Bank customers are soon to receive gifts during this festive season. Many PSU banks such as Punjab National Bank (PNB),Allahabad Bank, UCO Bank and Bank of India have introduced festival offers. These offers chiefly comprise of loans at lower rates and relinquished processing and documentation charges.
The offers will be applicable till this year gets over. PNB is offering special home loans at 8.5% for 3 years for loans with sums up to Rs 50 lakhs.
UCO Bank has offered the waiver of processing and documentation charges.
New car loans would attract an interest rate of 10.5% for the 1st 3 years. S . Srinivasan, GM, UCO Bank said, “Festive season is a good time to attract new customers as people buy new houses and vehicles,” said general manager, finance, Uco Bank.
Allahabad Bank is giving a concession of 1% on loans.