Diwali comes early – for the person buying a house!

To brighten up the festive season, some banks have introduced attractive offers on their home and auto loans.

· State Bank of India is offering:

• Home loans of up to Rs 50 lakh at fixed interest rates of 8% p.a. for the 1^st year and 8.5% p.a. for the next 2 years

· IDBI is offering the following from the period October 1 to December 31, 2009:

• Auto loans at 8.5% p.a. (as compared to 12% p.a. previously)
• Home loans less than Rs 30 lakh at reduced floating rate of 8.75% p.a. (from 9% p.a.)
• Home loans between Rs 30 lakh-Rs 50 lakh at reduced floating rate of 9% p.a. (from 9.5% p.a.)
• Home loans above Rs 50 lakh at attractive floating rate of 9.25% p.a. (down from 9.5% p.a.)

· Bank of Rajasthan has slashed home loan rates in an offer valid till December 31, 2009:

• Fixed rate is reduced to 9% p.a. for the 1^st year, and 10% p.a. for the 2^nd and 3^rd year
• Floating rate is cut to 8% p.a. for the 1^st year and 9% p.a. for the 2^nd and 3^rd year

· Punjab National Bank is offering:

• Home loans upto Rs 30 lakh at 8.5% p.a. fixed rate, with a reset clause of 3 years. This offer is valid only till October 31, 2009

· Bank of India, under its Festival Offer valid till October 20, 2009 is offering:

• Home loans upto Rs 10 lakh at 8.5% p.a. for a repayment period of 3 years

Hurry, and make the most of these offers, while they last! However, ensure that you read all the fine print of these offers before subscribing to them.