Instant Loan for Raksha Bandhan

Is your budget the only thing between you and an unforgettable Raksha Bandhan gift? Opt for an Instant Loan to get immediate financing, and become the best sibling in the world. An Online Loan for gifts offers funds up to ₹5 Lakh without any end-use restriction. That means, whether a holiday or a jewellery set, your gift can be a dream come true. Here are the top 5 Raksha Bandhan gift ideas you can buy for your sibling with the help of an Instant Loan. Take a look!

Top 5 Raksha Bandhan Gifts for your Sibling

Here is the list of Raksha Bandhan gift ideas you can choose from:

1. Luxurious Vacation
Who says Raksha Bandhan celebration ideas have to be restricted to cafés and malls? This time, gift your sibling a ticket to paradise and strike out their dream destination from their bucket list. If you still have some money left over after booking transportation and accommodation, you can buy them some clothes for their trip as well.

2. Watches
Watches are a classic present that your sibling will treasure for a very long time! There are several styles to select from, including sports, digital, and analogue. Select a timepiece that complements your sibling's fashion sense, or pick a collector’s edition for some real timelessness.

3. Two-wheeler 
Gift your sibling a new two-wheeler for guaranteed smiles and a gift they can use every day. This gift adds speed and convenience to their day-to-day life and is easily purchased with the funds from a Personal Loan. Whether a scooter or a motorbike, ensure you do a thorough check and get all your documents in place before you make your purchase.

4. Education
This is an unconventional Raksha Bandhan celebration idea, but it is sure to be treasured for years to come. After all, education is the most powerful thing in the world. So, this year, gift your sibling the power of knowledge by funding their education and helping them reach their life goal.

5. Electronics
In this tech-savvy world, buying your sibling a high-tech gadget will make you the favourite sibling for sure. A loan for festival gifting will enable you to aim high, gifting them a piece that will stay trendy and in style for the long run. Think beyond phones and tablets; consider a smart mug, a VR headset, or a wireless charger.

Also Read: Emergency Personal Loan: Fast Financial Solutions

Benefits of Taking a Personal Loan for Gifting

Aside from the obvious benefit of bringing joy to your sibling, a Personal Loan offers several other advantages that make it a good financing option:

Collateral-free: Instant Personal Loans are unsecured in nature, meaning you don’t have to pledge your vehicle or precious belongings to avail the Loan.

Flexible Repayment Tenure: An Instant Loan offers flexible repayment options, helping you select a repayment window that aligns with your requirements and repayment capacity. Some lenders like Poonawalla Fincorp even offer repayment tenures of up to 36 months, keeping your monthly EMIs easily manageable.

Minimal Documentation: Securing an instant Personal Loan is easy as it requires only a few basic documents; this is likely to include your KYC documents, address proof and income proof.

Easy Process and Quick Approval: This is one of the most notable benefits of a festival loan. The application process is effortless, and approval is smooth and hassle-free, leaving you free to focus on the celebrations of the day.

No End-usage Restriction: Unlike other loans tailored to solve specific financial problems, Personal Loans have no limitations on what you spend the amount on. So, whether a shopping splurge abroad or a dream vehicle, there’s no limit to your gifts this season.

Eligibility Criteria and Documents Required for a Festival Loan

Broadly, here are the eligibility criteria and documents required to apply for an Instant Loan for Festival gifting:

Eligibility Criteria for an Instant Loan
●    Age: Between 20 and 60 years.
●    Citizenship: Indian.
●    Employment: Salaried with a central government job, MNC, or public/private listed company.
●    Work Experience: Minimum 1 year.
●    Monthly Income: Minimum of ₹20,000-₹30,000.

Eligibility will differ across lenders, so ensure you check with your preferred lender about their specific requirements.

Documents Required for Instant Loan
Typically, an Instant Loan for Gifting just requires your KYC Documents (PAN Card/Aadhaar Card/Driving License/Voter ID/Passport). But, some lenders may need additional documents such as:

●    Current Address Proof: Utility bills or rent agreement
●    Financial Documents: Bank statements
●    Employment Proof: Official mail ID confirmation/Employee ID Card

Also Read: How Technology Is Helping Easy Access to Personal Loans 

How to Apply for an Instant Loan?

1.    Choose a lender that offers attractive interest rates on your desired amount, alongside flexible repayment options
2.    Check your eligibility and meet the documentation requirements for the loan
3.    Fill and submit your application on the lender’s website or app, uploading clear copies of your documents
4.    Wait for the lender to verify your application and send you the loan terms
5.    Review the terms of the loan carefully, including the repayment tenure and any potential prepayment penalties
6.    Once the application is approved, the funds will be disbursed within a few hours; until then, you can think of more Raksha Bandhan gifting ideas!
7.    Once the funds are disbursed, you can use the amount wherever you like. The responsibility of paying off the loan is now yours.

Also Read: Get Instant Personal Loan in Minutes - Guide to Apply it Online

To Conclude

Raksha Bandhan is the perfect time to make your sibling feel extra special without breaking your savings. From vacations and watches to education, there are plenty of options to choose from. All you have to do is opt for an Online Loan for gifts to make your sibling’s dream come true. 

If you’re ready to explore Instant Personal Loans, Poonawalla Fincorp has loan products that have flexible tenures with no hidden charges. Apply now!

FAQs

What is the maximum amount I can avail on a Personal Loan for Gifting?
Though this amount varies by lenders, you can expect to avail as much as ₹5 Lakh on an Instant Personal Loan for gifting.

What are some interesting Raksha Bandhan gifts ideas?
Interesting Raksha Bandhan festival gift ideas include things like a vacation, a high-tech gadget, hobby gadgets like telescopes or metalworking hobby kits, and even an electric bike or scooter. Many of these can easily be financed with an Online Loan for gifts.

How can I apply for a Loan for Festival Gifting during Raksha Bandhan?
The loan application process is easy and efficient, meaning you can apply for the loan even with the ongoing festivities of Raksha Bandhan. No need for any branch visits; simply go to your lender’s website and hit ‘Apply Now’. Keep digital KYC documents ready, and that’s it!

What do you give on Raksha Bandhan?
Typical Raksha Bandhan gifts ideas include things like chocolates, clothes, Bluetooth earphones, or a new phone. To truly stand out, you can finance a high-end gift of value with an Instant Personal Loan. The funds enable you to choose memorable gifts like funding a holiday, funding education, going for an expensive collector’s edition watch, and more.