Long gone are the days when you needed to stand in queues at the lender’s branch or have to wait for hours on end to start the loan process.
With Diwali just around the corner, the time for celebrations is upon us. This is the season to achieve your goals, and you can do just that with an online personal loan. Loaded with features, these funding tools are easy to avail of. What’s more, you can access promotional personal loan interest rate offers, and these can help you access funds affordably.
To know how an online personal loan can help you make this Diwali one to remember, read on.
1. Easy access to money online
With an online personal loan, accessing the money you need is easier than ever. Long gone are the days when you needed to stand in queues at the lender’s branch or have to wait for hours on end to start the loan process. Now, within just a few clicks, you can get access to an online personal loan.
All you have to do is fill an online form, upload documents, and you’re done. The entire digital process takes just a few minutes and is very easy to complete. Some lenders even have mobile-friendly sites and apps, allowing you to borrow funds no matter where you are. Online personal loan provisions are features you can enjoy today, and you should take advantage of them to enjoy a quick and easy borrowing experience.
2. Collateral-free funding option for hassle-free processing
Amid the hustle and bustle of Diwali, you may not have the time or the energy to spend on tedious financial processes. This is a problem you can encounter if you opt for a secured loan, wherein you’ll have to pledge an asset as collateral. An online personal loan, however, eliminates such hassles as it is an unsecured offering. You don’t need to pledge any assets to qualify, which makes borrowing funds a lot easier.
3. Simple requirements and minimal paperwork
Leading lenders have made acquiring an online personal loan even easier this Diwali. Besides being a collateral-free offering, many lenders will now have basic criteria only. These will mainly assess your age, annual income, credit score, employment, and citizenship.
Further, you don’t have to worry about submitting a tedious list of documents either. Lenders that offer an online personal loan are likely to require essential paperwork only, and some may even have a paperless provision! Look for lenders that have lenient requirements, as this greatly simplifies access to funds this Diwali.
4. Instant loan approval and disbursal features for urgent expenses
As the celebrations commence, you’ll find a lot of offers and special limited deals being launched across a range of retailers. Many of these last just a few days, and the potential savings are enormous. This is especially true for offers on big-ticket home appliances like washing machines, televisions, air conditioners, or other electronics like smartphones. An online personal loan helps you secure these deals quickly without draining your savings. Certain leading lenders have special loan features which can guarantee expedited access to funds.
Depending on the lender and your financial profile, you can get instant approval on a personal loan. Apply online, submit the documents, and get approval in just a few minutes. To complement this feature, lenders also offer quick disbursal, wherein the entire approved sanction is disbursed to your bank account in just a few hours. No matter the urgent expense, with the right lender, you can get funds in no time.
5. No restrictions on usage, perfect for festive spends
Unlike other funding options, the sanction from a personal loan can be used without any restrictions. You can use it freely and meet any expense. This type of freedom is necessary during Diwali, as you could need money for a wide range of expenses. Be it a two-week getaway to a tropical destination, a special family event at home, house renovations, education tuition, or any other big-ticket expense, handle it all with ease.
6. Seasonal personal loan interest rate offers
Like retailers, brands, and service providers in the market, lenders also launch seasonal offers during Diwali. At this time, you may get an online personal loan at a much lower rate, making it a lot more affordable to borrow. Seasonal personal loan interest rate offers are some of the best rates you will find throughout the year.
With proper planning, you can achieve your financial goals and save money too! To know exactly how much you stand to save, use a personal loan interest calculator. Leading lenders offer this digital tool on their website, and you should use it to extract maximum value from your loan.
7. Lengthy, customisable tenor to suit your capabilities
Availing of an online personal loan this Diwali is smart because you can stay financially healthy long after the celebrations are over. This is because you don’t have to bear the brunt of hefty payments and only have to pay a pocket-friendly instalment every month. Some lenders even offer a repayment window of up to 60 months, allowing you to find an affordable monthly payment. You can find EMIs that are easy to manage by using the EMI calculator.
With these pointers in mind, the right online personal loan this Diwali can help you make the most of it. One great option you should consider is the Bajaj Finserv Personal Loan. With it, you can get up to Rs. 25 lakh without any collateral and enjoy a wide range of online loan features for a comfortable experience. To ensure you don’t have to compromise this Diwali, Bajaj Finserv offers instant approval within 5 minutes and disbursals within 24 hours* of approval.
To enjoy these benefits and much more, check your pre-approved offer for a hassle-free experience.