HDFC Bank Offers Rs 75 Lakh Collateral-Free Loan at Low Interest Rate; Auto Loan at 7.5%

HDFC Bank, India’s largest private sector lender, has launched its Festive Treat 3.0 campaign with over 10,000 offers on personal loans, cards and EMIs. The bank has collaborated with over 10,000 merchants across more than 100 locations in the country to offer its customer an opportunity to avail benefits of deals created according to their personal and business needs

Speaking on this launch ahead of the grand festive season, HDFC Bank’s group head – payments, consumer finance, digital banking, and IT, Parag Rao said that the range of offers on credit cards is not just about coming back with the bank but also about spurring India’s consumption story. Rao hoped that with the economy opening up after COVID-19 lockdowns, consumer spending is going to be better than the last year.

Earlier in December last year, the bank was temporarily banned from issuing new credit cards. The ban was finally lifted in August this year.

The bank has partnered with national and international merchants like Amazon, Apple, Shoppers Stop, LG, Sony Samsung, Ajio Reliance Trend and many others. HDFC has also taken to these offers to regional markets and onboarded merchants like Vijay Sales, Pothy’s, DigiOne, GRT Jewellers, Sarmgam electronics and many others.

Benefits offered to customers as part of these festive treats include cashback and no-cost EMI on premium smartphones, offers on electronics and personal loans starting at 10.25 per cent with instant disbursal in the account. Customers will also be able to avail car and two-wheeler loan at discounted interest rates and zero foreclosure charges.

Some of the key highlights of HDFC festive treats are:

– Up to 22.5 per cent cashback and no-cost EMI on electronic appliances like washing machines and refrigerator

– Rs 6,000 cashback on iPhone 13. No cost EMI offer on other premium phones as well

– Up to 100 per cent funding on two-wheeler loans at four per cent lesser interest rates

– 50 per cent discount on processing fee on commercial vehicle loans

– Collateral free business loans of up to Rs 75 lakh along with a 50 per cent discount on processing fee.

-Zero Processing Fee and funding of up to 90 per cent on tractor loans

-Car Loan starting at 7.50 per cent with Zero Foreclosure charges

“This has been one of the most challenging periods for people due to the pandemic. Festive Treats 3.0 is not just about spending for oneself but also about helping others who are facing extremely difficult situations,” Rao further added.

“This has been one of the most challenging periods for people due to the pandemic. Festive Treats 3.0 is not just about spending for oneself but also about helping others who are facing extremely difficult situations,” said Ravi Santhanam, CMO, head-corporate communications, liability products & managed programs, HDFC Bank.

“Festive purchases will benefit many others employed in small businesses and create a chain of recovery across the spectrum. This is reflected in the theme of this year’s Festive Treats, ‘Karo Har Dil Roshan’,” he further mentioned.

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