Looking to buy a house or car this Diwali? Here are various offers by banks

The festive season is on and several banks have announced several offers. If you are looking to get a home or car loan, be sure to check the below-mentioned offers and compare the various schemes, instead of rushing for the intial one you encounter.

For instance, Punjab National Bank is offering home loans at a reduced interest rate of 8.4% per annum, while SBI customers will enjoy a higher concession on term loan interest rates depending upon their credit bureau score. Bank of Baroda's special festive campaign will run till December 31, 2023, where home loan interest rates start at 8.4% and no processing fees will be charged by the bank. Further car loans can be availed with interest rates starting at 8.7% per annum.

BankBazaar has curated a list of home, car and personal loan offers from leading banks of India during the Diwali season:

Data taken from respecitve bank's website. Last date to avail the festive offer may vary from bank to bank.

It is recommended that you take your time to compare offers from different banks instead of rushing for the initial one you encounter. Diwali is a big festival and the best time for good offers, yet it's crucial to be mindful of your expenditures.

" Avoid borrowing beyond your means, even if the interest rates seem appealing. While festive offers can trim expenses, it's vital to exercise prudence. Refrain from impulsive purchases—create a list of essentials and buy only if the deal is favourable. Many banks extend pre-approved loans and credit cards to their current customers, often with more favourable terms compared to standard offers," said Adhil Shetty, CEO of Bankbazaar.