When we visualise a wedding, everything lavish, exclusive and beautiful flashes in front of our eyes, isn’t it? Whether it is a simple wedding, a big fat wedding or a destination wedding, the expenses involved are plenty. The mandatory pre-wedding functions and a perfect honeymoon trip also add to the expense of executing a lavish wedding. If you have not saved enough, wedding expenses start getting out of hand and nobody wants to compromise on hosting a memorable wedding event. Borrowing from friends and relatives becomes a matter of dignity. Hence, it is better to look for independent financial options such as an instant personal loan for wedding purposes.
A wedding loan is a type of personal loan that can help to support miscellaneous wedding expenses on the go. When the time is less for the wedding preparations and expenses required are more, rely on an instant personal loan app easily available on Google Play Store. Being an instant loan, the procedure for loan application is minimal.
Know the benefits of applying for a wedding personal loan via online loan apps:
- Minimal documentation: Personal loan verification online involves paperless documentation. Submit the KYC details for quick loan approval and suffice your wedding expenses.
- Fixed rate of interest: Personal loans are generally given at a fixed interest rate. The rate of interest does not fluctuate based on the changing market rate. Hence, even after the wedding is over, repayment of EMIs will not be a burden if you compare interest rates online and seek an affordable one.
- Flexibility to select the tenure: The tenure goes up to 3-5years. Borrowers have the flexibility to choose the tenure using the EMI calculator tool. The longer the tenure of a loan, the lower the EMI and vice versa.
- Quick Approval: Financial institutions provide online loan facilities with instant loan apps that speed up the application, approval and disbursal process. Hence, any urgent wedding expenses can be met with timely financial help from instant loan apps.
- Limitless Usage: A personal loan can be used for various reasons. It is one of the quickest loan approval products when you are in urgent need of funds. Whether for accommodation, ticket booking, gifts, down payment etc. Different financial purposes can be met via a wedding personal loan.
Eligibility Criteria for Wedding Loans
The eligibility criteria may vary from lender to lender. However, below are some criteria to consider while making a wedding loan application:
Apply for a wedding loan with a minimum of 21years of age and a maximum of 58years
- Minimum income required is at least 15,000 Rs
- Salaried and self-employed individuals are eligible for wedding loans online
- Employment stability for at least 1 or 2 years
Documents necessary for wedding personal loan are mainly the KYC details – Aadhar card and PAN card.
If there is an upcoming wedding in your family or you are looking for self-financial help, do consider a wedding personal loan for timely funds. The in-built EMI calculator within the loan app gives clarity on the EMIs and accordingly you can go ahead with planning the loan repayments. Stay stress-free with instant loan apps and plan your wedding expenses wisely.