Buy Gold This Dhanteras with a Personal Loan

Posted on Wednesday, October 16th, 2024 | By IndusInd Bank

The festival of Diwali is a time of auspicious beginnings. Dhanteras, the first day of Diwali, is considered an auspicious time for buying gold. Many believe that purchasing gold during Dhanteras brings wealth and prosperity. 

However, with gold prices fluctuating, buying gold on Dhanteras can be a significant investment. If you are looking to buy gold but are short on funds, taking a personal loan can be an ideal solution. Let’s explore how.

Can You Use a Personal Loan to Buy Gold?

First, you may be wondering if it is feasible to buy gold with personal loan funds. 

Yes, you can use a personal loan to buy gold on Dhanteras. Unlike loans with specific purposes—like home or education loans—a personal loan can be used for any purpose. This includes purchasing gold. In addition, a personal loan is unsecured. This means that you will not have to pledge the purchased gold—or any other asset—as collateral to obtain the loan. 

Why Buy Gold with a Personal Loan this Dhanteras?

Taking a loan to buy gold during Dhanteras is beneficial for many reasons. 

1.      Instant Access to Funds

It will allow you to take advantage of the auspicious timing. You will not have to delay the purchase because of financial constraints. 

2.      Flexible Repayment

You can repay the personal loan through easy EMIs. This can help you spread the gold cost over a longer period.

3.      Preserving Savings

Diwali can be a time of planned and unexpected expenses. Using a personal loan to buy goldhelps you preserve your savings. You can use these funds to take care of other expenses. 

4.      Better Credit Score

By taking a loan to buy gold and repaying it on time, you are giving yourself the opportunity to improve your credit score. 

Other Uses of Personal Loans During Festivities

Along with helping you buy gold on Dhanteras, a personal loan can be useful for a variety of purposes:

1.      Travel

Many people have plans to visit family or go on a holiday during festivities. A Travel Loan from IndusInd Bank can help you cover expenses such as flight tickets, accommodation, and more.

2.      Festive Shopping

Personal loans can also be used for big-ticket purchases. You can use the funds to buy electronics, home appliances, or even vehicles. This allows you to enjoy the festival season without the worry of upfront costs.

3.      Home Renovation

Dhanteras and Diwali are also popular times for home improvement. You can use a personal loan to fund home repairs, renovations, or upgrades that you have been putting off.

4.      Gifts and Celebrations

Festivals, and especially Diwali, are the time for giving. You can use personal loans to purchase gifts for loved ones, host dinner parties, or even plan large family gatherings.

To enjoy all these opportunities and more, consider applying for a Personal Loan from IndusInd Bank. We offer features, such as competitive interest rates, an easy and 100% online application process, no collateral requirements, and more so that you can celebrate without compromise.

How to Apply for a Personal Loan with IndusInd Bank to Buy Gold?

If you want to apply for a loan with IndusInd Bank to buy gold, here’s the simple process: 

• Start by providing basic details. This will include your name, contact information, and loan requirements. 

• IndusInd Bank will assess your eligibility based on the information. We will then fetch a personal loan offer as per your financial profile. 

• Next, complete the Video-Know Your Customer (V-KYC) process. You will also need to set up an auto-repayment option to ensure timely EMI payments.

• Now, you must sign the loan agreement digitally. After that, the loan amount will be disbursed instantly into your bank account. You can use the funds to buy gold on Dhanteraswithout delay.

Before you apply for a loan, consider using the Personal Loan EMI Calculator. This handy tool provides an estimate of the EMI amount as per your loan amount and tenure. You can adjust these factors to reach an EMI amount that is within your budget. 

Also Read: Instant Personal Loans- A Convenient Answer to Your Financial Requirements

Conclusion

Dhanteras is a time when many people make significant purchases, and gold is often preferred. However, if you lack funds, taking a personal loan offers a brilliant solution to help you make this auspicious purchase. 

Personal loans are an ideal solution not just to buy gold on Dhanteras but also for other festive expenses, from travel to shopping and home renovation.

You can make the most of the benefits of a Personal Loan by applying for one with IndusInd Bank. Enjoy a simple application process, flexible repayment options, competitive interest rates, and more! Apply now to make your Dhanteras celebrations special! 

Disclaimer: The information provided in this article is generic and for informational purposes only. It is not a substitute for specific advice in your circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for making any financial decisions based on the contents and information.