Diwali is the biggest spending season in India. New phones, gold, home items, gifts — and banks know it. This year, SBI, HDFC Bank and PNB have launched festive loan offers with lower rates and fee waivers. But an offer is only good if it truly saves you money. Here is a simple comparison of the Diwali 2026 offers, and the safety rules to follow before you borrow.
HDFC Bank Festive Treats 2026
HDFC Bank launched its “Festive Treats 2026” campaign on 10 October with more than 10,000 offers. The main loan highlights:
- Xpress Personal Loan: interest starting at 9.99% per year, loans up to ₹50 lakh, fully digital process
- Xpress Car Loan: interest starting at 8.25%, zero foreclosure charges, tenure up to 8 years
- Home loans: starting at 7.2%
- Card offers: savings of up to ₹70,000 on purchases using HDFC credit cards and EasyEMI
Remember: “starting at” rates go only to customers with high CIBIL scores and strong income. Most people get a higher rate.
SBI Festive Offers
State Bank of India is offering concessional (discounted) interest rates on personal loans, car loans and gold loans for the festive season. SBI is also waiving processing fees on loans for its customers. For existing SBI customers, this fee waiver can save a few thousand rupees on day one.
PNB Utsav Festivities 2026
Punjab National Bank’s “PNB Utsav” campaign offers:
- Full waiver of processing and upfront fees on home loans, plus a small rate discount
- Full processing fee waiver on car loans
- Offers across personal loans and other retail loans
Quick Comparison Table
| Bank | Main festive offer | Fee benefit |
|---|---|---|
| HDFC Bank | Personal loan from 9.99%, car loan from 8.25%, home loan from 7.2% | Card/EasyEMI savings up to ₹70,000 |
| SBI | Concessional rates on personal, car and gold loans | Processing fee waiver |
| PNB | Rate discount on home loans, festive retail loan campaign | Full processing fee waiver on home and car loans |
5 Safety Rules Before Taking a Festive Loan
- Borrow only the gap. First use your savings for what they can cover. Borrow only the balance amount. A loan for a Diwali sale item is still a loan in January.
- Compare total cost, not just the rate. Add processing fee, GST and insurance charges. A 9.99% loan with high fees can cost more than an 10.5% loan with no fees.
- Read the Key Facts Statement (KFS). Every lender must give you this one-page summary of the full cost. Never skip it.
- Do not take a loan app loan for shopping. Instant apps charge much higher rates than bank festive offers. See our checked list of instant loan apps and the fake loan apps warning list before you install anything.
- Keep EMI below 40% of your salary. Add all your EMIs together. If they cross 40% of your monthly take-home pay, the loan is too big.
Conclusion
This year’s festive offers are real but modest — the best benefit for most people is the processing fee waiver, not the headline rate. Compare the total cost from at least two banks, borrow only what you truly need, and remember that the cheapest Diwali purchase is the one you do not put on a loan.
Frequently Asked Questions
Which bank has the best Diwali 2026 personal loan offer?
HDFC Bank’s Xpress Personal Loan starts at 9.99%, but that rate is for the best credit profiles. SBI and PNB are strong choices if you value the processing fee waiver. Compare your personal offer from at least two banks.
What CIBIL score do I need for the lowest festive rate?
Most banks give their lowest “starting at” rates to customers with a CIBIL score of 750 or above and a stable salary.
Is a processing fee waiver really useful?
Yes. On a ₹10 lakh loan, a 1% processing fee is ₹10,000 plus GST. A full waiver saves that full amount on day one.
Should I take a no-cost EMI instead of a loan?
No-cost EMI can be fine for a single product you would buy anyway. But it is still a loan on your credit report, and a missed payment hurts your CIBIL score like any other loan.
Sarthak Gupta writes about personal finance, loans and credit for Indian borrowers. His guides on Techy Loan explain CIBIL scores, RBI rules and loan apps in simple language so readers can borrow safely and confidently.
