WHAT EXACTLY IS A MARRIAGE LOAN?
A modern marriage comes with its fair share of frills, thrills, and, of course, bills. An equal lifetime as partners, with all of life’s highs and lows, pleasures, and sorrows for better or worse, must begin with equal financial responsibility for your wedding. You can use a Personal Loan for Marriage to pay for anything linked to your wedding day. A wedding loan can help you complete all of the financial gaps, from covering the venue booking fee to meeting other minor expenses.
What Are the Benefits of Taking a Marriage Loan?
Taking out a personal loan for a wedding has several advantages:
- Application over the internet
- There will be no collateral.
- Nominal Documentation
- Quick Processing
- Options for Flexible Repayment
What are the requirements for a marriage loan?
The following are the fundamental marriage loan eligibility criteria: – Age – If you are between the ages of 21 and 58, you are eligible to apply for a wedding loan.
Monthly income — To be eligible for a marriage loan, you must earn at least Rs. 20,000 each month.
Work stability – Only salaried employees with two years of experience are eligible to apply. To qualify for a personal loan for marriage, you must have worked at your current business for at least six months.
What documents are necessary for a marriage loan?
To validate your application and approve the loan, we’ll look over some basic information. The following is a list of the paperwork you’ll need for a marriage loan.
- Photo Identity Proof: Documents such as an Aadhar card or a voter’s ID, for example, can be used to authenticate your identity.
- Proof of Income: a copy of your last six months’ bank statements
- Salary Statements: Pay stubs over the previous three months
- A copy of your passport, utility bill, or ration card is required as proof of residency.
- Certificate of employment: To demonstrate one year of continuous employment with your current employer.
What are the interest rates on marriage loans?
Wedding financing, like any other debt, comes with a price tag. When you take out a wedding loan, you will have to pay interest on a portion of the loan amount. It informs you how much a loan will cost you. As a result, a lower interest rate is preferable.
Request a Personal Loan for Your Wedding
Whether you are having a modest ceremony or a large wedding, there will always be a variety of products for which you will want financing. Apply for a Personal Loan for a Wedding and begin crossing things off your wedding to-do list.
What are the main prerequisites for obtaining a Wedding Loan?
Obtaining a Wedding Loan is straightforward and quick. You will be requested to give the following information for your loan to be approved quickly:
- Personal information, such as your PAN number, CIBIL score, and KYC papers
- A copy of your pay stubs, proof of address, and bank statements.