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.
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.
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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