Bank Loan Offers in Festival Season: Indians shop extensively during festivals. To cash in on this shopping habit, banks have come out with many offers. Let’s take a look at those offers.
Festive Season Bank Offers: In order to attract more and more customers in the festive season, banks have come up with offers. From home loan to car loan, government banks have given many offers to the customers. Punjab National Bank (PNB), Bank of Baroda (BOB) and State Bank of India (SBI) have also announced attractive offers on many products including home loans.
PNB’s Diwali Dhamaka 2023
Punjab National Bank (PNB) has started a new offer named ‘Diwali Dhamaka 2023’ to take advantage of the festival. Under this offer, PNB is giving 8.4 percent interest annually on home loan. Apart from this, the bank has announced to charge 8.75 percent interest on car loan. Besides, processing fees and documentation charges on home loan and car loan have also been waived. The facility to apply for home loan from the bank’s website has also been provided. Also, for car loan, customers can get information by visiting the car loan section on PNB ONE app or PNB website.
Car and home loan offers from State Bank of India (SBI)
SBI has also started a special scheme on home and car loans. This offer started from 1st September and will end on 31st December 2023. Under this, SBI customers can take advantage of Credit Bureau Score (CIBIL Score). The higher your CIBIL score, the more benefit you will get in term loan interest rates. The bank is giving a discount of up to 0.65 percent in interest rates. If the CIBIL score of an SBI customer is between 700 to 749, then he will get term loan at 8.7 percent interest rate. If the CIBIL score of the customer is 800 or more then he will get the loan at the rate of only 8.6 percent. Before the offer the interest rate was 9.35 percent. Apart from this, the bank has also started schemes on special category loans.
Bank of Baroda’s Feeling Off Festival Offer
Bank of Baroda has also started Feeling of Festival offer. This offer will run till 31 December 2023. BOB has reduced the interest rates on home loans to 8.4 percent and has also announced to waive the processing fee. BOB customers looking for a car loan will have to pay only 8.7 percent per annum. Also, the bank will not charge processing fees on car and education loans.
