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Bank Offers on Diwali 2021

Diwali Bank Offers: Details

Last Updated 05th Dec 2021

  • Diwali is a festival of light celebrated in India, majorly in northern states and southern and western.
  • This year Diwali will be celebrated on November 4, 2021 Thursday.
  • It is a five-day festival, Dhanteras, Govardhan and Bhai Dooj is celebrated before and after Diwali.
  • It is auspicious to buy new things like houses, cars, two-wheelers and gold during this time.
  • To help people celebrate Diwali or buy their favourite items, lenders introduce festival offers.
  • You can take advantage of lower interest rates, processing fees or waiver of prepayment charges.
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Diwali Holiday 2021

Diwali, also known as Deepavali, is a festival of lights that is observed in India. The Hindu community of India mainly celebrates this festival. It is a five-day religious festival that starts from Dhanteras and ends with Bhai Dooj. This year Diwali will be observed on November 4, 2021 Thursday. It is believed that it is auspicious to purchase during this time, especially if you want to buy a house, car, two-wheeler or even gold jewellery.

Personal Loan Diwali Offers

A personal loan is an unsecured loan that can be taken for any purpose like buying a consumer durable home renovation or a car or a two-wheeler. Many lenders offer such loans in India with attractive offers. You can witness a sudden reduction in rates and processing fees during Diwali. Here are the offers which banks are providing on personal loans during festival season:-

Bank NameCurrent OfferDiwali OfferValid Till
ICICI BankInterest Rate: 10.25%
Processing Fee: 2.25% of the loan amount
Processing fee flat Rs 1,999NA
Axis BankInterest Rate: 10.49%
Processing Fee: Up to Rs. 4,999
Special Interest Rate of 10.25%November 20, 2021

Instant Personal Loan Offers on Diwali

Instant personal loans are loans that are available within a few hours. Generally, most lenders provide these loans, but apart from banks, few online loan apps like MoneyTap, EarlySalary etc., offer personal loans at competitive rates. The instant personal loan works best to buy consumer durables like washing machines, refrigerators, microwaves, television etc. During the time of Diwali, lenders come up with appealing offers to attract customers.

Bank NameCurrent Offer
MoneyTapInterest Rate: 13%
Processing Fee: 2%+GST
PaysenseInterest Rate: 15.96%
Processing Fee: Rs. 500+GST
FinnableInterest Rate: 18.99%
Processing Fee: 4% + GST
Early SalaryInterest Rate: 24%
Processing Fee: Rs. 399

Diwali Home Loan and Home Improvement Loan Offers

Buying a house is a dream for many, but happiness gets doubled if you make your dream come true on occasion. In India, it is considered auspicious to invest in a home. Diwali is the best time to avail of home loan and home renovation loan at a slashed interest rate and processing fees and save money.

Bank NameCurrent OfferDiwali OfferValid Till
ICICI BankInterest Rate: 6.75%
Processing Fee: NIL
Interest rate slashed to 6.70%, Processing fee starting from Rs. 1,100.NA
Bank of BarodaInterest Rate: 6.75%
Processing Fee: 0.50% of the loan amount
Rates slashed by 0.25%. Processing fee waived off.December 31, 2021
SBIInterest Rate: 6.8%
Processing Fee: 1% of the loan amount
Interest rate slashed to 6.70%, Processing fee waived offMarch 31,2022
HDFCInterest Rate: 6.8%
Processing Fee: Up to Rs. 3,000
Rate cut by 10 bps to 6.70%October 31,2021

Diwali Offers on Gold Loan

There is a belief that gold is not an expense; it is an investment. There is a tradition of buying gold on Dhanteras, but there can be a chance that you might be short of funds. In such a case, you can take a gold loan from a lender. You can take a gold loan from the following lenders and avail of special offers:-

Bank NameCurrent Offer
ManappuramInterest Rate: 7%
Processing Fee: Rs. 10
Yes BankInterest Rate: 8.99%
Processing Fee: 0.10% of the loan amount
HDFC BankInterest Rate: 9%
Processing Fee: 0.20% of the loan amount
MuthootInterest Rate: 11.99%
Processing Fee: Up to 1% of the loan amount

Celebrate the Diwali With MyLoanCare’s Exciting Offers: Apply Now

What if you get a lower interest rate also as well as cashback from us- MyLoanCare. During festival season, MyLoanCare also provides attractive offers like cashback and referral bonuses. We will help you get the best offers. To apply with MyLoanCare, perform the following steps:-

  • Step 1: Fill the MyLoanCare Application form
  • Step 2: Select the product from the drop-down- Home loan, personal loan, gold loan.
  • Step 3: Enter the details name, pin code, phone number, employer name etc.
  • Step 4: Click ‘Get Quote’.
  • Step 5: Now, fill in additional details as required to complete a home loan or personal loan application.
  • Step 6: Click ‘Get offers’.
  • Step 7: Offers will be displayed as per your eligibility.
  • Step 8: After that, the MyLoanCare advisor will call you to assist with the process.

FAQs

When will Diwali be Celebrated in 2021?

In 2021 Diwali will be celebrated on November 4 Thursday. Diwali is a five-day festival; two days before is Dhanteras and the next day is Govardhan puja and Bhai Duj.

Why is Diwali Celebrated?

Hindus majorly celebrate Diwali or Deepavali. This festival is celebrated to respect Lord Rama’s return from Ayodhya after 14 years of exile. It also marks righteousness and the lifting of spiritual darkness.

Why avail a Personal Loan this Diwali?

If you need finances to buy a consumer durable, car, two-wheeler or pay bills, you can take a personal loan. Diwali is a good time to opt for a personal loan because lenders offer slashed interest rates and processing fees.

Does the Bank offer the Best Loan offers on Diwali?

Yes, banks do offer the best loan offers on Diwali. For example, ICICI Bank is currently providing the best offer of Diwali at Interest rate slashed to 6.70%, Processing fee starting from Rs. 1,100. The current offer is valid till NA.

Why is Diwali the Best Time to Avail a Personal Loan for Home Renovation?

Diwali is the best time to avail of a personal loan for home renovation because you get the best deal on loans from lenders, and also, you can get discounts on consumer products.

What are the Benefits of Getting a Home Loan or Personal Loan This Diwali Festive Season?

If you take a home loan or personal loan during Diwali, the lender can slash interest rates, processing fees, or prepayment charges. Some banks also waive such fees during the festive season.

Is this Diwali a Good Time to Purchase Property?

Yes, this year, you can invest in property because interest rates on home loans are all-time low, property rates are low. Also, you can lower interest rates and processing fees during the Diwali season.

What are the Loan offers for Electronic Appliances in this Diwali festival Season?

If you wish to buy electronic appliances, then you can avail of a personal loan. Currently, you can get the best offer of Processing fee flat Rs 1,999, Special Interest Rate of 10.25% from ICICI Bank, Axis Bank.


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