Indian weddings are grand and lavish events that demand a heavy expenditure. But instead of worrying about miscellaneous expenses and using your accumulated savings, you can take a personal loan for wedding, commonly known as a wedding loan, to organise things well and ensure everything is perfect. After all, a wedding is a lifetime event, and anything should not be compromised, especially due to a lack of funding.
Get the best location, the most glamorous wedding dress, the perfect cocktail, sumptuous food, and attractive décor for your wedding without worrying about the funds!
Why Prefer Wedding Loans?
A Wedding Loan is the ultimate funding source for salaried professionals, available without many formalities. It can make your enchanting wedding dreams come true. You can get instant wedding loans with simple eligibility criteria, minimal documentation, quick verification and approval, and flexible repayment terms.
Wedding loans can make weddings truly memorable irrespective of whether your wedding is small or extravagant.
Taking out a personal loan for weddings online with a tenure according to your ability to repay can cover miscellaneous wedding-related expenses without burdening your financial health. You can repay the loan in equal monthly instalments (EMI).
So why rely on your savings when you can get a Wedding Loan quickly and easily?
Let’s look at what you need to do to get an instant wedding loan.
Features and Benefits of Wedding Loans
When applying for a wedding loan online, the objective is to get quick funding to make your wedding day unforgettable.
Here are the key features and advantages of online personal loans for wedding:
- Easy online application with quick verification
- Unsecured loan with no collateral required
- Instant approval and disbursement of funds
- Minimum and paperless documentation procedure
- Flexible repayment tenures of up to 48 months
- No hidden costs – everything is transparent
What’s more, you can calculate EMIs using a Personal Loan Calculator, a free-to-use tool available on the websites of top lending institutions, before applying for the loan online.
Wedding Loan Eligibility Criteria
You can easily get a wedding loan by meeting some basic eligibility requirements of the lending institution. Here are some of the parameters that you need to fulfil to get a personal loan for wedding online:
- Minimum monthly salary of Rs. 20000 with an employment period of at least 12 months with six months in the current company
- Age between 21-58 years
- A credit score of 630 or above
Documents Required for a Wedding Loan
You can get a wedding loan with the basic documents required to validate your identity, residential address and income.
Here are the documents required for the wedding loan:
- Identity proof – Aadhar card or Voter ID
- Address proof – Aadhar card or Voter ID
- Income proof – Last three months’ salary slips or current year’s Form 16
How to Apply for a Quick Wedding Loan in India?
Applying for a wedding loan online is extremely simple and hassle-free. Just follow the below steps to apply on the lending institution’s website and get instant approval.
Step 1: Visit the website of the NBFC and click on Personal Loan – Wedding.
Step 2: Register with your mobile number and fill out the application form with personal and professional details.
Step 3: Wait for the verification and approval.
Step 4: Once approved, you will receive the loan offer.
Step 5: Accept the loan offer and get funds disbursed to your account instantly.
Weddings are all about fulfilling a dream, and this is the time in your life when you don’t want anything to be compromised. An online personal Loan for the wedding can cover all wedding-related expenses easily. So plan a memorable wedding without worrying about finances with a personal loan for wedding.
Amaira sharma is finance expert and former business growth strategist who has more than 8+ years experience in the industry, now she helps others to get better financial stability and standards. She loves to write useful tips on personal finance and businesses.