5 Good Reasons to Use a Personal Loan for Wedding
In India, families go to great lengths to make a wedding in the house as special as possible because marriage is a lifelong event witnessed by friends and relatives.
Marriage ceremonies require a significant amount of money, regardless of the type of celebration, to reserve the location, caterer, lodging and travel for guests, decorations, entertainment, and videography. There can be numerous things on your wedding wish list, ranging from aerial photography to celebrations with a unique theme. You may also have to pay for the wedding attire and have a considerable amount ready for the honeymoon. In such circumstances, it may not be wise to use all your savings at once. Instead, you can easily pay for your anticipated and unforeseen wedding-related expenses with the help of a Personal Loan for a wedding, commonly known as a Wedding Loan.
Continue reading to learn the benefits of taking out Wedding Loans to pay for your ideal wedding.
#1 Collateral-free Loan to Style Your Wedding
Given the various customs, rites, and other details that go into weddings, such as lovely invitations and gifts for the guests, the costs are numerous and varied. A Wedding Loan gives you the freedom to personalise everything to your preferences. So you may plan anything, from a destination wedding to a certain stylist for the bride’s hair and makeup to a specific DJ to spice up the evening.
People sometimes are forced to sell their possessions due to the high cost of weddings. Many use their savings or break their Fixed or Recurring Deposits to cover their wedding costs. Remember, though, that there may be additional fees and penalties if you break any deposits before maturity. You can avoid liquidating your possessions or depleting your funds by taking out a Personal Loan for a Wedding.
Wedding Loans do not require you to pledge any collateral, making it even simpler to get the required funds. Additionally, it simplifies the application process and speeds up the approval process.
#2 Prompt Disbursal Allows You Plenty of Time for Wedding Preparation
Start planning your gala wedding as soon as possible to ensure a spectacular celebration. Quick approval and disbursal of funds from a Wedding Loan leave you with plenty of time to plan your dream wedding. You can use the loan amount to make required advance payments and confirm venue, hotel, caterer, stylist or makeup artist reservations. The easy online application saves valuable time and energy.
All you have to do is log in and submit an online application, which only needs a few minutes to accomplish by entering a few basic details. This frees you from the stress of loan processing procedures so you can focus on getting ready for the wedding ceremony. Once the funds are received, you can complete all the wedding rituals without hassles and make them memorable.
#3 Simple eligibility requirements allow you to concentrate more on Special Day
You can get quick approval for your Wedding Loan by fulfilling a few easy requirements. You must be a citizen of India between the ages of 21 and 65 to apply. A minimum credit score of 750 and a salary of Rs. 20,000-25,000 (depending on your city) are needed to qualify as a salaried professional. Your eligibility gets verified with a few simple documents. Once this is finished, you can use your valuable time to plan your wedding while your loan application gets processed.
#4 Personal Loan helps Cover Unexpected Expenses
You should anticipate some wedding-related expenses to exceed your estimated budget. Unexpected medical situations, power outages, or other problems could necessitate more funding. Your Personal Loan can help you in such situations. When you have money in your account, you can use it readily and repay it in monthly instalments.
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#5 Longer Repayment Tenures are Beneficial
It’s important to keep your payments stress-free so you may concentrate on other obligations after your wedding. Get a personal loan with a maximum term of 60 months. This will provide you with ample time for your EMIs. Longer tenure also makes EMIs affordable. Also, there is no unnecessary burden on your monthly budget. You can use the online EMI calculator to choose a loan amount and tenure with the lowest personal loan interest rates.
Ending Note
Now that you understand how and why to use Wedding Loans to finance your dream wedding, you can plan to make it memorable. Apply for a Personal Loan for a wedding with one of India’s leading NBFCs Fullerton India and get the lowest Personal Loan interest rates.
