Festival season is here — and so are special loan deals in Sikar. Whether it’s Diwali, Navratri, or a wedding at home, this is the best time to grab a personal loan with 0% processing fees and quick approvals. Here’s your complete guide.
Why Festival Season is the Best Time for Personal Loans
If you have been putting off a big purchase or urgent expense, festival season is often the most affordable time to borrow. Lenders compete to attract customers during this period with lower interest rates, no processing fees, and cashback offers on popular spends like electronics, gold jewelry, and home appliances. In Sikar, you will see posters at Sanwali Circle, Bajaj Finance counters in malls, and even local cooperative banks advertising “Festival Dhamaka” loans.
It’s perfect for short-term needs like home renovation, medical expenses, festive gifting, or travel. But avoid using personal loans for very long-term needs like buying property or funding business expansion — those are better served with structured term loans at lower rates.
Personal Loan Near Me in Sikar — Where to Find the Best Offers
Sikar has a vibrant lending market with branches of major banks, NBFCs, and fintech partners operating locally. Here are some options:
- Local bank branches: SBI, HDFC Bank, ICICI Bank, PNB, Axis Bank – offer festive-rate personal loans and same-day approval if you are an existing customer.
- NBFCs & Finance Companies: Bajaj Finserv, Tata Capital, Hero FinCorp – specialize in quick disbursals with minimal paperwork.
- Fintech apps: LazyPay, KreditBee, CASHe – fully digital process, suitable for small-ticket loans.
Pro Tip: Infinity Finance (near Sanwali Circle) can compare all options for you and suggest which lender can disburse fastest based on your profile.
0% Processing Fee — What It Means and Who Is Eligible
Normally, lenders charge 1–3% of the loan amount as processing fee. During festivals, many lenders waive this fee entirely or offer cashback equal to the fee amount. This means if you are borrowing ₹2,00,000, you save ₹2,000–₹6,000 instantly.
Eligibility usually requires:
- Good repayment history and credit score above 700
- Salary account or existing relationship with the lender
- Applying within the campaign dates (usually 15-45 days around Diwali)
Tip: Even with 0% processing, check the final interest rate. Sometimes lenders keep rates slightly higher during campaigns — compare net savings.
Step-by-Step Guide to Avail Festival Offer Loans
Step 1: Check Pre-Approved Offers
Start by checking SMS or email offers from your bank. Many banks offer “instant loan” eligibility that takes 60 seconds to check. If you don’t have pre-approved offers, you can still apply via Infinity Finance or lender websites.
Step 2: Compare Lenders
Shortlist 2–3 lenders based on interest rate, disbursal speed, and documentation needed. Banks may offer lower interest but take slightly longer, while NBFCs are usually faster but charge slightly higher rates.
Step 3: Keep Documents Ready
- Aadhaar & PAN card
- Salary slips (last 3 months) or ITR (self-employed)
- Bank statements (last 3–6 months)
- Cancelled cheque
- Passport-size photograph
Step 4: Apply Online or Visit Branch
Most lenders now allow uploading documents online. Ensure you upload clear images to avoid rejections. If you prefer offline, visit the nearest branch with originals.
Step 5: Complete KYC & E-Sign
You may receive a verification call and OTP for final approval. After e-signing, funds are usually disbursed within hours.
Step 6: Receive Funds in Your Account
For most customers in Sikar, loan amounts are credited on the same day if applied before 12 noon. For NBFCs, disbursal is near-instant after final approval.
Festival EMI Calculator — Estimate Your Monthly Payment
Example: A ₹2,00,000 loan at 10.5% interest for 24 months gives an EMI of approximately ₹9,300. This can be easily repaid if your monthly income is ₹35,000 or more. Use Infinity Finance EMI Calculator to try different amounts.
Tips to Get Faster Approval in Sikar
- Apply early morning for same-day approval.
- Use your salary credit bank account for faster verification.
- Keep credit score 700+ to avoid manual checks.
- Choose digital KYC to avoid branch visit delays.
Common Festival Loan Scams to Avoid
- Never pay upfront “release charges” to unknown agents.
- Do not share OTPs or banking passwords over phone.
- Verify lender’s registration on RBI or NBFC website.
- Read terms carefully before signing e-mandates.
Special Local Tie-Ups in Sikar
Many lenders have partnered with local jewellers, appliance stores, and car showrooms in Sikar. This means you can get additional cashback or EMI discounts on festival purchases. Check with:
- Jewellery stores: Malpani Jewellers, Soni Ji Ki Shop
- Electronics: Reliance Digital, Croma (if nearby)
- Two-wheelers: Hero MotoCorp, TVS dealers
Conclusion
Festival season is the best time to unlock special loan benefits — lower fees, faster approvals, and store tie-ups that save you money. Don’t wait until the last moment. Check your pre-approval now and get your loan credited before the festival rush ends!
FAQs
Q: Can I get a personal loan in 24 hours in Sikar?
A: Yes, many lenders offer same-day disbursal if you are an existing customer and have complete documentation.
Q: Which banks offer 0% processing during Diwali?
A: HDFC Bank, ICICI Bank, Axis Bank, and SBI usually run festive campaigns with processing fee waivers.
Q: Do I need a good credit score?
A: Yes, a score of 700+ ensures best rates and instant approval. Lower scores may face rejections or higher interest.
Q: Can self-employed get festival loans?
A: Yes, submit last 2 years’ ITR and GST returns. NBFCs are generally faster for self-employed profiles.