Festival Season: Right Time to Get Loans

Festival Season: Right Time to Get Loans

Festival Season: Right Time to Get Loans

India is a county of festivals and the spirit of each festival is so high that it makes everyone part of it by dropping across pious lines. But festivals are not just restricted to fun and celebration, during these times the market turn buoyant. While caterers are busy selling their best seasonal gourmets, fashion designers are putting up their brains to build the most interesting costume for each festival. And most importantly banks are busy offering discounted rates on all kind of loans for example, home loan, personal loan, car loan and loan against property.

The present festival season is witnessing a substantial growth in loans sector and if you are running short of cash or planning to buy a house or car, festive season is perhaps the best time to consider taking loans in India. Like how we expect getting a great discount on value products during seasons, you can also wish for financial firms to offer you attractive discounts on loans you go for.

Personal Loan Personal loan is most convenient of all, where you get cash in hand to spend however you wish. But the key to get great yet cheap deal on personal loan might be a tedious job. So it is best to hunt for personal loan in festival times, where most banks offer discounted rates up to 3-4% for government workers and also special waiver on processing fee for salary account customer.

Home Loan An own house is not only a dream, but is a most important asset for people today. There are sentiments involved, so has to be shopped carefully. During festive season many banks come out with special bonanzas offers where customers get discount on interest rates and less maturities time.

Car loans - Owing a car is not any more a luxury; it is a necessity for people today. And during festive time you are free to take advantage of some really cool offers offered by car manufacturers. Some banks extend their attractive offers by cutting the car loan interest rate by 0.50 or up to 1 percent on fixed rates in order to benefit customers. Such offers are limited time period (until festival) only, so make the best use of it.

Loan Against Property Loan against property is another convenient kind of loan more like personal loan. This loan is given against the mortgage property that the customer owns. And when festive time appears financial firms generally offers concession on interest up to 0.5 to 1% to attract new customers. Some banks also offers home loan floating rate at 8.5 for few years, which is generally 10.25 on an ordinary day!

Festive seasons usually start from September and runs till end of December. Proofs to avail such offers might differ from bank to bank; however the general proofs would include ID proof, address proof, salary certificate, IT document etc. Generally the bank offers such discounts to encourage customers from middle income group to lower. And to avail such reduced interest rate offers you will need to apply only during festive season, so go head and apply one of your choices!

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