Kotak Mahindra Bank uses the External Benchmark Lending Rate (EBLR) system to determine floating interest rates for its retail loans, including home loans. This approach ensures greater transparency and quicker transmission of changes in the Reserve Bank of India's (RBI) policy rates to borrowers. As of the latest available information, the EBLR rate Kotak Mahindra bank is set at 8.50% per annum, which is directly linked to the RBI's repo rate.
What are the Key Factors on the EBLR Rate of Kotak Mahindra Bank?
This varies based on factors such as the borrower's credit profile, loan amount, and tenure. For instance, a borrower with a high credit score may receive a loan at a rate slightly above the EBLR, while someone with a lower credit score might be charged a higher rate.
The EBLR system mandates that banks review and reset the interest rates on floating-rate loans at least once every three months. This periodic reset aligns the loan's interest rate with the prevailing market conditions, ensuring that borrowers benefit promptly from any reductions in the repo rate.
It's important to note that while the EBLR system offers greater transparency and responsiveness to market changes, the actual interest rate a borrower receives will depend on individual assessments and the bank's internal policies.
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What is the EBLR Rate Kotak Mahindra Bank?
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2025-10-05T15:48:22+00:00 2025-10-05T15:48:24+00:00Comment
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