Onam is here…Time to get an Online Personal Loan!

Happy-Onam-2017

Introduction

Onam is here. One of India’s most revered and loved festivals, Onam also brings with it the promise of a good year and plenty of celebrations. We are in the midst of the 10 days festival, with today being the main day of Onam celebration. So Happy Onam to all our readers.

Onam also serves as a great opportunity for shopping. So, if you are wondering how to get the funds to spend on this Onam, we have the perfect solution for that. Loan Singh!

Before we spill the details, let’s look at the significance of Onam and why it is a shopper’s festival.

 

Onam

The festival of Onam is an annual Hindu festival, with origins in the state of Kerala in India. Onam is a major annual event for the Malayali people – in and outside Kerala. It marks the summer harvest and is celebrated with numerous festivities such as the famous boat races, tiger dances, flower arrangement, mask dance, martial arts, music, songs and dance. It is the New Year day for the Malayali Hindus. Onam is also the official state festival of Kerala, with public holidays starting for four days from Onam eve. Though a Hindu festival, non-Hindu communities of Kerala participate in Onam celebrations, making it a cultural festival. The carnival of Onam continues for 10 days in the state of Kerala. However, scholars say that during the earlier days, Onam was celebrated for a month and much more lavishly. Onam is still celebrated with gaiety and joy, on each of the 10 days of festivities. The mood of the people is upbeat all throughout the festival days. 10 days of festivities easily warrant a great spending spree towards shopping for new clothes, jewelry, gadgets, durables, religious items, etc.

Day 1

  • Atham is the first day of Onam
  • It is a day regarded as holy and auspicious
  • People bath early and offer prayers in the temple
  • The menu served in breakfast on day-1 remains the same till day-10, as well
  • Pookalam (flower arrangement) flower mat is laid in front of the courtyard
  • Pookalam is laid-out to welcome the spirit of King Mahabali who is said to visit Kerala at the time of Onam
  • In the following days, more designs are added to Pookalam, each day adding a different type of flower
  • A grand procession is carried out on the first day to begin the grand carnival of Onam
  • Elephants, fork art, music and dancing make the procession a spectacle

 

Happy-Onam-2017

 

Day 2

  • Chithira is the second day of Onam
  • Not any marked rituals, but prayers are offered in the mornings
  • Planning and discussions for the ‘main Onam’ is done on this day
  • Shopping lists are prepared
  • It is a day of wish fulfillment for everyone

Day 3

  • Chothi is the third day of Onam
  • Frenzied shopping can be witnessed at markets and malls, all over Kerala
  • New clothes, accessories, gadgets, electronics, etc. are purchased heavily
  • Gifts are bought for loved ones
  • Hyped by the media, shopkeepers come-up with insane discounts, offers and incentives to lure in customers
    It is important for everyone to have enough funds to purchase whatever they want

Day 4

  • Vishagam is the fourth day of Onam
  • Excitement and happiness is palpable across Kerala
  • Shopping continues on day-4, as well
  • Preparations for the elaborate meal of Onasadya gets underway
  • The making of various types of pickles, pappadums, vegetable, sweets are on full swing
  • The flower arrangement has grown since the first day
  • Women are dressed in their traditional attire singing
  • Flower arrangement competition is held across Kerala

 

Happy-Onam-2017

 

Day 5

  • Anizham is the fifth day of Onam
  • The key point of this day is the Snake Boat Race event called
  • The competition takes place on the banks of river Pamba
  • It witnesses a multitude of tourists and visitors from world over
  • Smaller snake boat races are held throughout the state
  • The boats are decorated and operated by hundreds of oarsmen

Day 6

  • Triketta is the sixth day of Onam
  • Cultural programmes and social gatherings are organized across the state
  • It marks the home coming for people living away from families
  • It is a time of get-together and gift sharing

Day 7

  • Moolam is the seventh day of Onam
  • Festive shopping reaches is zenith due to the nearing end
  • A year of wait for the coming of Lord Mahabali is almost complete, thereby increasing the joy

Day 8

  • Pooradam is the eighth day of Onam
  • Devotees create clay idols in shape of small pyramids
  • Each pyramid is decorated with flowers
  • The flower mat is almost colossal in size
  • More shopping on this day, for those who missed out on the earlier days
  • House cleaning for the arrival of Lord Mahabali

Day 9

  • Utradam is the ninth day of Onam
  • It is the penultimate day of the festival
  • There is jubilation all around as people welcome the spirit of Lord Mahabali
  • It is a public holiday on this day
  • Some call this as the first day of Onam
  • Families come together to bring produce, from their farms, to the eldest member in the gathering
  • Everyone then indulges in a sumptuous meal – presented by the elder

Day 10

  • Chants of Onaashmsakal (“To everyone, Onam wishes”) reverberate throughout Kerala
  • It is the most important day of the carnival of Onam
  • People believe that this is the day that the spirit of King Mahabali visits Kerala
  • Activities begin in the morning with prayers; bath and clay models of Lord Vishnu and King Mahabali are prepared in front of the flower mat
  • A strictly vegetarian grand feast called Onasadya is prepared
  • Consisting of 11-13 mandatory dishes, the Onasadya is served on banana plantains
  • The eldest member of the family presents gifts to the family members
  • Dances, games, shows, fire crackers, etc. are exhibited across Kerala

 

