Festival time is here! While the season brings feelings of happiness and prosperity, it is also that time of the year when our ‘tendency’ to spend money increases. After all, there is a long array of things that need to be done to enjoy the festivities, like purchasing sweets or gifts for family & friends, revamping home, buying new clothes, gold and jewellery pieces, etc. With the enticing baits (read as- lucrative offers) being thrown at you both online and offline, it is easy to get tempted into excessive spending and go beyond the financial capacity. 

Though money can’t buy happiness; it can certainly buy those things which can make you happy during this season.

To add more glitz to the festival vibes, you can opt for a personal loan and deal with any financial crunch. Below are some of the great reasons for using a personal loan to brighten up your festival:

1. Simple Process- Indeed, it is one of the busiest time of the year when you have so many arrangements to make. With personal loans, you can get immediate funds without running from pillar to post. Unlike other available financing options, it is easy to get a personal loan as the lender may be interested in checking your salary and CIBIL score only. If you satisfy the lender on both these parameters, your personal loan application is likely to get approved.

2. Easy to Avail- Thanks to the online personal loans offered by various financial institutions, you can fill the personal loan form online from the comfort of your home. The power of the internet allows you to compare and choose the right online personal loan option in a few clicks of the mouse as per your convenience. If everything goes well, your online personal loan application may also get sanctioned in three or four days.

3. No Restrictions on Use- While you can use financing options like home loan, car loan, education loan, etc.; for specified purposes only, you are free to use your online personal loan in the way you want. Hence, you can apply for a personal loan and use it to purchase new electronic items or gifts, decorate your home during this season, buy new designer dress for yourself or for any other purpose. In any case, the lender would not ask you to disclose the purpose of applying for a loan.

4. No Collateral Required- As a personal loan is an unsecured loan, you don’t require a security against the borrowed amount. It means you will not lose ownership of the asset even if you miss your loan EMI. Since there is no collateral involved, personal loans can remain a secret between you and the lending institution. Further, every lender has its privacy policies which ensure complete confidentiality.

5. Easy Repayment Schedule- Nowadays, lending institutions offer customised repayment schedule that comes loaded with a high degree of flexibility for customers. Some of the repayment schedules offered by lending institutions are bullet flexi plan, balloon plans, etc. After analysing your financial obligations, you can say yes to any of the repayment schedules and repay your loan with ease.

Undeniably, online personal loans ensure a stress-free festive season by meeting both immediate and planned cash requirements. It lets you buy items you want even when you don’t have sufficient cash in hand.

Remember…

While taking a personal loan, it is essential to do a proper research and study all the available loan options carefully. It is quite easy to get besotted with the one offer and ignore the other options. However, don’t choose a personal loan based on the interest rates and fees only. In fact, compute the total price of the loan, including interest and quickly spot any problematic clause which you can do only if you carefully read the policy document.

The Final Verdict

Whether you want to go on a shopping spree or travel to celebrate the festival with your relatives or friends in a new city or country, do not let finances dampen your spirits. Apply for an online personal loan and live those special moments the way you want!