How a Personal Loan Can Help You this Christmas?

Christmas is the perfect time to let your hair down and celebrate the season of giving. Having said that, this popular sentiment of the celebration involves splurging on gifts, decorations, parties and more. It can definitely be an expensive affair. Not financially planning this month of celebration in advance may result in a lot of sleepless nights and anxiety.

What is a Christmas Loan?

To tide over these short periods of fund deficiency, lenders now offer a personal loan for Christmas. You can give your holiday plans a boost through the funds and take them to a new level - including organizing a family vacation, holiday shopping, home renovation, or more.

Just like any other personal loan, the holiday loan is a hassle-free method that gives you access to instant money. As a matter of fact, you can access the funds to finance all your expenses for the year-end festivities.

The idea is not to go over the top with the debt. Instead, you should only apply for a Christmas loan amount that sufficiently covers your expenses during this period. Ensure that the additional debt that you take on is well within your financial capacity to repay back to the lender. This will help you be in alignment with your overall financial budget for the coming months.

How a Personal Loan Can Help You this Holiday Season?

Your personal loan for the holiday season is your gateway to having a blast this party season. Here’s how the funds can help you:

1. Access to Immediate Funds:

SMFG India Credit offers personal loans for up to Rs. 25 lakhs* to eligible applicants at affordable rates of interest and flexible repayment tenures between 12 to 60 months. Thus, you can opt for a personal loan amount that suits your monetary needs.

You should ensure that your existing EMIs including credit card bills are not more than 50-60% of your monthly income, to avoid rejection. This form of budgeting is important as it determines your repayment capacity accurately and helps to get the loan sanctioned quickly.

Before applying, make sure you use our personal loan eligibility calculator to check the maximum amount you can get.

Must Read: Make Your Vacation Into a Dream Holiday with a Personal Loan!

2. Additional Cash for Unforeseen Expenditures:

The holiday season brings with it a lot of unexpected expenditures. While the ideal way would have been to finance these add-on expenses with a salary bump or year-end bonus, in the majority of cases, these events never happen at the same time. Therefore, a personal loan for Christmas is the perfect way out to tide over this short-term cash crunch and handle any emergency requirement easily.

With personal loan interest rates starting from 13%, combined with flexible repayment periods, availing of a holiday loan from SMFG India Credit is the most convenient way to address your need for immediate funds this festive season.

3. Grab The Best Deals, Discounts and Promotions with The Money:

December is that time of the year where you will find attractive discounts and deals offered by multiple online platforms and offline retail outlets. Instead of paying full price for the same items, you can shop to your heart’s content.

Thus, it could be a smart move to avail of a personal loan during the holiday season to get your shopping done at a cheaper rate. If you are concerned about the monthly installments, simply use our personal loan EMI calculator to get an accurate estimate of your repayment obligation. 

4. A Responsible Way to Prevent Borrowing More than What You Need:

Availing Christmas loans from SMFG India Credit is an affordable way to meet your needs for short-term funds. Moreover, personal loans require no collateral to be put up against the amount that you seek to borrow. This also ensures that you are able to keep your monthly installment figures well within your means of repayment and can be conveniently paid off within a 12 to 60 month period.

Needless to say, if you need anything over Rs. 30 lakhs, you will have to opt for other types of loans such as a loan against property or a loan against securities.

For many, borrowing through personal loans during the Christmas season may not be the ideal choice for accessing funds. Having said that, it is the perfect financial solution to fulfill any holiday aspirations or handle an unexpected emergency situation.

Apply today to know more.

*Terms and Conditions apply.