Kotak Mahindra Bank has reduced interest rates on home loans to an all-time low of 6.50 per cent per annum for a limited festive season offer, which will begin from September 10 and will continue till November 8, 2021. With this, the private lender has reduced the interest rate by a further 15 basis points (bps) from 6.65 per cent to 6.50 per cent per annum.