A festival for spending

Happy-Onam-2017

 

Since the on-set of Onam, and during the 10 days period, different brands in Kerala spend close to 40-50% of their annual budget over advertising. Close to 50-60% of consumer durables are sold during the Onam festival period. The message has to be apt, as items such as TVs, washing machines, jewelry, refrigerator, etc. need to be sold in plenty. Since years, there have been examples to indicate how much shopping happens during Onam

  • Traditional sellers of textiles and jewelry have always had a steady flow of customers, as Onam is all about dressing your best and giving gifts to your loved ones
  • The boom in mobile phones is apparent. What better gift for loved ones other than an iPhone or a Samsung
  • Online shopping has been a sure shot way to purchase dream products
  • Schools and colleges remain closed during Onam which allows the entire family to go out shopping and spend
  • Onam is also the time for Malayalis living abroad and outside of Kerala to descend to their native homes. This increases the population who go out to shop in large numbers
  • The planning and preparation of pujas, ceremonies, games and festivities also need spending towards shopping
  • Onam is Kerala’s biggest festival with employees given bonuses to spend on Onam shopping
  • With companies/brands also getting ready to test new products, this is the perfect time to do so with products from consumer durables to textiles
  • Another perfect opportunity for spending comes through the cascading of festivals in India
  • Firstly, Ganesh Chaturthi, then Durga Puja, then Onam and, lastly, Diwali – All these festivals follow each other and naturally trigger excessive spending. This goes on till Christmas and then Pongal (Tamil Nadu New Year)
  • Onam is the testing ground for big brands to target their advertisements for consumer durables
  • Promotional offers, exchange offers and extended warranty are just some of the features that are promoted during Onam
  • Print, TV, Radio and Social media marketing done by almost all brands keep the buzz alive
  • GST’s pre-and-post offers were a huge success and the timing of Onam will benefit the lenders and store owners, tremendously
  • The consumption will always exist. The brands have to hence create enough durables to be sold during the festive period

 

How to quench your shopping urge?

To cater to the 10 days of festivities during Onam, it is obvious that you need a source of funds to celebrate the festival in all its pomp and fervor. Personal loans are unsecured loans that are availed to meet these exact fund requirements. As it is an unsecured loan, it does not require any collateral.

The best place to get a really quick and easy personal loan is a digital lending platform such as Loan Singh. For salaried individuals, to gather up funds to celebrate Onam within a short span of time is possible only through digital means; as traditional banking solutions would take up to weeks to disburse the funds. For a personal loan, the borrower’s credit worthiness determines if he/she can pay the loan EMIs regularly and, that too, without straining his/her daily living. Your credit report acts like a gauge for Loan Singh. It shows how prompt you have been in your previous credit responsibilities and how trustworthy you are. Loan Singh is perfect because of

No collateral – Having no collateral gives personal loan an advantage over secured loan. Even if you do not own any fixed assets, you can at least get funds from Loan Singh.

Multiple purposes – A personal loan can be availed for a number of purposes such as shopping for Onam, purchase of household appliances, electronic gadgets, holiday travel, home improvement, relocation of job, medical expenses, home renovation, marriage, etc.

 

Being Loan Singh eligible

Before you begin the quick and easy application process at Loan Singh, check the following eligibility criteria required for a personal loan.

Salaried

To avail a personal loan from Loan Singh, you need to be a salaried individual with a monthly salary of minimum Rs.15,000.

Credit Score

Loan Singh looks at your credit score, to evaluate your credit worthiness, before approving the loan. A credit worthy borrower is someone who has been prompt in his/her previous loan EMI payments, maintains a good credit utilization ratio, has been paying off his/her credit card bill on time and has never overspent over the credit card limit. If you have never availed of a loan before, you will have no credit history. In that case, you need to be salaried for at least 3 months to be eligible for a loan at Loan Singh. The lower your credit score, the lower your chances of being eligible for a personal loan.

Age

You need to be at least 21 years of age to be considered eligible for availing a personal loan with Loan Singh. As mentioned above, you must be of Indian nationality and salaried, as well.

Financial stability

You need to have a stable monthly income. A good budget is advised to avoid times when you might find it hard to pay-off the loan EMIs.

 

Application process at Loan Singh

Not only is personal loan the best alternative for quick funds, Loan Singh’s quick and easy application process also helps you get the funds you need for any financial emergency. The process to get an easy and quick loan with Loan Singh is mentioned below:

Get Started Page – Select ‘PERSONAL LOAN’ from the dropdown and enter the loan amount with the desired repayment tenure

Registration page – Add your contact number, personal email ID and corporate email ID

Social Authorization – Connect your Facebook, Google+ and LinkedIn profiles for discounted rates

Profile Page – Fill in your name, gender, father’s name, number of dependents and PAN Details. We use your PAN Card Number to check your credit score and as a KYC document.

Address Page – Choose your type of residence; mention your street address, city, state and pin code.

Job Profile Page – Mention your current designation, total work experience, company name, highest qualification, last institution attended and monthly salary.

Financials page – Upload your latest 6 months bank statement either from your computer, GMail account or net-banking account directly.

Auto Debit Page – Provide permissions to your bank name, account number and IFSC code so that Loan Singh can auto debit the EMI amount from your account every month. This way you don’t need to set reminders or miss out on any loan EMI repayments.

 

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