The Diwali season represents an optimal period for banks to introduce exclusive festive promotions on loans, fixed deposits (FDs), and various other financial products. Individuals seeking to make significant purchases, initiate new investments or refinance current loans will find this festive period to be an advantageous time to investigate the available offerings.
Let’s take a look at how you can make the most of these festive deals!
Attractive Rates and Easy Approvals
This Diwali season, many banks are offering special loan packages on home loans, personal loans, and car loans. These loans come with attractive interest rates, often lower than the regular rates, making it an ideal time for those planning to buy a house or car. Additionally, many banks also waive processing fees, which can lead to significant savings. Some banks even offer instant loan approvals with minimal documentation, making it easy and convenient to secure funds quickly.
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Fixed Deposit Special Rates
Numerous banks provide elevated interest rates on fixed deposits to entice customers. These preferential fixed deposit rates enable investors to secure a greater return on their deposits, which is especially advantageous for senior citizens seeking a reliable source of income. Additionally, certain banks extend extra interest rate benefits specifically for senior citizens.
Cashback, Discounts, and More
Apart from loans and FDs, many banks collaborate with retail brands to offer exclusive discounts, cashback, and reward points on credit and debit card spends.
Adhil Shetty, CEO of Bankbazaar.com, says, “Diwali is traditionally a shopping-heavy season. So, taking advantage of these offers can lead to savings. Many credit card companies also extend their reward points programs, allowing users to make the most of these benefits.”
Here are some top festive offers from some banks:
BANKSOFFERSBank of BarodaHome Loan:
Interest: Starting at 8.40%
Nil Processing fee
Longer Tenure
Car Loan:
Interest: Attractive ROI starting from 8.95%
Concessional processing charges
Fixed and floating ROI option available
Finance up to 90% of on road price of the vehicle
Special concessional ROI for Electric vehicles
Personal Loan:
Attractive ROI starting from 10.80%
ROI starting from 10.55% for Women Borrowers
Nil processing charges
Repayment period up to 84 months
Fixed Deposit:
Bob Utsav Deposit Scheme (400 Days):
General Public: 7.30%
Senior Citizen: 7.80%
Super Senior Citizen: 7.90%Bank of MaharashtraHome Loan:
Interest: Starting at 8.35%
Nil Processing fee
Longer Tenure
Car Loan:
Interest: Attractive ROI starting from 8.70%
Nil Processing feeLIC Housing FinanceHome Loan:
50% concession on Processing FeesSBIConcessional interest rate across various loan producta
Home Loan
Processing fees waived
Personal Loan:
Processing Fees Waived
Car Loan
Processing fees waivedHDFC BankCar Loan
Starting at 9.25%
0% Foreclosure Charges
Fixed Deposit:
2 Year 11 Months: 7.35%
4 Year 7 Months: 7.40%
*Additional .50% to Senior CitizensIndian BankFixed Deposit:
IND Super 300 Days: 7.05%
IND Super 400 Days: 7.30%
*Additional .50% to Senior Citizens and .75% to Super Senior CitizensPunjab & » Read More
