June 18, 2024

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Worried About Wedding Expenses Getting Out of Control? Here’s the Marriage Loan for Your Rescue

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Marriage Loan for Your Rescue

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In India, weddings are an elaborate affair. With so many rituals spanning across days, multiple events, and an extensive guest list, the wedding expenses can create a big dent into your savings account. There are multiple things to cater to when it comes to planning a wedding. Your wedding budget may often surpass your wedding savings. A salary loan can easily help you manage all these expenses with ease.

You can easily apply for an online loaneven at the last moment to handle your wedding expenses.These unsecured loans come with unrestricted end use. This means you do not have to pledge your collateral to avail this loan and you can use a wedding loan for any purpose you deem fit.

Whether it is a high-end designer dress that you wish to wear, or buy antique jewellery to pair with your dress, a wedding loan can help you manage all your expenses.

Here’s why you must avail a marriage loan

A marriage loan is a personal loan taken to fund the expenses of a wedding. Here are some of the features of a wedding loan that makes it a great option.

No collateral

Weddings are an expensive affair. In such a scenario, unsecured loans could be your saviour. You do not want any tied-up financial obligation to your valuable assets. So, an online loan fits best when you are looking for quick cash without putting your assets at risk.Thus, you can apply for a salary loan even if you do not have any asset to pledge.

High amount

You can easily avail a high value online loandepending on your eligibility. Many lenders offer you the flexibility to choose a loan amount that would suffice your needs. However, do note that your maximum loan amount depends on your salary, monthly oblgations, age and current debts.

Flexible usage

Whether you want to use the loan amount for catering or décor or jewellery or pre-celebrations a personal loan gives you the flexibility to use the loan in any way you see fit. You do not have to provide the lender a breakdown of your expenses or proof of your spendings.

Available for both salaried and self-employed

If you meet the eligibility criteria for a personal salary loan, irrespective of the fact whether you are salaried or self-employed, you may apply. Self-employed people typically continue to doubt the viability of a loan and use their resources to pay for a wedding. However, regardless of whether you get a paycheck or you are self-employed, you may quickly access an online loan and meet your marriage expenses.

Competitive interest rates

Today, there are many lenders offering online loans at competitive interest rates. You must conduct a thorough market research to find the lender offering the best loan offer. Also, having a good borrower’s profile will help you secure a loan at a much affordable interest rate.

Easy accessibility

With easy processing and quick disbursals, you can avail an online loan even at the last moment. Whether you apply for a planned loan or it is a last minute decision, a personal loan can be your best bet. The online processing makes it possible for you to apply for the loan from anywhere. Thus, you don’t have to visit the branch or stand in long queues to get your loan approved.

Minimal documentation

Amidst your wedding preparation, you cannot possibly go around ransacking through your documents folder to click images and submit the same in order to avail a personal salary loan. And the Online loan applications need minimal documentation. Though the document requirements vary from lender to lender, you need to keep your basic documents handy. This includes your identity proof, address proof, imcome proof and passport sized phototgraphs.

Flexible repayment features

Online loans come with flexible repayment features. You can choose a loan tenure according to your convenience and affordability. You also get the option to select your EMI due date and the amount of EMI you wish to pay. This makes repayment of your loan much easier. In addition to this, you also get pre-closure option wherein you can close the loan account by clearing the debt in advance.

Conclusion

A wedding loan can help you design the wedding of your dreams. Whether you want a hush hush intimate wedding or a big destination wedding, a wedding loan can help you manage your expenses well. However, before applying for the loan, make sure that you have a proper repayment strategy to take care of your EMIs.

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