Why You Should Take a Personal Loan This Festive Season

The festive season in the second half of the calendar year is a joyous time for Indians across regions and communities. There are important and auspicious occasions more than once a month, and it is the time to set all our worries of the year aside, spend time with our families, and make merry. However, the current financial situation could make the festive season itself a cause of worry. 

Festive spending is a significant part of yearly budgets. Every year, it is financed by bonuses as well as savings. With pay cuts this year, your best way to avoid financial stress and indulge in festivities without compromise at the same time would be a personal loan for festive season. 

Here are a few reasons why you must consider a personal loan for festive season. 

Advantages of taking a personal loan for festive spending in 2020

Here are just a few reasons why you shouldn’t really think twice before availing a personal loan for the festivities this year. 

Easy application

With festive preparations being juggled along with work obligations and a wish to compromise on neither, the last thing you’d want is another hassle in the form of a tedious loan application process. Thankfully, with the online personal loan options available right now, you can avail a few lakhs within a few minutes. Documentation required would be minimal, and disbursal could be quick as well. All the work that you need to do is look for a convenient lender. 

Stress-free debt

Most personal loans would not require you to pledge an asset as collateral. You will not have to carry the stress of losing out on a prized asset while trying to enjoy the festive mood. Plus, there are no conditions on the manner in which you spend your personal loan amount. You can use a personal loan for home renovation, a trip to relatives, gifts for your family, and much more. 

Additional Read: How to Use a Personal Loan to Reduce Your Financial Pressure this Festive Season

Flexible repayment tenure

The repayment tenure of your personal loan for the festive season would generally be relaxed. You can choose to spread your debt over a longer period and lower the monthly strain, or even decide to decrease the number of EMIs and pay a higher regularly for a fewer number of months. You can easily figure this part out by using a personal loan EMI calculator available online. 

What can you use this personal loan for?

There are a lot of festive deals that you wouldn’t want to miss. But mainly, there are some must-do festive spending duties during Diwali, Dussehra, Christmas, and New Year’s Day that you can make sure your family doesn’t miss only due to lack of funds.

• Revamping your house with new paints, lights, decorations, furnishing, and giving it a new look altogether is something you do every year. It isn’t something that you should avoid and have a dull Diwali. 
• Surprising your family with extravagant gifts is a priceless opportunity and you ought to take it, especially when it can be paid for so easily. 

• Festive season is the biggest shopping opportunity of the year. You must grab it and splurge to your heart’s content. After all, it only comes once in an entire year, and it also makes for some quality time with family. 
• Since the usage of your loan will not matter to the lender, you can even plan a trip to faraway relatives’ homes and have a mini family get-together. Your children can meet their cousins, too. After all, more the merrier! 
• So what if you cannot move away from your house due to medical concerns? You can throw a grand feast for your friends and family members who stay close by. 

Additional Read: 5 Financial Scenarios in Which you should Opt for Personal Loan

Conclusion

A personal loan is indeed not as big a hassle as it used to be. There is no reason why you shouldn’t go ahead with one and make this festive season grand for yourself and your family. In fact, after having been through a difficult year, this is exactly what we all need to gift ourselves and end the year on a high. 

Still looking for a quick fix for your festive spending? Check out Tata Capital Personal Loan, a flexible, collateral-free loan that comes with a quick application process, minimal required documentation, attractive interest rates, and quick disbursal of the loan amount in your bank account!