You may not believe it, but India sees more than 10 million weddings per year. Indian weddings are mostly lavish, and the wedding industry has gained momentum over the years. It is because marriage ceremonies are becoming grander with time.
Nonetheless, with rising expenses, weddings have also become costlier. On the other hand, people dream of having a luxurious marriage, and that means spending more. People save for years for the D-day, but it may fall short considering the rising expenses. It is where personal loans have come to the rescue.
You can finance your wedding by availing the personal loan wedding facility online.
If you wish to know how the wedding loan can help you finance your wedding or let you implement wedding decoration ideas, this post is for you!
What is a wedding loan?
A wedding loan is an extension of the personal loan designed by lenders to meet the financial needs of the marriage. Based on your eligibility, CIBIL score, and other aspects, you can get a large loan amount to manage all wedding expenses.
What benefits does the loan provide?
The personal loan wedding facility is loaded with plenty of features. Have a look:
A significant loan amount
The wedding loan comes with a large loan amount of up to Rs.25 lakh, and it may vary from lender to lender. You can use the loan money for giving shape to your wedding decoration ideas. It can also be used to accommodate guests, catering, gifts, booking honeymoon and more. No matter what you wish, you are free to use the marriage loan money for all.
Lenders are aware that you are applying for the wedding loan to use the money instantly. Hence, they don’t keep you waiting. If you have the required creditworthiness, then you can enjoy instant loan approvals by reputed lenders.
Money in your bank within 24 hours*
Once you have got the approval for the loan for the wedding, renowned lenders don’t take time to disburse the loan amount. Most of them may take only up to 24 hours* to credit the sanctioned money into your bank account.
Flexible repayment tenure to help you manage your finances
After you avail the wedding loan, you don’t have to worry about making hurried repayments and hamper your outlays. Top lenders in India let you repay the loan over the flexible repayment tenure of up to 60 months. It means that you can plan your finances and don’t strain your wallets when starting a new phase of your life.
However, the only demerit of choosing a longer tenure is to manage higher loan interest charges. But you can reduce it by making time to time prepayments. On the other hand, a shorter tenure may lead to bigger EMI payments but saving on the interest portion.
Do you want to know how to get a personal loan online? You can land on the website of the lender that you wish to apply for the loan with. You can fill the form with your personal, financial, and income details.
After you enter your desired amount and tenure, the representative of the lender will contact you. It will be to collect documents from your doorsteps.
If everything is good to go, then your personal loan application will be approved. Also, your sanctioned amount will be credited into your bank account within 24 hours*.
You can start applying for the loan online by following the above ways.
It may vary from lender to lender, and you may check the exact method enlisted on their websites. Bajaj Finserv presents pre-approved personal loan offers and more to ease off the loan processing.
You can check out your pre-approved loan offers by sharing your basic details like your name and mobile number.