Personal Loan

All you need to know different offers on pre-approved personal loans in this festive season


A personal loan can help you get funds to meet your needs. A loan such as this is often unsecured. Banks and lenders usually forward such loans to customers who have a clean financial record. If you want to secure funds from a bank, it is easy to get a pre-approved personal loan. There are several offers on pre-approved loans. So, if you are considering getting a personal loan this season, then festive offers are going to make it easier for you. 

Make sure that you understand how much personal loan you need. After this, you will need to decide on other things like the repayment period, based on your income. Subsequently, you can use an online personal loan calculator to estimate the interest and amount of the loan. Personal loans bring financial freedom to you. During the festive season, what can be more exciting than being able to spend money where you want? Whether it is for travel or shopping consumables, there are so many ways to utilize the funds obtained through a personal loan. 

Let us take a look at the benefits of a pre-approved personal loan. This will help you take advantage of the ongoing offers during the festive season.

Benefits Of Taking A Pre-Approved Personal Loan 

During the ongoing festive season, you can take advantage of several offers. Banks and lenders are more willing to help you meet your financial goals during this time. And, to encourage you to opt for loans, they deliver many offers. Here are some benefits of taking a pre-approved personal loan from a bank around this time. 

No Collaterals 

There is no need to lock your assets with the bank. Unlike other loans such as a home loan or car loan, you need not mortgage anything to get approval for the loan. This means greater financial independence for you. You can continue to use your assets without any restrictions. 

No Usage Restriction 

You can use the approved loan funds for any reason you want. It could be paying for a vacation or meeting utility expenses. There is no restriction on how you can use these funds. You may be able to get a good offer on these funds as well. 

Instant Approval 

It takes very little time for a pre-approved personal loan before the funds effectually get transferred into your account. As soon as you meet your basic eligibility, you can get approval for the loan from the bank. Most lenders run multiple offers on their loan products. This frequently happens during the festive season. 

Beneficial For Short Term 

You can get a pre-approved personal loan for a short period. Based on your requirement, you can get the loan for a few months or a few years as well. But remember that you will have to repay the loan amount in the tenure chosen by you. 

Why should You Take A Personal Loan During This Festive Season? 

The flexible end use of a pre-approved personal loan is not the only reason why it is favourable. You can use the loan to meet the expenses that stand during the festive season. You can get a loan for an amount that is suitable for you. So, it is possible to plan your expenses and decide upon an amount that will meet them conveniently. You can get very attractive rates on interest on such loans. 

Things To Consider When Borrowing A Personal Loan During The Festive Season

Before deciding to get a pre-approved personal loan during this festive season, you should consider a few factors. 

  1. Most lenders are willing to offer a loan to those who have a credit score above 750. Your application for a pre-approved loan may get rejected if your credit score is below that. If you want to benefit from ongoing offers, make sure that your credit score is in a healthy range. 
  2. Always remember to borrow only the amount which you require. Anything in excess will only add to your financial burdens. No matter how tempting the offers may be, it is best to borrow only up to a certain limit. 
  3. Always check your eligibility for a personal loan. When you apply for a loan and your application gets rejected, it adversely impacts your credit score. You may not be able to apply for a loan for some time after that. 
  4. Compare different lenders before zeroing in on any one provider. During the festive season, many loan providers will be willing to offer different deals. Make use of the one that suits your requirement the most. But always consider and check your ability to repay the loan. And avoid falling into a debt trap. 
  5. It is best to avoid applying for a loan from many providers at once. This may lead to the rejection of your loan. Every application for a loan gets lodged into your credit score report. So, be wary of applying for too many loans at once. 


Applying for a pre-approved personal loan during the festive season is a good option. During this time, you can get many attractive deals and offers on the loan amount. It is a good idea to enjoy the festivities without facing any financial constraints. But remember to borrow smartly and repay the loans in due time. For many such attractive offers, do check out Piramal Finance, which is the leading destination for the best borrowing options. You can get extensive knowledge of many different financial offerings on the platform. Also, you can use their accurate online loan calculator. Additionally, you can also browse for different loan options to suit your requirements. Browse the website for a lot of financial offerings.