Festive Loan Deals: Save ₹15K in Fees — Act Fast

Bank of India and Axis Bank are running festive offers on home and car loans — including processing fee waivers and interest rate discounts. If you're planning a big loan, the next few weeks could genuinely save you thousands in upfront costs.

Here's what happened: Bank of India announced processing fee waivers on home and car loans, with the festive offer window extending through March 2027.. Axis Bank launched interest rate discounts on select retail loan products as part of its festive lending campaign.. Both banks are targeting salaried and self-employed borrowers looking to take fresh home, car, or personal loans during the high-demand festive quarter..

What you should do: Compare the effective cost of borrowing — interest rate plus all fees — across at least 3 lenders before locking in the festive offer from any single bank.. Ask your bank explicitly whether the processing fee waiver applies to your loan type, amount, and employment category before submitting your application.. Check your CIBIL score now — festive rate discounts typically go to borrowers with scores of 750 or above, and a weak score will cost you more in rate than the waiver saves in fees..

Processing fee waivers save you cash on day one, but a 0.10% lower interest rate on a ₹40 lakh home loan saves you over ₹80,000 across 20 years. Always calculate both before deciding which offer is genuinely better.