Private sector lender ICICI Bank is among the long list of banks that have announced their festive season offers. According to a press release issued today, as part of its ‘festive bonanza’, from October 1, customers can avail home loans linked with a rate of interest rate of 6.7% and a processing fee starting from Rs 1,100 onwards. Those looking to take a personal loan can get a loan starting from 10.25%.

Here’s a look at what ICICI Bank is offering as part of its festive bonanza on various types of loans:

• Home Loan: Customers can avail an interest rate (repo rate linked) starting from 6.70% on new home loans and balance transfers of home loans from other banks and processing charges starting from Rs 1,100.
• Auto Loan: EMI starts from Rs 799 per Rs 1 lakh. Customers can also avail loans for a tenure of up to 8 years. Customers can avail an interest rate of 10.5% on a used car loan and can also avail a top-up loan against their existing car loan.
• Two-Wheeler Loan: EMI up to Rs.29 per Rs.1,000 for a tenure of 48 months. Flat processing fee of Rs 1,499.
• Immediately personal loan: Interest rate starting from 10.25% and flat processing fee of Rs 1,999.
• Consumer Finance Loans: No cost EMI available on leading brands of home appliance and digital products. Quick and fully digital process with minimal documentation.
• Enterprise Loan- Insta OD (Overdraft): Unsecured ODs up to Rs 50 lakh and non-ICICI Bank customers can avail benefits up to Rs 15 lakh. Pay interest on the amount used without any foreclosure charges.

Along with the loan, the bank has also announced offers available across various brands and e-commerce platforms, and banking products including credit cards, savings and current accounts. “We have seen that over the past 12-18 months, customers have put a hold on spending and there has been a significant reduction in demand in the system. Over the past few months, macro indicators show that there is a clear pattern of consumption and buying. Growth. To support this demand and overall economic growth during the upcoming festive season, we are offering our customers an extensive bouquet of offers, discounts and cashback across several leading brands and e-commerce platforms.Offers ICICI Bank Applicable when using Debit/Credit Cards, Internet Banking and Cardless EMIs.Also, we have provided banking solutions-Loans, Cards, Electronics & Gadgets, Savings & Current Accounts and No-Cost-EMI for financing NRI accounts. Business banking, among others, said Anoop Bagchi, executive director, ICICI Bank.

offers from other banks
festive season offers of banks

State Bank of India (SBI) is offering festive season home loans at 6.70% irrespective of loan amount, Kotak Mahindra Bank has reduced rates to 6.5%.

SBI has also waived processing fees on home loan. Click
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Separately, Kotak’s festive offer of 6.5% is the lowest in the industry and will be valid from September 10 to November 8. The limited celebration period offer will be applicable to all loan amounts and both new loan and balance transfer cases.

Punjab National Bank has waived service charges and processing charges on all retail products.

Ahead of the festive season, Bank of Baroda has also launched retail loan offers. The bank is offering a discount of 25 basis points on the prevailing interest rates for home and car loans. Home loans for the public lender start at 6.75% and car loans at 7%. The bank is also waiving processing fees on home loans.

Mortgage lender, Housing Development Finance Corp or HDFC said it will offer home loans at 6.7% interest rate for people with credit scores above 800, according to the lender’s website. Click
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