Why is a Loan against securities considered the best option during festival seasons?

loan against securities
loan against securities

Festival seasons can be a time of the great expenditure, with festive buying kicking into full gear. There’s much to see, do and purchase, but sadly there may not be as many financial resources to spare as you try to bring some cheer to your household. If you’re in these shoes, consider taking out a loan against securities at cheap rates so you can have enough money to cover yourself during this period of the year. With festivities like Bhai Dhooj, Diwali, Dhanteras, and more coming in thick and fast, a loan against securities can afford your savings much-needed breathing space. Here’s why a festive digital loan is ideal during festival seasons

High loan amount to offset simultaneous festivals

Bhai Dhooj, Diwali, Dhanteras, and Karvachauth all take place within the span of one month. This means that you need a steady amount of cash to be able to meet the demands of all these festivities, which basically come in such a flurry that they can be so draining for both you and your family. The great thing about taking out a quick loan against securities during this time is that you can access higher loan amounts than personal loans to meet the purchase needs for festivals.

With lenders such as Abhi Loans, you can borrow from as low as Rs 15,000. This makes it handy if you need to borrow just a small amount to top up your savings for the holiday. The lender also avails up to 10 lacs, allowing you to pool enough cash for various festivals as follows: 

  • Bhai Dhooj: With a quick loan against shares and mutual funds, you can offer monetary and other types of presents to your loved one.
  • Diwali: A loan against securities means enough cash for pooja-item purchases, new attire, and home renovations
  • Dhanteras: You’ll have enough spending power for electronics, as well as silver and gold accessories 
  • Karvachauth: A loan on shares and mutual funds delivers enough cash to dine out at a fancy restaurant or surprise a partner with an opulent gift

Faster turnaround during busy loan windows

The demand for loans reaches fever-pitch during the holiday period, as many rushes to seek out last-minute funding. Consequently, this may mean long queues and slower turnaround as lenders are bombarded with endless requests for personal funding. 

However, with a good lender such as Abhi Loans, you can secure a quick loan against securities within 24 hours. This fast turnaround is made possible by a: 

  • The fully digital process doesn’t require physical intervention.
  • Large staff reserve that’s on stand by to serve you during times of surges
  • Absence of background checks that notoriously inflate waiting periods

Having recently secured $4.5 million in funding, Abhi Loans has also enhanced its technology stack and grown its loan book to even reach more Indians during the festivities.

Special offers are bound to be plenty

The great thing about the festival season is that companies are always looking for new ways to reward their customer base or reel in new business. In the spirit of the season, we are bound to see many more incentives from lenders, including: 

  • Special discounts
  • Improved interest rates
  • Cash back programs and much more

All in all, the festival window promises more value for your loan against securities compared to any other time of year. NBFCs such as Abhi Loans are known for their generosity during festivities. In fact, as we speak, the NBFC has a Rs 1,000 cashback offer on their quick loan against securities which is set to expire in a few days. We’re likely to see many more of such offers as we inch closer to the end of the year. Be sure to check out Abhi Loans on their website today before their latest offer on loans against mutual funds and shares expires.

No regard for your credit score or CIBIL

Loans in India are often assessed based on your creditworthiness, as reflected by your CIBIL or credit score. Anything below 750 may hamper your chances of securing a loan from mainstream banks and other NBFCs during a time of year when lenders are quite cautious about who they give loans to. But the great news is that you can get around these hurdles by instead opting for a loan with no credit check, such as that offered by Abhi Loans. 

If you don’t have a healthy credit standing, which you possibly may not be able to improve by the time the festival season rolls in, then turn to quick capital against securities for a loan with low CIBIL. With no background checks to worry about, you’ll get the amount you need for gifts, dinners, and all else without being deemed a risk case and thus settling for a lower sum. 

Better flexibility to spend as you please

Many loan arrangements tend to be restrictive in nature with regards to how you can spend them. For example:

  • You can’t use a home loan for any other purpose beyond financing a home
  • The same goes for a car loan which strictly goes into automobile purchases
  • It’s also the same thing when it comes to student loans, mortgages, and the likes

On the other hand, when you take out a loan against securities, your end use isn’t shackled to a specific purpose. You are free to spend the sum as you please to buy a new car to commemorate the holiday, make renovations in honor of the day, or meet the expenses of going out to celebrate. The choice is yours. 

Turn to Abhi Loans for festival loans against securities

With just a handful of months until the end of the year, the festival season is closing in fast. While it’s a time to celebrate, meet up with family and share the gift of each other’s presence, it’s also a period of massive capital spending. If you need surplus cash to see you through these joyous times, consider taking out quick capital against securities so you can buy gifts for your loved ones, make home improvements for the holiday, and fulfill other obligations. The festival season is around the corner, and Abhi Loans has you covered with loans on shares and mutual funds. Head over to their website to apply.

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