Reasons Why to Choose a Personal Loan for Festive Season

The festive season is a time for celebrating traditional and cultural activities with loved ones but it can also bring a lot of expenses. From buying gifts to planning a vacation, the costs can add up quickly. That is where getting a festival loan comes in handy, as it can help cover the expenses and allow you to fully enjoy the festive celebrations without worrying about financial constraints. 

Let’s now look at the top reasons why opting for a personal loan is simply wonderful in this festive season.

Top Reasons to Choose a Personal Loan for Festive Season

1. Shop for Festivals

An essential component of holiday festivities is buying new clothing and presents for loved ones. However, spending money on several items at once might get pricey. These costs extend beyond merely clothing and presents. During the holiday season, the majority of major retailers and e-commerce sites conduct special sales and promotions, making it an excellent opportunity to purchase other pricey items that are on sale.

With a personal loan, you may quickly pay for all significant costs at this fortunate moment. Applying for an immediate loan online is simple, and you may get the money in your bank account without ever going to a branch.

2. Give your Home a Makeover

Have you put off remodeling your house for a long time? Do you wish to modernize the interior design of your house? Or are you only interested in repainting your house? Whatever improvements your house requires, Diwali is a great opportunity to make them.

You may remodel your home without breaking the bank with the aid of an instant personal loan. They have various repayment choices and don't demand collateral, so you may pay back the loan whenever it's convenient for you.

3. Clear Pending Debts

The festival of lights is seen as fortunate for fresh starts. Therefore, why not pay off all of your previous debts and credit card bills? This will enable you to regain control over your money and start anew for your financial well-being.

Due to its flexible end-use and lack of collateral requirements, a personal loan is an excellent solution to pay off your bills. To make loan repayment as convenient as possible, you may choose a payback period that meets your needs and budget.

4. Buy Jewellery

During Dhanteras, purchasing gold or silver is seen as lucky. Silver or gold investments are also fantastic investments. However, the soaring costs of these precious metals can be debilitating. You may easily purchase these priceless jewels by taking out a personal loan.

The holiday season is a terrific time to purchase precious metals since it also signals the start of the wedding season. You may pay for these pricey expenditures with a personal loan rather than using up your savings.

5. No-Cost EMI

During Diwali, the majority of manufacturers provide electronics and gadgets with free EMI. This gives it the perfect opportunity to buy the things you've had your eye on. You may effortlessly purchase your selected things with the aid of an immediate personal loan by using it to pay the deposit.

You may return the loan amount whenever it's convenient for you thanks to flexible repayment terms and interest rates that start at only 11%.

Addressing the Concerns of Using Personal Loans During Festivals

There are several concerns associated with availing of personal loans during festivals and the concerns have been stated below - 

• Unnecessary Splurging - Seeking a personal loan to satisfy momentary desires may leave you burdened with the stress of handling large monthly instalments
• Monthly Burden - Paying the monthly loan EMI will increase your financial obligations and add to your existing debt
• Value of the Product Decreases - Availing loans for purchasing consumer durable products results in high monthly instalments. These loans can be obtained quickly. However, it is important to note that the value of such products tends to decrease rapidly over time
• High-Cost Loan - Despite banks and NBFCs offering multiple festive deals, personal loans remain expensive due to their high-interest rates

The Conclusion

A quick personal loan is your ticket to make this Diwali special for your loved ones, whether you want to decorate your home or indulge in some luxury shopping. Additionally, you may benefit from Investkraft’s competitive interest rates, which start at only 11%, flexible repayment terms, 100% online application procedure, minimal paperwork requirements, and other benefits. We are providing personal loans with a 0% processing charge till Diwali to make the holiday of lights even more wonderful for you. Apply right now from the comfort of your home.

FAQs

Q. Can I expect to get special offers on a personal loan from Investkraft?

-: Yes, we will surely come up with exciting offers on our personal loan products during the festive season.

Q. Can I avail two personal loans at a time?

-: If you satisfy the requirements and have the means to repay more than one personal loan on time, you may do so. However, if you are currently repaying one personal loan, it may be difficult to get approved for a second loan because eligibility requirements are stricter.

Q. What matters the most when applying for a personal loan?

-: One of the most crucial elements a lender takes into account when assessing a loan application is the applicant's credit score. Based on elements including payment history, quantity of outstanding debt, and duration of credit history, credit scores range from 300 to 850.