Bank customers are all set to get loaded with gifts this festive season. Many public sector banks (PSBs) like Punjab National Bank (PNB), Allahabad Bank, Uco Bank and Bank of India have launched festival offers. These offers mainly include loans at reduced rates and waived off processing and documentation charges.
The offers will be valid till end of this year. PNB is giving special home loans at 8.5% for three years for loans amounting up to Rs 50 lakhs.
UCO Bank has given the offer that processing and documentation charges would be waived.
New car loans would be available at 10.5% for the first three years. "Festive season is a good time to attract new customers as people buy new houses and vehicles," said S . Srinivasan, general manager, finance, Uco Bank.
Allahabad Bank is offering loans at 1% concession.