Get Instant Principle Penalty on Kotak Digi Home Loans
Kotak Mahindra Bank (Kotak), which offers home loans at an incredibly low interest rate of 6.75% * per annum, today announced that it has introduced an instant principle penalty for home loans on its digital platform – Kotak Digi Home Loans. Home loan applicants can now check the eligibility of their loan amount and the applicable interest rate immediately online, and also instantly receive a letter of sanction in principle. This makes the home buying journey much easier for future owners.
Instant mortgage sanctioning is available to existing and new Kotak customers, as well as to salaried and self-employed customer segments. Applicants can use the facility to apply for a new home loan, balance transfer, or top-up loan.
In a fully digital and paperless end-to-end process, Kotak Digi Home Loans performs instant digital credit assessment and the applicant sees their home loan eligibility amount, loan term, interest rate and IME. Applicant can choose loan amount and loan term and also add co-applicant to increase eligible loan amount. Applicants will then receive a letter of sanction in principle and then proceed with the online submission of documents.
Ambuj Chandna, President – Consumer Assets, Kotak Mahindra Bank said, “Making banking easier, faster and more affordable – this is our promise to our customers. Using a digital-first approach, homebuyers will now receive an instant home loan sanction with full details of their loan eligibility in a fully paperless, contactless manner.In addition to this, we continue to offer a special mortgage interest rate of 6.75%, which makes it a win-win proposition for our clients. home has now become so much easier. “
Applicants can easily apply online for Kotak Digi home loans on the Kotak website at www.kotak.com. Existing Kotak customers can also apply for Kotak Digi home loans through Kotak net banking or the mobile banking app.
Kotak offers home loans and balance transfer loans starting at 6.75% * pa, which is one of the lowest rates in the home loan market.
Shares of KOTAK MAHINDRA BANK LTD. was last trading on the BSE at Rs. 1858.65 from the previous close of Rs. 1883.95. The total number of shares traded during the day was 162,036 in over 10,014 deals.
The stock hit an intraday high of Rs. 1905 and intraday low of 1846. Net turnover during the day was Rs. 305509653.
* General conditions apply