- Date : 27/02/2021
- Read: 3 mins
Avail of a personal loan to fund your wedding-related expenses and make your big day more affordable.
Your wedding is a significant and auspicious event that you will cherish for a lifetime, so you would naturally want to make the day memorable. However, extravagant Indian weddings also cost a fortune. So, despite all the planning and budgeting, you can easily overshoot your budget.
What if we told you that you don’t need to compromise in any way while celebrating your big day? Yes, a marriage loan can make your dream wedding a reality without the need to worry about the finances. Wedding loans are a type of personal loan, and you can use it to cover all expenses without any restrictions. Here’s how a wedding or marriage loan can ease the pressure.
Meet all your expenses
Whether it’s booking a hall or decorating the venue or providing refreshments to guests, the wedding budget involves multiple expenses that can burn a hole in your pocket. On top of that, there’s the jewellery and wedding trousseau to buy. A wedding loan can help you meet all these expenses and beyond (read the honeymoon).
Related: 7 Tips to organise a wedding during the pandemic
Tweak the EMI and loan tenure
One of the main advantages of taking a wedding loan is the flexibility it offers in terms of repayment. Banks understand the significance weddings have in our country and try to offer affordable marriage loan interest rate to help you fund them. If you have a good credit score, you can get a loan (even a pre-approved one for that matter) at a very competitive interest rate. Also, banks allow you to customise monthly instalments and choose a repayment schedule that matches your income, cash flow, and financial goals so that it doesn’t pinch your wallet. Typically, banks offer a repayment tenure of 1 to 5 years
Enjoy hassle-free disbursement
With a convenient application process that can be done online with minimal documentation required, you can get an instant approval for your wedding loan. Once the amount is sanctioned, it is disbursed quickly. You can even track your application status online. It can reach your account in just a few days so you have instant access to the money.
Related: 7 Easy steps to invest in gold for your wedding
Do away with the need to liquidate assets
It’s no secret that weddings are expensive. To pay for them, some people dip into the savings accumulated over the years, or liquidate their assets, or feel compelled to break fixed deposits before they mature. However, it is important to note that doing so attracts penalties and charges, and you also lose interest on your deposit. But if you take a wedding loan to cover your expenses, your investments get a chance to grow uninterrupted and you realise full returns on them.
Your wedding is an once-in-a-lifetime event. Don’t shy away from making it as special and as grand as you desire. Apply for a loan and make all your dreams about getting married come true!