State Bank of India (SBI), Bank of Baroda (BOB), ICICI Bank, and several other major Indian banks have lined up an array of offers to lure customers during the festive season. The following is a list of offers extended by various banks.
State Bank of India
SBI Card is offering over 1,600 deals in online and offline mode to customers in Tier 1, 2, and 3 cities between September 22 and October 31, 2022. In a statement, the companies said the offers, which include 1,550 regional and hyperlocal deals and 70 offers nationwide, are valid in 2,600 cities. In addition, customers can receive cashback rewards of up to 22.5 per cent of the transaction amount from various partner brands.
In addition, the SBI Card has partnered with e-commerce platform Amazon for its ongoing Amazon Great Indian Festival Sale, which will last till October 3. Additionally, it has collaborated with 28 national and global partner companies, including Flipkart, Samsung Mobile, Reliance Trends, Pantaloons, Raymonds, LG, Samsung, Sony, Hewlett Packard, Make My Trip, etc., for various deals.
"Our festive offers are a reflection of these efforts, and we hope that through these, we will be able to enhance the festive enjoyment for our customers," said Rama Mohan Rao Amara, managing director and chief executive officer, SBI Card, in a statement.
HDFC, India's largest bank, has launched Festive Treats 4.0–the fourth edition of its annual offer campaign on all its banking and lending products and shopping discounts. Its offers include discounts on loans, card deals, and equated monthly instalments (EMIs) to ensure ready cash for customers.
HDFC has partnered with Apple to offer Rs 5,000 cashback on card purchases besides easy EMIs and extra savings via the SmartBuy option. "Customers can also avail of a personal loan in 10 seconds, Xpress car loan in 30 minutes, loan on cards, and open an Insta account online," the bank said in a press statement.
Some key offers by HDFC Bank
Personal loan: Avail of a personal loan up to Rs 40 Lakh in 10 seconds, interest rate @10.50 per cent onwards. Business Loan: Avail of a collateral-free loan with a 50 per cent discount on processing fee. Xpress car loan: Car loan disbursal in 30 minutes, with interest rate @7.90 per cent onwards and zero foreclosure charges.
Used car loan: Interest rate @10.75 per cent onwards, zero foreclosure after 24 months. Two-wheeler loan: EMI @ Rs 1,000 onwards, down payment starts at Rs 999. Credit cards and easy EMIs: Avail EMI for up to 24 months and save up to 20 per cent on selected brands by using HDFC Bank credit cards & EasyEMI. Gold loan: Fifty per cent off on processing fee and quick disbursal. Loan against property: Flat processing fee of Rs 9,999 and special processing fee for a balance transfer. Home loan: Lower rate of interest on top-up loans up to Rs 50 Lakh. Loan against securities: Flat processing fee of Rs 999 + tax, interest rate @ 10.25 per cent
Bank of Baroda
Bank of Baroda has announced its annual holiday sales campaign, "Khushiyon ka Tyohaar," offering deals such as favourable interest rates on home and car loans, processing fee waivers, discounts, etc.
Interest rates on BOB home loans start at 7.95 per cent per annum with zero processing fees. Car loan interest rates start from 7.95 per cent per annum, a 25 basis points concession.
Besides, customers will have longer repayment tenure of seven years, concessional processing charges, and no pre-payment or part payment charges under the Khushiyon ka Tyohaar campaign.
Last week, ICICI Bank announced its "Festive Bonanza," which offers various deals, including discounts and cashbacks up to Rs 25,000 for customers using the bank's credit or debit cards, internet banking, avail of consumer finance, and cardless EMI options.
The bank is also providing festive bonuses across product ranges such as mobile phones and other electronic items, clothing, and jewellery from domestic and international brands. Also, there are offers for home and personal loans, consumer finance, two-wheeler loans, etc.
Axis Bank has partnered with e-commerce platform Flipkart for a 10 per cent immediate discount on selected goods. In addition, customers who hold the Flipkart Axis Bank credit card can receive an 8 per cent discount on some items and five per cent cashback.