Personal Loan

Most Popular and Easy Ways to Get a Personal Diwali Loan This Diwali


Diwali is a holiday that commemorates more than the triumph of good over evil. It also celebrates the arrival of a prosperous new year. People across the country buy clothes, jewellery, and gifts to celebrate this occasion. Many people use the event as an excuse to buy furniture, a new car, or finish up some much-needed home repairs.

Spending on all the festivities can be difficult if you only have low savings. A personal Diwali loan is the easiest method to fund all your dreams this Diwali! A Diwali loan is a type of personal loan and has all the benefits of this loan category!

The Most Popular and Easy Ways to Get a Personal Diwali Loan This Diwali

The process of obtaining a personal Diwali loan can be broken down into five easy steps. The following section explains everything you need to know about a personal Diwali loan. This includes the paperwork you’ll need and the application process.

Step 1: Figure out your requirements.

What are your reasons for wanting a personal Diwali loan? You need to calculate the exact amount you will need. A loan could come in handy if you need money for an expensive event like a wedding or house improvements. On the other hand, if the loan is just for small expenses, you may only need Rs. 50,000. Therefore, calculate the total amount you need.

Step 2: Find out if you qualify for a Diwali loan.

You should see if you qualify for the funds once you have determined how much you need. Both self-employed professionals and salaried individuals can apply for a Diwali loan.

Salaried individuals working in government institutions, the private sector, partnership firms, MNCs, or related companies can apply. Furthermore, your age must be between 21 and 60 years old. Some lenders also ask for a minimum income. Therefore, you must earn at least Rs. 15,000 to avail of a Diwali loan.

Additionally, some lenders also have work experience criteria. For example, you can only qualify for a personal Diwali loan if you have worked at your current company for six months or if your business is two years old or older.

Step 3: Calculate your EMIs.

Use an EMI calculator online to estimate how much money you will need to pay back per month on your loan. With it, you can adjust the monthly payment to better fit your budget.

Step 4: Talk to the lender.

The next step in the application process is to visit the lender. You can also connect with them online. The idea is to discuss the terms you are looking for. You can also ask about their additional charges, such as processing fees. This will help you understand the process.

Step 5: Check and submit the paperwork.

Gather the paperwork needed for a personal Diwali loan. Bank statements, pay stubs, or tax returns are all income proofs. Also, you have to submit a government-issued photo identification.

For a Diwali loan, you have to submit the following documents:

  • PAN Card
  • ID Proof
  • Address Proof
  • Income Proof
  • Bank statements
  • Pay slips

How can a Diwali loan help you?

1. You can get high loan amounts without security.

A personal Diwali loan has a high borrowing limit of Rs. 10 lakhs. Plus, you can get this amount without putting up any security or collateral. This is the best feature of personal Diwali loans. You need not provide any of your assets as collateral.

Anyone can avail themselves of this loan. Since you do not need to provide collateral, you can apply for this loan even if your income is low. You can qualify for the loan if you meet the lender’s minimum criteria and have a good credit score.

2. The application process is online.

During Diwali, everybody is busy with other chores. So applying for a personal loan might be challenging. You can submit loan applications online. Online loan applications are quick and easy. They need only a few clicks. You can submit all documents online. Most lenders accept digital photographs as well as scanned copies. Therefore, you can upload the document to the portal and get it approved.

3. A personal loan can cover unexpected costs.

Diwali is the season of unexpected expenses. When you apply for other types of loans, you are restricted in how you spend the money.

You can use a personal loan whenever you want. Personal loans have low interest rates, flexible repayment plans, and speedy application procedures. Hence, personal loans can be a lifesaver during Diwali.

4. You get quick funding and rapid approvals.

In most cases, you do not need to provide any assets as collateral. Therefore, the process of asset evaluation is void. Personal loans have faster processing times. So, you can get a personal loan for Diwali without hassle.

Also, suppose you apply for a personal loan from a reputable lender. In that case, you can expect to receive the funds instantly. You will get the money within 24 hours after approval. This allows you to access instant funds without worrying about waiting periods.


Personal Diwali loans are a convenient way to cover Diwali expenses. Their low interest rates, flexible terms, and fast disbursement are an advantage. If you are looking for a quick loan with a straightforward process during the festive season, Diwali loans are ideal.

You can get personal loans from Piramal Finance for up to Rs 10 lakhs at interest rates as low as 12.99%. Personal loans have flexible repayment periods of 12 to 60 months. It means you can choose an EMI that fits your budget.

Get a personal loan from Piramal Finance to help pay for all your Diwali plans and purchases.