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Blog / Can Peer To Peer Lending Help Getting A Loan in the Festival Season
13 Sept
Best way to get loan

Can Peer To Peer Lending Help Getting A Loan in the Festival Season

The festival season is a time of joy and fun, and we want to be ready, with our finances for enjoying it in the best possible way. Sometimes, unknown situations and unfavorable circumstances erupt out of nowhere, causing us financial burdens and problems that we have no control of. Overspending may also cause a cash deficit. We also would like to purchase some high-value product, during a festival season, including car, bike, or would like to renovate our home, among other celebration related activities. These and many other reasons require that we have adequate financial resources when enjoying with our friends and family members.

Banks can grant you a loan only when you have a good credit history. There may be long documentation processes associated with a festival loan. The online P2P lending platform has emerged as a hassle-free way of getting the loans, and lending websites like LenDenClub are a worthy option when you are looking for a small loan, for your festival season financial needs.

Loads of Exclusives Related To P2P Festival Loans

Banks do not show high interest for lending the smaller amounts related to festival loans, which may vary from Rs 50,000 to Rs 2,50,000. Even if a borrower gets the loan, the interest rates charged are too high. There is no point in comparing among different banks, as the interest rates vary only a small bit. In these circumstances, Peer To Peer or P2P online lending has emerged as the best platform, where borrowers can get a loan for the festival season at lowest interest rates. While a bank loan may take weeks and months of time, P2P loans are granted to you within 24 hours. As online lenders offer loans at varying interest rates, the borrowers can easily choose at the lowest possible rates, after comparison.

Leading P2P lending platform websites in India, have a good number of certified lenders offering festival loans at varying rates. For instance, LenDenClub has more than 1300 registered lenders and offers a 100% loan financing ratio. The loan process is a breeze at the portal. A borrower can register him/herself on the website, fill all the KYC details, and apply for a festival loan. As both lenders and borrowers are screened, and their credentials verified, through the use of modern technologies, among other measures; the loan process is quite safe and reliable. The festival loans are available in a hassle free manner, and the customers do not have to undergo the long and time-taking documentation processes. The loan amount gets deposited into the bank account of the merchant in the least of the time. There are no prepayment penalties, and no hidden charges, and you can avail the loan for any festival related purchase/need. The repayment terms are also flexible, and you negotiate to repay the loan in any time duration you desire.