Kotak Mahindra Bank Slashes Home Loan Rates; Industry Dynamics Favour The Move: ICICI Securities
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ICICI Securities Report
Kotak Mahindra Bank Ltd. launches best-in-class home loan rate of 6.5% as a limited-period festive offer.
This special rate is available for both fresh home loans as well as balance transfers irrespective of the ticket size, but is linked to the borrower’s credit profile.
In line with its asset acquisition and cross-sell strategy, Kotak Mahindra Bank has already been aggressive in mortgage lending for past few quarters (18% YoY growth versus 7% overall loan growth).
Further rate cut warms up the credit engine that has lagged peers.
Lower deposit cost, capital buffer, and digital capabilities facilitate competitive pricing, but may moderate net interest margins a tad.
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