The holiday season is fast approaching, and with Christmas almost around the corner, you know what it means- it’s gifting season! Short on funds this year? Why dull the Christmas cheer when you can easily get a personal loan for all your gifting needs!
Yes, a personal loan can ease your financial burden upfront. But more importantly, it can help you buy the most-awaited presents, without burning a hole in your pocket.
Here’s why you should get personal loans for Christmas if you’re going on a gifting spree.
1. No collateral requirement
When playing Santa, you don’t want to risk your finances to buy presents. The best way to ensure this is by having an instant source of funds- like a personal loan.
Unlike other forms of borrowing, a personal loan is an unsecured loan. So, getting one doesn’t require you to deposit your assets as collateral. Of course, all you need to do is fulfil flexible personal loan eligibility terms and submit paperwork to access your funds.
Additional Read – Why You Should Take a Personal Loan This Festive Season
2. Greater control over your finances
It’s easy to get carried away with gift shopping, especially with a credit card in hand. And it is equally easy to go over your credit limit and fall into a debt spiral with interest adding up every month.
Hence, if you identify yourself as a quick spender, get a personal loan instead. Since these are stipulated amounts disbursed by the bank, there’s no risk of overspending. Moreover, the personal loan interest rates remain fixed for the loan tenure. So, you know exactly how much you’ll pay every month, meaning you have greater control over your funds.
3. Flexible repayments
Most lenders offer flexible repayment tenures on their personal loans. In other words, you can choose the term of your loan depending on the EMIs payable for the period. For instance, a shorter loan term means you need to pay a fewer number of EMIs, but a larger EMI amount. This also reduces the total interest payable on your loan.
Besides, you can plan a budget for your repayments. Get started right away by using an online personal loan EMI calculator to estimate your EMI amount.
4. Quick approvals and disbursals
With just a few weeks left for Christmas, you surely want to buy gifts as early as possible. So, if you’re getting a loan to finance your purchases, you might be worried about the long loan processing duration. Not with a personal loan. Most lenders offer minimal processing times and quick disbursals on these loans. Hence, you can get one even for those last-minute shopping sprees.
Additional Read – Top 5 Stays for Christmas in India: Where to Travel this Festive Season
Given that personal loans offer you greater control over your finances, with flexible repayment options, and quick disbursals, there’s no reason not to get one for Christmas gift shopping.
Tata Capital offers bespoke loans at competitive personal loan interest rates suited to your needs. What’s more, we extend flexible repayment terms for a comfortable borrowing experience. Visit our site to learn more.