Your wedding has to be one of the biggest events of your life that you may want to become memorable. You will marry just once, and you can’t leave it as an ordinary affair due to lack of funds.
If you don’t have the required funds to make your marriage a grand affair to cherish for years to come, then you can go with many options. And one of them is opting for a wedding loan. Do you want to know more? Read on!
- Taking a wedding loan
A wedding loan is an extension of a personal loan that has been designed by leading lenders such as banks and NBFCs in India to provide funds exclusively for the wedding. If you have the required marriage loan eligibility, then you can get up to Rs.25 lakh.
Have a look at the benefits of applying for a wedding loan in India:
- A higher loan amount – Based on your loan eligibility, you can get up to Rs.25 lakh at competitive wedding loan interest rates. There is no restriction on the uses of a marriage loan fund.
- Quick approval – You can get the loan approval instantly after you submit the loan application online on a lender’s website.
- Money in your bank in 24 hours – Once you have the marriage loan approval, your lender can credit the approved loan money into your bank account within 2 hours.
- Loan repayment within 5 years – Availing a wedding loan does not mean paying a higher EMI, especially when you have just got married. Reputed lenders in India let you choose a tenor of up to 60 months to help you repay smaller EMIs. However, stretching your loan repayment over a longer tenor may lead to paying compounded interest. Thus, you should assess the same well in advance.
- Mortgaging or liquidating an asset
The next method to smartly finance your perfect wedding is using your assets like property, gold, shares, fixed deposits and more. You can either mortgage them or liquidate to get funds to arrange your wedding. However, the final disabused loan amount against these assets may be less what you may need.
- Borrowing from family and friends
It is a conventional method to arrange for funds needed in a wedding. You may ask your friends and family members to provide you with cash. However, you may not have the guarantee of getting an exactly needed amount. Hence, you may have to look further.
You are now aware of all wedding finance options that you can opt for to have a dream destination wedding, theme marriage or as per your preferences.
Out of all funding alternatives, here are some reasons availing loan for wedding is one of the best options to get a higher amount of money. If you are all set, then you can apply for a marriage loan online and get started now.
Bajaj Finserv extends pre-approved offers on personal loan, home loans, credit cards, business loans and more. Such deals can help to simplify your loan formalities to make it less time-consuming. You only have to share your basic details such as your name and contact number to explore your pre-approved loan offers now.