Diwali is a festival of light and is also a time of joy, celebration and a time when many start new ventures or new beginnings. Many individuals and businesses see a need for extra funds during this time of the year for shopping, gifts, home renovation, travel and business expansion. To support this, banks and NBFCs across India start offering special Diwali loan schemes. These loans are designed to be convenient, quick and festive-season friendly.
1. Personal Loan Offers During Diwali
The personal loans are all unsecured loans, which means that you do not have to give collateral. They can be used for:
- Buying gifts for family and friends
- Home decoration and renovation
- Paying for travel or festive events
- Medical emergencies or unforeseen expenses
Top Banks Offering Personal Loans
| Bank/NBFC | Loan Amount | Interest Rate (p.a.) | Key Features | Eligibility |
| Yes Bank | Up to ₹40 lakh | Starting at 10.25% | Loans for home renovation, gifts, and debt consolidation | Salaried/self-employed with a good credit score |
| HDFC Bank | Up to ₹40 lakh | Starting at 10.50% | Quick approval, flexible repayment, minimal documents | Salaried/self-employed with stable income |
| ICICI Bank | Up to ₹40 lakh | Starting at 10.60% | Fast disbursal, flexible tenure | Salaried/self-employed, good credit history |
| Tata NeuMoney | Up to ₹10 lakh | Varies | Festive discounts on gift cards, personal loans | Based on the credit profile |
Example Scenario:
If you are planning to renovate your home or workspace before Diwali and need funding of INR 8 lakhs, then applying for a personal loan from HDFC Bank, which is offering an interest rate of 10.50% p.a., gives you quick funds without making use of your savings.
Benefits of Diwali Personal Loans:
- Quick approval and disbursal
- It is a flexible repayment option
- Also helps you in covering multiple expenses without touching savings
2. Business Loan Offers During Diwali
For the ones who own businesses, the Diwali season is a peak season to increase sales, have sufficient stocks of inventory, or even expand their operations. During this season, the banks also offer business loans with attractive interest rates, process fee discounts, and faster approvals.
Top Banks Offering Business Loans
| Bank/NBFC | Loan Amount | Interest Rate (p.a.) | Key Features | Eligibility |
| Bajaj Finserv | Up to ₹80 lakh | Starting at 14% | Quick disbursal in 48 hours, unsecured | 3+ years in business, good credit profile |
| HDFC Bank | Up to ₹1 crore | Starting at 10.50% | 50% off on processing fees, flexible tenure | Established business, stable income |
| PNB Housing Finance | Varies | Varies | Loans against property at lower rates | Own property, stable cash flow |
Example Scenario:
A small retail shop owner wants to keep his shelves stocked with extra inventory for Diwali sales worth INR 20 lakhs; he can apply for a loan from the Bajaj Finserv business loan as he will get the funds in just 2 days and also repay over a year, while boosting sales without dipping into personal savings.
Benefits of Diwali Business Loans:
- You have extra funds during the festive season.
- The quick approval of loans helps to meet the time-sensitive needs.
- Business loans can be collateral-free in some cases.
3. Tips for Availing Diwali Loans
- Compare Interest Rates: It is always better to examine and assess multiple banks to find the lowest interest rates.
- Check Eligibility: Always verify that you meet the qualifications of the bank before applying for a loan.
- Read the Fine Print: First things first, properly understand the processing fees, the repayment penalties and also the other charges.
- Plan Your Repayment: It is always good to plan your finances, as choosing the right tenure for EMIs and repayments monthly should not affect your monthly budgets.
- Apply Early: During the festive season, the banks get busy with disbursing and approving loans; therefore, it is best that you apply for a loan early.
4. Important Dates and Bank Alerts
- Diwali: October 20, 2025.
- Bhai Dooj: October 23, 2025.
- Chhath Puja: October 27-28, 2025.
Bank Holidays: During Diwali time, every bank (whether private or government) goes on holidays. Nonetheless, UPI transactions, ATMs, and other online banking services operate as usual, meaning you can monitor your loan account on holidays, if you like.
5. Benefits of Diwali Loan Offers
- Special Interest Rates: Some banks have a lower interest rate offer or discount during the Diwali season.
- Faster Approval: The lenders give major priority to the festive loan applications.
- Flexible Repayment Options: The banks may also provide an extended tenure or EMI options.
- Festive Discounts: There are several NBFCs that have now started offering attractive offers and schemes on gift cards and personal loans.
6. Things to Keep in Mind
Borrow funds only when needed, and know about your consumption or expenses well before applying for a loan. Hence, avoid over-borrowing of funds.
- Always ensure that you have made a valid comparison between personal vs business loan options if you have numerous needs.
- Ensure you have a good credit score to get the best rate.
- Always make sure that you read the loan terms and the conditions carefully to avoid last-minute surprises.
Conclusion
Diwali is a great opportunity for individuals and business owners to apply for a business or personal loan to meet their prior commitments or business requirements. With careful planning, comparison and timely application, you can enjoy a stress-free Diwali while also handling your finances smartly.
So if you are thinking of applying for a personal loan or a business loan at attractive interest rates, then GoFinance is ready to help you.
