GeneralTop StoryTop StoryLatest News
Diwali Loan Offers: How to Ensure You're Really Saving
Sentiment: NeutralHigh Priority
What Happened?
As Diwali approaches, banks offer tempting loan deals. However, borrowers must carefully assess the true savings and costs associated with these loans.
Key points
- Festive loans can appear affordable but may have hidden costs.
- The average passenger vehicle loan in India reached Rs 8.2 lakh in 2026.
- Zero-interest loans often have costs built in elsewhere.
- Borrowers should compare total repayment amounts, not just EMIs.
- Longer loan tenures can reduce monthly payments but increase total interest.
Key insights
- Consumers may overlook hidden costs in festive loan offers.
- A larger loan size reflects rising vehicle prices, impacting affordability.
- Understanding the total cost of borrowing is crucial for financial health.
Why it matters
Understanding loan offers can help consumers make informed financial decisions during the festive season.
Source
India Today
