Major factors affect the home loan interest rates.
You can reduce your home loan interest rate through the following approaches:
As a borrower, you should avail of the fixed interest rate home loan if the interest rate is low and your loan tenure is longer.
Home Loan EMI calculator assists borrowers in determining the monthly amount they have to pay to settle their Home Loan. You input required loan amount, the rate of interest, and the loan tenure in the home loan EMI calculator. The calculator will then show you the total interest payout and the EMI estimate.
Home loan interest rates are linked to external benchmark - Central bank’s Repo rate being one such benchmark. Banks add spread to the external benchmark to derive home loan interest rate.
Disclaimer (Things you should know):
For loans: Credit at the sole discretion of the Bank and subject to guidelines issued by RBI from time to time. Bank may engage the services of marketing agents for the purpose of sourcing loan assets.
* Rs. 5,000 Flat processing fee applicable for women applicants.
You can pay off any existing balance of Home Loan using Kotak’s Home Loan Balance Transfer at a lower rate of interest.
If you are an NRI and are looking for a Home Loan, Kotak provides you just that. Check out our NRI Home Loans section.
If you are looking for renovating your home, you can do so by taking Kotak’s Home Improvement Loans
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