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In recent weeks, several banks have introduced special schemes that feature reduced interest rates and waived processing fees.
This could be the perfect time to purchase a home, a car, or even invest in fixed deposits (FDs).
As the festive season approaches with celebrations like Dhanteras, Diwali, and Bhai Dooj, government banks are unveiling a range of enticing loan offers and special discounts aimed at prospective buyers. Whether you’re looking to purchase a home, a car, or even invest in fixed deposits (FDs), now could be the perfect time to take advantage of these competitive rates.
In recent weeks, several banks have introduced special schemes that feature reduced interest rates and waived processing fees. According to Bankbazaar, notable institutions such as Union Bank of India, Bank of Baroda, and Punjab and Sind Bank are among those offering appealing terms on various loan and deposit products.
Key Offerings from Major Banks:
- Home Loans: Interest rates start at 8.40%, with no processing fees and extended repayment tenures.
- Car Loans: Starting from 8.95% with reduced processing charges.
- Personal Loans: Rates begin at 10.80%, with a concessional rate of 10.55% for women. No processing fee and repayment options of up to 84 months.
- Fixed Deposits: Offers 7.30% interest for the general public, 7.80% for senior citizens, and 7.90% for super senior citizens under the ‘Bob Utsav Deposit Scheme’.
- Home Loans: Starting at 8.35% with no processing fees.
- Car Loans: Interest rates begin at 8.70%, also with no processing fees.
- Home Loans: Offering a 50% discount on processing fees.
- Home Loans: No processing fee required.
- Personal Loans: Processing fee waived.
- Car Loans: Processing fee waived. Special interest rates apply across various loan products.
- Fixed Deposits: The IND Super 300 Days Scheme offers 7.05% interest, while the IND Super 400 Days Scheme offers 7.30%. Additional benefits of 0.50% for senior citizens and 0.75% for super senior citizens are available.
- Home Loans: Starting at 8.45%, with waived processing charges.
- Vehicle Loans: Starting from 8.64%, with processing charges waived.
- Home Loans: Interest rates start from 8.35%, with no processing fees.
- Car Loans: Starting at 9.25% with no foreclosure charges.
- Fixed Deposits: 7.35% for a tenure of 2 years and 11 months, and 7.40% for 4 years and 7 months. Senior citizens receive an additional 0.50% interest.
With these compelling offers, now is a strategic time for consumers to consider making significant purchases or investments.
