How a Quick Personal Loan Can Enhance Your Festive Shopping Experience

A personal loan is a versatile financial tool for handling unexpected expenses, offering quick access to funds. If you are looking for flexible loan options, make sure to consider IDFC FIRST Bank’s FIRSTmoney, a smart personal loan that offers loans of up to ₹10 lakh with instant approval. Read on to learn more about FIRSTmoney and the benefits of using such loans to take care of festive expenses.

Benefits of using a personal loan for festival shopping
 

There are three key benefits of using a personal loan for festival shopping:

1. You can conveniently access funds and use them for any purpose:
   

You can use your instant loan to purchase gifts for your family and friends or to meet any other short-term financial requirement without requiring any permission from the bank. Furthermore, banks like IDFC FIRST Bank offer you convenient methods of accessing smart personal loans to finance all of your festival shopping, that includes home renovation loans as well.


2. Banks do not require you to pledge any collateral:
   

One of the most beneficial features of personal loans – which is the reason they can get disbursed without any delays – is that they do not require you to pledge any collateral. You do not have to pledge any prized asset as collateral during the festive season if you wish to opt for a personal loan for festive shopping. Need funds for a festive getaway? Consider a FIRSTmoney digital personal loans to explore off-the-beaten-path destinations.


3. You can choose from flexible repayment tenures:
   

You can benefit from flexible repayment periods while repaying your instant loan. IDFC FIRST Bank’s FIRSTmoney smart personal loans include flexible repayment periods that start from 2 months and go all the way up to 60 months. Also, you do not have to incur any foreclosure charges for prepaying your loan. 

Tips for managing your festival loan wisely
 

Here are some points you must keep in mind to manage your festival loan wisely:

• You must budget wisely to ensure that you opt for the right loan amount and tenure.
• You should avoid overusing your credit cards during the festive season.
• Repay your EMIs regularly and if necessary, use the ‘Autopay’ feature on the IDFC FIRST Bank mobile banking app to automate your EMI payments.

Process of applying for a FIRSTmoney loan:
 

Applying for FIRSTmoney smart personal loan is a breeze. Here are the six easy steps:

1. Start by scanning the QR code or clicking loan from your smartphone
2. Register using your mobile number and confirm basic/personal details to check your eligibility
3. Choose your loan preferences, including the tenure and repayment terms 
4. Link your bank account where you wish the funds to be disbursed
5. Complete the video KYC verification process with your physical PAN card

Quick personal loans can help you cover all your shopping-related expenses during the festive season. Before signing up for a personal loan for festive shopping, you should check the loan’s interest rate, whether you are eligible for the loan, and its mobile banking services.