Punjab National Bank (PNB) announced a new offer called ‘Deepawali Dhamaka 2023’ with an aim to cash in on the Diwali 2023
shopping trend. Under this offer, PNB customers can avail themselves of home loans at a reduced interest rate of 8.4% per annum, the bank said. Meanwhile, other banks like Bank of Baroda (BoB) and State Bank of India (SBI) have also launched their 2023 festive offers on a variety of products including home loans. Check out the latest Diwali offers by various banks.
Punjab National Bank (PNB) home loan, car loan offers in Diwali 2023
PNB customers can avail of car loans at an interest rate starting from 8.7% and enjoy a full waiver of processing fees and documentation charges, the bank said. For those who are interested in taking up a home loan from PNB, the interest rate starts from 8.4%. The bank will not charge any upfront processing fees and documentation charges here as well. Further, the home loan application can also be put in through PNB’s dedicated website at: https://digihome.pnb.co.in/pnb/hl/For car loan inquiries PNB customers can use the PNB ONE app or navigate to the car loan section on the PNB website: https://www.pnbindia.in/.
For additional information, customers can reach out to the bank either through the toll-free number 1800 1800/1800 2021 or visit the nearest PNB branch.
State Bank of India (SBI) home loan, car loan offers in Diwali 2023
SBI’s special festive campaign aims to capture the festive momentum for a broad range of customers. The special offer campaign started on September 1, 2023, and will end on December 31, 2023.
Under this special campaign, SBI customers will enjoy a higher concession on term loan interest rates depending upon their credit bureau score. The higher the score, the more concessions will be given. Up to 65 basis points (0.65%) interest rate concession will be given to the highest credit score customers. The credit bureau that SBI will check in order to determine the concession eligibility is CIBIL.
For example: if an SBI customer’s CIBIL score is in the range of 700 to 749 then they can get a term loan at an effective interest rate of 8.7% whereas before the campaign it was 9.35%.
Similarly, if an SBI customer’s CIBIL score is in the range of 750 to 799 then the term loan’s interest rate will be 8.6% under special rates, the bank said. The normal rate for this CIBIL score band is 9.15%. Lastly, if an SBI customer’s CIBIL score is 800 or more then the interest rate charged will be 8.6% instead of the normal rate of 9.15%.
Further for home loan takeover, Resale and Ready to Move in property loans 20 basis points (0.2%) extra interest rate concession is available over the above-mentioned rates for a CIBIL score of 700 and above.
Apart from term loan interest concession, SBI is also giving their customers an additional interest concession of 10 basis points (0.1%) on special categories of loans like Shaurya, Shaurya Flexi Vishisht, and Shaurya Flexi, as per the bank’s website.
Bank of Baroda (BoB) home loan, car loan offers in Diwali 2023
Bank of Baroda’s special festive campaign ‘Feeling of Festival with BoB’ will run till December 31, 2023. Under this special campaign, home loan interest rates start at 8.4% and no processing fees will be charged by the bank. Further car loans can be availed by BoB customers with interest rates starting at 8.7% per annum, the bank said. For both car and education loans, BoB customers would not have to pay any processing fees, the bank added.