The news is by your side.

Small-ticket loans: How to start your credit journey amid the festive season?


The Christmas season in India is much more than a time of celebration. It is a time when families come together, houses are decorated with lights and decorations, and everyone looks forward to the joyous times ahead. But in recent years, the Christmas season has taken on another dimension—it’s now a great time for many people to start their journey into the world of credit. Millennials and Gen Z are more excited about the new things they can do with credit than just the idea of ​​credit itself.

This change in perspective is quite significant. Access to credit is now a vital part of our financial lives, and the impact it has on purchasing goods and services is much more. It is important to emphasize how credit can significantly affect various financial opportunities, such as future loans, mortgages, and even job prospects.

The importance of a good credit score

Understanding the importance of good credit score necessary. It acts as your financial report card, and has a major impact on various aspects of your financial life. Lenders rely on your credit score when you apply for loans, so a higher score is key to increasing your chances of loan approval and getting favorable terms such as lower interest rates. A strong credit score can also lead to lower interest rates on loans, leading to significant savings over time. In addition, it plays a key role in mortgage approval, job prospects, credit limit increase, providing you with better financial flexibility.

Advantages of small loans

Small loans, especially during the Christmas season, offer a great starting point for those with poor credit. They have various advantages, including lower risk due to smaller loan amounts, and providing an opportunity to practice budgeting. In addition, they help establish a credit history, a critical factor in building a high credit score. Getting small loans approved quickly is beneficial, especially when you want to make quick purchases for the festive season. In addition, these loans often have lower interest rates compared to larger ones, resulting in savings on interest payments while building your credit history.

Festive season offers and discounts

The Christmas season in India is a time of great celebration and joyous extravagance. It’s that special time of the year when people eagerly indulge in shopping sprees, fulfilling their desires for a wide range of goods, including the latest home appliances and electronics, trendy lifestyle products, exquisite gold jewellery, stylish home decor, and exciting travel packages.

Retailers, whether they operate online or have brick-and-mortar stores, understand the festive spirit sweeping across the nation this time of year. To capitalize on the festive fervor and attract customers, these retailers offer a plethora of attractive discounts and irresistible deals. For individuals who are new to the world of credit, this festive season will be a great opportunity to maximize these offers and embark on their credit journey.

Ideal credit options for the festive season – personal loans and credit card loans

The Christmas season brought a wealth of offers from banks, e-commerce giants and other big brands, all aimed at capturing the hearts and wallets of avid shoppers. Personal loans also offer collateral-free financing, making it a preferred option. In addition, they are accessible and budget friendly. On the other hand, credit card loans offer convenience and flexibility to cardholders, allowing them to convert purchases into installment plans and enjoy rewards and cash back benefits. Both credit solutions help build and strengthen your credit history, ensuring a brighter financial future in the process.

In short, the festive season is not just about celebration; it is the perfect time to start your credit journey. Building a good credit history opens doors to financial opportunities. For credit newcomers, starting with small loans is a smart, low-risk move. Small loans offer manageable repayments, budgeting practice, and an opportunity to establish credit.

The Christmas season also brings discounts, making it a great time for loans. Whether you choose personal loans or credit card loans, No Cost EMIs, or Buy Now Pay Later options, these financial solutions allow you to celebrate while establishing a solid credit history. As the festive season begins, start your journey with small loans for a brighter financial future.

Akshay Mehrotra, Co-Founder & CEO, Fibe

Milestone Alert!Livemint tops the charts as the fastest growing news website in the world 🌏 Click here for more information.

Get the latest Business News, Market News, Breaking News Events and News Updates on Live Mint. Download the Mint News App for Daily Market Updates.


Updated: 16 November 2023, 01:14 PM IST

Denial of responsibility! is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – at The content will be deleted within 24 hours.

Read original article here

Leave A Reply

Your email address will not be published.