The festive season is here and so is the time to loosen the strings of your purse and shell out all the cash you have for a seemingly endless shopping list. But for those who are strapped for cash and don’t want to dip into their savings, a personal line of credit may be helpful. So, don’t let the cash crunch put a damper on the festive cheer and apply for a credit line.
Why a Credit Line is the Best Bet for the Cash Strapped
Fintech companies have come up with an excellent alternative to traditional personal loans and conventional credit cards that come with hefty interest rates and processing fees – Personal line of credit. A personal line of credit has a quick and easy approval process, flexible borrowing options, convenient repayment tenures, and a relatively lower closing cost because it is a continuously revolving credit account that can be maintained for life. Unlike a personal loan where you pay interest on the entire loan amount disbursed to you, a personal line of credit lets you use withdraw money as and when you need it and requires you to pay interest only on the money you actually spend.
That is not all – you can use the personal line of credit as a cash loan or a credit card and swipe for as low as 3000 or withdraw as much as your approved limit in one time. No collateral is needed for getting approved for a credit line and you can choose your own EMIs with variable rates that are easy on your pocket.
Ways a Credit Line Can Brighten Your Diwali
- Bring Home Some Bling This Dhanteras
Gold is a great hedge from inflation and fluctuating markets apart from being the most loved precious metal in India and Dhanteras marks an auspicious occasion to bring it home. So, whether you choose you buy gold jewelry, gold coins or gold bullion, it will surely bring you a distinct advantage against uncertain stocks, shares and national currencies.
- Shop Consumer Durables
A personal line of credit can be used for both online and offline shopping. With festive deals and big discounts on home appliances and consumer durables this Diwali, make sure you don’t lose out on the best deals and bring home that much awaited air conditioner or big screen TV with a convenient line of credit.
- Invest in Home Décor
Still got some money life in your personal line of credit? Paint your house and amp up the festive vibe with bright colors that add freshness and cheer while giving your home a lavish, sophisticated feel.
- Go on a Vacation
Break the monotony of life and take your family on that long pending vacation. This Diwali, create some everlasting memories with your loved ones on a leisure holiday. A personal line of credit makes money instantly available to you anywhere, anytime and you can conveniently repay the amount over the duration of 3 years. So, don’t wait anymore and use the credit line as a holiday loan and give you family a Diwali gift that they will remember for life.
- Buy a Second-Hand Car
The festive season also brings cheer to the used vehicles industry with several exclusive discounts and irresistible offers. It is a great time to make the most of best bargains available on second-hand cars. Drive home a car this Diwali and save money with those attractive interest rates, low insurance costs, and processing fee waiver with a personal line of credit before it is too late.
A personal line of credit can be availed for different financial purposes. So whether you choose to use it as a home improvement loan, a travel loan, a second-hand vehicle loan or a consumer durables loan, it makes a financially sound choice that comes with a quick disbursal, minimal documentation, and an easy repayment structure so you can enjoy your Diwali worry-free without falling into a debt trap!