Home loans, car loans, FDs and more: Here are some of festive bank offers
Subscribe to enjoy similar stories. NEW DELHI : The festive season brings joy and an inclination to start new things. People love to make new purchases or start fresh investments around Diwali.
Companies understand this well and offer plentiful discounts. Banks, too, are not far behind. They come out with festive offers on loans and fixed deposits (FDs).
We have compiled a list of banks and housing finance companies, in collaboration with BankBazaar, that are offering special offers this season. First up is Bank of Baroda (BoB). It is offering home loans at 8.40% onwards.
If your credit score is top-notch, you can get it at 8.40%. If the loan amount is ₹50 lakh for a 20-year period, the EMI will come at around ₹43,000. The bank will not be charging any processing fee, which could be 0.25-0.5% of the loan amount.
Moreover, the bank will be offering borrowers longer tenure so that the EMI could be affordable. However, note that longer tenure comes with the higher interest payment over the entire loan period. The interest rates on car loans and personal loans start at 8.95% and 10.80%, respectively.
Some concession is available on processing charges in car loans, while it is nil in the case of personal loans. The bank has also started the Utsav Deposit Scheme, offering 7.30% starting interest rates for the general public. Interest rates are 7.80% and 7.90%, respectively, for senior and super senior citizens.
The FD tenure will be 400 days. Bank of Maharashtra (BoM) is offering better interest rates on home loans and car loans than BoB. The interest rates for home loans and car loans start from 8.35% and 8.70%, respectively.
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