Personal Loan

Get Your Home Renovated This Festive Season with a Personal Loan


People hold celebrations and give and receive gifts during the festive season. It is also seen as a good time to make big purchases like buying a new car, jewellery or tech gadgets. A lot of people also want to renovate their houses right before the holidays to add some brightness to the festivities. But, fixing up a home can cost a lot of money. Fortunately, banks offer reasonable interest rates and can even help people get a festive loan online during the holidays.

A home that looks nice and is built well is a source of comfort and satisfaction. Guests will also have a good impression if a house is well-built and well-kept. With the holidays coming up and events underway, there is a general rise in house renovations. With affordable festive loans, people can redecorate their houses with easily-accessible finances. A personal loan is frequently used by people for home improvements.

What are the Pros of Getting a Festive Loan?

It can cost a lot to make changes to your home right before a big event or festival. During the festival season, people have to worry about more than just the cost of home renovations. They also need to make purchases for giving gifts, holding large gatherings and buying new clothes. Along with the costs of remodelling their home, these extra holiday expenses can make a dent in a person’s budget or force them to cut back on their overall spending. Dealing with these financial problems is made easier by getting a personal loan.

Applying for a personal loan can help people afford to make their house the place of their dreams during the festive season. With the finances from a personal loan, they can afford to purchase multiple items from fresh paint to new furniture. Here are some of the best reasons to get a festive loan around the holidays:

  1. Offers and Deals 

People often wait for the festive season to start before they begin their purchases. This means more people are shopping during the festival season. Lenders offer low interest rates and other advantages to attract customers. For example, some lenders do not even charge fees to process loans. This makes it possible for the borrower to get a personal loan at a much lower cost. If someone wants to save while upgrading their house, they can take advantage of these, and other, festive season deals.

  1. Festival Budget Increases

Personal loans are easier to get during the festival season because of the special deals and low interest rates. So, those who need loans can make their money go a little further. They will not have to choose between buying a brand-new sofa set or a smart refrigerator. Because of the opportune loan conditions during the festive season, they can buy both.

  1. Easy Applications and Repayment 

Most festive loans are paid back over 5 years or so. As people have more time to repay the loan, the EMI is also easier to handle. Many lenders will not charge people a fee if they repay their loans early. So, for those who want to repay their debt before the 5-year period is over, they can easily do so without worrying about penalties. But this clause is different for each loan provider, so the borrower should check if they will be charged a fee for repaying their personal loan early.

Most of the time, a person can get a home renovation loan to help pay for home improvements. This loan has a reduced interest rate, but it can take 10 to 15 days to collect the money. On the other hand, if someone meets the requirements, they can get a personal loan right away and begin their home renovations at the time they desire.

Features of Personal Loans

These are the features and characteristics of a personal loan:

  • No Collateral

There is no need to provide security for a personal loan. Your CIBIL score and income will be enough for banks to decide if you can get a personal loan.

  • Different Uses

A personal loan can be used for many different things, unlike a home loan or a car loan, which can only be used to buy a house or a car, respectively. A person can get a personal loan to renovate their house or pay for unforeseen expenses. The lender does not limit how someone can use the money from the personal loan.

  • Easy Paperwork

It is easy to get a personal loan right away with an online application. A long and complicated process is not required for a personal or festive loan. One can get a personal loan almost immediately by showing the appropriate documents on income, address and identification. The money from the loan will be sent to their account within three to four business days, if not sooner.

  • More Money

With a personal loan, one can borrow anywhere from Rs. 20,000 to Rs. 50,00,000. So, a person can be sure that their insurance will cover even expensive home improvements that involve building work. The amount of the loan someone gets depends on their CIBIL score, monthly income, age, employer’s reputation and other factors.


A festive loan is a great way to get the money you need for home improvements. A festive loan can also help you pay for all of your other festival expenses in addition to your home renovation. During the festival season, banks offer special deals to help people apply for a personal loan. That is why a personal loan with a low interest rate is the ideal option for people in need of funds during the festive season. Keeping the festive loan in mind, Piramal Finance can help people get access to the finances they need during the holidays.