In India, the holiday season has already begun, and shops are ready with a wide range of goods and services at discounted prices. It is believed that it is lucky to buy new clothes, gold, property, home items, etc. on the day of a festival. You might also want to celebrate the festivals by buying gifts for your friends and family.
Many people choose to spend a lot of money during this time by getting high-interest personal loans and by using credit cards. If you are looking for the best personal loan interest rates in the market for this season, you have come to the right place. Piramal Finance will help you fund your festivities without putting a dent in your pocket.
Perks of Getting a Personal Loan During the Festive Season
There are many reasons why you should get a personal loan to pay for expenses during festivals. The following are some of the best reasons to consider:
- High Financial Burden of FestivalsYou can borrow up to Rs 25 lacs at some of the best personal loan interest rates. So, when your expenses are bound to rise during festivals, taking out a personal loan is the best way to pay for them.
- Ease of Spending MoneyWhen you take out a personal loan, the money is yours to spend however you like. As a result, you are not bothered by bank restrictions and policies. You can go all out for all events, such as Karvachauth or Durga Puja, with the right gifts.
- Low-Interest RatesWhen it comes to taking out a personal loan during the holidays, one of the best perks is finding the best personal loan interest rates. During this time, you might find yourself bagging personal loans with low interest rates.
- Easy ProcessThe process of getting a personal loan online has never been simpler. Almost all financiers have shifted their services to online platforms. The process to get a personal loan is also made simple when done entirely online.
- No CollateralA personal loan is an unsecured loan, which means that they do not need to offer the bank anything as collateral to get approval.
Factors to Consider to Find the Best Personal Loan Interest
- Credit ScoreMaintain a strong credit score at all times. Most lenders favour people with credit scores of 750 or above. An application could be denied if the credit score is lower than 750. A solid credit history is needed to be approved for and get the best personal loan interest rates.
- Need AssessmentYou need to determine exactly how much money you need to borrow. If you take out a personal loan for more money than you need, you run the risk of being unable to repay the loan amount.
- Eligibility CheckYou must make sure that you qualify for a personal loan. Your credit score might get slightly lowered if you apply for a loan. So, unless you are sure of approval, do not apply. With a lowered credit score, you will find it tough going forward to borrow money.
- Market ResearchDuring the holiday season, many lenders give special offers that salaried as well as self-employed people can enjoy as perks. Spend some time researching loan offers from a variety of lenders. Then, pick the one that caters to your needs and matches your repayment capacity. With Piramal Finance, you can rest assured of getting the best personal loan interest rate in the market.
- One loan applicationYou must not spread yourself too thin by trying to collect money from many sources all at once. Multiple loan applications given at the same time can hurt your credit score. They are recorded as “hard inquiries” on your credit report. This means that you appear to be in urgent need of funds, suggesting a poor financial situation. So, lenders may reject your application.
Apply for a personal loan with Piramal Finance
Piramal Finance offers a wide range of financial services. It is also registered with the National Housing Bank as a home finance organisation, giving both wholesale and retail access to capital. The platform’s home finance, structured debt, senior secured loan, construction finance, and Flexi Lease rental discounting options are just the tip of the iceberg for the full range of its capital solutions for the real estate industry.
Piramal Finance offers solutions for institutional and personal investors through Piramal Fund Management and strategic alliances with CPPIB, APG, and Ivanhoe Cambridge. Our loan can finance a vacation, a dream item, school tuition, or a wedding. Piramal experts will guide those who need a loan through their online application process and ensure that they get the best personal loan interest rates.
Perks of Loan Packages at Piramal Finance
- No charges for prepayment or foreclosure
- Loans starting at Rs 1 lac and going up to Rs 10 lacs
- No paperwork
- Easy approval and quick cash disbursement
- The best personal loan interest rates in the market
- Flexible repayment terms, starting at 12 months and going up to 60 months
- Combining multiple sources of income to increase personal loan eligibility
Personal loans are nothing to be scared of if you get them after a careful assessment of your needs and repayment ability. If you have a regular job, a stable income, faith in your ability to repay a loan, and need to make some unavoidable expenses during festivals, getting a personal loan can make sense. If you want to avail the best personal loan interest rates and financial services, visit Piramal Finance.