Shardiya Navratri 2025: Banks & NBFCs Roll Out Special Schemes To Attract Borrowers

With Shardiya Navratri 2025 marking the start of the festive season, banks and NBFCs are launching special loan schemes with reduced rates, fee waivers, cashback offers, and digital-first disbursals to tap the rising demand for homes, vehicles, and consumer goods.

“Festive offers are a tried and tested growth lever. Banks and large NBFCs use reduced rates, fee waivers and partner cashback to accelerate originations. We expect a meaningful uptick in loan enquiries, especially for home and consumer finance, but lenders will remain selective on underwriting — pricing and collateral standards will drive quality through the season,” says Vijendra Singh Shekhawat, CEO, Choice Finserv.

Here's a breakdown of the types of offers you can expect:

1. Types Of Offers Being Introduced This Festive Season

Reduced Interest Rates: Many lenders are offering lower interest rates on various loans, including home loans, personal loans, and vehicle loans this Navratri. “This is a key incentive to attract borrowers during the festive season,” says Raoul Kapoor, Co-CEO, Andromeda Sales and Distribution Pvt Ltd.

Fee Waivers: You can expect waivers on processing fees, which can significantly reduce the upfront cost of taking a loan.

Cashback Offers: “Some institutions are also providing cashback offers on loan amounts, which can be a direct financial benefit to the borrower,” says Kapoor.

Digital-First Disbursals: To make the loan process faster and more convenient, many lenders are offering fully-digitized application and disbursal processes.

2. Benefits For Borrowers

Many banks and financial institutions are offering several benefits for new borrowers.

* Bajaj Finserv is offering home loans with interest rates starting from 7.45 per cent per annum with minimal processing fees. They also have pre-approved offers for eligible customers.

* HDFC Bank is providing Xpress Personal Loans with attractive interest rates starting from 10.50 per cent per annum and quick disbursal.

* IndusInd Bank is offering personal loans with competitive rates and flexible repayment options.

* Axis Bank has come out with various deals and offers on their financial products

3. Specific Festive Offers On Vehicle Loans, Personal Loans, And Credit Cards

Home Loans:

Bajaj Finserv has introduced exclusive Navratri home loan offers with low-interest rates, minimal processing fees, and quick approvals.

Personal Loans:

Bajaj Finance is offering personal loans up to Rs 55 lakh with instant approval and disbursal within 24 hours. They also have a Flexi Term Loan option with interest-only EMIs for the first 24 months.

HDFC Bank is promoting their Xpress Personal Loans with loan amounts up to Rs 40 lakh, and a simple application process.

IndusInd Bank is providing personal loans to cover festive expenses like big purchases, celebrations, travel, and gifting.

4. Offer Details:

Bajaj Finserv Home Loan:

    *   Interest rates starting from 7.45 per cent p.a.

    *   Flexible repayment tenure of up to 32 years.

    *   Fully digitized process.

    *   Eligibility: Indian residents, with age criteria for salaried and self-employed applicants, and a CIBIL score of 725 or higher.

Bajaj Finance Personal Loan:

    *   Loan amount up to Rs 55 lakh.

    *   Interest rates ranging from 10 to 31 per cent p.a.

    *   Repayment tenure of up to 96 months.

    *   Eligibility: Indian residents, aged 21 to 80 years, with a CIBIL score of 685 or higher.

HDFC Bank Xpress Personal Loan:

    *   Loan amount up to Rs 40 lakh.

    *   Interest rates starting from 10.50 per cent p.a.

    *   No collateral required.

    *   Pre-approved offers and top-up loan facilities are available.

It is, however, advisable to compare offers from different lenders and use tools like home loan eligibility calculators to make an informed decision. Also, “ensure you have a good credit score and all the necessary documents ready for a smooth application process,” suggests Kapoor.