Banks gentle up Diwali with cashback affords, fee cuts

From cash-backs to reductions, zero foreclosures expenses, sharply discounted processing charges and decrease rates of interest on provide for financial institution clients
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From cash-backs to reductions, zero foreclosures expenses, sharply discounted processing charges and decrease rates of interest, banks have rolled out a bunch of affords to garner most enterprise from Diwali 2025.

Nation’s largest personal lender HDFC Financial institution is providing over 10,000 affords throughout playing cards, loans, PayZapp and EASYEMI. The lender is providing private mortgage at 9.99 per cent fee of curiosity, with as much as 72 months tenure at zero foreclosures free (supplied the mortgage quantity is above ₹15 lakh and CIBIL rating of buyer is over 730). It’s providing residence loans with charges beginning 7.40 per cent until October finish, and automobile loans at 8.55 per cent with zero foreclosures expenses.

It’s providing such incentives throughout enterprise, two-wheeler, gold loans and mortgage on bank cards, amongst different variants. Financial institution will leverage its community of over 9,499 branches, and 21,251 ATMs, and greater than six lakh service provider and vendor touchpoints for this festive marketing campaign. It plans to do over 37,000 on-ground activations at retail centres, residential complexes and places of work to carry the affords nearer to clients.

Banks sometimes cost 8.75-9.65 per cent rate of interest on residence loans relying on buyer’s CIBIL rating, whereas automobile loans have rate of interest of over 10 per cent and private loans with rate of interest upwards of 12-13 per cent. Processing charges differs throughout banks for various mortgage merchandise.

With the most recent GST fee cuts, fall in revenue tax charges and competition season demand, bankers count on retail credit score development to rise over 20 per cent in H2FY26 from 14-15 per cent development seen in H1.

“The triad of the tax advantages, GST and rate of interest cuts appears to be engaged on floor degree as we see financial exercise visibly bettering throughout buyer and product section. On this background, now we have a chance to speed up mortgage development, which is what now we have began to do from this quarter. We consider that this may maintain and proceed and now we have to attend and watch,” stated Sashidhar Jagdishan, MD & CEO, HDFC Financial institution.

ICICI Financial institution, in the meantime, is providing a particular processing charge of ₹5,000 for residence loans and processing charge of ₹999 for auto loans. It’s providing up ₹6,000 immediate cashback on iPhone 17 buy and as much as ₹50,000 in cashback and reductions throughout varied electronics manufacturers like LG, Haier, Panasonic, Bluestar and JBL, amongst others. Clients also can avail of engaging reductions on a spread of merchandise at Croma and Reliance Digital.

Says Rakesh Jha, ED, ICICI Financial institution, “…This yr, we’re delighted to supply a wide selection of offers throughout high manufacturers, with thoughtfully designed affords to fulfill our clients’ evolving wants. Our clients can avail of those affords by means of credit score/debit playing cards, web banking, cardless EMI and client finance. They will additionally go for no-cost EMI utilizing their credit score/debit playing cards.”

Particular residence mortgage charges

Financial institution of Baroda (BoB) is providing particular rate of interest beginning at 7.45 per cent for residence loans, with nil processing charge. It’s giving rate of interest concession for ladies debtors, Gen Zs & Millennials aged beneath 40 years. The house mortgage curiosity will likely be calculated on a day by day lowering steadiness foundation.

For these eyeing a brand new set of wheels, automobile mortgage rates of interest have been lowered, together with as much as 90 per cent financing of the on-road worth of the automobile and prolonged reimbursement tenures – going as much as eight years for electrical automobiles. In actual fact, BoB is giving EV consumers an extra nudge with a 50 per cent concession in processing expenses for electrical automobiles.

IndusInd Financial institution is providing as much as 50 per cent off on processing charge throughout mortgage merchandise together with residence, automobile, private loans and loans in opposition to property. It’s providing private mortgage with rates of interest beginning at 10.49 per cent for mortgage quantity as much as ₹50 lakhs, with mortgage tenure as much as 84 months. Dwelling mortgage offers for long-tenure loans as much as ₹10 crore have been introduced by the financial institution, together with a flat processing charge of ₹10,000, prolonged mortgage tenures and steadiness switch choices.

Printed on October 19, 2025