IDBI Bank launches festive offers on home, car and study loans

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NEW DELHI: IDBI Bank is the latest lender to offer a plethora of loan features and flexibilities with the aim of enjoying the joy of the holidays ahead.

To ring in the Indian festival chain, IDBI Bank, on the occasion of its founding week, unveiled its retail asset products, namely auto loans, education loans and home loans, with enhanced functionality, ”the bank said in a statement.

The bank launched auto loans for high-end bikes and new cars called i_zoomdrive. The loans offer 100% financing for certain segments, no partial or pre-closing penalties and attractive interest rates. The bank did not disclose the interest rates.

Home loans will have additional features, such as zero processing fees, fast processing, and flexible repayment options, as per the statement.

Other big banks like State Bank of India and HDFC have, in recent weeks, unveiled festive offers on their mortgage and other consumer loans. SBI and HDFC offer concessional mortgage rates starting at 6.7%, while the state-owned Punjab National Bank offers a rate of 7.10% on mortgage loans and 7.55% on mortgage loans. auto loans.

Interest rates on loans have been at their lowest in recent months. The Reserve Bank of India has kept its policy rates unchanged since April 2020 to revive credit flows amid disruption caused by covid-19.

IDBI Bank also launched i_learn student loans for specialist courses and abroad with higher duration.

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