Kotak Mahindra Bank ltd. has reduced its interest on home loans to 7% at par with SBI
Under “Khushi ka Season” as a part of festive offers, the scheme will be available for a month and will address loans starting at 7% and savings up to ₹20L can accrue on a balance transfer cases, wherein a costumer of rival lender switches to the bank. Currently SBI’s effective rate of borrowing for loans under ₹30L is 7% with a 0.05% concession for women. Other offers include 50% waiver on processing fees on vehicle loans, commercial vehicles, agri-business, construction equipment finance and other host of benefits to its customers.
With an early sign of Indian economy steadily moving towards normalcy, with return of consumer confidence and demand, bank wants to explore the already contracted retail and consumer sector by means Payday Loans, Silk Loan and offers on more than 100 online platforms.