Finance

7 Reasons to Get a Personal Loan to Finance Your Wedding

Planning a wedding, especially in India, is not an easy task as there are many expenses and responsibilities that come with it. You may have always dreamed of having a fancy wedding, but that does not mean exhausting all your savings and face future issues.

But, that leads us to the question of how to then fund your dream wedding? You don’t need to worry at all as there is a finance alternative to manage all without issues.

Have you heard about the wedding loan? A wedding loan is especially designed to cater to your expenses of the marriage. Yes, as per your wedding loan eligibility, you can get up to Rs.25 lakh from leading lenders.

If you want to know how a wedding loan can help you with your expenses, then this short post is a must-read for you!

  • Get a higher loan amount

Once you apply for the wedding loan online, then your application gets processed super fast. If you have the required eligibility and your basic documents related to personal, financial and employment is in order, you can get a higher loan amount of up to Rs.25 lakh.

  • Use the funds for any wedding related expenses

No matter what your needs, you have the liberty of using the wedding loan funds as per your wish. From catering to jewellery to guests’ accommodation to gifts and whatnot, you can use the loan amount to cover your needs without restrictions from lenders.

  • Choose your loan EMI and pay as per your repaying capacity

Once you avail a wedding loan from a leading lender, you don’t have to worry about paying the entire amount soon. You can get up to 60 months to repay the loan. Hence, you can divide the loan over a long tenor and pay small EMIs.

  • No need to liquidate your savings and assets

A wedding loan is an extension of a personal loan, which is designed for covering your marriage needs. It is an unsecured loan, for which you don’t have to put down any collateral or security. You get personal loans based on your eligibility set by lenders and Cibil score. If you have a Credit score of 750 or more, then you can grab the loan approval at a competitive rate of interest without liquidating savings and assets.

  • Easy to meet wedding loan eligibility

You don’t need to submit many documents to prove your wedding loan eligibility. Here are some standard loan eligibility conditions to fulfil:

  • You should be a residing Indian citizen
  • Your age should be between 23-55 years
  • You should be employed with MC, public or a private limited company
  • Basic KYC documents
  • Your employee ID Card
  • Last 2 months’ Salary Slips
  • Previous 3 months’ Salaried Bank account statements
  • Get money in your bank account within 24 hours

Prominent lenders know that you are availing a wedding loan for immediate purposes, and can’t wait for ages to know if their application has been accepted or rejected. Hence, when you apply for a wedding loan in India online, then you don’t have to wait for the desired loan amount to be credited into your bank account. You can get money into your bank account as fast as within 24 hours.

  • Competitive rate of interest

Many borrowers don’t apply for a marriage loan owing to a higher wedding loan interest rates. But, if you have managed a higher CIBIL score and are well employed, then you can get wedding loan interest rates at a lower rate to help you repay without hassles.

If you are short of funds to organize a fancy wedding, then you can apply for a wedding loan online and get instant approval. This way, your assets and savings won’t be liquidated, and you will be able to enjoy the wedding as would be repaying in EMIs.

Bajaj Finserv presents pre-approved offers on financial products such as personal loans, home loans and more. It can simplify your loan procedures and make it less time-consuming. You only need to share your basic details such as your name and mobile number to discover your pre-approved loan offers today.

 

 

 

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