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Grab the bank’s festive loan offer 2012 before it ends


Grab the bank’s festive loan offer 2012 before it ends
The car loan offer also consists of discounts and fee waiver by the banks. HDFC has stretched the loan tenure to seven years for more time ease to its customers. ICICI is offering a reduction up to .75% depending on the term of loan. The interest rate charged by SBI and PNB seems to be most aggressive at 10.5% Pa. The festive offer would be available until 30th Nov or 31st Dec 2012(it may vary from a bank to bank).

The festival car offer by banks is as follows:

BANKS CAR LOAN Festive Benefit Additional Offer Offer Valid Till
HDFC BANK NA Up to .35 % Tenure up to 7 Years NA
ICICI BANK 11.5 % to 17 % for various tenure discount up to .75% NA 31-Dec-12
SBI 10.5 % Pa No Change Processing Charges reduced by 50% NA
Bank Of Baroda Interest @ 11.25 % for 5 year and 11.75 % for more than 5 year loan Concession in interest rate up to 175 bps on different tenures 100% waiver of unified processing charges NA
PNB 10.5 % to 11 % Pa No Change waiver of processing fee 30-Nov-12

Final Words

The current offers by banks are attractive and beneficial for the customers, but one should also focus on the total cost for the full term to analyze it better. The festive offer of interest rate discount over the usual rates' matters a lot in home loans due to high corpus involvement. Car loan customer needs quick service and processing ease along with rate's discount. Customer should focus on its own requirements and ensure the exact match with the current offer before concluding on the loan decision.

Read more about: home loan interest rates banks
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