Festival loans

By Pradeep Yuvaraj | March 15, 2011

The country we live in is rich in culture and heritage. ‘Every person has his own way of celebrating festivals according to his own culture and practices’, is what exists in writing. But the ultimate truth is that, the level of celebrations at any point of time is completely dependent on the weight of a person’s pocket. The flow in the consumers spending during festival season is very high. Money sometimes acts as an obstacle to the excitement of the children and the expectation of the family about the festival season.

This can be solved by a festival loan. Festival loans are loans offered by the banks on festival season with cheaper and discounted interest rates. Festival loans are however, an alternative of personal loan. The loans are restricted to a year, and from Rs 5,000 to maximum Rs 50,000.The processing fee charged is Rs. 100 and the repayment can be made by monthly EMIs. The interest rates vary from bank to bank and the loans take very less time to be sanctioned.

The extraordinary features of festival loans are that they are lend with very low interest rates because of the discounts offered during festival seasons. It is very easy to process these loan as they require lesser certifications and quick approval.

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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