Are You Planning A Wedding? A Marriage Loan Helps Financial Stress
Weddings are a joyous occasion for any family. Weddings, on the other hand, can be expensive. With rising costs and inflation, the wedding fund you set aside may not be sufficient to cover current expenses. There may also be additional unanticipated costs. In such a case, obtaining a personal loan can be extremely beneficial in terms of managing finances and meeting the capital requirements for the wedding. Here’s everything you need to know about getting a personal loan for a wedding, as well as marriage loan eligibility.
Step 1: Select Your Ideal Lender
Personal loans for weddings are available from a variety of finance companies, including NBFCs and banks. Because interest rates, tenure, and repayment options differ from one lender to the next, it is best to compare them to find the best one for your needs. One rule of thumb is to use a reputable company with a good loan track record.
Step 2: Eligibility for a Personal Marriage Loan
Knowing that the loan amount will be used for marriage, you only need to meet the lender’s eligibility requirements. In general, salaried employees should be between the ages of 23 and 60. If a self-employed person has been in business for more than three years and is between the ages of 25 and 65, he or she is eligible for a marriage loan.
Step 3: Obtaining a Personal Loan
Once you’ve decided on a lender and met the loan requirements, you can apply for a personal loan online or in person. The online loan application process is initiated by visiting the lender’s website and completing an application form, completing e-KYC by providing valid documentation, and selecting the loan amount and tenure. You can also apply offline by visiting the lender’s nearest branch.
With IIFL, you can apply for a personal marriage loan.
Weddings are a rite of passage in one’s life and necessitate continuous capital. As a result, it is preferable to obtain a personal loan for marriage and have enough capital to see the wedding through to completion.
IIFL Finance is India’s leading financial services company, offering comprehensive and customized personal loans to meet wedding capital requirements. The personal marriage loan provides quick disbursement of funds up to Rs 5 lakh. You can apply for the loan online by verifying your KYC details, or you can apply offline by visiting the nearest IIFL Finance branch.
Conclusion
If you’re planning a big, fat wedding, a personal loan can come in handy. Furthermore, the entire loan application, disbursement, and repayment process is online and mostly paperless.
However, make sure to approach a reputable, regulated lender like IIFL Finance so that the process goes smoothly. Within a few hours, IIFL Finance approves and disburses personal loans up to Rs 5 lakh. It also allows you to check your loan account details and repay using a variety of methods, including UPI-enabled apps like Google Pay, PhonePe, and Paytm. Then you can get busy with wedding preparations and make your big day truly memorable.
Read More – 5 simple techniques to find the best personal loan
