This festival season discounts on home loans, many banks including SBI and Punjab National Bank are giving loans at low interest rate
Bank of Baroda is offering 0.25 percent discount on the current interest rates of home loans under festival offer. SBI has announced to waive processing fees for home loans.
PNB brings Festive Bonanza offer to its customers
If you are planning to buy your own house in this festival season, then this time would be perfect for it. In view of the festive season, many major banks of the country are offering special offers on home loans. State Bank of India (SBI), HDFC, ICICI, Bank of Baroda and Punjab National Bank are offering many discounts on home loans. We are telling you about them.
Bank of Baroda Festival Offer
Bank of Baroda is offering 0.25 percent discount on the current interest rates of home loans under the festival offer. Apart from this, the bank will not charge process fees. The benefit of this offer can also be availed by transferring the loan to the bank. Bank of Baroda is offering home loans at an interest rate of 7.00 to 8.60 per cent per annum. On this you will get the benefit of festival offer.
PNB’s new offer
Punjab National Bank (PNB) has brought festive bonanza offers to its customers. Under this offer, the bank will not charge all the upfront, processing charge and document charge on the home loan. Customers can avail this offer through PNB branches or digital channels till 31 December 2020. The bank is currently offering home loans at 7.10 to 7.90% per annum.
State Bank of India (SBI) has announced to waive processing fees on home loans. But for this, customers will have to apply through the bank’s app YONO. SBI said that those customers will get special rebate in interest of 10bps or 0.10%, whose CIBIL score will be good. However, it will also depend on the loan amount. SBI is offering home loans at an interest rate of 6.95 to 7.95 per cent per annum.
HDFC Bank ‘Festive Treats’ Offer
HDFC Bank has launched ‘Festive Treats 2.0’ for its customers. Under this, customers will also get cashback, gift voucher and many other benefits along with exemption of processing fees and EMI on the loan. The bank is offering home loans at an interest rate of 6.95 to 7.65 per cent per annum.
ICICI Bank ‘Festive Bonanza’ offer
ICICI Bank has launched ‘Festive Bonanza’, which is getting many offers. Under this, interest rates start from 6.90 percent and processing fees start from Rs 3,000.
Kotak Mahindra Bank’s ‘Season of Happiness’ Offer
This festive season Kotak Mahindra Bank has reduced the interest rate on home loans to 7%. The bank has made several more offers under its festive offering ‘Khushi Ka Season’. Under this, the bank has decided not to charge processing fees on the loan. That’s why buying a house now will be beneficial
Property price falls in Corona era
Housing property sales have fallen drastically due to the Corona epidemic. It fell by 46 per cent to 29,520 units during the July-September quarter in India’s top 7 cities. According to the report by property consultant Enarock, the demand for housing property has decreased due to the corona epidemic. Sales of homes in these seven cities stood at 55,080 units in the same period last year. For this reason, right property can be found at low prices at this time.
Property registration is getting discounts
People are shying away from buying new properties due to the coronary period. In view of this, other states including Madhya Pradesh, Maharashtra and Karnataka have announced exemption of two to three percent in the registration fee to give a boost to the property business. Due to this, the final cost of the property has come down.
If you are taking home for the first time, under the Pradhan Mantri Awas Yojana, the government gives a subsidy of up to Rs 2.67 lakh on home loan interest. If you are thinking of buying a cheaper house, then through this scheme you can complete this unfinished work. For this, applications can be made by 31 March 2021.