India’s festive season seems to arrive earlier each year—and so do the loan offers. From “Zero Processing Fee” personal loans to “No-Cost EMI” schemes on electronics and furniture, banks and NBFCs are vying for your attention.
But wait—is it a good deal or a dangerous debt trap?
Let’s break down what these offers mean, the hidden risks, and how Vizzve Finance helps you make the smartest move this festive season.
🧨 What Are Festive Loan Offers?
Festive loan offers are time-bound promotions by banks, NBFCs, and fintech companies offering:
✅ Lower interest rates (e.g., starting from 9.99%)
✅ Waived or reduced processing fees
✅ Pre-approved loans within minutes
✅ Cashback or reward points on spending
✅ Flexible EMI options, including no-cost EMI
On the surface, they sound like a great opportunity to buy that dream phone, fridge, or even renovate your home—but not all that glitters is gold.
⚠️ Hidden Traps to Watch Out For
🔍 1. Temptation to Overspend
Festive offers can make you buy what you don’t really need—because it “feels” affordable.
🧾 2. High EMIs Post Festive Period
Some schemes delay EMI for 3–6 months—but when they begin, they hit hard, especially if you're not prepared.
💳 3. ‘No-Cost EMI’ Isn’t Always Free
Retailers may inflate the base price to offer 0% EMI. You still end up paying more than MRP.
⚖️ 4. Credit Score Impact
Taking multiple loans or using EMIs can reduce your credit score if not managed properly.
🔒 5. Hidden Charges
Processing fees, prepayment penalties, late payment fines—they all add up.
🧠 Vizzve’s Guide: Turning Festive Offers into Smart Financial Moves
With Vizzve, you can enjoy the festive season without falling into a debt trap.
✅ 1. Evaluate Before You Celebrate
Use Vizzve’s Loan Comparison Tool to check interest rates, tenure, and total repayment across banks before committing.
✅ 2. Set a Festive Budget
Create a Vizzve Festive Fund with a cap. If a purchase exceeds this, pause and rethink.
✅ 3. Check Loan EMI vs Monthly Income
Follow the 50:30:20 rule: Don’t let EMIs eat into essentials and savings.
✅ 4. Don’t Stack Multiple EMIs
A new EMI during festival season may clash with existing ones (car/home/personal loan). Vizzve’s EMI tracker gives real-time alerts.
✅ 5. Plan a Prepayment Strategy
Festive bonus incoming? Use part of it to clear your festive loan early. Vizzve will help calculate how much you save in interest.
🙋 FAQs
Q1: Are festive loans safe?
Yes, if taken with a clear repayment plan and no impulse buying. Use tools like Vizzve to compare and calculate.
Q2: What is the ideal loan-to-income ratio?
Your EMIs should not exceed 40% of your monthly income.
Q3: Can I prepay festive loans?
Most personal loans allow prepayment after 6–12 months. Vizzve shows how much you’ll save by doing it early.
🎁 Conclusion
Festive offers can be a blessing or a burden. With smart planning, budgeting, and real-time financial guidance from Vizzve, you can light up your Diwali—or any festival—without burning your wallet.
Remember: Deals fade, but debt can last. Choose wisely with Vizzve.
Published on : 11th July
Published by : SMITA
www.vizzve.com || www.vizzveservices.com
Follow us on social media: Facebook || Linkedin || Instagram
🛡 Powered by Vizzve Financial
RBI-Registered Loan Partner | 10 Lakh+ Customers | ₹600 Cr+ Disbursed.