Home Loan Interest Rates
The home loan interest rates are affected by the following factors:
● Your credit score
● The amount of loan that you are availing of
● The type of home loan that you are availing of - fixed or floating rate
● Your occupation, i.e. whether you are salaried or self-employed
You can reduce your home loan interest rate if you have a good credit score.
You can calculate home loan interest rates using our Home Loan eligibility calculator
A fixed home loan interest rate implies that the interest rate for the loan duration will be fixed. Whereas under the floating home loan interest rate, the interest rate may vary during the loan tenure.
Kotak Mahindra Bank provides low interest home loans to our borrowers. The interest rate at Kotak is one of the lowest home loan interest rate in India.
The floating rate of interest is the interest rate, which changes because of multiple factors.
Fixed home loan rate, as the name implies, is a type of housing loan interest rate which remains constant during the entire home loan tenure.
Pre-EMI is a type of installment that you pay towards the interest component of your home loan.
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.
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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