Homepersonal finance News

    Banks go all out to woo customers with sweet festive offers

    Banks go all out to woo customers with sweet festive offers

    Banks go all out to woo customers with sweet festive offers
    Read Time
    3 Min(s) Read
    Profile image

    By CNBCTV18.com  IST (Published)

    Mini

    In the past few weeks, lenders such as HDFC Bank, Axis Bank and ICICI bank have announced a range of shopping discounts and loan offers for the festive season. More announcements on luring offers are expected during the upcoming festive days starting with Navratri on September 26

    With the onset of the festive season, banks are giving a spectrum of offers on loans with the hope to woo retail borrowers.
    After a lull brought about by the pandemic, banks are betting on festive demand to clock a strong growth in retail loans and are offering lower interest rates and tempting deals to customers.
    In the past few weeks, lenders such as HDFC Bank, Axis Bank and ICICI bank have announced a range of shopping discounts and loan offers for the festive season. More announcements on luring offers are expected during the upcoming festive days starting with Navratri on September 26.
    Here is a look at some festive season announcements on loans by different lenders.
    HDFC Bank
     – Private lender HDFC Bank announced discount offers under its Onam ‘Festive Treats’ campaign in Kerala till September 30.
    “The Onam ‘Festive Treats’ campaign offers discounts on purchases, lower processing fees and lower interest rates on a variety of loans,” Sanjeev Kumar, branch banking head, south (Tamil Nadu, Puducherry & Kerala), HDFC Bank, said in a statement.
    Under the campaign, the bank is offering customers lower interest rates at 7.9 percent on Xpress Car Loan and an interest rate starting from 8.10 percent per annum for new home loans. Existing customers can apply for a top-up loan up to Rs 50 lakh, the bank said in a statement. Apart from this, the bank is offering a dozen loan products to address every financial need of its customers.
    Recently, the country’s largest private sector lender rolled out a special offer for government employees, giving them 75 percent discount on home loans’ processing fees. The offer is avail on home loans up to Rs 50 lakh.
    South Indian Bank -- South Indian Bank scrapped the processing fee for pre-approved car loans for its prime and platinum customers. The bank is also offering concessional rates for group personal loans.
    Apart from this, HDFC Bank, Axis Bank, and ICICI Bank are also giving festive offers to their customers for the sale season.
    Axis Bank and ICICI bank are offering a flat discount of up to 10 percent on the use of credit cards for shopping online during the sale season. The offer is valid on a specific translation value only.
    As part of its Monsoon Bonanza offer, ICICI Bank is offering discounts on a range of products on Flipkart and bookings on MakeMyTrip.
     
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!

    Previous Article

    How to prepare for a recession? Key tips you can start now

    Next Article

    NPS withdrawal timeline reduced: All you need to know

    arrow down

      Most Read

      Market Movers

      View All
      CompanyPriceChng%Chng