Private Sector bank Kotak Mahindra is now following the footprints of State Bank of India. Like the State Bank, this private bank is now after reducing the housing loan interest to 0.25 percent for a stipulated time. This revised rate will be followed up to January 31.
The bank hopes that, this new change in interest rates of bank loans will help to alter the marketing scenario of the bank. It will help to raise the fund amount. By following the giant finance, lender State Bank of India and mortgage tycoon HDFC bank will help this bank to get the attention of customers. This new impact of changing rate will hold the current margin. This change in loan amount will applicable to home loans under 75 lakhs.