- 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 personal loan can make your dream wedding a reality without the need to worry about finances. Since a wedding loan is a personal loan, you can use it to cover all expenses without any restrictions. Here’s how a wedding loan can ease the pressure.
Meet all your expenses
Whether it’s booking a hall or decorating the venue or providing refreshments to guests, planning a wedding involves multiple expenses that can burn a hole in your pocket. On top of that, there’s the need to buy jewellery and a wedding trousseau. So why should you consider taking a wedding loan? Well, it can help to meet sundry expenses associated with the function and beyond – such as your honeymoon.
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 an easy and affordable way to help you fund them. If you have a good credit history, you can get a loan 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, you can get an instant approval for your wedding loan. Once the amount is sanctioned, it is disbursed quickly and you have instant access to the money.
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/recurring 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 loan to cover your wedding expenses, your investments get a chance to grow uninterrupted and you realise full returns on them.
Your wedding is a once-in-a-lifetime event. Don’t shy away from making it as special and as grand as you desire. Apply for a wedding loan and you can plan a stress-free event! Lastly, look at these commonly forgotten wedding costs that can bust your finances.