Personal Loan for Weddings for the Upcoming Wedding Season

Get an Instant Wedding Loan for A Memorable Wedding This Season

A wedding is an important event in your life and should be planned without any financial crunch. But how? Although nobody wants to spend beyond their capacity and budget, several unexpected expenses may crop up at the last minute. It can be making a hotel booking for more guests than expected, a last-minute venue change, or any other such situation. Each of these situations demands instant cash, which may not be available due to other prior commitments.

Here, a personal loan for wedding, commonly known as a wedding loan, is helpful. It can be availed online from NBFCs and lending institutions.

Read this guide and understand how you can get a quick wedding loan on easy terms and conditions.

Why Should You Go for A Wedding Loan?

A wedding loan can help you make your wedding an event to remember without money problems. Before you apply for a personal loan for a wedding, there are several things you should know about these loans to have a better idea of their usability.

Wedding Loans can be used to pay for the little and big things, whether planned or unplanned.
Many expenses crop up at the last minute, but you shouldn't worry about such expenses with wedding loan funding.
After checking the eligibility criteria, you can apply for a personal loan for weddings online. The approval & disbursal process is quick, which saves a lot of time.
Wedding loans can help increase or improve your credit score when you pay the EMIs on time, every time.
Wedding loans are unsecured, so they do not require you to provide collateral.
Wedding loans are available with competitive interest rates without any hidden charges.
Wedding loans come with flexible repayment tenure of 12-48 months.

How do Interest Rates Affect the Cost of Your Wedding Loan?

Choose the financial institution that offers you the most competitive interest rates; even a 0.5% higher/lower rate can impact your EMI amount. Notably, your eligibility and credit score are the main factors affecting your loan interest rate. Also, choosing the right repayment tenure can affect your interest rate payable. A longer tenure will reduce your EMI while increasing the interest rate, while a smaller term will increase the EMI amount but lower the payable interest rate.

You can use the personal loan EMI Calculator, a free-to-use online tool available on the websites of reliable lending institutions, to calculate your loan EMIs beforehand by entering the loan amount, loan term, and interest rate.

Factors to Consider Before Deciding on a Wedding Loan

Here are key parameters that you must consider before applying for a wedding loan:

Get A Loan Online

Consider applying for a wedding loan online to enjoy convenience, save time on visiting the lending institution's office, and get quick approval and instant disbursal. In India, a few lending institutions like Clix Capital have a 100% online process for personal loans, including wedding loans.

You can apply for the loan from the comfort of your home or office using your laptop or smartphone.

Ample Loan Amount

You can get a loan of up to Rs 10 lakhs with minimum documentation online without any hassle, provided you have a credit score of 630 or above.

Easy Eligibility Criteria

Wedding loans are unsecured loans which do not require you to provide collateral. You can take these loans using basic documents like identity, address and income proofs. You don't need to upload or submit the documents if your KYC is updated with your Aadhaar and PAN. You can get them verified online within a matter of minutes.

Also, ensure you meet the age (21-58), salary (at least Rs 20,000), and employment requirements (at least one year experience with six months in current company) of the lending institutions.

How to Apply for a Quick Wedding Loan in India?

You can get your loan amount in your account quickly in just three steps:

Apply on the lending institution’s website by registering through your mobile number and filling out an online application form.
Upload documents like your Aadhar card, PAN card, and salary slips, and wait for instant verification and approval.
Once verified, get the loan amount directly into your account.

Conclusion

Marriages demand a variety of financial commitments. A personal loan for weddings allows you to easily pay for all the expenses covering various overheads and bridging the financial gap.

Wedding loans come with attractive interest rates, ample loan amounts, favourable terms, easy eligibility criteria, and minimal documentation to help you make your wedding a memorable event.