?
Kotak Mahindra Bank offers floating rates of interest on their home loans. A floating rate of interest is an interest rate that fluctuates over time due to a variety of factors. If the lender raises the rate of interest, the rate of interest rises for all customers who have taken out a home loan at a floating rate, and thus the customer's EMI rises.
How can I calculate my EMI based on the interest rate?
You can use the home loan EMI Calculator available on our website to find the approximate EMI amount you have to shell out every month on your Kotak Mahindra home loan.