We all know that India is a country of diverse culture and unending festival celebrations. Each celebration has a wonderful tale, story or myth attached to it. The same goes for the wonderful rituals associated to each festival. Also included among some of the famous festivals in India is Dussehra.

According to lore, it was Lord Ram who vanquished the evil asura Ravana on this day. Also known as Vijayadashami, it is celebrated as the day when good triumphed over evil. Our social media manager took this idea literally and came up with a cool imagery to depict how you too can cull the asura of offline lending and let online lending be right choice going forward.

Today is also the day when Goddess Durga gained a vital victory over Mahishasur, which paved the way to an evil-free mankind. The theme for both these stories is the same – the end of evil, at the hands of good. Dussehra hence in many ways announces the beginning of something new. Getting rid of the old and start something new. This is a great time to start a new business, purchase a vehicle and also to start a new relationship.

If we get the context moved towards finance, investments and savings; it also means we put an end to our financial bad habits and get on board the change express. So without further ado, let us look at some financial lessons that the festival of Dussehra teaches us.

The Need for Festival Loan

To cater to the 10 days of festivities, during Navratri, it is obvious that you need a source of funds to celebrate the festival in all its pomp and fervor. Personal loans are unsecured loans that are availed to meet these exact fund requirements. As it is an unsecured Loan, it does not require any collateral.

The best place to get a really quick and easy personal loan is a digital lending platform – such as Loan Singh. For salaried individuals to gather funds, to celebrate Navratri, within a short span of time is possible only through digital means; traditional banking solutions would take up to weeks to disburse the funds. For a personal loan, the borrower’s creditworthiness determines if he/she can pay the loan EMIs regularly, and that too, without straining his/her daily living. Your credit report acts like a gauge for Loan Singh. It shows how prompt you have been in your previous credit responsibilities and how trustworthy you are. Loan Singh is perfect because of

No collateral – Having no collateral gives personal loan an advantage over a secured loan. Even if you do not own any fixed assets, you can at least get funds from Loan Singh.

Multiple purposes – A personal loan can be availed for a number of purposes – such as shopping for Navratri, purchase of household appliances, electronic gadgets, purchase of gold, holiday travel, home improvement, relocation of job, medical expenses, home renovation, marriage, etc.

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Being Loan Singh Eligible

Before you begin the quick and easy application process at Loan Singh, check the following eligibility criteria required for a personal loan.

Salaried

To avail a personal loan from Loan Singh, you need to be a salaried individual – with a minimum monthly salary of Rs. 20,000.

Credit score

Loan Singh looks at your credit score, to evaluate your credit worthiness, before approving the loan. A credit worthy borrower is someone who has been prompt in his/her previous loan EMI payments, maintains a good credit utilization ratio, has been paying-off his/her credit card bill on time, and has never overspent over the credit card limit. If you have never availed of a loan before, you will have no credit history. In that case, you need to be salaried for at least 3 months to be eligible for a loan at Loan Singh. The lower your credit score, the lower your chances of being eligible for a personal loan.

Age

You need to be at least 21 years of age, to be considered eligible for availing a personal loan with Loan Singh. As mentioned above, you must be of Indian nationality and salaried, as well.

Financial stability

You need to have a stable monthly income. A good budget is advised to avoid times when you might find it hard to pay-off the loan EMIs.

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Festival Loan Benefits in India

Loan Singh’s hassle-free process and quick approval shopping loans are perfect for salaried individuals like you who are too busy to even take rest. The attractive EMIs and interest rates at Loan Singh, make shopping loans affordable to repay back. Add luxury to your mundane lives without putting too much strain on your finances.

Your dreams are our dreams. We help turn your dreams into reality. Brand new appliances and electronic products are also needed in case you are relocating due to your job. The job relocation personal loan at Loan Singh helps cover exactly this.

Loan Singh’s easy EMI calculator can help you understand how much you need to pay in order to clear your consumer durable loan. The calculator only needs your intending loan amount and tenure for telling you how much you need to pay each month. The consumer durable loan can be availed between Rs. 50,000 and Rs. 5 Lakhs.

