A marriage is a cause for huge celebrations in India, and most weddings last up to 5 days. This means a large expense for most families, but to ensure that the event goes smoothly and without any problems, marriage loans can be essential. Because wedding celebrations are so important in India, there are of course many marriage loan providers to choose from. Use the chart below to compare the main elements of each marriage loan. What do you need to provide (documents) to make sure your application is approved? How much can you borrow? Before you apply, make sure you have considered how you will fit the loan instalments in with the rest of your current financial obligations. Please read the terms and conditions of all marriage loans thoroughly.
Compare Marriage Loans
Marriage loans are available to those seeing to finance their wedding
What is a marriage loan?
Wedding loans from are much like any other unsecured loan provided in that they’re available for a range of sums at competitive rates of interest and with a choice of repayment terms. Essentially wedding loans serve to provide the necessary funds to not only ensure that the occasion lives up to expectations but also take some of the preparatory worries out of the equation – allowing the soon to be happy couple and organisers to focus on more important matters.
Consider your marriage loan carefully
Seeing as the overall cost is often a major contributing factor to putting couples off marriage; wedding loans offer those with limited resources to invest in a life together – without having to do without as a consequence of the formalising of their union. Borrowing the capital to fund a matrimonial extravaganza is certainly a more acceptable means of financing your big day then selling all of your wedding gifts.
Try to keep costs down
The secret is deciding on a budget beforehand and sticking to it. Although it may not be possible to avoid debt altogether, it's a good idea to keep it short-term. Speak to a consultant in the early stages of planning your event, so that you know what financial options are available to you. If you are fortunate certain family members may offer to help pay for the event.
Where are you getting married?
A good venue will set the tone for your wedding. Remember that it might not be as cost effective as you may think to host the wedding in a private garden or household, because you may still have to rent tables, chairs, cutlery and all sorts of items that are necessary for the comfort of your guests. Music is another factor that can make or break a wedding. Live music is costly and a DJ can help to save money, especially if you engage someone who is just starting out in the business. Quality is important so it's a good idea to get referrals from friends and family.
Who can apply for a marriage loan?
Marriage loans are widely available in India and anyone can apply provided you fill out the application form correctly. Marriage loans are usually unsecured so you do not need to provide security for collateral.
Things to remember when applying for a marriage loan
Your wedding day is one to remember so to take the financial strain away and ensure you have the fairytale wedding you have always dreamt off by ensure you research your options carefully. Double check the small print, interest rates and any fees which might apply. Remember, if you pay off your marriage loan over a shorter period of time, the monthly payments may be higher but the interest over the life of the loan will be lower, so you will end up paying less in the long run. If you are in any doubt then you should seek independent financial advice.
When the planning starts for that special day in everyone's lives , There is always the worry and stress of how much strain it is going to put on your financial situation . Marriage loans are helping lots of people to ease this stress.
08 August 2015
Which Way To Pay
Marriage loans have been introduced to help prepare for the expense you will incur when celebration the most special day of everyone's life.
14 May 2015
Which Way To Pay
Marriage isn't a cheap affair that's why Marriage loans have proven so popular across India.
18 April 2013
Everybody who is about to get married will look into the different possibilities as to how to celebrate the wedding. To make the great day a memorable event, long planning is necessary and, depending on how many guests one wants to invite, on what kind of ceremony, party, location, entertainment, food, decoration one would like – and last but not least there is a wedding dress to think about.
17 August 2011
Which Way to Pay
There are lots of different kinds of loans available throughout India. Whether the loan is for a specific purpose, or is secured against a specific asset, it can get confusing as to which loan is best suited to your circumstances.