There is news circulating in the media that RBI(Reserve Bank of India)is going to hike interest rates. If Repo and Reverse Repo Rates are going to hike, then automatically Banks have to increase its lending rates
As a matter of precaution, One of the India’s largest private sector bank, Kotak Mahindra Bank is going to hike home loan interest rates with effect from December 10th
Earlier home loan interest rates were slashed on the eve of festive season, But due to anticipation of RBI interest rate hike, Kotak Bank has increased its home loan lending rate to 6.55%(which was earlier 6.50%)
So, if you are looking to take home loan from kotak mahindra bank, hurry! Home loan lending rates are going to hike from December 10th. Plan your loan borrowings before the said date and avail old interest rates.
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