Another huge benefit you have with a Loan Singh shopping loan is that you have the freedom to choose where you want to spend your loan amount on. You can apply for a shopping loan and utilize the cash to spend on an Amazon, some on Flipkart or some on Snapdeal. Unlike so many ecommerce websites that let you gain discounts for possessing a debit card or points of a particular finance provider, Loan Singh’s personal loan can be utilized to be spent on the website you want and on the product you want to spend on.

Click here, to learn about home improvement personal loan in India

Festival Loan For Dussehra & What We Learn

As everyone is looking for options to apply for festival loans, the one that easily stands out for quick disbursement and easy application is Loan Singh. But before we get to that let’s look at some financial lessons from Dussehra.

Bad spending habits can lead to deterioration of your financial plan. Not having control of your spending habits can lead you to debt. A huge pile up of pending credit card statements and default in EMI repayments can hit your credit score badly as well. So, this Dussehra, burn the effigy of bad spending and start tracking your income.

Try Getting Over the Fear

Bad financial choices are made due to fear creeping in – Fear of failure or a fear of not making most of a golden opportunity. That same fear can make you become skeptical when making important financial decisions in the future. There could be fear in investing into an investment that failed in the past. You could be torn between buying a new vehicle or purchasing a flat.

Bottle down the Negativity

Consider yourself lucky because there are probably hundreds of non-salaried individuals who don’t get to be in a position that you already are. Thinking a financial emergency is too much to overcome is preposterous. The trick here is to switch your attitude to a positive one by reading online about financial solutions to your predicament. Speak to elders and experienced members of your family who have been there and done that.

Make Your Family Understand

A majority of us feel financial stress with regards to issues pertaining to the household. Now, every one of you is unique with challenges of your own. Some of you are married, some of you are single but carry the weight of the family expenses, some live in a nuclear family etc. You need to make your family members understand the financial problem. In case, your family likes to blow out your credit card, you need to advise or counsel them about spending. It is your credit score that is being tarnished here. Does your kid really need a private school to go to? When there is a reputed government school giving the best in education and discipline?

Build A Strong Budget

Now we get serious. Everyone has probably told you about building a budget. There is no ‘etched in stone’ rule that you need to follow. That’s the beauty of building a budget. You don’t just write it and stick it on the fridge or calendar, you hold true to it. Simply jot down the total income that comes in every month, next start writing all the expenses in priority. Whatever amount remains after the deductions i.e. Income – Expenses = Savings. This ‘savings’ can be used to spend on clearing any debt or putting it into a piggy bank.

There is something warm and fuzzy about checking your savings each month. With a growth in savings, your financial stress levels will slowly disappear. You can use notepads, sticky notes; good old excel or fancy smartphone apps. There are websites online that help prepare a budget.

Improve Your Monthly Savings

The tough part is now done. Savings is actually a fine art that a miser has mastered. But you are not a miser. You cannot be one. Yes, you can save on that extra liter of fuel by driving during non-traffic hours, but realistically, the lifestyle that you are maintaining should not be hampered in a big way. Make minor tweaks every day, every week, every month and then see a positive snowballing effect on your savings.

Learn more about personal finance, and how it can help you relieve stress

Maintain A Single Loan

I could probably be the first person telling you this but debt is actually good.

Need funds to get married but expecting a raise within the next few months – apply for a wedding loan online. Need an upgrade in your home appliances – apply for a consumer durable loan.

Want to take a break from all this stress, apply for an online travel loan and off you go to Europe

On the flipside, if you have already fallen into debt and that is the reason for financial stress, just apply for a debt consolidation personal loan. This way you can combine all your debts into one single loan. Credit card fees are off the roof? Apply for a credit card refinancing loan. Also, remember that you need to cycle credit to improve your credit score. This is what CIBIL and Experian look at, how prompt you are with your repayments.

Improve Your Stagnant or Bad Credit Score

Credit repair takes time and requires you to be fully focused. Don’t miss out on any EMI repayment due dates, clear any pending credit card bank statement dues, don’t apply for credit within short spans of time and always apply for a credit report yourself and check for credit report errors.

Festival Loans

Festival loans helps you to spend a whole load of cash on buying gifts for loved ones, purchasing new clothes, purchasing the latest gadgets, improve the décor of your home, purchase home appliances, bring home a used vehicle or plan a trip abroad during the festive holidays. A Navratri loan or Diwali loan or Dussehra loan are all apt to apply for and spend during the respective festival.

