Weddings are notorious for being elaborate and expensive affairs. Right from the bridal trousseau and jewellery, to hall fees, catering and gifts for guests, the bills can be very high. But that doesn’t mean you should let money get in the way at the most important time in your life. Make the occasion memorable for you and your family. You can take out a wedding loan and make sure you all have something to celebrate, without having to worry about the costs.
When it comes to financing your wedding, you are unlikely to have enough savings to meet the costs. The best option is through a loan, most banks and NBFCs offer wedding loans. and you can request one to cover the costs.
What is a wedding loan?
Essentially, a wedding loan is a personal loan taken out to meet the expenses of the wedding. A personal loan for a wedding can cover costs such as the purchase of jewelry for the bride, the cost of the venue, guest accommodation costs, catering costs, decorator costs and other professional services that you the ceremony usually requires.
Usually, the bank checks your income and credit score before deciding how much loan they can offer you. The higher your income and credit score, the better your chances of getting loan approval.
Before applying for a loan, it is recommended to obtain a rough estimate of the expenses. Depending on your eligibility, you will be able to find out what amount of loan you can get. This way you can plan your wedding accordingly.
Why do I need it?
Besides the usual wedding expenses, there may also be sudden expenses. If you suddenly decide to livestream your wedding to your extended family who weren’t able to attend, you’ll need to plan for that as well. All of this requires money, so it’s best to be prepared.
Destination and themed weddings are all the rage right now. These can be very expensive. Guest transportation, themed decor, coordinating costumes and more make these events one of the most expensive wedding ceremonies you’ll find anywhere. It’s no surprise that most of us don’t have the ability to afford all of this through normal means. That’s why a loan can be one of the best things you can get.
You might be worried about taking personal loan interest rates that are high. You may not want to start your married life in debt. If so, you can borrow from your parents, friends or family without interest.
How to register?
Applying for a wedding loan is a simple process. You can also apply for it online and meet the document requirements to process the loan application.