India is a land of many cultures. Therefore, it is unsurprising that diverse festivals are celebrated all year round and are an integral part of Indian society. However, with time and inflation, celebrations are becoming increasingly expensive daily. Does this compromise harmonious togetherness due to the lack of funds? Yes, sometimes it does. Therefore, Piramal Finance now offers a Festival Loan to ensure every festival is celebrated joyfully and grandly.
Features and Benefits of a Festival Loan
Competitive Interest Rates
Festival Loans are offered at competitive interest rates that start at 12.99% p.a. These rates are often based on the customer's profile and convenience.
Loan Amount & Loan Limit
You can avail of a Festival Loan between ₹ 25 thousad to ₹ 5 Lakh.
Flexible Loan Tenure
The repayment tenure for a Festival Loan can go up to 60 months. This ease and flexibility make it easier for borrowers to manage their finances.
Easy Documentation
Piramal Finance offers an easy and hassle-free documentation process. You can now apply for a Festival Loan and submit all your documents within seconds via our online portal.
Quick Disbursal of Funds
We understand your need for immediate funds and provide you with a speedy process; where once your loan is approved, the funds are disbursed within seconds.
What is a Festival Loan?
It is a type of personal loan offered to individuals and is designed to meet any festival-related expenditures that may arise. To avail of this loan, you must be eligible and submit certain documents just like you would for any other personal loan.
Eligibility Criteria for a Festival Loan
The eligibility criteria set for a Festival Loan are simple and make the entire loan journey hassle-free:
- Citizenship
- To be eligible for a Festival Loan, you must be an Indian Citizen.
- Age
- You must be at least 21 years and a maximum of 58 years.
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Employment Status:
- You must be employed in the country's public or private sector.
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Monthly Income
- You must have a minimum income of ₹ 15,000 to be eligible for a Festival Loan.
Documents Required for a Festival Loan
This table outlines all the documents required:
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Labels:
- Document Type
- For Salaried Individuals
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Row 1:
- ID Proof
- Aadhaar card, driving license, passport, pan card, voter id
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Row 2:
- Residence Address Proof
- Aadhar card, voter id, utility bills, driving license
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Row 3:
- Office Address Proof
- Not applicable
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Row 4:
- Income Proof
- Bank account statement of salary account, salary slip of the last three months, form 16
Documents Required for a Festival Loan
This table outlines all the documents required:
How to Apply for a Festival Loan from Piramal Finance?
You can apply for a Festival Loan from Piramal Finance by following a few simple steps:
Step 1: Apply for Instant Loan
Step 2: Enter Pan Card Details
Step 3: Complete KYC Verification
Step 4: Update Bank Account Details
Step 5: Enter the Work Information
It is a type of personal loan offered to individuals and is designed to meet any festival-related expenditures that may arise. To avail of this loan, you must be eligible and submit certain documents just like you would for any other personal loan.
What are the applicable fees and charges for Festival Loan?
Some standard fees and charges are as follows:
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Labels:
- Personal Loan Features & Fees
- Details
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Row 1:
- Personal Loan Interest Rates
- {plintrestrate}* p.a. onwards.
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Row 2:
- Loan Amount
- ₹ 25,000 to ₹ 5,00,000.
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Row 3:
- Processing Fees
- Up to 5% plus applicable taxes.
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Row 4:
- Loan Tenure
- 3 - 60 months
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Row 5:
- Prepayment Charges
- ₹ 0
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Row 6:
- Foreclosure Charges
- ₹ 0
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Row 7:
- Stamp Duty
- At actuals (as per state)
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Row 8:
- Cheque Bounce Charges
- ₹ 500 plus applicable taxes
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Row 9:
- EMI Bounce Charges
- ₹ 500 plus applicable taxes
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Row 10:
- EMI Pickup/Collection Charges
- ₹ 250 per visit plus applicable taxes
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Row 11:
- Change of Loan Repayment Mode
- ₹ 500 plus applicable taxes
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Row 12:
- Loan Cancellation after Disbursement
- Interest accrued & due plus applicable taxes
What are the applicable fees and charges for Festival Loan?
Some standard fees and charges are as follows:
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Frequently asked questions
It would be best if you chose Piramal Finance Festival Loans because they offer the following:
- Competitive Interest Rates
- Easy Documentation
- Flexible Loan Tenure
- Flexible Repayment Terms
- Quick Approval & Disbursal
- Credit Clean-up: You can improve your eligibility by increasing your credit score. A higher credit score makes you a reliable borrower.
- Rebalancing your income and debts: Your income-to-debt ratio helps determine the portion of your income that gets contributed toward covering your debts. A low income-to-debt ratio can make you more eligible for an instant loan.
- Limit Your Borrowing: If you have too much debt, lenders will see you as a risky borrower. If you plan on taking an insta loan, try repaying your existing loans first.
- Choose the Right Lender: Choosing the right lender is the key and working with a lender like Piramal Finance increases your chances of receiving instant loan approval due to our less rigid criteria.