Festival Loans are a kind of personal loans, The Festival Loans are provided to help people to fulfill their personal and family’s desire during the festival time. Usually, leading banks of India provide this loan on the festive season at cheaper or discounted rate.
These Festival Loans can be said as the best type of loan for those people who want to avail a small amount of loan. Under this category of loan, banks in india do provide a minimum amount of Rs.5.000 and you can get a maximum amount of Rs.50,000 under this type of loan.
But the festival loan is restricted up to 12 months. Repayment is to be done by equated monthly installments (EMI). The rate of interest on this festival loan varies from bank to bank.
