In India, the holiday season is all about a festive frenzy. From buying new clothes to decorating the house, changing old furniture to booking a holiday trip, the holiday season is all about fulfilling your desires and living to your fullest. This is also a great time to pamper your loved ones with unique gifts because of the heavy festive discounts. But, if you are worried about the budget, then a quick cash loan can come to your aid.

You may not know this, but an instant personal loan is much more affordable than swiping your credit card. The interest rates on a credit card are much higher than that of cash loans. Thus, the total amount you end up paying on your credit card EMI is much higher. That’s not it! With loan apps making cash loans available with the tap of your fingers, availing an instant personal loan has become much easier.

But is taking out a personal loan to celebrate holidays a good idea? Personal loans can be very useful in emergencies or during a cash crisis because these can be availed with minimal documentation and do not necessitate any collateral. But is it feasible to avail of a personal loan to fulfil your lifestyle aspirations?

Well, if you know a few financial hacks then availing of an instant personal loan during the festive season can be a smart move. Read on to know how – 

  • Get the best of both worlds

During the festive season, you get good deals and discounts on your purchases. In addition to this, many financial institutes also offer discounts on interest rates and may waive the processing fee. Thus, you can save big on your purchase while paying back in small equated monthly instalments.

  • Leverage your credit score

Maintaining a good credit score can bring you many benefits when applying for a cash loan. You can negotiate on the interest rate, and processing fees and ask for other features on your loan. 

  • Plan your total payouts

A proper repayment plan and calculating your EMIs in advance can help you make the most of your personal loan. When you get great discounts on your purchases, the total payouts of your loan including the interest rates come within the total price of the product. 

Benefits of Taking A Personal Loan This Holiday Season

The advantages of a personal loan during the holiday season are as follows:

  1. Get discounts on Interest Rates during the holidays

Several banks and NBFCs offer special interest rate discounts during the holiday season to attract new customers. You can further bargain the interest rate you’re your lender if you have a solid credit score. Don’t forget to compare the loan offers from different lenders on a loan app to find the best deal that suits your requirements.

  1. Grab a reduction in the loan processing fee

Lenders typically charge a processing fee of 1% to 3% of the entire loan amount. However, during the festive season, they come up with various discounts on processing charges to attract customers. For instance, some lenders charge a flat processing cost of INR 500 for personal loans, while others give customers a 50% discount. Some may even waive the processing fee if you fit their criteria.

  1. You don’t need to pledge a collateral

A personal loan is an unsecured loan, meaning you do not have to put up any collateral or guarantee against the loan. This makes it easier for all to avail of a personal loan, the paperwork is minimal and you can get this loan based on your monthly income and credit score. You don’t need to have valuable assets to pledge to get this loan.

  1. Get cash disbursed into your account instantly 

If you find yourself in urgent need of cash, then also an instant personal loan can come to your aid. Whether it is the extra funds you need for a holiday or the last moment purchase decision, a cash loan can be your best bet. The processing time for personal loans is significantly less because of digitalization. 

  1. Pay back in easy instalments

A personal loan comes with a flexible repayment structure. You can choose the scheduled date for repayment as well as the loan tenure. Depending on your EMI affordability, and your loan amount requirement, you can choose a loan tenure of your choice.


Availing of an instant cash loan can actually be a smart financial decision if you make the right calculations. You need to be very cautious while choosing the loan and check for the lowest possible interest rate and maximum flexibility. In addition to this, you must also have a proper repayment plan in place to ensure regular EMI payments without a miss. This will not only help you fulfil your festive aspirations, but it will also help you build your credit score for future loans.


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