New Delhi, Sept. 3 -- Festivals bring their cheer to Indian households. But in sprucing up the home and wardrobe for festivities, the family budget goes askew.

If you are looking for support through loans to avoid dimming the festival lights, then loans against assets - fixed deposits, gold, shares, insurance, mutual funds, or property are often available at a lower interest rate compared to collateral-free personal loans.

The interest rate applicable to loans against securities or assets would be 10-12% per annum; however, unsecured personal loans would be available at an interest rate of 14-18% per annum.

"Loans against assets are available at a lower rate of interest than unsecured personal loans and are therefore preferred. Also, l...