Personal Loan

Celebrate the Festive Season with a Personal Loan


Festival season is a time for celebration and joy. Nothing beats the happiness of gifting your loved ones. However, you will need funds to cover festive expenses like gifts and the beautification of your home. Do not let a lack of funds dampen the festive spirits this year.

A loan is a great option to celebrate the festivals in style. What about the hassles of applying for a loan? You are not alone in thinking loans are difficult to procure.

There are various types of loans available. Most of them are offered on collateral. Loans like housing loans, vehicle loans and business loans are offered for specific purposes. However, you need a loan that you can use as per your needs. Personal loans fit the bill here.

You can take personal loans to celebrate your favourite festivals. Personal loans can be given with or without security. This depends on your income and the amount you wish to borrow. It is easy to apply for a personal loan. It is also disbursed quickly.

There are different kinds of personal loans and different ways to get them. Various festive loans are also available during this season. Learning more about such loans will help you make informed decisions.

Benefits of Taking a Personal Loan 

Many people turn down personal loans due to their higher rates of interest. However, they also have various benefits.

Debt Consolidation

Do you have various loans? Is it difficult to manage the EMIs of all your loans? The good news is, you can use personal loans to pay off all your debts. This will also help build your CIBIL or credit score.

Offers Funds for Emergencies

You may have planned your finances well. However, if there are emergencies that require additional funds, personal loans can help you. The best part is that they are disbursed quickly without hassles.

Serves Various Purposes

The USP of personal loans is that they can be used in many ways. A personal loan can help you pay pending bills. It can fund your air tickets to celebrate festivals with loved ones. The uses are many.

Types of Personal Loans

This information should give you a good idea of how personal loans work. It is also important to understand their subtypes. Only some banks offer different types of personal loans.

Some basic types of personal loans are given below.

  1. Festive LoansThese loans are like personal loans, but more appealing. They offer great deals with lower rates of interest and no extra costs. Festive loans are offered only for a specific time of the year. These loans also have a minimum limit.
  2. Credit Builder LoansMost people use this loan to improve their credit scores. This will help them get great deals on any future loans.
  3. Debt Consolidation LoansWant to pay back a friend but don’t have the money? Consolidating debt is a great choice for anyone. This will help you repay your debts and keep your records clean.
  4. Holiday LoansHoliday loans spread the cheer! They take care of all your holiday expenses.
  5. Home Improvement Loans – A festival needs a beautiful house to decorate and entertain family and friends. It is the right time to apply for a home improvement loan. Drab walls, old fixtures and loose tiles? You can finally get all those issues fixed. This festive season, let the home shine in and out.
  6. Marriage LoansA big fat Indian wedding indeed exists on everyone’s bucket lists. Don’t let a lack of funds spoil your dreams. Apply for marriage loans and make your dreams come true. This loan will cover all the marriage expenses such as food and decoration.
  7. Vacation LoansExpenses for a vacation come with an endless list. This loan will cover everything from shopping to ticket bookings. Now you can heave a sigh of relief! You can relax and have a great time on your vacation. 

Role of CIBIL Score in Applying for Personal Loans

CIBIL stands for Credit Information Bureau (India) Limited. This score will tell the lenders how reliable you are. This is based on your history of credits.

The CIBIL score is a vital part of getting a personal loan. Banks use the CIBIL score to decide whether or not to give a loan. CIBIL score ratings can range between 300 and 900. A score above 750 will help you get deals on loans.

Most of these loans do not need mortgages and are not secured by assets. Hence, the CIBIL score is very important for building a lender’s confidence.


Festivals come with a lot of expenses. Lack of funding may prevent you from enjoying your festivals. Celebrate festivals in style with personal loans. Some banks may also offer festive loans to celebrate festivals.

Personal loans are great for paying off or settling pending expenses. The best part about personal loans is that they do not require collateral and will be disbursed quickly. They also require less paperwork.

Personal loans can be used for various purposes. You can use the amount for buying gifts or repairing homes. You can use it for holidays or pay off debts. Another option is to consolidate all your debts with a personal loan. Personal loans are an excellent option for resolving financial problems. The scope is endless.

You can make informed decisions with adequate research. Visit Piramal Finance for more information on festive loans. Piramal also has information on a wide range of related topics. You can learn more about various services offered by Piramal. This will help you manage your finances with ease.