HDFC Bank launches festive scheme; home, personal, auto loans included

India’s largest private lender HDFC Bank has launched a range of special schemes for the festive season, including offers for personal loans, business loans, home loans and automobile loans.

The loans for these categories, which fall under a scheme titled ‘Festive Treats 4.0’, are applicable till October 31, 2022, the bank’s website showed.

For personal loans, HDFC Bank is offering the provision of credit of up to Rs 40 lakh at an interest rate of 10.50 per cent onwards, while in the business segment, the lender is offering the option of a collateral-free loan with 50 per cent off on the processing fee.

Under a category referred to as ‘Xpress Car Loan’, the bank said that loans would be disbursed in 30 minutes at an interest rate of 7.90 per cent onwards and no foreclosure charges. Used car loans would be offered at a rate of 10.75 per cent interest onwards and the option of no foreclosure charge after 2 years.

For home loans, HDFC Bank said it is offering a lower rate of interest for top-up loans of up to Rs 50 lakh, while loans against property under the scheme will have a flat processing fee of Rs 9999 and a special processing fee for balance transfers, the lender said.

The bank has leveraged on digital channels and is offering tie-ups with various brands across the consumer segment, it said.

“With an environment of positive customer sentiment, we expect a robust response to our wide array of offers for the season. The enhanced, digital experience will allow customers to avail of several banking services online, making festive shopping easier than ever,” said Ravi Santhanam, Chief Marketing Officer, HDFC Bank. END