Home Discover Journals How to Use a Personal Loan to Reduce Your Financial Pressure This Festive Season

How to Use a Personal Loan to Reduce Your Financial Pressure This Festive Season

By Finserv MARKETS - Jul 26,2019
Views Icon226 Views 0 0 Comments

How To Use Personal Loan To Reduce Financial Stress During Festivities

Festive seasons are opportunities for beginning afresh. Many festive seasons are considered as an auspicious setting for starting a new business venture or making a new purchase. Hence, during these times, you might want to invest in a new home, buy a new car, invest in gold or buy a new gadget.

As a matter of fact, most people utilize their savings or make use of credit cards for these purchases. Credit cards generally aren’t a good option to use for such spendings because they come at a very high interest rate. Also, the savings which might be kept for future financial needs will be exhausted because of these festive season spendings. This will take a toll on your finances

So, how to reduce financial stress? What if we tell you that there is an alternative to this?

Instead of digging in your savings or using your credit cards, you can simply avail a personal loan. A personal loan is a type of unsecured loan wherein you do not require any collaterals. By availing a personal loan, you can get the required amount quickly and with very competitive interest rates. They are easy to avail and thus could be used to meet you festive expenses without any financial stress.

Here’s why taking a personal loan will help reduce your financial pressure.

  • No Collaterals Needed

  • No Collaterals Needed

  • Flexible Repayment Plans

  • Provides EMI options

  • Offers Low Down Payments

1: No Limitations on End-Use

When seeking car loans, education loans or home loans, the loan amount needs to be utilized for the said purpose. With unsecured loans, lenders do not question the end use of the amount. Hence, this loan can be utilized for purchasing gifts for your friends and family this festive season or go on trips.

2: No Collaterals Needed

Like mentioned above, unsecured loans do not require collaterals as security when availing the loan amount. In other words, you do not lose ownership of any of your assets in case you are unable to repay the loan amount.

3: Flexible Repayment Plans

Most lenders offer bespoke repayment plans which further offer high flexibility to their clients. Some of these plans include balloon plans, step-up plans, step-down plans, and bullet flexi plans.

4: Provides EMI options

When you avail a personal loan, you can repay the loan amount in installments. Look for loans with EMI options when applying for a personal loan. This thus will reduce the financial burden on your monthly expenses.

5: Offers Low Down Payments

You can simply opt to make a minimum down payment, while the remaining amount can be paid throughout the tenure of the loan. This way, you can keep track of the budget. Moreover, it will reduce your financial strain big time.

The Bottom Line

Are you still wondering how to avoid financial stress? Availing a personal loan is an answer to your distress. Instead of increasing your financial burden by using your credit cards or your savings, you can simply avail personal loans online.

Get in touch with us at Finserv Markers and benefit from features like low EMI and minimal documentation. In fact, the loan application is approved in under 3 minutes and the loan amount is credited in your bank account within 24 hours. Also, the loan solutions offered are bespoke to your requirements.

What else do you want? Apply for Bajaj Finserv Personal Loan with us, today!

Finserv MARKETS, from the house of Bajaj Finserv is an exclusive online supermarket for all your personal and financial needs. Loans, Insurance, Investment and exclusive EMI store, all under one roof- anytime, anywhere!

Comments

Connect with Us
Connect with Us

Bajaj Finserv Direct Limited ("BFDL"), erstwhile Bajaj Financial Holdings Limited is a registered corporate agent of Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited under the IRDAI composite registration number CA0551 valid till 10-Apr-2021. BFDL also renders services to Bajaj Finance Limited (‘BFL’) and Bajaj Housing Finance Limited (‘BHFL’) (referred hereinafter as ‘Lending Partner’) in sourcing of customers, providing preliminary credit support activities, fulfilment services and post-acquisition customer services related to lending business. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522