Offers: During the festive season, many banks including SBI and Punjab National Bank are getting special offers on home loans with low interest rate offers.

  • SBI has announced exemption of any processing fees for home loans
  • PNB brings a festive bonanza offer to its customers

If you are thinking of buying your house in this festive season then this time would be perfect for this. Many big banks of the country are offering special offers on home loans in view of the festive season. State Bank of India (SBI), HDFC, ICICI Bank, Bank of Baroda and Punjab National Bank are offering several discounts on home loans.

Bank of Baroda Festival offers
Bank of Baroda is offering 0.25% discount on the current interest rate on home loan as per festival offer. In addition, the bank will not charge any processing fee. This offer can also be availed by transferring loan to the bank. Bank of Baroda is offering home loan interest rates at the rate of 7 to 8.60% per annum. On top of this you will get the benefit of festival offers.

PNB’s new offer
Punjab National Bank (PNB) has brought a festive bonus for its customers. Under this offer, the bank will not charge all types of upfront, processing charge and documents on home loan. Customers can avail this offer through PNB’s 10,897 branches or digital channels till December 31, 2020. The bank is currently offering home loans ranging from 7.10% to 7.90% per year.

SBI Offers
State Bank of India (SBI) has announced waiving of processing fees on home loans. You do not have to pay any processing fees when buying a house. But for this, customers have to apply through the bank application YONO. SBI said it would offer special discounts to customers at an interest rate of 10BPS, or 0.10%, with a good score. However, this will also depend on the loan amount. SBI is offering home loans ranging from 6.95% to 7.95% per annum.

HDFC Bank offers F festive treats’
HDFC Bank has launched ‘Festive Treats 2.0’ for its customers. Under this, customers will get cashback, gift voucher and EMI along with many other benefits and a discount on processing fees. Home loans are available at interest rates of 6.95% to 7.65% per annum.

ICICI Bank’s ‘Festive Bonanza’ offer
ICICI Bank has launched ive festive bonanza, which is getting a lot of offers. Under this, interest rates start from 6.90% and processing fees start from Rs 3,000.

So it would be beneficial to buy a house now

Property prices fell during the Corona period
The Corona epidemic has caused a sharp decline in housing property sales. Sales in the top seven cities in India declined by 46% to 29,520 units during the July-September quarter. According to a report by property consultant Anarok, the demand for housing property has declined due to the Koro epidemic. Home sales in these seven cities were 55,080 units in the year-ago period. For this reason, good assets can be found at low prices at this time.

Get a discount on property registration
Due to the Corona period people hesitate to buy a new property. 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 promote the property business. This has also reduced the final cost of the property.

Getting subsidy
Under the Pradhan Mantri Awas Yojana, if you are buying a house for the first time, the government offers a subsidy of up to Rs 2.67 lakh on home loan interest. If you are thinking of buying an affordable home, then you can complete the unfinished business through this scheme. Applications for this can be made from 31 March 202.