BT Online New Delhi Last Updated: August 22, 2017 | 18:03 IST
With Ganesh Chathurthi round the corner, it is a good time for borrowers with several banks announcing various deals as part of their festive season bonanza. Here's a look at what's in store for the borrowers.
Home loans: You may get a step closer this time in shifting to your own home with deals offered by banks. Private lender banks like Axis Bank is offering a waiver of 12 EMIs on home loans up to Rs 30 lakh under its Shubh Aarambh Home Loans. Bank will waive off four EMIs at the end of the 4th, 8th and 12th year of the home loan for borrowers who are regular in paying their EMIs. However, this offer is only valid for first-time borrowers. The caveat: one single missed EMI can disqualify you from this offer.
Car loans: Don't put off your plan to buy your dream car because of the processing fee that adds to its cost. After disappointing its customers by reducing saving interest rate, the State Bank of India (SBI) is all set to woo its customers by waiving off 100% processing fee on car loans. The offer is valid till December 31, 2017. Punjab National Bank too has waived off its processing fee and documentation charges on its car loans till September-end.
Gold loans: Now you can get loan against your gold ornaments at a lesser processing fee. Country's largest lender the State Bank of India (SBI) has waived 50 percent of the processing fee on personal gold loans. The offer can be availed till 31 October, 2017.
Personal loans: Banks claim to understand your urgent requirement of money and have come out with offers accordingly. So for instance, SBI has waived processing fee on its Xpress Credit - a personal loan by it till 30 September, 2017. Similarly private lender ICICI Bank has come out with instant credit cards through which customers who can shop online immediately.
