In this blog, let us discuss some of the expenses that go into the festival, understand what a personal loan for Puja entails, and how one can responsibly borrow so as not to stress about repayment later.
The real expenditure on Durga Puja
Every family has their own way of celebrating the festival, but most have broadly similar expense categories. These are:
New clothes and shopping:
This is usually the biggest expense category for most families. New clothes for Ashtami, Navami, and Dashami, sarees for the ladies, and new kurtas for the kids – along with new footwear and accessories. A Puja shopping loan is always in demand because who wants to miss looking their best on this day of days?
Travel and coming home
People who work elsewhere usually start booking tickets well in advance to enjoy festivals with their loved ones. Train tickets, flight tickets, or long-distance cabs can be expensive, especially when there is high demand during festive seasons.
Food and hosting
Bhog, feasting, pandal-hopping, and sweets are all part and parcel of the Bengali holiday. Besides, hosting relatives who come home for the festival also comes with its own costs.
Gifts and celebration expenses
Gifts for family members and pandal donations also add up substantially.
When you add all of this, it is understandable why many would want a Durga Puja personal loan to be able to celebrate this year’s festival and repay it conveniently over the coming months.
How a personal loan helps during Puja
You keep your savings untouched
The money for your Puja-related expenses is borrowed separately, so you do not have to liquidate any of your hard-earned savings.
You get funds quickly
If you are looking for a personal loan in Kolkata or elsewhere, you can get a digital loan from the comfort of your home. The entire process from application to disbursement is on your phone.
You only borrow what you need
You can decide how much you want and need to borrow for your Puja expenditure, and repay it in instalments that suit you.
InstaMoney is a digital loan platform that connects you to trusted NBFC partners who will give you a personal loan for Durga Puja expenses. The aim is to make borrowing simple and stress-free, so you can focus on what matters: the Durga Puja!
How to get an online personal loan in Kolkata
If you are looking for a personal loan in Kolkata, or anywhere else for that matter, you are in luck. In times like today, an online personal loan can be applied for anywhere, from the comfort of your home. Here is what the process generally looks like:
Check eligibility
You will need to provide some basic details for eligibility. Approval for a personal loan is always conditional, so make sure you meet all the criteria.
KYC verification
The next step involves KYC (Know Your Customer) verification. You will need to provide your PAN, Aadhaar, and a bank statement for this step.
Review your loan offer
Before accepting the loan offer, review the terms and conditions. You need to make sure you understand all the details, such as the processing fee that might be applicable.
Get your loan
Once your KYC is cleared and the loan offer has been accepted, the loan amount will be transferred directly to your bank account.
The whole process is quick and simple and can be done while the dhak beats in the background.
What to consider before you borrow
As mentioned, a personal loan is a great way to raise money to meet Puja-related expenses because it is fast and simple. However, there are also some important considerations to keep in mind before you borrow. Here are some things to keep in mind:
Only borrow the amount that you need
People tend to borrow more than they need during festive seasons, but it is always advisable to keep in mind that you will have to repay the money eventually.
Understand the costs involved
While the interest rate on a personal loan can vary, you should always know what the processing fee will be. The processing fee for a Durga Puja personal loan will always be mentioned clearly, so make sure you understand the costs involved before borrowing. Usually, a lot of people miss factoring in any processing fee while calculating their ability to repay, which may turn out to be unpleasant later.
Choose the right tenure
A longer tenure will have lower EMIs but a higher overall interest payment, and a shorter tenure will have higher EMIs but a lower overall interest payment. Consider your capacity to repay before choosing the tenure for your loan.
Make sure the EMI fits your budget
The main aim while choosing the apt EMI is that it fits seamlessly within your budget. Like this, you are able to enjoy a great Puja without worrying if your salary will be able to cover the EMI or not.
Review the key fact statement
The key fact statement gives you an overview of the terms and conditions of the loan you are about to take. Always read it thoroughly before accepting the loan offer.
Borrowing responsibly helps you enjoy Puja without the additional stress of repayments. A personal loan for Durga Puja is a simple and convenient way to fund your festival expenses as long as you borrow responsibly. Make this Puja special, without the financial stress. A personal loan for Durga Puja expenses is the easiest way to fund these expenses, as long as you borrow responsibly. This way, you can enjoy the festival without thinking about repayments. So plan your Puja budget wisely and have a great time.