Just think about it. Festival loans can get your home ready for celebrating with visiting family. It is also an auspicious time to apply for a festival loan to buy a second-hand vehicle. You can also apply for a festival loan from Loan Singh and spend it for travelling with family. Kids will be at home for the holidays and their constant pester to go on a holiday can be solved with festival loans.

Big marketers, retailers and ecommerce players are expecting the festival season to boost their sales, even more than the same period last year. This, despite the depreciating rupee and rise in fuel prices. Top consumer electronic brands such as Panasonic and Sony, along with the top 2 e-commerce marketplaces in India, Flipkart & Amazon, are all gearing up for one helluva festival shopping season.

There is no doubt that the festival shopping for this year will grow by the double digits, thanks to a positive GDP growth of 8.2% during the last quarter towards the macro-economy. The sales will be firing on all cylinders also because of the easy and wider availability of consumer finance. Despite the decrease in the Rupee, you can expect a steady growth in smart television sales, thanks to the start of Hero ISL, India’s tour of Australia and the English Premier League’s importance phase.

Appliances such as refrigerators and washing machines could be poised to jump a double digit growth after the GST slash in July. Consumers who are salaried and living in tier II cities are bound to influence discretionary spending. The GST on electronic products were slashed from 28% to 18%. A good monsoon has also stabilized demand in rural areas towards electronic products.

It is historically observed that a festive spending or festival shopping period is observed from the start of October continuing to much after the New Year. Consumers spend more during the last 3 months of the year, than they do during the whole year. Last year, the pre-GST sales had taken the gloss off the yearly Diwali spending spree. This year however, there will be many who will not be denied.

The depreciating rupee will also ensure that retailers will increase prices of their products and commodities. The discretionary spending for white goods even in small towns are expected to become stable thanks to a good monsoon. The festive period would have gained significance with Onam, but the floods in Kerala were a difficult time for everyone across India. The washout now subsided, there are hopes that southern India will contribute heavily towards festive shopping towards the end of the year.

Diwali, which will be celebrated between the 5^th of November to 9^th of November, accounts to between 35-40% of various consumer industries. There never is a dull moment during Diwali. The purchase sentiment during Diwali is unique. Retailers will no doubt shower consumers with discounts, but the trend this year would be focused on a ‘Wardrobe Refresh’ rather than the same old discounts, offers and schemes.

Online marketplaces are bound to witness a boom in discounts, deals and finance options to appease the surge in sales. Categories such as television, apparels and smartphones together constitute close to 72% of online sales. This festive spending season is expected to be the biggest in terms of new customers, adoption of digital payments and traffic visiting the stores. The Big Billion Day was held between October 9^th and October 13^th 2018.

About Loan Singh

Loan Singh is a digital lending platform that prides in providing online personal loan or unsecured personal loan to salaried individuals. You can apply for quick funds as an easy emergency loan which is not a bank loan. We provide a loan with the best personal loan interest rates. The instant funds, or instant loans, are loans between Rs. 50,000 and Rs.5,00,000 taken for purposes such as:

• Home improvement loan/Home renovation loan
• Marriage loan/ Wedding loan
• Medical loan
• Used vehicle loan
• Consumer durable loan
• Vacation loan
• Debt consolidation loan
• Credit card refinancing loan
• Job relocation loan
• Travel loan
• Festival loans
• Gold jewelry loan
• Shopping loan
• Lifestyle loan

You can calculate your easy EMIs using our personal loan EMI calculator. We accept bank statement and PAN, for quick loan approval. A bad credit score or credit report errors can lead to personal loan rejection. The ‘Loan Singh Finance Blog’ is one of the best finance blogs in India. Loan Singh is a product of Seynse Technologies Pvt Ltd and is a partner to the Airtel Online Store.

Loan Singh’s Online Presence

Loan Singh is not an anonymous digital platform. We are present on almost all leading social media platforms. All you need to do is look for us. You can find us on Loan Singh Facebook, Loan Singh Twitter, Loan Singh YouTube, Loan Singh Pinterest, Loan Singh Instagram, Loan Singh LinkedIn, Loan Singh Blogarama, Loan Singh Google Review, Loan Singh Medium, Loan Singh Reddit, Loan Singh Tumblr, Loan Singh Scoop It, Loan Singh Storify, Loan Singh Digg and Loan Singh Blogger.

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