Personal Loan

How To Apply For a Personal Loan During The Festival Season?


The Festival season is a time when presents and sweets are shared. It is also a time when offers come in from all directions. Banks make many attractive loans and credit card offers throughout the festival season. A personal loan will help you to make purchases if you run out of cash during the festival season. Most lenders give their clients specialised loan products under various names. You have the option to select the best loan package based on your needs. The incentives take the form of lowered fees, waived processing charges, reduced interest rates, etc.

Looking for an instant online personal loan during the holiday season? Just adhere to the instructions below.

How To Get an Instant Personal Loan

Here are a few steps to get an instant personal loan:

Step 1: Research the market

Throughout the holiday season, several lenders offer exciting instant online personal loan offers with great interest rates and flexible terms. You have to look around to find a good deal. Before choosing a lender, compare them all, including their eligibility requirements, interest rates, and other factors.

Finally, to get an instant personal loan, be sure to apply as soon as possible.

Step 2: Verify the prerequisites

Narrow down the search. Check to see if you meet the lender’s requirements for instant online personal loans. Lenders often check your eligibility based on your age, work status, credit score, and annual income. If anything is unclear throughout the research phase, seek clarification.

Step 3: Keep your papers organised

Amid festival season, are you planning to fill out a loan application? Make sure you have all your paperwork ready, including your ID, proof of address, bank statements, salary slips, employment certificate, etc.

This will ensure a hassle-free application process and save the added stress of having to search for loan documents in the middle of a party.

Step 4: Complete the online application form

Finally, complete the loan application. Lenders provide both online and offline application options, so select the one you are most comfortable with.

Submitting an instant online personal loan application makes the procedure convenient. After all, you can submit the application without physically going to the banking institution. Submitting an online loan application also reduces the amount of time you must wait for the process. The loan money is disbursed instantly and directly to your account after approval. It’s that simple!

Why Should You Take an Instant Online Personal Loan During the Festive Season?

Festival loans are unsecured. These loans are primarily used by borrowers to buy appliances and home needs. Smaller ticket loans are now available. So, more people are going for credit each year. The following are a few of the crucial services offered by festival loans that draw a sizable customer base:

  • Flexible Use: How you use the money you get from an instant online personal loan is completely flexible. It is not like a home loan or a car loan with strict guidelines.
  • High loan amount: Banks provide instant online personal loans starting at Rs. 25,000 and going up to Rs. 40 lakh. Thus, you can pay for a variety of personal expenses with a single personal loan.
  • With no collateral: Since a personal loan is an unsecured loan, you will not experience any added stress from having to hold collateral with the bank over the holiday season.
  • Repayment flexibility: You have flexibility in how you repay the instant online personal loan. You can choose the payback period, which typically ranges from 12 to 60 months.
  • Simple to apply: You can apply for an instant online personal loan from the convenience of your home or place of business because banks are becoming digital. Also, you can upload all your documents online, and if approved, the money is automatically transferred into your account, eliminating the need for a bank visit.
  • An appealing interest rate: A personal loan’s interest rate begins at 10.25%. However, the interest rate that the bank would offer will depend on the person’s credit rating, age, income, etc.
  • Discounts & Promotions: During the festival season, more people borrow money, thanks to alluring offers like cashback, processing fee waivers, waived prepayment fees, no-cost EMIs, etc. You can save a lot of money if your purchase requirement coincides with the festival deal.

Different Ways to Apply for an Instant Online Personal Loan

Mobile Applications

Each lender offers a mobile application with user-friendly features to submit a loan application. Simply download the application to your phone to start the festival loan application process.


To apply for the loan of your choosing, go to the lender’s official website. You might need to fill out a form with your contact details, income, and personal information. Your bank account will receive the funds following lender approval.

Portals run by third parties 

These websites work with the lender to negotiate the best terms for your festival loan. You can apply for the loan of your choice by visiting their official website. The advantage of applying to a third-party website is that you can select from a large selection of items from numerous lenders.

E-commerce portal

You can browse the loan alternatives while making an online purchase through e-commerce sites in the checkout section. You have a choice of the lender and associated EMI. The lender will pay the merchant after receiving further permission. As stated in the contract, you can refund the debt.


Need money this new year to renovate your home? Or maybe to buy new jewellery? Taking up a personal loan over the holiday season is a smart move since it allows you to celebrate without worrying about money. But be careful when you borrow, and make sure to pay back the money promptly. Your financial problems can be resolved by obtaining a quick loan. You only need to pick the appropriate lender, complete the eligibility requirements, provide the required papers, and submit an online application. Check out Piramal Finance for more details.