Your marriage is probably the most important day of your life. Couples take all efforts so that their wedding leaves a perfect memory for them to look at in future and bask in the glory.
However, when you dream of having a laving wedding, it also means an expensive affair. Even if you consider exhausting all your savings, even then some couples may face financial issues while planning their dream upcoming wedding.
Nonetheless, the issue of lacking money should not force you to compromise on your dream of having a grand wedding when you have a personal loan for wedding to help.
Yes, many online financial companies are offering personal loan for wedding at a lower interest rate if you have the required creditworthiness. Before you decide to apply for a personal loan for wedding, it would be good to know more about it.
What is a personal loan for wedding?
A personal loan for wedding is nothing, but an extension of or a type of personal loan which you can borrow to cover the cost of your marriage. A personal loan for wedding is also an unsecured loan just like any other personal loan. It means that you don’t have to keep any security or collateral, unlike a home loan.
Thus, in case if you are unable to repay your personal loan for wedding, your assets such as homes or other things do not come under the risk of being confiscated. All that you need is having a good credit score, a clean repayment history, a stable income and a consistent job.
An online personal loan for wedding can give you access to money up to Rs.25 lakh with instant online approval and a quick money disbursement in your bank account.
Personal loan for wedding benefits at a glance
Here are some immediate benefits of an online personal loan for wedding such as:
●When you subscribe for a personal loan for marriage, you are well aware of the Equated Monthly Instalments (EMIs) that you need to pay. It is a crucial aspect and knowing this inside out helps you a better planning of your monthly financial budget without any further hassles.
●A personal wedding loan may not go out of your hand when you know how much you will be able to repay and in what time. As a result, repayment of the borrowed amount may not be an issue as you are free to opt for a tenor that suits your affordability the best.
●A good credit score, decent repayment record, and other factors can help you get a lower rate on loan. You can also reduce the personal loan interest rates by zeroing on shorter repayment period.
●Since your personal loan for wedding is an unsecured loan, your assets are never at risk unlike home loans if you fail to service the loan in time.
The Bottom Line
A personal loan for wedding is a handy financial solution for couples looking to have a dream wedding of their choice. Now that you know the basics and benefits of a personal loan for wedding, you can apply now online and make the most of it!