Dhanteras is a festival that is widely celebrated throughout the country. Since this festival falls right before Diwali, it is an event that people wait for with bated breath. Considering it is the dawn of the festival of lights, every Indian household dreams of purchasing something new. Be it gold, silver jewellery, home decor, or even a new vehicle. The reason behind purchasing something new is that things purchased on this day bring in prosperity.

But a loan for Dhanteras shopping can be a big frightening affair, and the final bill can quite often come as a huge shock to your system. But with a little planning and a personal loan on Dhanteras, you can assure yourself complete freedom to shop for anything that takes your fancy, without having the fear of financial loss over your head. Read on to find out more.

Why is taking a loan for Dhanteras shopping different?

Festive shopping, in general, is usually very exciting as compared to regular shopping. Not only are there attractive offers, but the sheer thrill of buying what one desires makes the whole affair exciting. But gold and jewellery shopping tops most people’s list of priorities on Dhanteras. Since the price of gold and silver largely depends on the market, it becomes very difficult to estimate how much one wishes to spend on such items. Along with that, this season of festivities comes with rising expectations.

Tips to set a Dhanteras shopping budget

The first step towards smart festive shopping is to fix a Dhanteras shopping budget. In other words, make a list of what all you wish to buy on this day. Attach an approximate value to every item on this list. Apart from personal shopping, do not forget to factor in gifts, sweets, and token gifts that you might want to buy for your loved ones.
Once you have made this list, cross-refer it with the amount that you currently have to celebrate this festival. If the amount isn’t enough, you might need to consider a Dhanteras shopping loan to bridge the gap in order to celebrate the festival without burning a hole in your wallet. This matters so that you do not end up accessing your emergency fund. A Dhanteras shopping budget is all the more important to ensure that you are not swayed by purchasing unplanned things when you’re out shopping.

This way, you also make sure that you do not touch your emergency fund. Having a Dhanteras shopping budget also makes sure that you are not tempted to buy unplanned things when you are in the shopping plaza.

Dhanteras personal loan

A Dhanteras personal loan is as simple as any other personal loan. In other words, it is a loan that you can take in order to fund your festival shopping expenses. You can think of it as an unsecured loan, the proceeds of which you can utilise at your doorstep with minimal documentation. This loan can be used not only to buy gold and silver but also any other item you wish to purchase on this day. Since jewellery is usually bought during Dhanteras, a jewellery shopping loan enables you to pay back the amount in small and easy instalments.

Loan for Dhanteras shopping

Some of the primary reasons why people prefer a personal loan for Dhanteras shopping are:
  • A personal loan helps you retain your emergency fund.
  • Your shopping list can be paid off in easy instalments.
  • With an instant personal loan, you can get the money right away and pay for your shopping.
  • You can also ensure that you have a healthy backup in case of any emergency.
  • A jewellery shopping loan can also help you buy hallmarked gold without breaking the bank.

All the aforementioned reasons can come into play only when you borrow wisely. In other words, take only as much as you can afford to repay in monthly instalments.

How can you apply for an instant personal loan online?

Applying for an instant personal loan online has become super simple, thanks to digitisation. Almost all personal loan companies have digitised the application process to make it seamless and paperless. Some of the simple steps involved are:
  • Check eligibility.
  • KYC verification: PAN, Aadhaar, and bank details.
  • View the loan amount and other details. Accept the loan offer.

The money will be disbursed in your bank account shortly after. You can download the InstaMoney app to apply for a personal loan. InstaMoney is a digital financial services platform that connects you to its lending partners on one app. As mentioned above, applying for an instant personal loan online is super simple. However, the approval of this personal loan depends on the eligibility criteria. Just keep a few important documents handy, and that’ll help you in getting an instant personal loan.

Smart shopping tips for Dhanteras personal loan

While taking a personal loan helps you keep your finances healthy in the long run, there are a few other ways by which you can reduce your annual expenses on Dhanteras shopping. Here are some of the simple tips:
  • Before making any purchase, it is essential to compare prices so that you do not get overcharged for gold and jewellery. On similar lines, it is essential to remember that making charges can also add up significantly, so it is always a good idea to negotiate that amount.
  • Stick to offers on Dhanteras shopping. Also, refrain from making unplanned purchases only because they were on sale.
  • Invest in Hallmarked Gold so that there is no compromise on purity.
  • Always keep the bills for all items purchased on this day in one safe place.

Borrowing tips

Before applying for a personal loan, it is essential to read the fine print. It is also critical to cross-verify the applicable interest rate, tenure, and all other processing fees levied on time so that you have a clear idea of the total amount that you will be borrowing. Always choose lenders that are transparent about their loan terms and conditions. It is also essential to borrow only as much as you can repay within the given timeframe. The festive season should not be a reason for skipping the monthly personal loan EMI. If personal loan EMIs are a burden, it is always a good idea to reduce the shopping list or borrow a smaller amount instead of stretching finances to meet the payments.

Smart planning always helps when it comes to a personal loan for Dhanteras shopping so that there are no financial worries at the end of the day. A personal loan, when availed judiciously, is a smart financial tool that helps one enjoy the festival without any financial worries. It is also essential to keep emergency funds aside so that they are not used for any festival shopping expenses.

Final thoughts

This Dhanteras, plan your expenses in a way that doesn’t hamper your happiness. Hence, it is essential to set aside a budget and plan accordingly. In case of a shortage, you can avail a Dhanteras personal loan to make sure your needs are met. And in case of jewellery purchases, a jewellery personal loan can help you achieve the same while keeping your savings intact.

FAQs

Can I take an exclusive Dhanteras personal loan for shopping?

Yes, you can. Since a personal loan is a very flexible financial instrument, it allows you to utilise the borrowed amount to fulfil your last-minute expenditures. Hence, if you wish, you can take a personal loan for shopping on Dhanteras.

How soon can I get an instant personal loan online?

It depends on the lender, but in general, if you are eligible for an instant personal loan, the money will be transferred to your bank account within a short span of time after your KYC is done.

Is a personal loan a better option compared to using my savings on a jewellery purchase?

It completely depends on your requirements and financial status. A personal loan on Dhanteras ensures that your savings remain intact while allowing you to make a big purchase without putting a strain on your finances. However, it is essential to ensure that your repayment schedule remains feasible according to your income.