Personal Loan Offers This Diwali: Yes Bank Vs HDFC Bank Vs Kotak Bank And More

As the Diwali festival arrives in full swing, many people look to make new purchases or fulfil financial obligations. As one of the prominent festivals for the Hindu community, it is common for families to buy new items like clothes, gadgets, home-related products, vehicles, etc. Many leading banks and financial institutions also offer multiple credit lines such as EMI loans, personal loans, and vehicle loans with special offers during the festive times to attract customers and provide them with attractive interest rates. If you have any pending purchases to make or money matters to take care of, you can consider taking a personal loan during Diwali when you can benefit from attractive interest rates. For your consideration, we have compiled a set of personal loan offers that different banks are providing on the auspicious occasion of Diwali:

Check out the personal loan interest rates offered by major banks during Diwali this year:

• Yes Bank: Yes Bank is offering its customers personal loans ranging from ₹1 lakh to ₹40 lakh, while the time duration or tenure of repayment of these loans varies from 12 months to 60 months. As per their official website, the interest rates for Yes Bank personal loans start at 10.99% per annum. Moreover, the official Yes Bank website claims that no collateral is needed to secure these loans, and the customers have the option to choose their own repayment tenure, depending on their personal preference. Customers also have the facility to apply for personal loans online through the Yes Bank website. 

• Bajaj Finserv: Bajaj Finserv is providing personal loans of up to 35 lakhs to customers with a maximum repayment tenure of 60 months. Moreover, as per the Bajaj Finserv website, there are 3 variants of personal loans that you can choose from; Flexi Term Loans, Flexi Hybrid Loans, and Term Loans. The interest rates for personal loans at Bajaj Finserv start at 11% per annum. 

• HDFC Bank: HDFC Bank is offering personal loans of up to ₹40 lakh with interest rates starting from 10.75% per annum. The tenure of repayment ranges between 12 months to 60 months. HDFC bank also allows customers to apply for this loan online through their official website. 

• IndusInd Bank: The IndusInd Bank is offering personal loans ranging from ₹5 lakh for eligible customers. The interest rates for IndusInd Bank personal loans start from 11.00% per annum and the tenure of repayment is a maximum of 60 months. Most importantly, IndusInd Bank offers loans with no income documents required and offers online applications as well as an online loan approval process. 

• Tata Capital: Tata Capital offers personal loans of up to ₹20 lakh to customers. The tenure of repayment ranges from 12 months to 72 months. The interest rates for Tata Capital personal loans start at 11.25%. Moreover, Tata Capital also offers 100% paperless loans, meaning you can apply for a personal loan on their website and get it approved online without too much hassle. 

• Kotak Mahindra Bank: Kotak Mahindra Bank is offering personal loans ranging from ₹50,000 to ₹25 lakh for their customers. The interest rates for Kotak Mahindra Bank personal loans start from 10.50% and the tenure of repayment is between 12 months to 60 months. 

• Aditya Birla Capital: Aditya Birla Capital is providing personal loans of up to ₹30 lakh. The tenure of repayment ranges from 12 months to 60 months and the applicable rate of interest on personal loans starts at 11.00%.

Disclaimer: The above figures have been recorded at the time of writing from various bank websites and aggregator sites. The figures are liable to change over time. This article does not intend to pass on any financial advice and BQ Prime does not endorse any of the personal loan providers mentioned above. Take loans at your own discretion.