The move comes hours after home loan segment leader
cut its offering to 6.70 per cent. Home loan rates were already at a 15-year-low, as banks compete in a market with low credit demand.
Interest rates are linked to borrowers’ credit score and the Loan to Value (LTV) ratio, Kotak Mahindra Bank said.
“We are delighted to offer consumers a special year-end bonus in the form of even lower home loan interest rates,” it’s president for consumer assets Ambuj Chandna said.
The 6.65 per cent rate is applicable to both home loans and Balance Transfer Loans across amounts, it said.