Executive Summary – The festive season is approaching and all businesses – banks, consumer durable makers, auto makers etc. have started showcasing their special offers for customers. Banks like ICICI, HDFC and SBI have discounts on home loans. PNB has special offers for personal loans for durables as well. Many banks have offers on car loans. Auto manufacturers and consumer durable makers have lined up exciting offers for customers in terms of discounts and freebies.
The festive season will start in no time and people buoyed by the festive mood will want to make some special purchases. It is also the season of gifting and so there will be a lot of shopping in everyone’s agenda. Some may want to go on a holiday trips during this time. Businesses be it companies, banks or malls have exclusive offers, discounts etc. to woo more customers. Let us look at what they have to offer to you –
1) Lowering of interest rates on loans – Many banks have special offers on loans. PSU banks and private sector banks have better interest rates for home loans and car loans during the festive season. People look to buy property/ cars/ consumer durables during the auspicious festive season.
2) Online shopping – Online shopping is becoming increasingly popular among customers.
More banks will have tie-ups with shopping websites and other consumer durables’ manufacturers in the next weeks. Many banks will announce to offer more reward points on their credit cards for shopping during the festive season.
3) Offers by other companies – All companies try to woo customers during the festive season. Many people desire to purchase a vehicle during the festive season or go for a holiday as schools have vacations. Auto companies therefore come up with attractive offers to woo them.
LG, Samsung and Sony will also be coming up with exciting offers for consumers.
When you shop for the festive season, do look out for the offers available and make your purchases such that you get the best offers. All companies will have freebies and discounts. You should look at the fine print. Discounts may be available only if you spend above a certain amount or available only at select branches of the store. A typical offer is a 5% cashback on purchases and it is written in fine print that there is a limit of Rs. 1000 on that. This means if you buy for Rs. 20,000, you will get Rs. 1,000. But if you spend Rs. 50,000, you will still get only Rs. 1000. You should keep financial prudence in your mind and not spend and buy unnecessarily.
When you shop for the festive season, do look out for the offers available and make your purchases such that you get the best offers. All companies will have freebies and discounts. You should look at the fine print. Discounts may be available only if you spend above a certain amount or available only at select branches of the store. A typical offer is a 5% cashback on purchases and it is written in fine print that there is a limit of Rs. 1000 on that. This means if you buy for Rs. 20,000, you will get Rs. 1,000. But if you spend Rs. 50,000, you will still get only Rs. 1000. You should keep financial prudence in your mind and not spend and buy unnecessarily.
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