Christmas is one of the most widely celebrated festivities around the world. It not only rings the bells for holidays but also reminds you of all the pending resolutions. Whether it is buying a high-end gadget or taking that trip during the holidays, renovating your house or hosting a Christmas party, a personal loan can help you tick these aspirations from your bucket list.
Your home may require a little renovation from time to time. Whether it is getting the necessary repairs done, or refurnishing your home to give you a modern look, painting your walls or getting a new home appliance, a personal loan can help you in meeting these needs.
With an instant personal loan through a loan app, you can use the funds to renovate your house in any way you desire. You can compare different lenders on your loan app and go for the one that offers you your required loan amount at the minimum interest rate. Also, before applying for the loan make sure to sketch out your budget and find out the amount you actually need.
The holiday spirit has already begun, and with the new year only a few days away, there cannot be a better week to plan a trip. You can plan a national or an international trip during the holidays to enjoy the best of Christmas spirit.
Whether it is a solo trip or a trip with your friends and family, you can avail plan a luxury trip with a personal loan. A personal loan gives you the liberty of unrestricted end-use which means you can use the loan amount to book your flight tickets, hotel booking, or other expenses related to your trip.
During the Christmas season, well-known brands offer significant discounts on their products. If you want to buy designer dresses, jewellery, or any high end gadget or appliance, you can do so with the help of a personal loan. With the discount on your products clubbed with the offer on your personal loan interest rate, you can get your desired products at the best rates.
While opting for a online personal loan during the Christmas season, make sure to plan it well. Opting for shorter loan tenure for a personal loan could bring you the lowest interest rates, however it is equally important to keep your loan EMI affordable.
Purchasing a new vehicle may also be on your to-do list. But given the pricing of a new vehicle, an outright investment in it might not be possible if you are on a tight budget. This is where you should look into getting a personal loan.
You may be wondering why you should not go with a vehicle-specific loan. The reason is such a loan requires a down payment of 10-30% or even more. Furthermore, you must bear additional costs such as comprehensive insurance, road tax, and so on. However, with a flexible personal loan, you can purchase your dream vehicle and manage all these costs.
You should try to pay off your high-interest debt before Christmas and begin the new year with fewer financial constraints. Personal loans are frequently obtained for debt consolidation. If you have several credit cards with pending bills on each of them, then you can opt for a personal loan to pay off your credit card bills.
Also, if you have an on-going loan with high interest rate, then opting for a loan transfer can help you switch to a lower interest rate. However, please note that to get the best benefits on a personal loan, you should have a good credit score.
Exchanging gifts on Christmas is a common tradition across the world. If you are planning to give high-end gifts to someone very close to you, such as siblings, parents, a spouse, or a close friend, then a personal loan can come to your aid. You can also use this amount to host a Christmas party for your friends and family.
The loan is available for up to Rs 5,00,000. All you need is a stable job, a decent and consistent income, and a good credit score. There are many lenders offering personal loans and the amount they offer may vary from lender to lender. Make sure to compare the offers from various lenders to find the best offer.
Availing a personal loan during the holidays can help you meet your obligations. You may use the funds to meet household needs, child education fees, medical bills for yourself or your loved ones, or business needs. The lender does not place any restrictions on you or ask why you are applying for this loan product.
Financial institutions will never ask you to put up security in order to obtain this loan. However, if you have an average credit profile or have missed a few EMIs in the past but for genuine reasons, putting collateral can help you avoid loan rejection. You can get funding at a reasonable interest rate by collateralizing gold ornaments, risk-free investment policies, or vehicle documents.
You can obtain a personal loan for Christmas for a period ranging from 12-60 months. The lender allows you to choose the optimal term based on your budget. In order to check your affordability, use a personal loan EMI calculator.
A personal loan for Christmas can be obtained with as little as Rs 15,000 in monthly income. For business owners, the total work experience necessary is two years, and for salaried employees, it is six months.
Also Read: 5 Factors That Affect Your Personal Loan Eligibility
Also Read: Learn Everything About Personal Loan Disbursal Process
Is getting a personal loan a good idea for making your Christmas memorable? Availing a personal loan can be a great option. However, before opting for a personal loan, remember that it is a financial liability, and you must be very cautious with your borrowing behaviour. If you have a solid repayment plan for your personal loan, then it is a smart choice to avail one!
Hero Fincorp offers a wide range of financial products including Personal Loans for personal needs, Business Loans to support business growth, Used Car Loans for purchasing pre-owned vehicles, Two-Wheeler Loans for bike financing, and Loan Against Property for leveraging real estate assets. We provide tailored solutions with quick processing, minimal paperwork, and flexible repayment options for smooth and convenient borrowing experience.