Due to the festive season, banks are also not lagging behind. While on one hand online e-commerce websites are offering cheap offers to woo people, now banks have also started giving special gifts to their customers. Yes, during the festive season, the 3 largest public sector banks of the country have introduced festive season deals for the customers. Let us also tell you about this big deal of banks…
Actually, many big government banks of the country including State Bank of India, Bank of Baroda, Punjab National Bank are giving many types of offers to the customers during the festive season. Someone is offering loan at low interest. So someone has waived the processing fee.
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Punjab National Bank offer
Punjab National Bank (PNB) has announced a new offer named Diwali Dhamaka 2023 to capitalize on Diwali 2023. The bank said that under this offer, PNB customers can avail home loan at a low interest rate of 8.4 percent per annum. Also, processing fee and documentation charge will not be charged. For those who are interested in taking home loan from PNB, the interest rate will start from 8.4 percent. Apart from this, home loan application can also be made on PNB website https://digihome.pnb.co.in/pnb/hl/.
SBI’s special festive campaign has started on September 1, 2023 and will end on December 31, 2023. Under this, SBI will give huge discounts to customers on term loan interest rates based on their credit bureau score. The higher the score, the more relaxation will be given. Those with the highest credit score will be given interest rate relief of up to 0.65 percent. The credit bureau that SBI will check to determine concessional eligibility is CIBIL. For example: If an SBI customer’s CIBIL score is between 700 to 749, he can get a term loan at an effective interest rate of 8.7%, whereas before the campaign it was 9.35%.
Apart from this, additional relief of 20 basis points will be given on the rates given for home loan takeover, resale and ready to move property loans for CIBIL score of 700 and above. According to the bank’s website, apart from the term loan interest concession, SBI is also offering its customers an additional interest concession of 0.10 per cent on special category loans like Shaurya, Shaurya Flexi Vishisht and Shaurya Flexi.
Bank of Baroda’s special festive campaign Feeling of Festival with BOB will run till December 31, 2023. Under this special festive campaign, home loan interest rates will start from 8.4 percent and no processing fee will be charged by the bank. The bank said that apart from this, bank customers can also take car loan at interest rates starting from 8.7 percent per annum. The bank said that for both car and education loans, BOB customers will not have to pay any processing fee.